As you all are aware, the ICAI’s Continuing Professional Education (CPE) policy requires members to comply with the following requirements:

Members holding COP

Per year                          :        At least 20 hours of structured learning

3 Year Rolling period      :        At least 90 CPE credit hours, of which 60 CPE credit hours should be of structured learning

Members not holding COP

Per year                          :        At least 10 CPE credit hours of structured / unstructured learning

3 Year Rolling period        :        At least 45 CPE credit hours of structured / unstructured learning

In the above context, this is to bring to your attention that as per a recent press release from ICAI’s President, it has been declared that even reading of certain specified articles in CA Journal shall be held eligible to gain CPE hours of unstructured learning.  Attached below is the said press release.

Further, detailed below is a list of articles that have appeared in the September 2008 and October 2008 volumes of the ICAI journal, The Chartered Accountant. being eligible to award you one CPE hour each, of unstructured learning

Month Section                        Title
Sept 08              Accounting               Related Parties: Scenario under Indian GAAP, US GAAP and IAS
Sept 08              Taxation                    Interest paid at the time of purchase of securities by banks is allowable as revenue expenditure
Oct 08                Standards                Accounting Standards (AS) 32, Financial Instruments: Disclosures
Oct 08                Standards                Revised standard on auditing (SA) 580, written representations
Oct 08                Standards                Standard on Internal Audit (SIA) 4, reporting
Oct 08                Standards                Standard on Internal Audit (SIA) 5, sampling
Oct 08                Standards                Standard on Internal Audit (SIA) 6, Analytical Procedures
Oct 08                Standards                Standard on Internal Audit (SIA) 7, Quality assurance in internal audit
Oct 08                Accounting               Hedge accounting under AS 30
Oct 08                Auditing                    Auditing of digital firm

One can claim the hours by filing a Self Declaration Form with the ICAI after the end of every calendar year.  Form can be downloaded from the website of www.icai.org

Note: As members not in practice need not have structured CPE learning, reading the aforesaid articles will contribute to the annual requirement of 10 CPE hours.  For members in practice (i.e. COP holders), the minimum of 20 hours a year is only from structured learning programs, so reading the aforesaid articles will not qualify for the annual CPE requirement; however, it will be eligible to meet the requirement of 90 CPE hours in 3 years.