THE INSTITUTE OF COST ACCOUNTANTS OF INDIA
GUIDELINES FOR MANDATORY TRAINING FOR ALL MEMBERS OF THE INSTITUTE UNDER CONTINUING EDUCATION PROGRAMME
(Amended with effect from 1st January, 2016)
1.1 The Institute of Cost Accountants of India was set up under the Cost and Works Accountants Act, 1959, as amended to educate, impart training and develop the profession of Cost Accountancy. In the current changing dynamic economic scenario it is essential for Cost Accountants in practice and in employment to continuously update and equip themselves with the new skills and concepts to meet the challenges and render efficient service to trade, commerce, industry and the society at large. A profession cannot maintain the cutting edge unless its members regularly update their knowledge.
1.2 As advised by the Quality Review Board, recommended by the Members’ Facilities & Services Committee and approved by the Council at its 291st Meeting held on 30th January, 2015, the Institute is pleased to announce revised CEP requirements for members in practice & industry vide Notification dated 12th February 2015. At least 50% of the CEP hours of the members should be in respect of the subjects pertaining to the topics of professional relevance for members as per Schedule-I of the said Guidelines.
1.3 In line with the recommendations of the International Federation of Accountants (IFAC) and feeling the need to have compulsory and continued training of the members of the Institute, the Council has made training mandatory for all members to ensure constant updating of knowledge and skills of members. The Council has framed the following guidelines covering the requirement of eligible training, awarding and recording of credit hours as well as features for considering programmes eligible to award credit hours.
1.4 The objective of Continuing Education Programme is to assist the members in widening their knowledge base and in improving their skills to be at the cutting edge of technology by providing training and expertise in critical areas.