The Institute of Cost Accountants of India (ICMAI) has amended its guidelines imposing a condition on the Cost Accountants to undergo a six-day training before issuing or renewing the certificate of practice.
The notification said that “under the Regulation No. 10 of the Cost and Works Accountants Regulation, 1959, the Council of the Institute of Cost Accountants of India hereby issues the following conditions for issuing or renewing the certificate of practice.
i. A Cost Accountant is required to undergo mandatory training before applying for Certificate of Practice or within six months of getting the Certificate of Practice. The duration of the training will be for six days or 36 hours with course fees as may be fixed by the Council from time to time. Provided the period of 6 months can be increased by the Committee of the Continuing Professional Development of the Institute
These Guidelines are applicable from 1st February 2019.