Direct Admission of Graduates In CA course Exemption from CPT

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Direct Admission of Graduates In CA course Exemption from CPT

DIRECT ENTRY TO CHARTERED ACCOUNTANCY COURSE – AMENDMENTS TO THE CHARTERED ACCOUNTANTS REGULATIONS, 1988

This is to inform all concerned that with the issuance of the Notification No. 1-CA(7)/145/2012 on August 1, 2012, the provisions relating to Direct Entry Scheme for Graduates/Post Graduates, etc., with prescribed percentage of marks, to the Chartered Accountancy Course have come into force from August 1, 2012. The said Notification is reproduced hereinbelow for information of all concerned

1. Graduate/Post graduate In commerce :55 % Marks
2. Graduate /Post Graduate other stream :60 % Marks.
3. ICWA Inter and CS Inter.

Interested persons/students, i.e., freshers and existing students are advised to watch for the details of registration formalities and of transitional scheme including fee payable, registration form which will be announced/published by around August 16, 2012.

(1A)Any graduate or post graduate referred to in sub-clause (ix) of regulation 2 shall be exempted from passing the Common Proficiency Test under this regulation if such person is a -

• graduate or post graduate in commerce having secured in aggregate a minimum of fifty-five per cent. of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University) by studying any three papers of 100 marks each out of Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting; or
• graduate or post graduate other than those referred to in clause (i), having secured in aggregate a minimum of sixty per cent. of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University).

(1B) Any candidate who has passed the Intermediate examination conducted by the Institute of Cost Accountants of India set up under the Cost and WorksAccountants Act, 1959 (23 of 1959) or by the Institute of Company Secretaries of India set up under the Company Secretaries Act, 1980 (56 of 1980) shall also be exempted from passing the Common Proficiency Test under this regulation. 

Explanation.- For the purposes of sub-regulations (1A) and (1B),- 

(i) for calculating the percentage of marks, the marks secured in subjects in which a person is required by the University (including open University) to obtain only pass marks and for which no special credit is given for

higher marks, shall be ignored; and 

(ii) any fraction of half or more shall be rounded up to the next whole number.”.