COVID-19 Lockdown: ICAI’s initiative for Members, Students and Firms

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The Institute of Chartered Accountants of India (ICAI) recently highlighted the glimpse of activities specially undertaken during the lockdown period with the overall objective of enhancing learning, providing guidance or facilitating processes for the benefit of its members, students and firms to build their capabilities and in-turn serve the country with the Motto “Partner in Nation Building”.

“Various steps and initiatives undertaken with the guidance and support of all members of Council have been widely acknowledged and appreciated by one and all. With our consistent efforts and timely response, we are able to reach and connect with the different segments of our membership be it practitioners, industry, public service, entrepreneurship, senior CAs, or women. We have taken initiatives considering the requirements and expectations of each segment of the profession. Needless to say that ICAI is expected to forgo more than 100 crores of receipt from Members and students in the form of highly subsidized certificate courses, availability of free CPE Hours, virtual courses/classes, scholarships, etc. to stand together in the hour of crisis,” the ICAI said.

Keeping in view the welfare of its members the Institute undertook activities such as it ensured online learning of members without any cost, structured CPE Hour without any charges, webinars on contemporary and emerging topics, the concession for a late fee in the submission of forms by members till 30th June 2020 without any condonation fee, a large number of application forms of members and students have been processed through online facility given at SSP, initiated the process of establishing National Call Centre and promote e-governance by providing Digi–Locker facility and allowed Programme Organising Units (PoUs) of ICAI to organize Virtual CPE Meeting providing Structured CPE Hours without any fee being charged till August 2020.

Further, while keeping in mind the welfare of the students in the tough time the Institute undertook activities such as earmarked 100 crores for the enhanced scholarship, allowed provisional admission to Foundation course to Class XII students, Treated physical absence from training as part of articled training for those articled assistants who were on work on the day lockdown was announced, allowed submitting all application forms by students till 30th June 2020 without any condonation fee, Provided Virtual AICITSS (Adv.IT/MCS) platform, E-books on digital learning hub, Launched Live Revisionary Classes for intermediate and final students appearing for July 2020 examination free of cost, Online Mock Tests of students who would be appearing for the forthcoming July examination and Developed Industrial Training Portal which will facilitate our students to enhance their capabilities.

The Institute in order to safeguard firm’s interest undertook activities such as for the Members whose Membership and COP got deactivated being unable to submit restoration applications due to lockdown, the process reopened even till 31st May 2020 for retrospective restoration, Developed special program on Digital hub to develop capacity on Forensic tools for effective utilization on Assurance and professional assignments, etc.