Chartered Accountancy:

In India, chartered accountants are regulated by the Institute of Chartered Accountants of India (ICAI) which was established by the Chartered Accountants Act 1949. ICAI is presently the second largest accounting body in the world. Being a growing economy, India has seen a growing number of Chartered Accountants over the years. As of April 2014, ICAI had nearly 230,000 registered members

HOW TO BECOME A CHARTERED ACCOUNTANT?

Requirements to become a Chartered Accountant:

  1. Through CPT route:
    1. Enroll with the Institute for Common Proficiency Course (CPC) after passing class 10th examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto.
    2. Appear in CPT examination after appearing in the Senior Secondary Examination (10+2 examination) conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto and after completion of specified period (60 days) from the date of registration for CPC with the Board of Studies and first day of the month in which the examination is to be held, viz., students registered on or before 1st April/1st October will be eligible to appear in June/December examination, as the case may be.
    3. Join Intermediate (IPC) Course/ATC after passing CPT and 10+2 examination. • Undergo Orientation Programme • Complete 100 hours ITT • Students are advised to undergo Orientation Programme and complete 100 hours ITT at the earliest but these are to be completed compulsorily before commencement of their articleship. • Appear in Intermediate (IPC) Examination/ATE on completion of 8 months of study course as on first day of the month in which the examination is to be held • Join articled training after passing either Group I or Both Groups of Intermediate (IPC) Course. • Undergo First General Management and Communication Skills (GMCS) course (15 days) during the first year of articled training. • Undergo Second General Management and Communication Skills (GMCS) course (15 days) after completion of 18 months of articled training but before completion of articled training. Alternatively, attend Four Week’s Residential Programme on Professional Skills Development. • Clear Group II of Intermediate (IPC) Examination if not done earlier.
    4. Join CA Final Course: • After passing Intermediate (IPC) Examination register for Final course with the Board of Studies; • Collect study material of the Final course and prepare for the Final examination; • Complete Advance Information Technology Training during the third year of practical training but before appearing in the Final Examination; • Complete articled training of 3 years.
    5. Appear in the final examination on completion of the practical training or while serving last 6 months of articled training on or before the last day of the month preceding the month in which the examination is to be held.
    6. Pass final examination and complete GMCS II, if not completed earlier.
    7. Enroll as a member of the ICAI and be designate as “Chartered Accountant”.

 

  1. Through Direct Entry:

Commerce Graduates/Post-Graduates (55%) or Other Graduates/Post-Graduates (60%):

  • Enroll with the Institute for Intermediate (Integrated Professional Competence) Course for Both Groups with or without the option of Accounting Technician Course (ATC).
  • Undergo 100 Hours Information Technology Training (ITT) and 35 hours Orientation Course spanning one Week.
  • Register for Practical Training of three years.
  • Complete General Management and Communication Skills (GMCS) – I Course during first year of practical training.
  • Appear in Intermediate (Integrated Professional Competence) Examination after nine months of practical training and Study Course of eight months concurrently from the date of registration for the Intermediate (Integrated Professional Competence) Course.
  • Appear and pass in both groups of Intermediate (Integrated Professional Competence) Course.
  • Register for CA Final Course and prepare for CA Final Examination.
  • Undergo General Management and Communication Skills (GMCS) II Course (15 days) course while serving the last 19 months to 36 months of articled training. Alternatively, attend Four Weeks’ Residential Programme on Professional Skills and Development.
  • Complete Advance Information Technology Training during the third year of practical training but before appearing in the Final Examination.
  • Complete three years period of articled training.
  • Appear in the Final Examination while serving last six months of articled training on or before the last day of the month preceding the month in which the examination is to be held.
  • Pass Final examination.
  • Enroll as a member of ICAI and be designated as “Chartered Accountant”.

Candidates who have passed Intermediate level examination of ICSI or ICWAI:

  • Enroll with the Institute for Intermediate (Integrated Professional Competence) Course either for Both Groups or Group I with or without the option of Accounting Technician Course (ATC).
  • Undergo eight months of Study Course from the date of registration for the Intermediate (Integrated Professional Competence) Course.
  • Pass either Group I or Both Groups of Intermediate (Integrated Professional Competence) Examination.
  • Undergo 100 hours Information Technology Training (ITT) and 35 hours Orientation Course spanning one week at the earliest but these are to be completed compulsorily before commencement of articled training.
  • Register as Articled Assistant for a period of three years training.
  • Undergo General Management and Communication Skills (GMCS) – I Course during first year of practical training.
  • Pass Group II of Intermediate (Integrated Professional Competence) Examination if not passed earlier.
  • Register for CA Final Course and prepare for CA Final Examination.
  • Undergo General Management and Communication Skills (GMCS) – II Course (15 days) course while serving the last 19 months to 36 months of articled training. Alternatively, attend Four Weeks’ Residential Programme on Professional Skills and Development.
  • Complete Advance Information Technology Training during the third year of practical training but before appearing in the Final Examination.
  • Complete three years period of articled training.
  • Appear in the Final Examination while serving last six months of articled training on or before the last day of the month preceding the month in which the examination is to be held.
  • Pass Final examination.
  • Enroll as a member of ICAI and be designated as “Chartered Accountant”.

Though it sounds easy, being a Chartered Accountant demands smart and dedicated smart work.

So Happy Learning!!