(a) whether any proposal is pending with the Union Government for a new four year Chartered Accountants Course by reducing the existing five years and three months course;
(b) if so, the details thereof; and
(c) the action taken by the Union Government thereon?
MINISTER OF COMPANY AFFAIRS (SHRI PREM CHAND GUPTA)
(a) & (b) A proposal has been received from Institute of Chartered Accountants of India for a new scheme for Education and Training for Chartered Accountancy Course. Salient features of the proposal are indicated in the statement attached.
(c) The proposal is under examination by the Government.
STATEMENT REFERRED TO IN REPLY TO PART (a) to (c) OF LOK SABHA UNSTARRED QUESTION NO.1408 FOR ANSWER ON 3.3.2006
The salient features of the proposed new Education and Training for Chartered Accountancy course are as under:-
# Enrol with the Board of Studies for the Common Proficiency Test (CPT) after passing Class X examination (or its equivalent) or thereafter;
# Take the Common Proficiency Test after appearing in 12th Standard examination (or its equivalent) or thereafter provided there is a gap of at least three calendar months between the enrolment for CPT and appearance at CPT; and after passing both namely 12th Standard and CPT;
# Register for practical training and enrol with Board of Studies for undergoing theoretical instruction for Professional Competence Course (PCC), simultaneously;
# Undergo integrated theoretical instruction and practical training for a period of three and a half years while pursuing Professional Competence Course and Final Course;
# Undergo compulsory Information Technology Training (ITT) of minimum of 100 hours (or as decided by the Council from time to time including modalities thereof) which may commence immediately after appearing at CPT examination or during practical training relevant to professional subjects included in the chartered accountancy course (to be decided by the Board of Studies from time to time in consultation with the Council) to be eligible to appear for the Professional Competence Examination;
# Pass the Professional Competence Examination after 18 months of commencement of practical training;
# Undergo General Management and Communication Skills Course of minimum 100 hours (or as decided by the Council from time to time as to duration and modalities thereof) after passing the Professional Competence Examination but before enrolment as a member of the Institute;
# Pass Final Examination conducted by the Institute.