The Hindu : National : New 4-year CA course likely from next year

Online edition of India's National Newspaper
Friday, Oct 21, 2005

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National

New 4-year CA course likely from next year

Special Correspondent

Centre's approval being awaited

CHENNAI: The CA course will undergo significant changes soon. Once they come into effect, the duration will be reduced from five years and three months to four years.

"The new course is awaiting the approval of the Centre," T.N. Manoharan, vice-president, Institute of Chartered Accountants of India, said here on Thursday.

The ICAI expects that it will be able to offer the course from August 2006.

In the present system, a student has to undergo professional education-1 (PE-1) for 10 months after the completion of 10+2 or equivalent. The student can undertake professional education-2 (PE-2), only after passing PE-1 or completing graduation. After passing PE-2, he or she has to undergo an Article training-cum-final course for three years.

Features of new system

In the new system, all aspirants should take a common proficiency test (CPT) to be held every three months, Mr. Manoharan told presspersons. Initially it would be offered at designated centres and would soon go online. Anytime after passing class 10, the candidates could take the test, which would comprise objective-type questions in Accountancy, Mercantile Law and Quantitative Techniques, besides general aptitude.

After passing the CPT and class 12, students could register for practical training of a three-and-a-half-year duration. They could appear for the professional competence examination (PCE) on completion of 18 months of practical training. But by then they should have completed 100 hours of computer training. The students could take the final examination only after completing the three-and-a-half year training and passing the PCE.

The students could also complete a course in restructured general management and communication skills after 18 months of practical training.

The introduction of the new course would not affect the existing batch of students, Mr. Manoharan said. Once the course began, those who were doing PE-1 could qualify in the CPT and register for Articleship.

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