Disciplinary - Hong Kong Institute Of Certified Public Accountants: Fill & Download for Free

Hello dear... here is the answer to your query :-Qualification :-A person is eligible to apply for membership either by passing all three levels of examinations prescribed by ICAI and completing three years of practical training or by availing themselves of exemptions under mutual recognition agreements (MRAs).[1]Examination :-Flowchart on how to become a Chartered Accountant by the Examination routeThe CA course is designed to combine theoretical study with practical training. The Chartered Accountancy course is considered to be one of the most rigorous professional courses in India with only 8.0–16.0% of the students passing [2] in every attempt. For instance, in the November 2014 CA Final examination, the pass percentage in both group was merely 8.23%.[3] The institute has 874,694 students, studying various levels of the Chartered Accountancy Course.[4] The Chartered Accountancy examinations are divided into three levels.[5] CPT covers four basic subjects viz. Fundamentals of Accounting, Mercantile Laws, Economics and Quantitative Aptitude. Fundamentals of Accounting carries 60 marks, Mercantile Laws carries 40 marks and Economics & Quantitative Aptitude carries 50 marks each. A person can register for CPT after completing Grade 10 and take the exam after completing High School (Grade 12). Every incorrect answer on the CPT exam carries a 0.25 negative mark. A candidate is considered to have cleared CPT if he/she obtains in a sitting 30% in each of the 4 sections and a 50.00% aggregate in the entire examination.[6] This amendment was enforced by ICAI on 16 August 2012.The amendment was made public vide ICAI's website notification. CPT exams are held in June and December in paper pencil mode. Mock test/Model test papers are available on the institute website.[7] IPCC or Integrated Professional Competence Course is the second level of Chartered Accountancy examinations. A person can take the IPCC Examination after passing CPT and nine months of study. IPCC has two groups of seven subjects. Group – I consists of four subjects and Group – II of three subjects.Group I:Paper 1 : AccountingPaper 2 : Business Laws, Ethics and CommunicationPaper 3 : Cost Accounting and Financial ManagementPaper 4 : TaxationGroup II:Paper 5 : Advanced AccountingPaper 6 : Auditing and AssurancePaper 7 : Information Technology and Strategic ManagementA passing grade in IPCC is awarded if the candidate obtains 40% marks in each subject (a subject is attributed 100 marks) and an aggregate of 50% in the aggregate in each group. Benefit of set-off is also available if the candidate appears for both groups together and obtains 50% collectively in both groups, even if he fails to obtain an individual aggregate of 50% in the each group independently.CA Final Examination is the last and final level of Chartered Accountancy Examinations. It is considered as one of the toughest exam in the world.[8] Any person who has passed both the groups of IPCC, during the last six months of articleship can take the Final Examination. This exam consists of two groups of four subjects each.Group I:Paper 1 : Financial Reporting,Paper 2 : Strategic Financial Management,Paper 3 : Advanced Auditing and Professional Ethics,Paper 4 : Corporate and Allied Laws,Group II:Paper 5 : Advanced Management Accounting,Paper 6 : Information Systems Control and Audit,Paper 7 : Direct Tax LawsPaper 8 : Indirect Tax Laws.The passing grade for this exam is the same as the second level, i.e. IPCC, as mentioned above.ICAI conducts CPT exams in June and December, IPCC and Final examinations in May and November each year. Examinations are conducted in major cities in India and other countries such as Abu Dhabi (U.A.E.), Dubai (U.A.E.) and Kathmandu (Nepal). ICAI updates the content and format of examinations periodically keeping in view the technical progress and changes in practice of the profession. The ICAI last revised its training course for membership in 2008.[9]Several institutions conduct online and offline coaching classes for the CA.After passing Group – I of IPCC, a candidate must undergo a rigorous 3-year on-the-job training as article or audit assistant, articleship. Only members in practice are entitled to engage such assistants. The Institute strictly governs through Regulations,[1] the stipends, working hours and working conditions of such assistants. Articles provide CA firms a steady supply of motivated assistants while providing the students with invaluable on-the-job training. Audits are normally conducted by partnering senior and junior assistants with a supervising partner of the firm. This provides steady increase in the depth and variety of experience to the Articled Assistants. During the last year of articleship, a student may opt for industrial training instead. Industrial training can be for a period of 9 to 12 months and has to be completed under the supervision of an existing CA member employee of a financial, commercial or industrial organization. Over the years several cases of abuse of the system such as articles being made to work long hours, work without pay/delayed payments, or being made to perform personal tasks for their Principals, some faking their training (also called dummy articles, i.e. not going to the office but spending time studying at home or in coaching classes) led the institute to start enforcement of rules and regulations in the interest of the profession.[10] Chartered Accountants may not provide coaching classes during working hours, as students are expected to apply themselves wholly to practical training in that time.[11] An article may complain to the Disciplinary Committee against a member or firm for non-compliance with regulations.GMCS :-General Management and Communication Skills Course or GMCS is a 15-day mandatory course and was introduced in 2002 to improve business communication, presentation and interpersonal skills of Chartered Accountants. Completion of the course is a pre-requisite for obtaining membership and can be taken during the last 12 months of Articleship, after completing the IPCC examinations.Earlier a student was required to complete only one 15 Day GMCS Session to be eligible to apply for membership of ICAI but, after April 2012, 2 GMCS courses of 15 days each have been made mandatory.[12] The 1st 15-day GMCS Course is required to be completed in the 1st year of articleship and the 2nd 15-day GMCS Course is required to be completed after completion of 18 months of articleship but before the completion of Articleship Training.For the students who have joined the articleship training on or after 1 May 2012 have to be successfully complete GMCS I within the first year of the training. They will be eligible for GMCS II from the completion of one and half-year of training period but before completion of the 3 years training period......Advanced ITT :-Advanced Information Technology Training should be done during third year of articleship but before appearing in Final Examination. Applicable for students registered on or after February 1, 2013 (initially August 1, 2012 but postponed).[13] Hence students who commenced their articleship on or after February 1, 2013 and are eligible to appear in November, 2015 Examination have to undergo this training.CPT Exemption for Graduates :-With effect from 1 August 2012 onward, CPT is exempted for the following class of Individuals[14]Commerce Graduates with more than 55% marks from a recognised universityNon-Commerce Graduates with more than 60% Marks and who has passed the Intermediate Exam conducted by the Institute of Cost Accountants of India or by the Institute of Company Secretaries of IndiaThose Candidates who are exempted from clearing CPT Exam[15] can also directly register for articleship without clearing IPCC Group 1 as is the case with those candidates who have registered for the CA Course through the CPT Route.Other qualifications and certifications :-With the introduction of IPCC scheme of exams, ICAI also introduced the accounting technician course.[9] Any person who passes Group-I of IPCC and completes one year of practical training under a member can apply for an Accounting Technician Certification. After obtaining the certificate the person can designate himself as an Accounting Technician. This Certification was introduced to help a large number of students who were unable to complete the CA Final Examinations and obtain membership.ICAI has entered into agreements with various universities such as the Indira Gandhi National Open University, Bharathiar University and Netaji Subhas Open University to help CA students acquire a Bachelor of Commerce (B.Com) degree, writing a few papers to supplement the IPCC.Mutual recognition agreements :-The second method of obtaining membership is through mutual recognition agreements or MRAs. ICAI has entered into MRAs with several institutes globally, of equivalent standing, to enable members of those institutes to acquire membership of ICAI and to enable the members of ICAI to gain membership of its counterpart in other country . This is done by granting some exemptions in the regular scheme of examination and training. ICAI currently has MRAs with, Institute of Chartered Accountants in England and Wales,[16] the Institute of Chartered Accountants in Australia, CPA Australia and Institute of Certified Public Accountants in Ireland.[17] ICAI is also in process of negotiating MRAs with, Hong Kong Institute of Certified Public Accountants, Canadian Institute of Chartered Accountants and Certified General Accountants Association of Canada.Courses for members:-ICAI provides various professional certifications for its members. Some of them are as follows:Certificate Courses on Enterprise risk management, Corporate governance, International taxation, Forensic accounting & Fraud detection using IT [18] & CAATs, International Financial Reporting Standards, Forex and Treasury Management, Derivatives, Valuation and Arbitration.Post Qualification Courses such as Diploma Information Systems Audit (ISA), CPE Course on Computer Accounting and Auditing Techniques (CAAT), Trade Laws & World Trade Organisation (ITL & WTO), ERP Courses on SAP FA & MA Module, Microsoft Dynamics NAV.Placement:-The Institute maintains a placement portal on its web site for qualified members and partially qualified students. This is supplemented with campus placement events and advertising through its professional journals and website.Hope it helps!!!