The institute of Chatered Accountants of India (ICAI) has revamped the CA course. The following changes will come into effect from 1st August 2012. The ICAI has scraped the much popular entry level exam CPT (Common Proficiency Test) and offered Direct Entry for candidates with certain qualifications as mentioned below. The Institute has also changed the eligibility criteria for CA course. The registration details, fee payment and transitional procedures will be announced by ICAI on 16th August 2012.
As per the proposed changes, the eligibility for exemption from the Common Proficiency Test (CPT) will be given for Graduates and Post Graduates. Candidates with following qualifications can directly register for CA course:
1) Graduates or Post Graduates in Commerce with minimum 55 percent aggregate marks. They should have studied any three papers of 100 marks each from Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management, Taxation, Costing, Business Administration or Management Accounting.
2) Any Graduate or Post Graduate with minimum 60 percent marks in aggregate.
3) Candidates who have passed the intermediate examination conducted by Institute of Chartered Accountants of India (ICAI) or by ICS (Institute of Company Secretaries of India).
Details of the changes and new regulations available at http://220.127.116.11/27507directca17034.pdf .