ICAI Issues Updated CPE Requirements for COP and Non-COP Members
ICAI has updated its CPE requirements for both COP and Non-COP members, introducing clearer annual credit obligations and revised rules for structured and unstructured learning.
The Institute of Chartered Accountants of India (ICAI) has released updated Continuing Professional Education (CPE) requirements for all members starting from the calendar year 2023. These rules explain how many learning hours members must complete each year and which categories of members are exempt.
CPE hours help members stay updated with professional knowledge, new standards, and ethical requirements. ICAI has now clarified the number of hours needed for different types of members.
1. Members Below 60 Years Who Hold COP
Members who hold a Certificate of Practice (COP) and are younger than 60 must complete:
- 40 CPE hours every year.
- At least 20 hours must be Structured, meaning they are completed through seminars, webinars, or official ICAI programs.
- The remaining 20 hours can be Structured or Unstructured as per their choice.
- ICAI has also set aside 4 Structured hours (2 hours on Standards on Auditing and 2 hours on Code of Ethics). These can be done any time during the year.
2. Members Below 60 Years Without COP and All Members Living Abroad
These members must complete:
- 20 CPE hours per year, in any combination of Structured or Unstructured learning.
3. Members Aged 60 Years and Above Holding COP
These members must complete:
- 30 CPE hours per year, Structured or Unstructured.
4. Members Who Are Exempt
ICAI provides exemptions for certain categories such as:
- Members aged 60 or above who do not hold COP
- New members (exempt for their first year)
- MPs, MLAs, judges, civil servants, military personnel
- Entrepreneurs running manufacturing businesses
- Members with certain medical conditions or disabilities
- Female members can get a one-year exemption for pregnancy
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5. Clarification on Online Hours
Out of the required Structured hours, only 4 hours can be completed online through the Digital Learning Hub. Any additional online hours will be counted as Unstructured.
The changes provide more clarity on what ICAI expects from members and help ensure that professionals remain updated with auditing standards and ethical guidelines. The rules also take into account the needs of various member groups by offering flexibility and exemptions where necessary.
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