2.5 yrs, 2 yrs and again 2.5 yrs

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This query is : Resolved

Chitra (Querist)

25 March 2008 Earlier, students passing PE2, had to wait for 3 yrs to sit for Final. (the 2.5 years rule cleverly extended to cover 3 yrs). Then from 2006, it became 2 yrs, so a student could sit for Final aftr 2 yrs and a few months in the Final Attempt.
BUT What abt now? Now, PE2 students who passed in Nov07 & who will pass in May08 will have to wait again for 3 years for Final, as they r gettin into the New Final scheme.
PE2 May2008. Result- July2008
2 and half yrs get completed in Jan 2011. So, thus Final attempt will b in May 2011. So, a cool 3 yrs is snatched by ICAI.
But, a PE2 student who will pass in May and will get registered in the New Final, will he/she get into the 3 years articleship or 3 & 1/2 yrs articleship?

Prasad R

Prasad R (Expert)

25 March 2008 yes Chitra i can understand what it feels to be giving ur attempt in May' 2011 a 6 months delay in ur attempt. Bt u don't have to worry about extension of articleship it is 3 years only for those who are PE-II qualified.But still u may confirm it from other sources as well. But i'm pity confident that ur articleship will only be for 3 years. Now something to cheer for you atleast.
A very well known saying that we as C.A professionals should always keep in mind-
" The only thing that's permanent in life is a Change". Some thing that we can't do anything about. Jus live with it.
Now don't loose ur heart. Ur perserverance and ur patience will definitely pay off.
ALL THE BEST
U may feel free to revert back to me with any of ur queries at prasad85r@gmail.com or at this forum.
Regards
Prasad.R

KAAPIL

KAAPIL (Expert)

25 March 2008 You have three years of articleship. Secondly, exams will be in the same format. 2 1/2 years of articleship. i.e. six months pending.

Chitra

Chitra (Querist)

26 March 2008 yes, thanks for ur replies.
actually, i've clarified b4 that the 2&1/2 clause is a non-existent one. it inevitably takes away 3 yrs before the final attempt. And Mr. Kapil, the Final attempt comes 3 months prior to the completion of articleship. Not 6 months. Its a method to dissuade students.
Anyway, thanks again for ur replies......

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