The Institute of Cost Accountants of India (ICWAI) has extended the time for CEP Credit Hours for the renewal of Certificate of Practice (COP) for the year 2019-20.
As per the Guidelines for Mandatory Training for all Members of The Institute under Continuing Education Programme, it is mandatory for the members holding Certificate of Practice (COP) to undergo minimum mandatory training of 15 hours per year commencing from 1st April to 31st March and 50 hours in a block of 3 years and for members above the age of 65 years it is 7 hours per year and 25 hours in a block of three years.
If the COP of members is not renewed for the year 2019-20 owing to shortfall in CEP hours, it might cause hardship to those members who thrive exclusively on practice notwithstanding the fact that compliance of the prescribed minimum requirement of CEP hours is mandatory for renewal of Certificate of Practice.
“In view of the above, it has been decided by the Council of the Institute to grant an extension up to 31st July 2019 to complete the requirement of CEP credit hours for renewal of COP of the members for the year 2019-20. However, for the CEP hours earned during the period 1st April 2019 to 31st July 2019, members are required to inform whether these CEP hours are to be accounted for the year 2018-19 or for the year 2019-20,” the Institute said in a statement.
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