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Chartered Accountants Regulations, 2022: Highlights Of Proposed Changes By ICAI In CA Course

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Council of the ICAI has released a draft set of proposed amendments in certain clauses of the Chartered Accountants (CA) Regulations, 1988, for review and comments/ suggestions for taking into consideration before formal finalization thereof, i.e. ‘the Chartered Accountants (2nd Amendment) Regulations, 2022‘.

Key highlights of changes proposed by ICAI are here: 


  • A person who wishes to take COP must take 1-year post qualification Experience under Practicing FCA to apply for COP. This experience should be in the last 5 years.

  • Registration for Foundation can now be done after passing 10th also But needs to register on or before 31-Dec to give exams in May Attempt.

  • A candidate who has passed Intermediate Exams of CWA, CS is given exemption from Foundation Examination.

  • ATC (Accounting Technician Course) has now been changed to BAA(Business Accounting Associate) Certificate.

  • Negative Marking in MCQ-based Questions to include the essence of Competitive Papers (in Both Intermediate & Final).

  • Minimum Articleship Stipend increased (Double from current rate).

  • Articleship Period reduced from 3 years to 2 years.

  • Industrial Training Stipend to be a minimum of Rs 15,000.

  • Minimum 50% marks required in Online Self-Paced Modules mandatory for registering in Final Course.

  • A member who is residing abroad, may complete his 1-year practical experience training required for COP under other recognized Accounting Bodies Member.

  • 12 leaves in a year allowed except for Public Holidays and Sundays during the Articleship.

 


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TaxGyata Team

TaxGyata Team