The Institute of Chartered Accountants of India (ICAI) has notified Draft Regulations of the Chartered Accountants (2nd Amendment) Regulations, 2022 proposing to reduce the time period of mandatory articleship to two years from the current 3 years.
As Per Draft Regulations CA Articleship Period to be reduced from the existing 3 years to 2 years. Currently, CA Students to undergo Three years of Mandatory Articleship Training under Chartered Accountant in Practice. It is Mandatory for CA Students to do Three years of Articleship currently.
As per the Proposed changes, One Year of Post Qualification Training Under Chartered Accountant in Practice before taking COP and Two years of Articleship is Mandatory.
The draft notification provided that “In regulation 50,-
(i) In clause (ii), for the words ―three years, the words ―two years shall be substituted;
(ii) For the proviso to clause (ii), the following proviso shall be substituted.”
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