ICAI – Provisional Admission to Final Examination to be held in May 2014

Announcement dated 8th May, 2014

Provisional Admission to Final Examination to be held in May 2014

Queries are being received from candidates who have been admitted provisionally to Final examination to be held in May 2014, about the status of their admission to the said examination.

Candidates not complying with any one or more of the eligibility requirements, mentioned below, have been admitted to the CA Final examination, on a provisional basis. Admit cards issued to those candidates contain the words “Provisional”

1. The candidate should have passed the Intermediate (IPC) Examination or PE II/PCC/IPCE/Intermediate Examination.

2. The candidate should have been registered for Final Course.

3. The candidate must have a valid registration to the Final Course, as on the date of applying for the exam. Since registration to Final course is valid for 5 years from the date of registration, students whose registration has expired are required to revalidate their registration by applying to the Regional Office concerned along with the requisite fee.

4. The candidate must have

·         Completed the prescribed period of articled training on or before 30th April 2014; or

·         Must be serving the last 6 months (12 months in the case of those who came through PE II route) of articleship, i.e., would be completing their articleship (including excess leave, if any) on or before 31st October 2014 (on or before 30^th April 2015, in the case of those who came through PE II route) and be in service as on 1st May 2014. However, this condition of being in service as on 1st May 2014 in articleship, is not applicable to those who are eligible to appear in the Final examination for the first time. Candidates who might have taken termination of articleship for any reason, are required to have re-registered for articleship prior to 1st May 2014 to comply with the above requirement.

Detailed eligibility conditions are published in the Guidance Notes made available with the examination forms and are also hosted on http://icaiexam.icai.org.

Candidates are advised to ensure that they fulfill above eligibility conditions /requirements, failing which their results may not be processed.

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Source: The Institute of Chartered Accountants of India.

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ICAI - Reimbursement of Travel Expenses of Rank Holders in CA Examinations invited to the Annual Day Function.

Reimbursement of travel expenses of rank holders in CA examinations invited to the Annual Day Function held in New Delhi, for receiving the Medals/Awards/Merit Certificate.

Currently, Rank holders (first three in the case of Intermediate (IPC) and Final examinations and the first rank holder in the case of Common Proficiency Test ) are invited to New Delhi for the Annual Day function for receiving the Medals/Awards/Merit Certificates and the actual cost of their travel, limited to A/C- 2 tier train fare, is being reimbursed to them.

It has now been decided that in addition to the reimbursement of the actual travel cost of the rank holder/s, as mentioned above, the actual cost of travel, not exceeding A/C-2 tier train fare, of one more person accompanying the awardees/rankholder/s to New Delhi for the Annual Day Function will also be reimbursed, henceforth.

Source: The Institute of Chartered Accountants of India.

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ICAI - Admit Cards for May 2014 Exams

Admit cards in respect of all eligible candidates admitted to the Intermediate (IPC) and Final May/June 2014 examination, with their photographs and signatures on them, are hosted on www.icai.nic.in. Candidates may print their admit cards from the said website. For downloading/printing of the admit cards, candidates will have to enter the following details on the site:

·         Student registration number or bar code number printed on the examination form

·         Personal Identification Number (PIN)

PIN is the four digit number of the candidate’s choice entered by him/her the relevant column in the examination form.

In terms of the decision of the Examination Committee of the Institute, physical admit cards are being sent by post, only to those who submitted physical examination forms ( i.e. OMR ). The practice of sending physical admit cards by post, to those who had submitted their exam forms online, is discontinued with effect from May 2014 examination onwards.

Physical admit cards sent by post as well as those printed from the website are valid for admission to the examination.

Candidates may also visit the FAQs on subject hosted in the FAQs section of www.icai.org for more details.

For any further clarifications, write to/contact:

Final candidates: final_examhelpline@icai.in

Intermediate (IPC) candidates: intermediate_examhelpline@icai.in

 
Help Line Telephone numbers: 0120 3054 851, 852, 853 or 835

Fax 0120 3054 841, 843.

Source: The Institute of Chartered Accountants of India.

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ICAI - Zone Shifting of Candidates for May / June 2014 CA Exams

Important Announcement dated 01st May, 2014

Due to paucity of accommodation in certain Zones opted by the candidates in the cities of Chennai, Delhi, Hyderabad, Indore and Mumbai, some of the candidates have been allotted examinations centres in the zone other than the zone opted in the said cities. In view of this, it is not possible to accede to the requests of the candidates for transfer to an examination centre in a particular zone of the city opted by them.

While inconvenience caused in the matter is deeply regretted, we seek the cooperation from the ICAI students and other stakeholders in this regard.

Source: The Institute of Chartered Accountants of India.

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Webhosting of Practice Manuals based on the Revised Syllabus applicable from November, 2014 Examination and onwards

Webhosting of Practice Manuals based on the Revised Syllabus of Paper 7A: Information Technology of Intermediate (IPC) Course and Paper 6: Information Systems Control and Audit of Final Course applicable from November, 2014 Examination and onwards.

The syllabus of Paper 7 A: Information Technology of Intermediate (IPC) Course and Paper 6: Information Systems Control and Audit of Final Course have been revised in terms of the decision of the Council taken at its 324th meeting held in March, 2013. It has been decided to hold the examinations of the aforesaid papers in accordance with the revised syllabus from November, 2014 onwards. [Refer the detailed Announcement and Note explaining significant changes made in the syllabus hosted on the website and published in the Students’ Journal].

Study Materials prepared in accordance with the revised syllabus of said papers are already available on the Institute’s website and also at the sale counters of the Institute.

Now, Practice Manuals prepared on the basis of the revised syllabus have also been hosted at the Institute’s website on BoS Knowledge Portal.

The revised Practice Manuals will be available at the sales counters of the Institute shortly.

Source: The Institute of Chartered Accountants of India.

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ICAI - Corrigendum to answers related to Modification of Charge and Notice of Meeting

Corrigendum to answers related to modification of charge and notice of meeting given in the Practice Manual of Paper No. 2, Business Laws, Ethics and Communication

1. Students are advised to read the following answer given hereunder in place of answer to the question no. 52 given on the page no. 6.133 of the Practice Manual:-

Answer to question no. 52 (page no. 6.133) - Section 135 of the Companies Act, 1956 provides that “whenever the terms or conditions or the extent or operation of any charge registered under this part are or is modified, it shall be the duty of the company to send to the Registrar the particulars of such modifications and the provisions of this part as to registration of a charge shall apply to modification of the charge.”

Here the term modification includes variation of any terms of the agreement including variation of rate of interest (other than bank rate), which may be by mutual agreement or by operation of law. In the given problem, the term as to change of rate of interest has been fixed at a specified percentage above the bank rate as notified by the Reserve Bank, so a change in the rate of the interest arising out of variation of the Bank rate would not amount to a change in a term of the charge under section 135 and hence no return of modification of charges is required to be filed with the registrar and no registrar of companies can insist on filing a return for modification of charges.

In the light of the above, the change in the rate of interest does not constitutes modification. Therefore the stand of the company not to file a return, is correct.

2. While reading the answer to question no. 26 given on page no. 6.151 of the Practice Manual, students are advised to take the following corrections into consideration while going to the answer :-

Answer to question no. 26 (page no. 6.151) - According to Section 171(1) of the Companies Act, 1956 a general meeting of a company may be called by giving not less than 21 days notice in writing. Here, 21 days means 21 clear days i.e. excluding both the date on which the notice was served and the date of the meeting, and where the notice of the general meeting is sent by post, excluding further 2 days (48 hours of posting).

Thus accordingly in the answer, the notice will short by two days.

Source: The Institute of Chartered Accountants of India.

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ICAI - Correction Window for May-2014 Online Exam Forms

Announcement dated 18th March 2014

Correction Window

It is seen that candidates while filling the exam forms (either online or physical) do not exercise reasonable care and commit errors. This creates lots of difficulties for them as well as the office at Admit Card stage and thereafter.

With a view to provide them an additional opportunity to rectify errors, if any, committed while filling up the exam forms, in the fields centre, group and medium, an online “Correction Window” is being put in place with effect from the examination for May 2014 onwards.

Thus, “Correction Window” is a platform in the on line exam form submission process, where candidates can view and correct errors, if any, committed by them while submitting the exam form, in the fields, centre, group and medium opted.

The terms and conditions in this regard are as follows:

1. This facility is available at http://icaiexam.icai.org, from 10.00 a.m. of 19.03.2014 to 5.30 p.m. of 25.03.2014.

2. This facility is available only to those who had submitted their exam forms online.

3. This window is not for fresh submission of exam forms and is meant only for correction of errors if any, in the exam forms already submitted.

4. Candidates can access the portal by entering the following details, as filled in by them in their exam application forms:

·         Bar code number/control number printed on their online exam form

·         PIN ( i.e. the four digit number of their choice which they had filled in their exam forms) and

·         Date of birth.

5. Following details, submitted by the candidates in their online examination application form will be displayed on the screen.

·         Name of the candidate

·         Registration number and

·         Group/medium/centre opted

6. Candidates will be permitted to enter changes if any, in any of the following three fields only:

·         City opted. (Change from domestic centre to centre abroad is not permitted)

·         Group opted (Change from single group to both groups is not permitted)

·         Medium opted

In other words, no fresh payment of exam fees or refund of exam fees already paid will be permitted on account of correction of groups, made in this process.

7. A change may include change of centre/group/medium either jointly or severally.

8. Candidate will not be permitted to make any corrections/changes to any other field.

9. The requests should be made by the student and not by anyone on his/her behalf.

10. Corrections, once submitted, cannot be changed thereafter.

11. The facility will be available free of cost.

12. The candidate should upload scanned copy of a handwritten application in this regard, duly signed by him, seeking the corrections required.

13. Those candidates (who had submitted their exam forms online) and who might have already submitted a handwritten request for change of centre/group/medium, are advised to submit such request/s, online, through this Correction Window, once again. Changes sought through the Correction Window will be treated as final.

14. Admit cards will be issued based on the examination application form and the correction received till the correction window closes.

15. Those who had submitted physical OMR exam forms and seeking corrections in the fields mentioned above and any other correction like registration number, name spelling etc may contact the exam department at:

·         Final candidates: final_examhelpline@icai.in

·         Intermediate (IPC) candidates: intermediate_examhelpline@icai.in

Candidates are requested to take advantage of this facility and correct errors if any, committed while filling the exam form.

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Click here to download the complete text of above Announcement in PDF Format.

Source: The Institute of Chartered Accountants of India

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ICAI - Applicability of notified sections of the Companies Act, 2013 for November 2014, Examinations

Important Announcement dated 15th March, 2014

Attention: Intermediate (IPC) and Final Course students

Applicability of notified sections of the Companies Act, 2013 for November 2014, Examinations

As students may be aware that the Companies Act, 2013 has been notified in the Official Gazette on 30th August, 2013 stating that different dates may be appointed for enforcement of different provisions of this Act through notification of the Central Government in this regard.

Having regard to the above development, the Council at its 330th meeting revised the syllabus in a limited manner in the following papers of Intermediate (IPC) and Final Course(s) as per Annexure I (shown in Bold cum Italics).

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Click here to download the complete text of above Announcement - Applicability of notified sections of the Companies Act, 2013 for November 2014, Examinations in PDF Format.

Source: The Institute of Chartered Accountants of India

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Conducting of Mock Tests and Special Counselling Sessions for May, 2014 Examinations

Conducting of Mock Tests and Special Counselling Sessions - for Intermediate (IPC) and Final Course students for May, 2014 Examinations

With a view to further encourage the students to evaluate their preparation for the examination, the Board of Studies has prepared Mock Test Papers for Intermediate (IPC) and Final Course students to assess their preparation for the main examination to be held in May, 2014. All our Regional Councils and Branches have been advised to conduct Mock Tests under examination conditions and ‘Special Counselling Sessions’ for the benefit of Intermediate (IPC) and Final Course students in the months of March − April, 2014.

Students are advised to contact the respective Regional Councils/Branch(es) to ascertain the exact date(s) and venue for the Mock Tests and ‘Special Counselling Sessions’ so as take advantage of the same which will help them to assess their preparation for the main examinations.

Source: The Institute of Chartered Accountants of India.

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Supply of Certified Copies of Evaluated Answer Books in Soft Form

Currently, certified photo copies of evaluated answer books are being provided to the examinees who apply for the same, in accordance with a scheme formulated for the purpose.

With a view to ensure faster delivery of certified copies to the applicants, it has now been decided to make available scanned copies of evaluated answer books to examinees who apply for the same, through a website, in soft form, as against the current practice of dispatching physical photocopies. Physical copies of the answer books shall not be dispatched to the applicants, henceforth.

This new initiative will commence from the Intermediate (IPC) and Final examination held in November 2013.

Answer books sought by an applicant (both through online as well as physical applications) will be scanned and the scanned images will be hosted on a website and the applicant will be sent an email, at the email address provided by him, in his request, informing him the URL link of the website where they are hosted and the user ID and password required for accessing the same.

Applicants can enter the site where the answer books are hosted only through the URL in the email sent to them.

They can view and take print out of the scanned copies of the answer books sought by them, at their convenience, but not later than 10 days from the date of hosting.

Students can continue to check the status of their applications at http://icaiexam.icai.org as usual. (Candidates may please note that scanned copies of answer books will not be hosted on http://icaiexam.icai.org).

For any assistance in this regard, applicants may get in touch with the Exam Dept. on the following e-mail IDs

For Final students: final_abc@icai.in

For Intermediate (IPC) students: inter4@icai.in

Source: The Institute of Chartered Accountants of India.

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Applicability of Standards/ Guidance Notes/ Legislative Amendments etc. for Intermediate (IPC) May, 2014 Examination

Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2014 – Intermediate (IPC) Examination

No. of Pages – 5

Format – PDF

File Size – 33.1 KB

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Click here to download the complete text of the above - Applicability of Standards/Guidance Notes/ Legislative Amendments etc. for Intermediate (IPC) May, 2014Examination in PDF Format.

Source: The Institute of Chartered Accountants of India.

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Revision Test Papers & Suggested Answers

Apart from various other educational inputs, the Board of Studies also releases Revision Test Papers for the forthcoming Examinations and the Suggested Answers for the previous Examinations both for Final and Intermediate (IPC) Courses to enable the aspiring students to assess their preparation and update with latest developments including level & quality of the answers to be maintained.

I am pleased to inform that as per practice the Revision Test Papers- May 2014 and Suggested Answers- Nov. 2013 for Final and Intermediate (IPC) Course have already been released well in advance before the May 2014 Examinations. These materials have already been hosted at ICAI website and the printed copies are also available for sale at the Sale Counters of our Regional Offices and Branches.

Students are advised to avail benefit of the above while preparing for their Examinations.

Source: The Institute of Chartered Accountants of India.

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ICAI - Format for Letter reporting discrepancies, if any, in the Certified Copies received

Final / Intermediate (IPC) - Format for Letter reporting discrepancies, if any, in the Certified Copies received

Notes:

1. No fee is payable in such cases.

2. Such a request must be made within 30 days of issue of this letter.

3. Only discrepancy as covered under Regulation 39(4) will be entertained i.e.

(i) no totaling error;

(ii) no carrying over of marks from inside to the cover page of the answer book;

(iii) no question or part thereof has remained un evaluated.

4. No responsibility taken for late or non-delivery due to postal issues.

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Click here to download - Letter reporting discrepancies, if any, falling within the scope of Regulation 39(4) – in PDF Format.

Source: The Institute of Chartered Accountants of India.

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ICAI - CA Intermediate (IPC) November 2013 Exam Result are likely to be declared on 31.01.2014

Important Announcement dated 23.01.2014

Result of the Chartered Accountants Intermediate (IPC) Examination held in November, 2013 are likely to be declared on Friday, the 31st January, 2014.

The result of the Chartered Accountants Intermediate (IPC) Examination held in November, 2013 are likely to be declared on Friday, the 31st January, 2014 around 4.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank on all India basis will be available on the following website:

http://www.caresults.nic.in

Arrangements have also been made for the candidates desirous of having results on their e-mail addresses to pre-register their requests at the above website, i.e., http://www.caresults.nic.in from 27th January, 2014. All those registering their requests will be provided their results through e-mail on the e-mail addresses registered as above immediately after the declaration of the result.

In addition to above, it may be noted that for accessing the result at the above website i.e. http://www.caresults.nic.in the candidate shall have to enter his registration no. and/or PIN no. alongwith his roll number.

Further facilities have been made for candidates of Intermediate (IPC) Examination held in November, 2013 desirous of knowing their results with marks on SMS. The service will be available through India Times.

For getting results through SMS candidates should type:

(i) for Intermediate (IPC) Examination result the following

CAINTER(Space)XXXXXX (where XXXXXX is the six digit Intermediate (IPC) Examination roll number of the candidate)

e.g. CAINTER 002971

and send the message to

58888 - for all mobile services - India Times

Click here to download the complete text of the above Announcement in PDF Format.

Source:The Institute of Chartered Accountants of India.

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Treatment to be given to papers - For the Purpose of Admission to the CA Course under Direct Entry Scheme

Important Announcement

BoS/ Announcement/ 227/2013 dated June 7, 2013

Treatment to be given to papers with different nomenclatures and marks spread over the entire duration of graduation/ post graduation course for the purpose of admission to the CA Course under Direct Entry Scheme.

The Council in order to mitigate the hardship being faced by certain category of students in registration to Intermediate (IPC) Course under Direct Entry Scheme, decided to pass the following Resolution under Regulation 205 of the Chartered Accountants Regulations, 1988.

“Resolved that –

By virtue of powers vested under Regulation 205 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India hereby orders that the set of candidates who are fulfilling the following eligibility requirements but were facing hardship in seeking admission to the Intermediate (IPC) Course under Direct Entry Scheme under Regulation 25D (1A)(i) of the above-stated Regulations be now enabled to seek admission/registration as under:-

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 recognized University (including Open University) by studying any three papers carrying a minimum of 50 marks in a semester/ year and cumulatively 100 marks or more marks over the entire duration of the concerned course 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 similar to the title of these papers with different nomenclatures. The Board of Studies was authorized to approve the subjects, University-wise, as and when the issue of nomenclature arises.

The Council also decided that in terms of the above resolution passed, students who have commenced their practical training but their registrations to the Intermediate (IPC) Course could not be processed/regularised due to the restrictions in Clause (i) of Regulation 25D (1A) of Chartered Accountants Regulations, 1988 be processed for registration/admission to the Intermediate (IPC) Course under the Direct Entry Scheme with retrospective effect i.e. from the date of their commencement of practical training, provided the registration and other related papers together with prescribed fee had been received in the office on or after 1^st August, 2012 and such students are also continuing their articles.”

Click here to download the complete text of the above Announcement in PDF Format.

Source: The Institute of Chartered Accountants of India.

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