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Conversion ipcc

prasad8410 (Internal Audit Assistant) (93 Points)

07 February 2013

Hi all,

One of my friend has registered the IPCC in the month november 2011, now he wants too convert to "new direct entry scheme of IPCC"..his sole intention is to start with articleship without passing Ist group of IPCC..can he do so...????

prior to his age concern he is not able to motivate in CA career and also due to his family finacial staus is not stable..he is very much interested in CA..

its urgent!!!

Thanks for ur valuable information in advance..

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CA AYUSH AGRAWAL (Kolkata-Pune-Mumbai) (26986 Points)
Replied 07 February 2013

This is Complete Notification:-

ICAI has announced the rules for direct entry in to the articleship and IPCC for students who have passed degree examination . The announcement regarding this can be downloaded directly from :https://220.227.161.86/27616bos-directca17162b.pdf

The announcement is as follows :

1
IMPORTANT ANNOUNCEMENT
BoS/Announcement/227/12 (1) Date: 16th August, 2012

Sub: Direct admission to the Chartered Accountancy Course - Exemption frompassing Common Proficiency Test (CPT) to certain categories of students.
Pursuant to Notification No. 1-CA(7)/145/2012 dated 1st August, 2012 published in the Gazette of India notifying amendments made to the Chartered Accountants Regulations, 1988, the following categories of students shall be exempted from passing the Common Proficiency Test (CPT) and such students with effect from 1st August, 2012 shall be eligible for direct admission to the Chartered Accountancy Course. Applicants who fulfil the requirements, as given below, may register for the Intermediate (Integrated Professional Competence) Course by downloading “Registration Form for admission to theIntermediate (Integrated Professional Competence) Course under Direct Entry Scheme” by submitting the filled-in applications to respective Offices of the ICAI as mentioned in the application form. (Application Form will be available from 17th August, 2012)
1. Direct Entry to Chartered Accountancy Course:
Exempted Categories:
The following categories of students shall be exempted from passing the Common
Proficiency Test (CPT):-
(A) Graduates or Post Graduates in Commerce having secured in aggregate a minimum of 55% of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University) by studying any three papers of 100 marks each out of Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing,
Business Administration or Management Accounting;

OR
Graduates or Post Graduates other than those falling under Commerce stream mentioned above having secured in aggregate a minimum of 60% of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University).

Explanation:
(a) for calculating the percentage of marks, the marks secured in subjects in which a person is required by the University (including Open University) to obtain only pass marks and for which no special credit is given for higher marks, shall be ignored; and (b) any fraction of half or more shall be rounded up to the next whole number
2
Provisional Registration: Students who are pursuing the Final year of Graduation Course shall be eligible for provisionalregistration to the Intermediate (Integrated Professional Competence) Course. Such students would be required to submit satisfactory proof of having passed the graduation examination with the specified percentage of marks within six months, from the date of appearance in the final year graduation examination (i.e. from the day of commencement of theexamination). During the period of provisional registration, a student can undergo and complete Information Technology Training (ITT) and Orientation Course. It is clarified that in their case, the practical training shall commence only on becoming a Graduate with specified percentage of marks. Such students shall be eligible for appearing in the Intermediate (Integrated Professional Competence) Examination on completion of nine months of practical training. If such students fail to produce the proof within the aforesaid period, his provisional registration shall stand cancelled and the registration and other fees, as the case may be, paid by him shall not be refunded/ adjusted and no credit shall also be given for the theoretical education undergone.
OR
(B) Candidates who have passed the Intermediate level examination or its equivalent examination by whatever name called conducted by The Institute of Cost Accountants of India or by The Institute of Company Secretaries of India.

2. Admission to Practical Training (Articled Training):
(i) Students covered under the category mentioned at (A) above, i.e. Commerce Graduates or Post Graduates or Non-Commerce Graduates or Post Graduates
with specified percentage of marks shall be eligible for admission to three years articled training, on completion of -
(a) Information Technology Training; and
(b) Orientation Course
(ii) Students covered under category (B) above, i.e. those who have passed Intermediate level examination of The Institute of Cost Accountants of India or The Institute of Company Secretaries of India shall be eligible for admission to three years articled training on -
(a) Passing of 1st Group or Both Groups of Intermediate (Integrated Professional Competence) Examination; or Accounting Technician level Examination;
(b) Completion of Information Technology Training; and
(c) Completion of Orientation Course
3. Eligibility to appear in the Intermediate (Integrated Professional
Competence) Examination:
(i) Applicable for students falling under Category (A) above

A candidate shall be eligible for admission to the Intermediate (Integrated
Professional Competence) Examination if he –
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(a) is registered for the Intermediate (Integrated Professional Competence)
Course; and

(b) has completed nine months of practical training (including study course for a period of eight months which shall commence from the date of
registration to the Course).
(ii) Applicable for students falling under Category (B) above
A candidate shall be eligible for admission to the Intermediate (Integrated Professional Competence) Examination if he –
(a) is registered for the Intermediate (Integrated Professional Competence)
Course; and
(b) has undergone a study course for a period of eight months commencing from the date of registration to the Course.
Director, Board of Studies
===========

ANNOUNCEMENT REGARDING RELAXATION OF NINE MONTHS PERIOD FOR MAY 2013 ATTEMPTS

IMPORTANT ANNOUNCEMENT
BoS/Announcement/227/12 (2) Date: 16th August, 2012
Sub: Relaxation in Eligibility Criteria for students registering upto 30th September, 2012 under the Direct Entry Scheme – Eligible to appear in Intermediate (Integrated Professional Competence) Examination to be held in May, 2013.
The Council, in order to mitigate the hardships being faced by the students registering under Direct Entry Scheme to Chartered Accountancy Course upto 30th September, 2012, has relaxed the eligibility criteria as a one time dispensation, as under, so as to be eligible to appear in the Intermediate (Integrated Professional Competence) Examination to be held in May, 2013.

“The Council has resolved as under -
By virtue of powers vested under Regulation 205 of the Chartered Accountants Regulations, 1988, the Council of TheInstitute of Chartered Accountants of India hereby resolves that the eligibility requirement(s), inter alia, for the students registering under the Direct Entry Scheme for the Intermediate (IPC) Course till 30th September, 2012, shall be as under, so as to become eligible to appear in the Intermediate (IPC) Examination to be held in May, 2013:-
 Students registered for the articled training till 30th September, 2012 and have also completed Orientation Course andInformation Technology Training (ITT) latest by 31st March, 2013.
 Such students shall be eligible to appear in the Intermediate (IPC) Examination to be held in May, 2013 by completing 7 months of articled training and study course
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concurrently, instead of 9 months of articled training and 8 months of study course respectively.
 Students registered for Intermediate (IPC) Course by passing Intermediate level examination of The Institute of Cost Accountants of India/ The Institute of Company Secretaries of India shall have to undergo 7 months of study course instead of 8 months as prescribed under Regulations, so as to become eligible to appear in the May, 2013 Examination”.

Refer the original announcement from the link on top of this post for further details regarding Fee structure and other information .

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