ICMAI Amends CPE Guidelines: Mandates 15 Hours Annual Requirement for CoP-Holding Members Below 65 Years [Read Notification]

The Institute ofCost Accountants of India (ICMAI) has issued a notice amending the Guidelines for Members under Continuing Professional Education (CPE), 2024, now mandating 15 hours of annual CPE requirement for members holding Certificate of Practice(CoP) below the age of 65 years amongst a host of other requirements.

The amendment was notified pursuant to the decision taken at the 367th Council Meeting, and is brought into effect immediately.

As per the revised framework, members holding CoP below 65 years are required to complete 15 CPE hours annually, out of which a minimum of 10 hours must be through structured learning activities; the remaining 5 hours can be fulfilled through either structured or unstructured modes.

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For members above the age of 65 years holding CoP, the annual requirement has been fixed at 8 CPE hours, with at least 6 hours through structured learning and the balance 2 hours through flexible modes.

Members who do not possess CoP are recommended to complete 8 hours of CPE annually.

The Institute has further introduced a block system of compliance, requiring members to complete prescribed CPE hours over a period of four years.

For the first block spanning from 2024-25 to 2027-28, members holding CoP below 65 years are required to complete a total of 90 CPE hours whereas members above 65 years and those not holding CoP must complete 46 hours during the same period.

ICMAI has further relaxed the minimum annual CPE requirement, stating that the requirements will not be strictly enforced for the initial two years of the first block - namely 2024-25 and 2025-26. The stipulation regarding minimum yearly hours will apply from 2026-27 onwards.

The guidelines also clarify that members holding CoP for part of the year will be exempt from CPE requirements for that period, and training may be undertaken through both physical and online modes.

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The Institute has cautioned its members that failing to comply with the newly prescribed CPE requirements will be viewed strictly and may result in discontinuation of the Certificate of Practice.

The notice has been issued under the hand of CMA Dr. Debaprosanna Nandy - Secretary (Officiating).

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