ICAI issues Details of Special Examination for Members of Foreign Accounting Bodies which signed MRA/MOU with ICAI

The Institute of Chartered Accountants of India ( ICAI ) has recently released details for a Special Examination designed exclusively for Members of Foreign Accounting Bodies under Mutual Recognition Agreements ( MRA ) or Memorandum of Understanding ( MoU ). The Institute of Chartered Accountants of India ( ICAI ) is a statutory body established by an Act of Parliament, dedicated to regulating the profession of Chartered Accountancy in India. Here's a comprehensive overview of the key information: 1. Important Dates and Timings: - Last Date for Application: 22nd February 2024 - Examination Dates: 24th to 28th June 2024 - Examination Timing: 2:00 P.M. – 5:00 P.M. ( IST ) with a 15-minute advance reading time for the question paper. 2. Application Procedure: - Applicants are urged to thoroughly read and adhere to the provided instructions when completing the form. - The last date for form submission is 22nd February 2024. - Admit cards must be submitted along with the examination application form. - Applications received after the deadline will not be considered. 3. Examination Details: - Examination Center: Noida ( Uttar Pradesh ), India - Fees: Non-refundable; candidates applying for the second time and onward are required to remit the examination fees again. 4. Application Submission Guidelines: - Application forms must be sent via Speed Post/Registered Post in the special envelope attached to the Examination Form. - Receipts issued by the post office should be retained until the Admit Card is received. - Application forms must not be sent through private courier services. - Submission to regional/branch offices of the Institute is not permitted. - Incomplete forms will not be entertained. 5. Admission Requirements: - No candidate will be admitted without prior registration with the ICAI and the issuance of a registration letter. 6. Subjects for Foreign Accounting Bodies: - The subjects vary based on the Accounting Body, such as CPA Australia, CPA Ireland, CPA Canada, SAICA, ICAEW, ICAN, MICPA, and CAANZ. (a) CPA Australia Members are required to pass the following subjects: (i) Corporate & Allied Laws (ii) Taxation (iii) Advanced Auditing and Professional Ethics (Not applicable if they had studied Assurance Services & Auditing (Pre 2010) or Advance Auditing and Assurance (Post 2010) in CPA Program.) (iv) Financial Reporting (Not applicable if they had studied Financial Reporting & Disclosure (Pre 2010) or Financial Reporting (post 2010) in CPA Program). (b) CPA – Ireland Members are required to pass the following subjects: (i) Corporate and Allied Laws (ii) Direct and Indirect Taxes (iii) Strategic Financial Management (Not applicable if they had studied Strategic Corporate Finance as an elective in CPA examinations.) (iv) Advanced Auditing & Professional Ethics (Not applicable if they had studied Audit Practice & Assurance Services in CPA examinations.) (c) CPA - Canadian Members are required to pass the following subjects: (i) Corporate and Allied Laws (ii) Taxation (d) SAICA Members are required to pass the following subjects: (i) Company Law (ii) Taxation (ii) Information Systems Control and Audit (e) ICAEW Members are required to pass the following subjects: (i) Auditing and Assurance (ii) Law, Ethics and Communication (iii) Information Technology and Strategic Management (iv) Direct Tax Laws and (v) Indirect Tax Laws (f) ICAN Members are the required to pass following subjects: (i) Corporate Laws and Other Economic Laws (ii) Direct Tax Laws and International Taxation (iii) Advanced Indirect Tax Laws (g) MICPA Members are required to pass the following subjects: (i) Corporate and Allied Laws (ii) Taxation (h) CAANZ Members are required to pass the following subjects: (i) Indian Law (ii) Taxation (iii) Ethics 7. Application Form and Affirmation: - Candidates must fill out the Examination Application Form with accurate details. - An affirmation is required, confirming the completeness and accuracy of information, along with an undertaking to abide by the examination rules. The application form be sent by Speed Post / Registered Post only in the special envelope attached to the Examination Form to the Director ( Exams ), The Institute of Chartered Accountants of India, “ICAI Bhawan”, Indraprastha Marg, New Delhi – 110 002. Candidates are advised to retain the receipt issued by the Post Office till the receipt of the Admit Card. Candidates are advised not to send the application through a private courier. Candidates should not submit/send the application form to regional/branch offices of the Institute. Incomplete examination application form will not be entertained. This Special Examination is a significant opportunity for members of Foreign Accounting Bodies to showcase their expertise and gain recognition. Prospective candidates are encouraged to apply well before the deadline to avoid any complications. For further details, candidates can refer to the official announcement by the ICAI by clicking the blue button below. Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates

ICAI issues Details of Special Examination for Members of Foreign Accounting Bodies which signed MRA/MOU with ICAI

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