PLEASE SEE THE SCHEME CAREFULLY SPECIALLY THE HIGHLITED POINTS
[PUBLISHED IN GAZETTE OF INDIA, EXTRAORDINARY,
PART III SECTION 4 DATED 3
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NOTIFICATION
RD DECEMBER, 2008]
New Delhi, dated 2
nd December, 2008
No.1-CA(7)/123/2008
further to amend the Chartered Accountants Regulations, 1988, were published by the
Institute of Chartered Accountants of India, as required under sub-section (3) of section 30
of the Chartered Accountants Act, 1949 (38 of 1949) at pages 1 to 18 of the Gazette of
India, Part III, section 4, dated the 1
Chartered Accountants of India No. 1-CA(7)/123/2008 dated 1
And whereas objections and suggestions were invited before the expiry of a period of
forty five days from the date on which the copies of the said Gazette were made available to
the public;
And whereas the said Gazette was made available to the public on 3
2008;
And whereas no objection or suggestion or comment was received from any person
with respect to the said draft notification and that the matter has been considered by the
Council of the Institute of Chartered Accountants of India;
Now, therefore, in exercise of the powers conferred by sub-section (1) read with
sub-section (3) of section 30 of the said Act, the Council, with the approval of the Central
Government, hereby makes the following amendments in the Chartered Accountants
Regulations, 1988, namely:-
1. (1) These regulations may be called the Chartered Accountants (Second
Amendment) Regulations, 2008.
(2) They shall come into force on the date of their final publication in the Official
Gazette.
2. In the Chartered Accountants Regulations, 1988,
. − Whereas the following draft of certain regulationsst September, 2008 in the notification of the Institute ofst September, 2008;rd September,−
(i) after regulation 28C, the following Regulation shall be inserted, namely:-
“28D. Enrolment for Integrated Professional Competence Course and Fees
The study course for the chartered accountancy candidates shall be named as Integrated
Professional Competence Course, which shall be composed of three levels viz. Group I,
Accounting Technician (optional) and Group II. A candidate may opt for enrolment to Group
I or Group I and Accounting Technician or Accounting Technician and/or Group II or Group I
and Group II or for all the levels referred to above in this regulation.
(2) No candidate shall be eligible for enrolment to any of the level(s) of the Integrated
Professional Competence Course unless he has passed the Common Proficiency Test
. − (1)
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held under these regulations and Senior Secondary Examination (10+2 examination)
conducted by an examining body constituted by law in India or an examination
recognised by the Central Government as equivalent thereto:
Provided that a candidate who has passed Entrance Examination or Foundation
Examination or Professional Education (Examination-I) under these regulations shall be
eligible for enrolment to Integrated Professional Competence Course subject to such
conditions as may be specified by the Council:
Provided further that a candidate who was already registered for erstwhile
Intermediate Examination as per syllabus under paragraph 2 or 2A of Schedule B or of
Professional Education (Course-II) under sub-regulation (1) of regulation 28A or Professional
Competence Examination under regulation 28C of these regulations shall be eligible for
enrolment/conversion to Integrated Professional Competence Course subject to such
conditions as may be specified by the Council.
(3) A candidate shall pay such fee for enrolment to Integrated Professional Competence
Course as may be fixed by the Council which shall not exceed rupees twelve
thousand along with his application in the Form as may be approved by the Council.
28E. Admission to Integrated Professional Competence Examination, fees and
syllabus
[Applicable to candidates appearing in Integrated Professional Competence Examination
under the syllabus as may be specified by the Council under sub-regulation (3) of this
regulation.]
(1) No candidate shall be admitted to Integrated Professional Competence Examination
unless
−
(a) he is enrolled for the relevant level(s) of the Integrated Professional
Competence Course; and
(b) he produces a certificate to the effect that he has undergone a study course,
for a period not less than nine months, as may be specified by the Council for
the relevant level(s), as on the first day of the month in which the
examination is held, in the manner as may be specified by the Council from
time to time; and
(c) he has completed a course on Information Technology Training or Computer
Training Programme for such period and in such manner and within such
time as may be specified by the Council from time to time.
(2) A candidate for the Integrated Professional Competence Examination shall pay such
fee, as may be fixed by the Council, which shall not exceed rupees ten thousand.
(3) A candidate for the Integrated Professional Competence Examination shall be
examined as per the syllabus as may be specified by the Council from time to time.
(4) Notwithstanding anything contained in these regulations, the Council may at any
time after the commencement of enrolment to Integrated Professional Competence
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Course discontinue holding of Professional Competence Examination under the
syllabus as specified by the Council under sub-regulation (3) of regulation 28C and
require the candidates to pass, in such manner as may be specified by the Council
from time to time, Integrated Professional Competence Examination as per the
syllabus specified by the Council under sub-regulation (3) above.”;
(ii) after regulation 29B, the following regulation shall be inserted, namely:-
“
29C. Admission to Final Examination
[Applicable to candidates appearing in Final Examination under the syllabus as may be
specified by the Council under regulation 31(i), (ii) and (iii)]
(1) No candidate shall be admitted to the Final Examination unless he has passed,
−
(i) Professional Competence Examination in its entirety held under these
regulations; and
(ii) completed the practical training as is required for admission as a member on
or before the last day of the month preceding the month in which the
examination is held:
Provided that a candidate who has passed Professional Education (Examination-II)
under the syllabus as specified by the Council under sub-regulation (5) of regulation 28B
and has completed the practical training as is required for admission as a member on or
before the last day of the month preceding the month in which the examination is held or
has been serving the last twelve months of practical training including excess leave, if any,
on the first day of the month in which the examination is held, shall be admitted to the Final
examination.
(2) Notwithstanding anything contained in sub-regulation (1) above, a candidate who
has passed the Professional Competence Examination from out of the category of
candidates covered under second proviso to sub-regulation (1) of regulation 28C or
Integrated Professional Competence Examination under the syllabus as may be
specified by the Council under sub-regulation (3) of regulation 28E or the
Intermediate Examination under these Regulations or Intermediate Examination
under the Chartered Accountants Regulations, 1964 or the Intermediate or the first
examination under the Chartered Accountants Regulations, 1949, or was exempted
from passing the first examination under those regulations shall be admitted to the
Final examination provided he has completed the practical training as is required for
admission as a member on or before the last day of the month preceding the month
in which the examination is held or has been serving the last six months of practical
training including excess leave, if any on the first day of the month in which the
examination is held.
Explanation.
excess of one-sixth of the actual period served subject to a maximum of days, as may be
determined by the Council, shall be regarded as the period required to be served under
articled or audit service, as the case may be.”;
− In computing the aforesaid period of six or twelve months, leave taken in
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(iii) in regulation 31, after item (ii), the following item shall be added, namely:-
“(iii) as per the syllabus specified by the Council from time to time after commencement
of enrolment to Integrated Professional Competence Course.”;
(iv) after regulation 37B, the following regulation shall be inserted, namely:-
“
Examination
37C. Requirements for passing Integrated Professional Competence
[Applicable to candidates appearing in Integrated Professional Competence Examination
under the syllabus as may be specified by the Council under sub-regulation (3) of
regulation 28E]
(1) A candidate may appear in Group I or Group II level(s), separately or simultaneously
or in a Unit comprising of a set of papers of Group I and / or Group II.
(2) A candidate, other than a candidate who has opted for Accounting Technician level,
shall ordinarily be declared to have passed the Integrated Professional Competence
Examination, if he –
(a) completes the Orientation Course for such period and in such manner and
within such time as may be specified by the Council from time to time; and
(b) passes in both Group I and Group II levels.
(3) A candidate, who has opted for the Accounting Technician level, shall be declared to
have passed in that level, if he
−
(a) passes in Group I level;
(b) completes the Orientation Course for such period and in such manner and
within such time as may be specified by the Council from time to time; and
(c) completes the practical work experience in accounting and related fields for a
period not less than twelve months in such manner as may be specified by
the Council from time to time:
Provided that a candidate, who has passed either the Professional Competence
Examination under the syllabus as per the sub-regulation (3) of Regulation 28C or
Professional Education (Examination-II) under the syllabus as per sub-regulation (5) of
Regulation 28B of these regulations or Intermediate Examination under these regulations or
the Chartered Accountants Regulations, 1964 or Intermediate or the first examination under
the Chartered Accountants Regulations, 1949 or was exempted from passing the first
examination under that regulation and has completed the prescribed period of practical
training as was required for admission as a member, shall be eligible for grant of Accounting
Technician Certificate on making an application to this effect and on compliance with such
other conditions as may be specified by the Council from time to time.
(4) A candidate shall ordinarily be declared to have passed in both the groups
simultaneously, if he –
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(a) secures at one sitting a minimum of 40 per cent. marks in each paper of each
of the groups, viz., Group I and Group II levels, and minimum of 50 per cent.
marks in the aggregate of all the papers of each of the groups; or
(b) secures at one sitting a minimum of 40 per cent. marks in each paper of both
the groups, viz., Group I and Group II levels, and a minimum of 50 per cent.
marks in the aggregate of all the papers of both the groups taken together.
(5) A candidate shall be declared to have passed in Group I level or Group II level or
unit, as the case may be, if he secures at one sitting a minimum of 40 per cent.
marks in each paper of the group / unit and a minimum of 50 per cent. marks in the
aggregate of all the papers of that group / unit.
(6) A candidate, who has passed in any one but not in both the groups either of the
Professional Competence Examination under the syllabus as specified by the Council
under sub-regulation (3) of the regulation 28C or Professional Education
(Examination-II) under the syllabus as specified by the Council under sub-regulation
(5) of regulation 28B effective from October, 2001, the examination for which
commenced from November, 2002 or of the Intermediate Examination as per
syllabus under paragraph 2A of Schedule `B’ to the Chartered Accountants
Regulations, 1988, shall be eligible for exemption in the corresponding paper or
papers, if the corresponding paper(s) exists in the new syllabus as may be specified
by the Council.
(7) The Council may frame guidelines to continue to award exemption in a paper or
papers to a candidate, granted earlier in the Professional Education (Examination-II)
under the syllabus as specified by the Council under the syllabus as specified by subregulation
(5) of regulation 28B or in the Professional Competence Examination
under the syllabus as specified by sub-regulation (3) of regulation 28C for the
unexpired chance or chances of the exemption in the corresponding paper or papers,
as may be specified by the Council, in which he has secured exemption if the
corresponding paper exists or papers exists in the new syllabus as may be specified
by the Council. On appearing in the examination of the corresponding paper or
papers in which he had failed, he shall be declared to have passed the examination if
he secures at one sitting a minimum of 40 per cent. marks in the corresponding
paper or papers in which he had failed earlier and a minimum of 50 per cent. marks
in the aggregate of all the papers of the group including the marks of the paper or
papers in which he had earlier been granted exemption by the Council.
(8) Notwithstanding anything contained in sub-regulations (1) to (7) above, a candidate
who has appeared in all the papers comprised in a group / unit and fails in one or
more papers comprised in a group / unit but secures a minimum of 60 per cent of
the marks in any paper or papers of that group shall be eligible to appear at any one
or more of the immediately next three following examinations in the paper or papers
in which he secured less than 60 per cent. marks. He shall be declared to have
passed in that group / unit if he secures at one sitting a minimum of 40 per cent.
marks in each of such papers and a minimum of 50 per cent. of the total marks of all
papers of that group / unit including the paper or papers in which he had secured a
minimum of 60 per cent. marks in the earlier examination referred to above. He
shall not be eligible for any further exemption in the remaining paper(s) of that
group / unit until he has exhausted the exemption already granted to him in that
group / unit.”;
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(v) after regulation 38B, the following regulation shall be inserted, namely:-
“
38C. Requirements for Passing the Final Examination
[Applicable to candidates appearing in Final Examination under the syllabus as may be
specified by the Council under regulation 31(ii) and (iii)]
(1) A candidate may appear in both the groups simultaneously or in one group in one
examination and the remaining group at any subsequent examination and shall
ordinarily be declared to have passed the Final Examination if he passes in both the
groups.
(2) A candidate shall ordinarily be declared to have passed in both the groups
simultaneously, if he –
(a) secures at one sitting a minimum of 40 per cent. marks in each paper of each
of the groups and minimum of 50 per cent. marks in the aggregate of all the
papers of each of the groups; or
(b) secures at one sitting a minimum of 40 per cent. marks in each paper of both
the groups and a minimum of 50 per cent. marks in the aggregate of all the
papers of both the groups taken together.
(3) A candidate shall be declared to have passed in a group if he secures at one sitting a
minimum of 40 per cent. marks in each paper of the group and a minimum of 50 per
cent. marks in the aggregate of all the papers of that group.
(4) A candidate who has passed in any one but not in both the groups of the Final
Examination under the syllabus as specified by the Council under items (i) and (ii) of
regulation 31 or of the Final Examination as per syllabus under paragraph 3 or 3A of
Schedule `B’ to the Chartered Accountants Regulations, 1988 or paragraph 3 of
Schedule ‘BB’ to the Chartered Accountants Regulations, 1964 (two groups scheme
after January 1, 1985) enforced at the relevant time shall be eligible for exemption in
that particular group and shall be required to appear and pass in the remaining
group in order to pass the Final Examination.
(5) The Council may frame guidelines to continue to award exemption in a paper or
papers to a candidate, granted earlier under the syllabus as specified under items (i)
and (ii) of regulation 31 for the unexpired chance or chances of the exemption in the
corresponding paper or papers for the paper or papers in which he had secured
exemption, if the corresponding paper or papers exists in the new syllabus of the
Final Examination as may be specified by the Council. On appearing in the
examination of the corresponding paper or papers for the paper or papers in which
he had failed, he shall be declared to have passed the examination if he secures at
one sitting a minimum of 40 per cent. in the corresponding paper or papers for the
paper or papers in which he had failed earlier and a minimum of 50 per cent. marks
in the aggregate of all the papers of the group including the marks of the paper or
papers in which he had earlier been granted exemption by the Council.
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(6) Notwithstanding anything contained in sub-regulations (1) to (5) above, a candidate
who has appeared in all the papers comprised in a group and fails in one or more
papers comprised in a group but secures a minimum of 60 per cent of the marks in
any paper or papers of that group shall be eligible to appear at any one or more of
the immediately next three following examinations in the paper or papers in which
he secured less than 60 per cent. marks. He shall be declared to have passed in that
group if he secures at one sitting a minimum of 40 per cent. marks in each of such
papers and a minimum of 50 per cent. of the total marks of all papers of that group
including the paper or papers in which he had secured a minimum of 60 per cent.
marks in the earlier examination referred to above. He shall not be eligible for any
further exemption in the remaining paper(s) of that group until he has exhausted the
exemption already granted to him in that group.”;
(vi) for regulation 40, the following regulation shall be substituted, namely:-
“
(Examination-II), Professional Competence Examination, Integrated Professional
Competence Examination, Accounting Technician level, or Final examination shall be granted
a certificate to that effect in the Form approved by the Council.”;
40. Examination Certificates. − A candidate passing the Professional Education
(vii) for regulation 45, the following regulation shall be substituted, namely:-
“
before accepting a person as an articled assistant satisfy himself that
45. Admission to Articleship. − (1) A member engaging articled assistants shall−
(a) he is entitled to train articled assistants under regulation 43, and his
professional practice or that of his employer, if he is an employee of
chartered accountant in practice or a firm of such chartered accountants, is
suitable for the purpose of training articled assistants; and;
(b) such a person –
(i) has passed Professional Education (Examination-II) or has passed
Group I level or Accounting Technician level of Integrated Professional
Competence Examination held under these regulations; and
(ii) has successfully completed computer training programme or
Information Technology Training as may be specified from time to
time by the Council and in the manner so specified.
(2) Notwithstanding anything contained in sub-regulation (1) above, a candidate who
has passed Common Proficiency Test held under these regulations and also 10+2
examination conducted by an examining body constituted by a law in India or an
examination recognised by the Central Government as equivalent thereto; or has
passed the Entrance Examination or Foundation Examination or Professional
Education (Examination-I) under these regulations shall be eligible for admission to
articleship until the commencement of the enrolment to Integrated Professional
Competence Course or till such time as the Council may decide:
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Provided that a candidate who was registered as an articled assistant before the
commencement of the enrolment to Integrated Professional Competence Course shall be
eligible to continue and complete the remaining period of practical training as per the deed
of articles already executed under these regulations irrespective of any break in the
continuity of training:
Provided further that a candidate who has passed Professional Education
(Examination-II) at the time of commencement of enrolment to Integrated Professional
Competence Course may join three years articleship upto such time as may be specified by
the Council.”;
(viii) in regulation 50, the following proviso shall be added at the end, namely:-
“Provided also that a candidate enrolled for the Integrated Professional Competence
Course shall be eligible to three years articleship on his passing the Group I level or
Accounting Technician level of the Integrated Professional Competence Examination.”
Sd/-
T. Karthikeyan,
Acting Secretary.
CAclubindia
