Frequently Asked Questions (FAQs) on Direct Entry to Chartered Accountancy Course

1. Who is eligible to register directly for Chartered Accountancy Course without passing Common Proficiency Test (CPT)?

The   following   categories   of   students   are   eligible   to   register   directly   for Intermediate (Integrated Professional Competence) Course without passing the Common Proficiency Test (CPT):-

1.  Graduates  or  Post  Graduates  from  Commerce  stream  having  secured  in   aggregate a minimum of 55% of the total marks or its equivalent grade or other   Graduates or Post Graduates having secured in aggregate a minimum of 60% of  the total marks or its equivalent grade in the examination conducted by any   recognised University (including Open University).

2.  Candidates  who  have  passed  the  Intermediate  level  examination  or  its   equivalent examination by whatever name called conducted by The Institute of  Cost Accountants of India or by The Institute of Company Secretaries of India.

2. Who is considered to be a Commerce stream student?

A student shall be deemed to be of Commerce stream, if he has passd Graduation/ Post Graduation examination by studying any three papers of 100 marks each out of Accounting,   Auditing,   Mercantile   Laws,   Corporate   Laws,   Economics,   Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting.

3. If a Graduate/ Post Graduate student studies subjects which are not considered for  awarding grades and only required to pass such examination, whether such subjects/ papers marks shall be considered in calculating the aggregate percentage of marks?

As per the scheme of education in any University, if a student is required to secure only pass marks and for which no special credit is given, such marks shall be ignored while  calculating prescribed percentage of marks for determining the prescribed percentage of  marks for admission to the chartered accountancy course under Direct Entry scheme.

4. Will a Graduate/ Post Graduate student who has secured in aggregate a minimum of 54.4% of the total marks in Commerce Stream or 59.4% in other stream be eligible to register under direct entry scheme of chartered accountancy course?

No. As per the rounding off provision, any fraction of half or more shall be rounded up to the next whole number. Accordingly, if a student secures a minimum 54.4% or 59.4% of the total marks in Commerce stream or in other stream respectively shall not be eligible to register under direct entry scheme of chartered accountancy course.

5. Whether students who are pursuing Graduation Course can register for Intermediate (Integrated Professional Competence) Course?

Yes, students who are pursuing the Final year of Graduation Course are eligible for provisional registration to the Intermediate (Integrated Professional Competence) Course.  Such students would be required to submit satisfactory proof of having passed the  graduation examination with the specified percentage of marks within six months, from the date of appearance in the final year graduation examination (i.e. from the day of
commencement of the examination). During the period of provisional registration, a  student can undergo and complete Information Technology Training (ITT) and Orientation  Course.  It is clarified that in such cases the practical training shall commence only on  becoming a Graduate with specified percentage of marks. Such students shall be eligible  for appearing in the Intermediate (Integrated Professional Competence) Examination on  completion of nine months of practical training. If such students fail to produce the proof  within  the  aforesaid  period,  provisional  registration  shall  stand  cancelled  and  the  registration and other fees, as the case may be, paid shall not be refunded/ adjusted and
no credit shall also be given for the theoretical education undergone.

6. When can directly registered student be eligible to join for practical training?

Graduates or Post Graduates from Commerce or other streams,  with specified percentage of marks shall be eligible for admission to three years articled training, on completion of –

(a)      Information Technology Training; and

(b)      Orientation Course

Students who have passed Intermediate level examination of The Institute of Cost Accountants of India or The Institute of Company Secretaries of India shall be eligible for admission to three years articled training on –

(a)      Passing of Group I or Both Groups of Intermediate (Integrated Professional Competence) Examination; or Accounting Technician level Examination;

(b)      Completion of Information Technology Training; and

(c)      Completion of Orientation Course

However, the Council, in order to mitigate the hardships that might be faced by the students registering under Direct Entry Scheme to Chartered Accountancy Course upto 30th September, 2012 has relaxed the requirement of completion of ITT and Orientation Course upto 31st March, 2013, as a one-time dispensation.

7. Whether a student who registers during August/ September 2012 will be eligible to appear in the May, 2013 Intermediate (IPC) Examination?

As per the requirement of the Regulations, a student registered under Graduate/ Post Graduate scheme can appear in the Intermediate (IPC) Examination on completion of nine months of practical training (including study course for a period of eight months commening from the date of registration to the Course) and student registered for the Intermediate (IPC) Course after passing Intermediate level examination of the Institute of Cost Accountants of India/ the Institute of Company Secretaries of India can appear in the examination after undergoing a study course for a period of eight months commencing from the date of registration to the Course.

However, the Council, in order to mitigate the hardships that might be faced by  the students registering under Direct Entry Scheme to Chartered Accountancy Course  upto 30th  September, 2012,  has  relaxed  the  eligibility  criteria  as  a  one-time dispensation, as under, so as to be eligible to appear in the Intermediate (Integrated Professional Competence) Examination to be held in May, 2013.

  Students registered for the articled training till 30th September, 2012 are required      to complete Orientation Course and Information Technology Training (ITT) latest by      31st March, 2013 instead of before registration for practical training.

  Such students shall be eligible to appear in the Intermediate (IPC) Examination to       be held in May, 2013 by completing 7 months of articled training and study course       concurrently, instead of 9 months of articled training and 8 months of study course       respectively.

  Students registered for Intermediate (IPC) Course by passing Intermediate level      examination  of  The  Institute  of  Cost  Accountants  of  India/    The  Institute  of       Company Secretaries of India  shall have to undergo 7 months of study course       instead of 8 months as prescribed under Regulations, so as to become eligible to       appear in the May, 2013 Examination”.

Accordingly,  students  who  register  under  Direct  Entry  Scheme  to  Chartered Accountancy  Course  upto 30th  September, 2012  shall  be  eligible  to  appear  in  the Intermediate (IPC) Examination to be held in May, 2013 as per the above decision of the Council, as a one-time dispensation.

8. Whether students who are registered for Common Proficiency Course (CPC) are also Graduates/  Post  Graduates  can  register  for  Intermediate (Integrated  Professional Competence) Course and commence practical training?

Yes, existing CPT students who have secured either 55% or 60% of the total marks or its equivalent grade in Graduation/ Post Graduation either in Commerce stream or in other streams can commence articled training on converting to Intermediate (IPC) Course by paying the following fees:

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Source- ICAI

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