Rules made by ICAI - Not in interest of the Nation

Ritesh (Advisory Services) (101 Points)

12 June 2010  

This is an interesting mail forwarded by my friend to HRD Ministry charging ICAI for making rules against the interest of the nation:

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Dear sir,

The following are the gross charges upon which the council of ICAI is not responding to students properly and requires a quick intervention from Hon'ble HRD Ministry:

  • No Permission to pursue more than one additional course

The ICAI has clarified time and again and has issued many notifications and circulars that a CA student is not allowed to pursue any other course (exception - one additional course) during the tenure of his/her articleship. 

It is to be noted that articleship is a tenure of 3.5 years during which time a student can pursue many correspondence courses like CS, CWA, CFA, MBA - IGNOU etc. However restricting the number of courses to only 1 is not respectable at all. It contravenes our right to education. Further, the institute cannot have any right over what a student does apart from his regular working hours and CA Exams.

Thus at gross level, We the students of CA course, request HRD ministry to look into the matter as an urgent issue. This is very much needed as the notifications issued by ICAI puts down the development of human resources, which is not in the interest of the nation.

  • No Permission to write CA final exam prior to completion of articleship (Unlike any other scheme which was in existence earlier)

As known to one and all, the CA Final is known to be one of the toughest professional qualification one can get. Generally, the pass percentage ranges from 8% to 15%.

Previously under the scheme of PE II, the tenure of articleship was only 3 years and they were allowed to write CA Final exam during the last 6 months of their articleship. However under the scheme of PCC, the articleship period was increased to 3.5 years and students are not even allowed to write their CA final exam before completion of their articleship.

Further, another scheme is not started with articleship period of 3 years - IPCC, and even in new scheme the students are not allowed to write exams before completion of their articleship.

It is to be noted that there exists a huge gap between demand and supply of professionals in our nation. Thus at gross level again, the recommendations and rules and regulations framed by the ICAI are not in the interest of the growth of our nation.

The above facts are very critical and requires an immediate action from the ICAI. However, there has been no response from the governing body. The ICAI formed a committee for consideration of such issues, but it has been more than about 1.5 years for them to understand and respond to such issues. It is a matter of shame that the ICAI which is supposed to be producing professionals fails to understand the requirement of the nation.

I hereby request the Hon'ble Ministry to take immediate action.