The Institute of Chartered Accountants of India (ICAI) announced a significant relaxation for students under the Old Scheme of Education and Training, aimed at addressing challenges posed by the implementation of the New Scheme of Education and Training, including the Conversion (Transition) Scheme. As per the announcement the relaxation pertains to three categories of students.
- Students who have cleared either of the groups of Intermediate Examination under Old Scheme of Education and Training be allowed to opt for 3 years of Practical Training latest by 30th September 2023 and may submit the Article Registration Form within 30 days’ time only and no form would be accepted, thereafter, even with condonation fees.
- Intermediate Direct Entry Students who have registered / provisionally registered in the Intermediate Course under Old Scheme, on submission of satisfactory proof of having passed the graduation examination with the minimum marks as provided in sub-regulation (4) of Regulation 28F and on successful completion of ICITSS Course as provided in Regulation 51 (D), may commence their 3 years of Practical Training latest by 30th September 2023 and may submit the Article Registration Form within 30 days’ time only and no form would be accepted, thereafter, even with condonation fees.
- Such students who originally registered for Intermediate or its equivalent Course through CPT/Foundation Route and appeared in Intermediate or its equivalent Examination(s) but unable to pass the said examination(s) and later on after graduation shifted to Direct Entry Scheme, be exempt for the eligibility criteria of completion of 9 months of Practical Training for appearing in November, 2023 Intermediate Examinations but have to commence their 3 years of Practical Training, if interested, by 30th September, 2023 and may submit the Article Registration Form within 30 days’ time only and no form would be accepted, thereafter, even with condonation fees.
The announcement also specified that the above relaxations on account of requirement of Regulations 45 & 50 in the New Scheme of Education and Training be given as a one-time measure only. The Director of the Board of Studies at ICAI has issued this directive to alleviate the difficulties faced by students under the Old Scheme, providing them with more flexibility and options for pursuing their Practical Training.
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