ICAI- Discontinuation of Professional Competence Examination (PCE)

Posted: 16/01/2013 in ICAI
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Discontinuation of Professional Competence Examination (PCE) reg

Important Announcement

BoS/Announcement/227/13 dated January 7, 2013

As notified in the ‘Implementation Schedule’ on the Institute website, students who are pursuing Professional Competence Course (PCC) are hereby informed that the Professional Competence Examination (PCE) will be discontinued on culmination of November, 2012 examination. PCC students who wish to continue their studies in Chartered Accountancy Course, are required to switchover to Intermediate (Integrated Professional Competence) Course immediately and students who are appearing for November, 2012 Examination, may switchover to Intermediate (IPC) Course after declaration of PCE result, by fulfilling the following procedure:

1. Conversion Fee to be paid alongwith the Conversion Form:

Particulars of fee

Fee

(Rs.)

Fee

($)

Conversion Fee for Both Groups (including Study Material)

500

30

ATC (Optional ) Fee

1000

60

Above fee is to be paid by way of Demand Draft drawn in favour of “The Secretary, The Institute of Chartered Accountants of India, payable at Mumbai, Chennai, Kolkata, Kanpur or Delhi”, as the case may be alongwith the Conversion Form as available at www.icai.org > Students > Course Registration Form > Conversion Form from PCC to Intermediate (IPC) Course.

 

Fee Payable for undergoing IT Training, if not completed earlier, to the concerned Regional Office/ Branch where the Training is to be undergone:

 

IT Training Course Fee

4000

250

Further details and procedure to be followed for converting from Professional Competence Course (PCC) to Intermediate (IPC) Course:

All students who have been registered for the Professional Competence Course under Regulation 28C of the Chartered Accountants Regulations, 1988 are hereby informed that Professional Competence Examination (PCE) will be discontinued with the culmination of the November, 2012 examination. Students who wish to pursue the Chartered Accountancy Course are required to switchover to Intermediate (IPC) Course immediately by submitting the following to the respective Regional Offices from where practical training registration was done earlier, for conversion to Intermediate (IPC) Course:

  1. Fill and submit the prescribed form alongwith Conversion Fee as specified above for shifting from Professional Competence Course (PCC) to Intermediate (IPC) Course. Form for switchover to Intermediate (IPC) Course can be downloaded from the following link: http://220.227.161.86/14650IPCC_Converson_Form.pdf or from www.icai.org > Students > Course Registration Form > Conversion Form from PCC to Intermediate (IPC) Course.
  1. Enclose a copy of certificate issued by the ICAI having undergone Compulsory Computer Training (CCT)/ Information Technology Training (ITT), if already completed, for ready reference.
  1. Enclose a copy of Articled/ Audit Training Registration/ Completion Certificate issued by the Institute.

2. Eligibility Requirement to appear in Intermediate (IPC) Examination after conversion:

Professional Competence Course (PCC) students would be eligible to appear in the Intermediate (IPC) Examination on fulfilling the following requirements:

(a) Undergo 100 hours Information Technology Training (ITT), if not completed earlier;

(b) Completion of nine months practical training (which include concurrent study course for a period of eight months) – students who are not fulfilling the above requirement (i.e. has served less than 9 months of articled training), shall be required to re-register for practical training and complete nine months so as to become eligible for appearing in the Intermediate (IPC) Examination;

It is clarified that students who are converting from PCC to Intermediate (IPC) Course are required to undergo articled training for a period of three and half years (3½);

(c) Orientation Course is exempted for PCC students converting to Intermediate (IPC) Course.

3. Validity of Exemption and Validity of One of Groups Passed in Professional Competence Examination (PCE):

(a) Students who have passed one of the groups under Professional Competence Examination (PCE) will get paper wise exemption (NOT group wise exemption) in the Intermediate (IPC) Examination. Those students, who have passed one of the groups earlier, will have to register for both groups of Intermediate (IPC) Course and have to appear and pass under ‘Unit Scheme’ of Intermediate (IPC) Examination. Details of ‘Units’ are given hereunder.

UNIT SCHEME UNDER INTERMEDIATE (IPC) EXAMINATION

DETAILS OF PAPERS IN WHICH CANDIDATES ARE RE QUIRED TO APPEAR AND PASS IN ONE SITTING AS A UNIT CANDIDATE IN INTERMEDIATE (IPC) EXAMINATION

STUDENTS WHO HAVE PASSED GROUP-I OF PROFESSIONAL COMPETENCE EXAMINATION

Student to pass Group I Of Intermediate (IPC) Course has to appear

Student to pass Group II Of Intermediate (IPC)

Course has to appear

Student to pass Both Groups

Of Intermediate (IPC)

Course has to appear

UNIT – 4

 

Group I Paper 3 : Cost Accounting and Financial Management

Group I Paper 4 : Taxation

UNIT – 6

 

Group II Paper 7 : Information Technology and Strategic Management

UNIT – 8

 

Group I Paper 3 : Cost Accounting and Financial Management

Group I Paper 4 : Taxation

Group II Paper 7 : Information

Technology and Strategic

Management


STUDENTS WHO HAVE PASSED GROUP-II OF PROFESSIONAL COMPETENCE EXAMINATION

Student to pass Group II Of Intermediate (IPC) Course has to appear Student to pass Group I Of Intermediate (IPC) Course has to appear Student to pass Both Groups

Of Intermediate (IPC) Course has to appear

UNIT – 5

 

Group II Paper 5 : Advanced Accounting

Group II Paper 6 : Auditing and Assurance

UNIT – 7

 

Group I Paper 1 : Accounting

Group I Paper 2 : Business Laws, Ethics and Communication

UNIT – 9

 

Group I Paper 1 : Accounting

Group I Paper 2 : Business Laws, Ethics and Communication

Group II Paper 5 : Advanced

Accounting

Group II Paper 6 : Auditing and

Assurance

(b) Students who have got exemption in Professional Competence Examination by securing 60% and above marks under Regulation 37B (6) will get exemption in the corresponding paper/s for the unexpired period chances in the Intermediate (IPC) Examination, are given under.

Paper-wise Exemption to the Candidates appearing in the Intermediate (IPC) Examination/Accounting Technician Examination for the Un-expired chance(s) on the basis of having secured a minimum 60 percent marks in a paper(s) in the Professional Competence Examination (PCE)

Award of exemption/s in paper/s granted in the Professional Competence Examination under syllabus as specified in Regulation 28C (3) of the Chartered Accountants Regulations, 1988

Award of exemption/s in corresponding paper/s in the Intermediate (IPC) Examination/Accounting Technician Examination (ATE) under syllabus as specified in 28E(3) of the Chartered Accountants Regulations, 1988

Group I – Paper 1 : Advanced Accounting Group I – Paper 1 : Accounting and

Group II – Paper 5 : Advanced Accounting

Group I – Paper 2 : Auditing and Assurance Group II – Paper 6 : Auditing and Assurance
Group I – Paper 3 : Law, Ethics and Communication Group I – Paper 2 : Business Laws, Ethics and Communication
Group II – Paper 4 : Cost Accounting and Financial Management Group I – Paper 3 : Cost Accounting and Financial Management
Group II – Paper 5 : Taxation Group I – Paper 4 : Taxation
Group II – Paper 6 : Information Technology and Strategic Management Group II – Paper 7 : Information Technology and Strategic Management

Director

Board of Studies

Click here to download the above Announcement {PDF Format}.

Source: The Institute of Chartered Accountants of India.

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