ICAI Gives Relaxation To Old Programme Students; Details Inside

In order to give relaxation, the Institute of Chartered Accountants of India (ICAI) will give a break to students to start a three-year practical training programme. According to the ICAI, there will be some relaxation for students who have passed one of the groups of intermediate exams under the previous scheme, registered and provisionally registered in the intermediate through the direct entry route under the previous scheme, and converted from intermediate (foundation and CPT route) to intermediate (direct entry scheme) in order to sit for the exam in November 2023.

Students who have passed either of the intermediate examination groups under the Old Scheme of Education and Training will be able to choose the three years of practical training by September 30 at the latest. They must submit the article registration form within that time frame; after that point, no form will be accepted, not even with condonation fees.

To alleviate the hardship caused to the students by the implementation of the New Scheme of Education and Training, including the Conversion (Transition) Scheme, the council has provided a relaxation in the exercise of the powers granted under Regulation 205 of the Chartered Accountants Regulations, 1988.

The eligibility requirement of completing nine months of practical training for appearing in the intermediate examinations in November 2023 will not apply to students who originally registered for the intermediate or its equivalent programme through CPT and foundation route and appeared in the intermediate or its equivalent exam but were unable to pass the said exams, and later after graduating switched to direct entry scheme. However, they must start their three years of practical training.