Given the transition to the New Scheme of education for Chartered Accountancy, there have been significant changes and additions to the framework, especially for students enrolled under the old scheme. To address the difficulties faced due to this transition, the Council has announced some relaxations which will impact the trajectory for many students.
Intermediate Examination One Group Passed
Students who have successfully passed a single group of the Intermediate Examination under the Old Scheme are granted permission to undertake their 3 years of Practical Training before the 30th September 2023 deadline. They are expected to submit their Article Registration Form within a 30-day timeframe. No forms will be accepted past the specified period, and pleas for grace period will be denied.
Direct Entry Intermediate Students
Intermediate Direct Entry students registered or provisionally registered under the Old Scheme are eligible to commence their 3 years of Practical Training before the specified date, provided they furnish the required academic credentials as stipulated in sub-regulation (4) of Regulation 28F and successfully complete the ICITSS Course as mandated by Regulation 51(D). Similar deadlines of 30th September 2023 and 30 days stipulations regarding the Article Registration Form apply.
Exemptions for On-board Graduates with Direct Entry
For students initially associated with the Intermediate or equivalent course via the CPT/Foundation Route, and later transitioned to the Direct Entry Scheme post-graduation, an exemption from the 9-month Practical Training eligibility criteria for the November 2023 Intermediate Exams has been granted. However, those who wish to pursue the 3-year practical training must adhere to the September 30, 2023 deadline, complying with the same routines about Article Registration Form submission.
It is important to note that these relaxations are a one-time measure under Regulations 45 & 50 in the New Scheme of Education and Training.
To facilitate these changes, the Article Registration Forms for these students will be made available on the Self Service Portal (SSP) from 21st August 2023 onward.
This move is set to alleviate the difficulties of the transition period and enable a smoother journey towards becoming a Chartered Accountant for the students under the old scheme.
ICAI Announcement dated 13/08/2023: Relaxation in PT Commencement for Old Scheme CA Students