Date:06/12/2004 URL: http://www.thehindubusinessline.com/2004/12/06/stories/2004120602000500.htm

Back ICAI finalises revision to CPE statement

K.R. Srivats

New Delhi , Dec. 5

THE Institute of Chartered Accountants of India (ICAI) has finalised revision to the statement on continuing professional education (CPE).

Besides exempting members who are Members of Parliament, Members of Legislative Assemblies and public servants from mandatory CPE, the ICAI is also set to specify that members above the age of 60 years would not be required to comply with CPE.

Hitherto, ICAI members above the age of 65 years were exempted from CPE.

Further, effective January 1, 2005, ICAI members in the industry would also be required to put in 10 hours of CPE every calendar year. For members in practice, the CPE hours are to be raised from 15 hours a year to 20 hours a year with effect from January 1.

"The central council recently approved the revision in statement of CPE. We have also decided to introduce the concept of industry-wise CPE study circles. Suppose there are a large number of chartered accountants serving one particular large company in an industry, then they can form a CPE study circle and comply with CPE requirements," Mr G. Ramaswamy, Chairman, ICAI Committee on CPE, told Business Line here.