The Hindu Business Line : Professional education norms for CAs deferred by a year

The ICAI had earlier come up with a proposal to make members in industry to put in at least 10 hours of CPE every calendar year beginning January 1, 2005.

The implementation of this proposal requires all chartered accountants in service including those working as fund managers and senior executives in corporate finance departments of companies to undertake CPE.

The ICAI has about 60,000 members who are in service and industry.

"We have decided to defer the implementation of mandatory CPE for members in industry by a year i.e. to January 1, 2006. The rationale for this decision is that we have to further strengthen the infrastructure for delivering CPE before asking members in industry to comply with the norm," the ICAI President, Mr Sunil Goyal, told Business Line here. He said the current year would be used to strengthen infrastructure and establish CPE study circles in large corporate houses or companies having a sizeable CA population.

The Chairman of the ICAI Committee on CPE, Mr G. Ramaswamy, said CPE hours for members in practice have been raised to 20 hours a year (from earlier 15 hours a year) with effect from January 1, 2005.

Further, members above the age of 60 years will not be required to comply with CPE. ICAI Members who are Members of Parliament, Members of Legislative Assemblies and public servants need not comply with the mandatory CPE requirement.

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