Have you ever thought of the difficulty level for students preparing for Chartered Accountancy? To address the situation, the Institute of Chartered Accountants of India (ICAI) is planning to allow students who have done vocational courses to appear in the Common Proficiency Test (CPT).
This entrance exam allows to take up Chartered Accountancy as a profession. Currently only those students who have passed Class 12 with regular academic programmes are eligible to appear in the entrance-exam.
The new rule will expand the opportunities for students from various backgrounds. The council has decided to allow students who have completed Class 12 in vocational subjects or some other disciplines to take the entrance exam.
The council also plans to exempt graduates and postgraduates from the Commerce stream who cleared all exams with 55% marks. And has studied any of the three papers such as accounting, auditing and business laws from having to appear in the CPT. They will get direct entry to commence article training as they already understand the basic theories.
ICAI aims to introduce international rules and make CAs from India at par with the rest of the world. Once ICAI receives a nod from the Ministry of Commerce and Industry, the decisions will be implemented.