Exemption or not??

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Querist : Anonymous

Querist : Anonymous (Querist)

07 April 2013 sir i got exactly 60 marks in auditing and assurance and 51 in advanced accounting or 33 in it/sm. and in my marksheet it shows F-EX. my query is that am i exempted from audit paper or not???? and what does F-EX stands for???

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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07 April 2013 Yes you will get exemption from Audit paper.
F-EX stand for Failed with exemption.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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07 April 2013
Criteria for Exemption in CA IPCC, CA Final Exams
Ref: In accordance with Regulation 38A of the Chartered Accountants Regulations, 1988 as published by Notification No. 1-CA(7)/51/2000 dated 14 August 2001

If a Candidate who was Present in all the Papers of a Group, fails in one or more papers comprised in a group but,
Secures a Minimum of in any paper or papers of that Group,
Shall appear in the next attempt in only those Papers in which he secured less than 60 Marks
And shall be declared passed if he obtains minimum 40% in each subject and 50% in aggregate including the paper(s), in which the candidate had secured more than 60 marks in the earlier examination.
The Exemption would be specifically mentioned for each subject and shall be valid only for the next 3 following attempts
The implications of the above paragraph are clarified below:-

You must have appeared in all the papers of a group
A Candidate shall be declared to have passed in a Group if he secures in one sitting – a minimum of 40% marks in each paper of the group. For the purpose of arriving at the aggregate marks, the paper(s) in which 60 or more marks were secured shall also be taken into account
You must have failed in the Group and should have secured a minimum of 60 Marks in any paper of that group.
An exemption is valid for 3 immediately succeeding exams and will be carried forward automatically for the next 3 examinations.

Please Note , There is no condition wrt the number of marks you shall secure in the paper which you fail to clear. Even if you secure zero marks in the papers in which you fail, exemption would still be valid for papers in which you obtain 60 or more than 60 marks, provided you appeared in all the papers of the group

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