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IPCC Prospectus

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IPCC Prospectus

Integrated Professional Competence Course


New scheme of theoretical education of the Chartered Accountancy Course


IPCC Prospectus

Integrated Professional Competence Course New Scheme of Theoretical Education of the Chartered Accountancy CourseInformation given in this prospectus is as per position as on December 1, 2008. Students are advised to visit the website of the Institute at www.icai.org from time to time for updation.

2008 All rights reserved The Institute of Chartered Accountants of India, New Delhi, India

http://www.icai.org E-mail: [email protected]

No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form, or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior permission, in writing, from the publisher.


Rs. 100 USD 10

Prepared and Published by Director of Studies The Institute of Chartered Accountants of India Post Box No. 36, A-94/4, Sector-58, NOIDA - 201301

Typeset & designed by Printed at: Vijayalakshmi Printing Works Pvt. Ltd. B-117, Sector-5, Noida, 9899452227 December, 2008, 10,000 Copiesii

IPCC Prospectus

MissionThe Indian Chartered Accountancy Profession will be the Valued Trustees of World Class Financial Competencies, Good Governance and Competitiveness.


IPCC Prospectus

To be among the keenest students of Chartered Accountancy anywhere in the world, in order to help Indian firms,companies and organizations leapfrog into the 21st century, with the highest standards of accountancy, audit, financial management, related services and corporate governance.

VisionCA Student



IPCC Prospectus

Contents1. 2. 3. 4. The Institute The Accounting Profession Educational wings of the Institute New scheme of education and training 4.1 4.2 4.3 Different stages in Chartered Accountancy Course Common Proficiency Test (CPT) Integrated Professional Competence Course (IPCC) 1 1 1 2 3 4 4 4 5 7 8 8 9 10 11 12 12 13 13 14 14 15 15 15 16 16v

4.3.1 Enrolment for Integrated Professional Competence Course and Fees 4.3.2 Orientation Programme 4.4 4.5 100 Hours Information Technology Training (ITT) Accounting Technician Course (ATC) Optional

4.5.1 Guidelines for imparting Accounting Technician Training work experience 4.5.2 Areas of training 4.6 4.7 4.8 4.9 4.10 5. 6. Admission to Integrated Professional Competence Examination, Fees and Syllabus Final (New) Course Schedule for the New Scheme Period of Articled Training Objective of the new scheme

Requirements for becoming a Chartered Accountant Integrated Professional Competence Course (IPCC) 6.1 6.2 6.3 6.4 6.5 6.6 Eligibility requirement for registration Registration and tuition fees Registration Procedure Subjects for study Study Package Modes of imparting theoretical education

IPCC Prospectus 6.7 6.8 6.9 6.10 6.11 7. Admission to Integrated Professional Competence Examination (IPCE) Requirements for passing the IPCE/ATE Scholarships for meritorious students Fee concession to disabled students Other fee concessions and scholarships 17 17 17 18 19 19 20 21 23 25 26 27 28 30 30 31 31 31 33 33 33 33 34 35 35 35

Practical Training / Work Experience / Articled Training 7.1 7.2 7.3 7.4 7.5 7.6 7.7 Objective of training programme Design of training programme Categories of work experience Providing effective work experience In-house theoretical training Stipend to articled assistants on or after June 1, 2006 Permission to pursue other courses of study including guidelines on working hours


100 Hours Information Technology Training 8.1 8.2 8.3 8.4 8.5 8.6 Registration for the scheme Duration Course materials Training details Certification 100 hours ITT for disabled students


Final (New) Course and admission to Final Examination 9.1 Requirements for passing the Final Examination


Course on General Management and Communication Skills 10.1 Exemption from payment of fees to disabled students for undergoing General Management and Communication Skills Course

11. 12.

Membership of the Institute Students Activities in Board of Studies


IPCC Prospectus 13. Opportunities for Chartered Accountants 13.1 13.2 13.3 13.4 14. 15. 16. 17. 18. 19. Independent professional practice Management consultancy services Opt for Industry / Government organisation Global Scenario 36 36 37 37 37 38 38 39 40 41 59

ICAI - IGNOU Memorandum of Understanding (MOU) ICAI - NSOU Memorandum of Understanding (MOU) Annexure I : Proposed Fees to be charged from the students registering for Integrated Professional Competence Course (IPCC)/Accounting Technician Course (ATC) Annexure II : Proposed Fees to be charged from old students registering for Integrated Professional Competence Course (IPCC)/Accounting Technician Course (ATC) Annexure III :Syllabus of Integrated Professional Competence Course (IPCC)/ Accounting Technician Course (ATC) Annexure IV: Accredited institutions for conducting oral coaching classes for Integrated Professional Competence Course (IPCC)/Accounting Technician Course (ATC) as on November 1, 2008 Annexure V : Paper-wise Exemption in IPCC/ATC available to old students of Intermediate/ Professional Education (Course II)/Professional Competence Course Annexure VI : Syllabus of 100 Hours Information Technology Training Why Chartered Accountancy Course Where to submit / despatch filled in application form

20. 21. 22. 23.

65 72 84 86


IPCC Prospectus


The InstituteThe Institute of Chartered Accountants of India (ICAI) is the premier professional accountancy body of the country, established in July, 1949 under the Chartered Accountants Act, 1949, enacted by the Parliament to regulate the profession of Chartered Accountancy in India. The Institute is governed by a Council in accordance with provisions of the Chartered Accountants Act, 1949 as amended by the Chartered Accountants (Amendment) Act, 2006 (No.9 of 2006) and the Chartered Accountants Regulations, 1988. The Council consists of 40 members of whom 32 are elected from among the members of the Institute and 8 are nominated by the Government of India. The Institute has its headquarters at New Delhi. In addition, it has five regional councils located in Mumbai, Chennai, Kolkata, Kanpur and New Delhi and 118 branches spread all over the country. The Institute has also 21 chapters outside India located in Abu Dhabi, Bahrain, Botswana, Doha, Dubai, Indonesia, Jeddah, Kuwait, London, Melbourne, Muscat, New York, Nairobi, Nigeria, Port Moresby(Papua New Guinea), Riyadh, Eastern Province (Saudi Arabia), Singapore, Sydney, Toronto and Zambia.



As part of its responsibility to regulate the profession of Chartered Accountancy, the Institute enrolls students for the Chartered Accountancy (CA) course, imparts theoretical education to them, requires the students of CA course to undergo practical training and monitors their training. Presently it has approx. 3,50,000 students on its roll in different stages of Chartered Accountancy curriculum. It also holds qualifying examinations for them and grants membership to successful candidates and certificates of practice to members intending to practice the profession.


The Accounting ProfessionOver the years, the Chartered Accountancy profession achieved rapid growth by virtue of quality professional services rendered by its members, and has come to occupy a prominent role in our economy and society. As against a meagre membership of 1,700 in 1949, today the membership of the Institute exceeds 1,50,000. Increasing responsibilities are being placed by the Government and the society on the members of the profession and their specialised knowledge and skills are being utilised in various fields of activities. Statutory recognition is given to the role of the members of the profession and their audit / certification is insisted upon for various purposes in different statutes. The Institute is playing a prominent role in the international accounting bodies by virtue of its membership and active involvement in the activities of International Federation of Accountants (IFAC), International Accounting Standards Board (IASB), Confederation of Asian and Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAFA).



Educational Wings of the InstituteThe Institute undertakes educational activities through its committees. The Institute has three educational wings, viz., the Board of Studies, the Continuing Professional Education Directorate and the Technical Directorate.1

IPCC Prospectus


The Board of Studies is responsible for formulating and implementing the policies and programmes relating to the education to students. The mission of the Board of Studies is to provide a strong foundation of knowledge, skills and professional values that enables them to grow as wholesome professionals and adapt to change throughout their professional career. The Continuing Professional Education Directorate is engaged in conducting continuing professional education for members, i.e. Chartered Accountants. It organises through the technical committees, conferences / seminars / residential courses in various parts of the country and abroad to enable the members to update and sharpen their professional knowledge and skills through the process of active interaction and open exchange of ideas and perspectives. It also conducts the following post-qualification courses: Management Accountancy Corporate Management Tax Management


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