LETTER TO THE PRESIDENT OF ICAI:
Respected Sir,
Subject: Unintended hardship to our batch of Final students(i.e. those who have written their PE-II exam in Nov 2007 or May 2008)
Ref: Admission to the Final (New) Course under Regulation 29B.
I am a student who got enrolled for 3 years articleship training after passing my PE-II examination in Jan 2008. The regulations for students enrolling for articleship after Nov 2007 apply to me.
A large number of students belonging to my batch placed similarly will be put to a disadvantageous position when compared to students who enrolled before Nov 1st 2007. Also, our position cannot be compared to the students who join practical training after passing the CPT examination.
The main disadvantage our batch will be facing is that we will be allowed to write final examinations only in one attempt which falls nearer to the date of completion of articleship (pending 6 months of articleship). The previous batches, however, will be allowed the opportunity to attempt their final exam twice before completion of articleship (pending 12 months of articleship). Since such an opportunity has got significant implications in our careers, I wish to bring to your kind notice the issue for your kind consideration
I would like to bring to your kind attention to the relevant part of announcement no. Ancmnet/BOS/227/47/2007, which is reproduced hereunder:
Attention of the students is invited to para (v) of the Announcement: Ancment/BOS/227/06/2007 dated February 7, 2007 appended below. It is clarified that students who have registered for three years of articles with the date of commencement as 1st November, 2007 or before, would be eligible to appear in Final (Old) exam to be held in November, 2009 provided they would be serving the last twelve months of practical training on 1st November, 2009 and complying with the eligibility requirements laid down by the Board of Studies.
R DEVARAJAN
Director of Studies I/C
Introduction of Final Course under New Syllabus and other related Issues (Revised Guidelines)
Ancmnet/BOS/227/06/2007
February 7, 2007
(i) Final Course under New syllabus is introduced. Admission to the Final (New) Course under the Regulation 29B of the Chartered Accountants (Amendment) Regulations, 2006 will commence on and from February 1, 2007.
(ii) Existing students of Final (old) course may switch over to Final (New) course and continue with the existing scheme of articleship, if any, which they are undergoing. They will be provided a new set of study materials at a cost of Rs.1100.
(iii) Students, who have passed the Professional Education (Examination-II) / Intermediate Examination but not yet joined Final course and also not completed the articleship training, may join the Final (New) Course.
• Students who have undergone Professional Education (Course-II) with articleship but not yet completed the same, will continue the articleship under the same scheme which they are undergoing presently. They will be allowed to appear in the Final Examination under the new syllabus pending last six months of articleship training on or before the last day of the month preceding the month in which the examination is held.
• STUDENTS WHO HAVE UNDERGONE PROFESSIONAL EDUCATION (Course-II), WITHOUT ARTICLESHIP, WILL UNDERGO THREE YEARS OF ARTICLESHIP TRAINING AND THEY WILL BE ALLOWED TO APPEAR IN THE FINAL EXAMINATION UNDER THE NEW SYLLABUS PENDING LAST SIX MONTHS OF ARTICLESHIP TRAINING ON OR BEFORE THE LAST DAY OF THE MONTH PRECEDING THE MONTH IN WHICH THE EXAMINATION IS HELD.
They will be required to pay fees as given below:
Final Course – Without articleship Rs.8500
With articleship Rs.9000 (including articled registration fee of Rs.500)
(iv) Students who have passed Professional Education (Examination-II) / Intermediate Examination and who have completed articleship training may join Final (New) course under Regulation 29B of the Chartered Accountants (Amendment) Regulations, 2006 and appear in the first Final (New) Course Examination to be held in November, 2008. They will be required to pay a fee of Rs.8500.
(v) Admission to Final (old) course under Regulation 29A of the Chartered Accountants Regulations, 1988 will continue till October 31, 2007. Students who will join the same are required to pay the following fees:
Final Course – Without articleship Rs.4000
With articleship Rs.4600 “
The impact of this announcement can be seen as follows. Take 3 students, each studying in the OLD SCHEME i.e. 5 years 3 months scheme.
Student 1:
Pass PE-2 exam in Nov 2006,
Join articleship before April 2007,
Write CA final exams EITHER in May 2009, OR Nov 2009 as per the student's choice.
Student 2:
Pass PE-2 exam in May 2007,
Join articleship before Oct 2007,
Write CA final exams either in Nov 2009 under old syllabus OR May 2010 under the new syllabus. Again there is a choice.
Student 3:
Pass PE-2 exam in Nov 2007
Join articleship before April 2008,
Write CA final exams ONLY, ONLY, in Nov 2010. This student is not eligible to write in May 2010.
This student does not have a choice. While all previous batches under the old scheme are able to complete their final exams pending 12 months of articleship, these students and those passing out of PE-2 in May 2008 will not be extended that benefit.
The removal of this benefit seems unfair for the following reasons:
1. All the previous batches of PE-2 (before Nov 2007) would get TWO attempts to write their final exams before they complete their articleship. On the other hand, the Nov 2007 and May 2008 batches of PE-2 would be allowed just ONE attempt of the final exam before they complete their articleship. In these days of intense competition, an extra attempt without any loss of time is priceless. A loss of one attempt is a big disadvantage.
2. Students who passed out of PE-2 in May 2007 and before are allowed two attempts before they finish their articleship. But these batches of PE-2 students (i.e. Nov 2007 and May 2008) are not extended any benefit, thereby putting them at a disadvantage when compared to the previous batches. Moreover, these are the last group of students remaining under the old scheme, with the later batches being able to complete their course within 4 years (under the new scheme)
3. The students who attempt their Final exams pending 12 months of articleship would be able to better concentrate on the remaining period of 9 odd months of their articleship having freed their mind of the exam tension. That benefit will not accrue to this batch of students.
4. These students are essentially under the old scheme, the only difference being that they are giving their Finals under the new syllabus. Everything else about the scheme is the same. Yet they are being denied the benefits given to the earlier batches that write the Final Exam under the old syllabus.
5. These students, if allowed, will be able to pursue industrial training for the last 9 months of articleship as a choice which is considered a good opportunity.
I have interacted with many students about this, all of whom have shared their concern.
Prayer:
We are sure that the welfare of students is of high priority to the Council of ICAI. We earnestly request to kindly consider this hardship and permit the students passing out of PE-II and undergoing 3 years of articleship training thereafter and enrolling in the Final (New) Syllabus after 1st Nov 2007 to write the final exam while they serve the last twelve months of practical training.
Hundreds of students of our batch will be grateful to you for this kind gesture of sparing your time and energy.
Thank You.
Sincerely,
The Undersigned.
Subject: Unintended hardship to our batch of Final students(i.e. those who have written their PE-II exam in Nov 2007 or May 2008)
Ref: Admission to the Final (New) Course under Regulation 29B.
I am a student who got enrolled for 3 years articleship training after passing my PE-II examination in Jan 2008. The regulations for students enrolling for articleship after Nov 2007 apply to me.
A large number of students belonging to my batch placed similarly will be put to a disadvantageous position when compared to students who enrolled before Nov 1st 2007. Also, our position cannot be compared to the students who join practical training after passing the CPT examination.
The main disadvantage our batch will be facing is that we will be allowed to write final examinations only in one attempt which falls nearer to the date of completion of articleship (pending 6 months of articleship). The previous batches, however, will be allowed the opportunity to attempt their final exam twice before completion of articleship (pending 12 months of articleship). Since such an opportunity has got significant implications in our careers, I wish to bring to your kind notice the issue for your kind consideration
I would like to bring to your kind attention to the relevant part of announcement no. Ancmnet/BOS/227/47/2007, which is reproduced hereunder:
Attention of the students is invited to para (v) of the Announcement: Ancment/BOS/227/06/2007 dated February 7, 2007 appended below. It is clarified that students who have registered for three years of articles with the date of commencement as 1st November, 2007 or before, would be eligible to appear in Final (Old) exam to be held in November, 2009 provided they would be serving the last twelve months of practical training on 1st November, 2009 and complying with the eligibility requirements laid down by the Board of Studies.
R DEVARAJAN
Director of Studies I/C
Introduction of Final Course under New Syllabus and other related Issues (Revised Guidelines)
Ancmnet/BOS/227/06/2007
February 7, 2007
(i) Final Course under New syllabus is introduced. Admission to the Final (New) Course under the Regulation 29B of the Chartered Accountants (Amendment) Regulations, 2006 will commence on and from February 1, 2007.
(ii) Existing students of Final (old) course may switch over to Final (New) course and continue with the existing scheme of articleship, if any, which they are undergoing. They will be provided a new set of study materials at a cost of Rs.1100.
(iii) Students, who have passed the Professional Education (Examination-II) / Intermediate Examination but not yet joined Final course and also not completed the articleship training, may join the Final (New) Course.
• Students who have undergone Professional Education (Course-II) with articleship but not yet completed the same, will continue the articleship under the same scheme which they are undergoing presently. They will be allowed to appear in the Final Examination under the new syllabus pending last six months of articleship training on or before the last day of the month preceding the month in which the examination is held.
• STUDENTS WHO HAVE UNDERGONE PROFESSIONAL EDUCATION (Course-II), WITHOUT ARTICLESHIP, WILL UNDERGO THREE YEARS OF ARTICLESHIP TRAINING AND THEY WILL BE ALLOWED TO APPEAR IN THE FINAL EXAMINATION UNDER THE NEW SYLLABUS PENDING LAST SIX MONTHS OF ARTICLESHIP TRAINING ON OR BEFORE THE LAST DAY OF THE MONTH PRECEDING THE MONTH IN WHICH THE EXAMINATION IS HELD.
They will be required to pay fees as given below:
Final Course – Without articleship Rs.8500
With articleship Rs.9000 (including articled registration fee of Rs.500)
(iv) Students who have passed Professional Education (Examination-II) / Intermediate Examination and who have completed articleship training may join Final (New) course under Regulation 29B of the Chartered Accountants (Amendment) Regulations, 2006 and appear in the first Final (New) Course Examination to be held in November, 2008. They will be required to pay a fee of Rs.8500.
(v) Admission to Final (old) course under Regulation 29A of the Chartered Accountants Regulations, 1988 will continue till October 31, 2007. Students who will join the same are required to pay the following fees:
Final Course – Without articleship Rs.4000
With articleship Rs.4600 “
The impact of this announcement can be seen as follows. Take 3 students, each studying in the OLD SCHEME i.e. 5 years 3 months scheme.
Student 1:
Pass PE-2 exam in Nov 2006,
Join articleship before April 2007,
Write CA final exams EITHER in May 2009, OR Nov 2009 as per the student's choice.
Student 2:
Pass PE-2 exam in May 2007,
Join articleship before Oct 2007,
Write CA final exams either in Nov 2009 under old syllabus OR May 2010 under the new syllabus. Again there is a choice.
Student 3:
Pass PE-2 exam in Nov 2007
Join articleship before April 2008,
Write CA final exams ONLY, ONLY, in Nov 2010. This student is not eligible to write in May 2010.
This student does not have a choice. While all previous batches under the old scheme are able to complete their final exams pending 12 months of articleship, these students and those passing out of PE-2 in May 2008 will not be extended that benefit.
The removal of this benefit seems unfair for the following reasons:
1. All the previous batches of PE-2 (before Nov 2007) would get TWO attempts to write their final exams before they complete their articleship. On the other hand, the Nov 2007 and May 2008 batches of PE-2 would be allowed just ONE attempt of the final exam before they complete their articleship. In these days of intense competition, an extra attempt without any loss of time is priceless. A loss of one attempt is a big disadvantage.
2. Students who passed out of PE-2 in May 2007 and before are allowed two attempts before they finish their articleship. But these batches of PE-2 students (i.e. Nov 2007 and May 2008) are not extended any benefit, thereby putting them at a disadvantage when compared to the previous batches. Moreover, these are the last group of students remaining under the old scheme, with the later batches being able to complete their course within 4 years (under the new scheme)
3. The students who attempt their Final exams pending 12 months of articleship would be able to better concentrate on the remaining period of 9 odd months of their articleship having freed their mind of the exam tension. That benefit will not accrue to this batch of students.
4. These students are essentially under the old scheme, the only difference being that they are giving their Finals under the new syllabus. Everything else about the scheme is the same. Yet they are being denied the benefits given to the earlier batches that write the Final Exam under the old syllabus.
5. These students, if allowed, will be able to pursue industrial training for the last 9 months of articleship as a choice which is considered a good opportunity.
I have interacted with many students about this, all of whom have shared their concern.
Prayer:
We are sure that the welfare of students is of high priority to the Council of ICAI. We earnestly request to kindly consider this hardship and permit the students passing out of PE-II and undergoing 3 years of articleship training thereafter and enrolling in the Final (New) Syllabus after 1st Nov 2007 to write the final exam while they serve the last twelve months of practical training.
Hundreds of students of our batch will be grateful to you for this kind gesture of sparing your time and energy.
Thank You.
Sincerely,
The Undersigned.
NOTE TO STUDENTS:
I was advised by a few central council members to get as many endorsements as possible for this, to build a strong case. So i set up and online petition for this.
Here is the link. Please sign using your full name and DONT FORGET TO ENTER YOUR REGISTRATION NO IN THE COMMENTS SECTION. Please make sure you do that because there are many people who just wrote their names without any reference, so ICAI can be sure that a signature is valid only if there is a registration no to support it. If we get enough signatures for this, we can make something of it. AGAIN, PLEASE DONT FORGET TO ADD YOUR REGISTRATION NO IN THE COMMENTS SECTION. And ask any of your friends who are affected by this to sign as well. if they cannot sign it on their own, send me their registration nos and ill add their names to the list.
CAclubindia
