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Chartered accountants (CA)

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Chartered accountants or CAs are professional accountants working in the fields of business, finance, auditing, taxation, financial and general management. Some are engaged in public practice work while others work in the private sector.

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (ICAI):

In India, Chartered Accountants are regulated by the Institute of Chartered Accountants of India (ICAI). It is a professional body established by an Act of Parliament for regulating the profession of Chartered Accountancy in the country. ICAI is recognised as a premier accounting body not only in the country but also globally

Chartered accountants' institutes require members to undertake a minimum level of examinations to be certified as CAs. Associate members of the ICAI are entitled to add the prefix CA to their names. Members who are in full-time practice, and have completed five years of practice, can use FCA.

HOW TO BECOME A CA:

Entry to the profession is by taking the CA Foundation Course after schooling (12th grade). Graduates may also undertake the profession by getting trained as an articled assistant for three years in a chartered firm before taking the Intermediate and then final exam.

EXAMINATIONS:

CA examinations are a four stage procedure mentioned as follows:

  • Any student who has passed class 10th or any course equivalent can apply for the Common Proficiency Course (CPC).
  • Post qualifying for the 10+2 exam, a student has to then qualify in CPT exam.
  • A minimum of 55% score is required for graduates/post graduates in commerce whereas other graduates or postgraduates require a minimum of 60% to apply for CA.
  • Students can only appear for the exam in the month of June/December exams if they register before 1st April or 1st October.
  • After clearing the CPT examination, students may register for IPCC examination. Candidates need to register 9 months prior to the exam and then complete a 100 hours of Information Technology Training before taking the exam.
  • Post qualifying IPCC Group 1 exam or both groups` exams, the candidate is eligible for registering for the article-ship under the supervision of a practicing chartered accountant. The period of article-ship is for 3 years.
  • Then comes the CA Final. Students need to appear for the Chartered Accountancy Final examination during the last six months of their ongoing article-ship and pass the CA final exams of both the groups. To qualify in the CA exams, you need to get 40% in each of the subjects and an aggregate of 50%.

ENROLLING AS A MEMBER:

Post all the examinations, when you successfully enroll yourself as a professional chartered accountant, you are all set and will be bestowed with the title of a “Chartered Accountant”.

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