ICAI Announces Relaxation for Old Course Students to Commence 3 Years of Practical Training

In a recent announcement, the Institute of Chartered Accountants of India (ICAI) has provided a significant relaxation for students under the Old Scheme of Education and Training, aimed at addressing challenges posed by the implementation of the New Scheme of Education and Training, including the Conversion (Transition) Scheme. The relaxation pertains to three categories of students:

Passed Intermediate Examination Under Old Scheme: Students who have successfully cleared either of the groups of the Intermediate Examination under the Old Scheme will now have the opportunity to opt for a 3-year Practical Training period. They must complete this process by September 30, 2023, and submit the Article Registration Form within 30 days from the start of this period. No forms will be accepted after this grace period, even with condonation fees.

Intermediate Direct Entry Students: Students who have registered or provisionally registered for the Intermediate Course under the Old Scheme via the Direct Entry Route can also benefit from this relaxation. They must provide satisfactory proof of having passed the graduation examination with minimum marks as specified and successfully complete the ICITSS Course according to the relevant regulations. Similar to the first category, they are required to commence their 3-year Practical Training by September 30, 2023, and submit the Article Registration Form within 30 days, with no extension allowed beyond this point.

Transitioned Students from CPT/Foundation Route: Students who initially registered for the Intermediate or equivalent Course through the CPT/Foundation Route, attempted the Intermediate or equivalent Examination(s), but were unable to pass them, are eligible for this relaxation. They have an exemption from the requirement of completing 9 months of Practical Training to appear in the November 2023 Intermediate Examinations. However, if they are interested in pursuing the 3-year Practical Training, they must commence it by September 30, 2023, and submit the Article Registration Form within 30 days.

It’s important to note that these relaxations, which temporarily modify Regulations 45 and 50 of the New Scheme of Education and Training, are being implemented as a one-time measure. The Article Registration Forms for the affected students will be available on the SSP Portal starting from August 21, 2023. This announcement comes as a response to the challenges faced by students due to the transition to the New Scheme of Education and Training.

Director of the Board of Studies at ICAI has issued this directive to alleviate the difficulties faced by students under the Old Scheme, providing them with more flexibility and options for pursuing their Practical Training.

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RELEVANT ICAI PRESS RELEASE IS AS FOLLOWS:-

Relaxation to Old Course Students to commence 3 years of Practical Training – (i) who have passed one of the groups of Intermediate Examination under Old Scheme.(ii) who have registered / provisionally registered in Intermediate through Direct Entry Route under Old Scheme. (iii) who have converted from Intermediate (Foundation/CPT Route) to Intermediate (Direct Entry Scheme) for appearing in November 2023 Examination.

Board of Studies (Academic)
The Institute of Chartered Accountants of India
13th August, 2023

Re: Relaxation to Old Course Students to commence 3 years of Practical Training –

(i) who have passed one of the groups of Intermediate Examination under Old Scheme.

(ii) who have registered / provisionally registered in Intermediate through Direct Entry Route under Old Scheme.

(iii) who have converted from Intermediate (Foundation/CPT Route) to Intermediate (Direct Entry Scheme) for appearing in November 2023 Examination.

In exercise of the powers conferred under Regulation 205 of the Chartered Accountants Regulations, 1988 and to remove the hardship caused to the students on account of implementation of New Scheme of Education and Training including Conversion (Transition) Scheme, the Council hereby order that –

• Students who have cleared either of the groups of Intermediate Examination under Old Scheme of Education and Training be allowed to opt for 3 years of Practical Training latest by 30th September 2023 and may submit the Article Registration Form within 30 days’ time only and no form would be accepted, thereafter, even with condonation fees.
• Intermediate Direct Entry Students who have registered / provisionally registered in the Intermediate Course under Old Scheme, on submission of satisfactory proof of having passed the graduation examination with the minimum marks as provided in sub-regulation (4) of Regulation 28F and on successful completion of ICITSS Course as provided in Regulation 51 (D), may commence their 3 years of Practical Training latest by 30th September 2023 and may submit the Article Registration Form within 30 days’ time only and no form would be accepted, thereafter, even with condonation fees.
• Such students who originally registered for Intermediate or its equivalent Course through CPT/Foundation Route and appeared in Intermediate or its equivalent Examination(s) but unable to pass the said examination(s) and later on after graduation shifted to Direct Entry Scheme, be exempt for the eligibility criteria of completion of 9 months of Practical Training for appearing in November, 2023 Intermediate Examinations but have to commence their 3 years of Practical Training, if interested, by 30th September, 2023 and may submit the Article Registration Form within 30 days’ time only and no form would be accepted, thereafter, even with condonation fees.
• The above relaxations on account of requirement of Regulations 45 & 50 in the New Scheme of Education and Training be given as a one-time measure only.

Director

PS: May please note that the Article Registration Forms for the afore-said students would be made available in the SSP Portal from 21st August, 2023.