CAs to pass new assessment if applying for ICAI membership after 3 years

Oct 13th, 2020

In a first, CAs will have to ensure they have a valid membership to the industry body ICAI. Else they have to be ready to go through an assessment or refresher course.

Now, CAs have to pass a new assessment if applying for ICAI membership after 3 years. This is relevant for:

• CA students who have not taken membership to ICAI for a period of three years after passing final exam,
• and ex-members who have not restored membership three years after removal of name due to any reason,

They will have to take an assessment or go through a refresher course.

While details of the scheme are yet to be decided, the central government has given an inprinciple approval to the proposal, and the ICAI has notified it in the Gazette for public comments, ICAI president Atul Kumar Gupta told TOI. ICAI’s Gupta said the aim is to ensure quality of services rendered by CAs. The seminars and education programs to keep CAs updated is mandatory only for the members of the institute, and those without membership lose advantage of such initiatives, he said. “On becoming members such persons shall be able to keep themselves abreast of the latest developments taking place in economic and professional fields from time to time”.

Tags: CA, ICAI, News