#icai intermediate

CA Direct entry route as the name suggests refers to the straight entry to the Chartered Accountancy course without having to appear for the entrance test i.e. CA Foundation. Direct Entry Scheme was implemented by the ICAI w.e.f 1st August 2012 which allows students to enroll directly for CA Intermediate Course.

However, students who have originally registered for CA Foundation or Intermediate Course under CA Foundation Route can later convert into the Direct entry scheme. Read on below to know about the complete procedure for conversion to the CA Direct Entry Scheme.

Eligibility for Direct Entry Scheme

Commerce Graduates / Post Graduates with a minimum of 55% marks or other graduates or Postgraduates with a minimum of 60% marks. Candidates who have passed the Intermediate level of The Institute of Companies Secretaries of India or The Institute of Cost Accountants of India.

Procedure for Direct Entry Scheme

After having registered for the direct entry scheme of the Chartered Accountancy course, a student has to undergo the following two pieces of training before appearing for the CA Intermediate exams:

1. four weeks of Integrated Course on Information Technology and Soft Skills (ICITSS). 2. nine months of Articleship training.

Procedure to convert to Direct Entry Scheme

If a student originally registers for CA Foundation Course or CA Intermediate Course through the CA Foundation route, he/ she can later convert into Direct Entry Scheme by following the simple procedure elucidated below:

Go to ICAI Self Service Portal (SSP) Sign in to the SSP Portal with your User ID and Password Click on Student Cycle Click on the Student module option available on the left side Select the Other Forms option from the Student Module Click on Conversion Application The conversion form will be displayed on the screen having three parts which are Personal details; Conversion details and Payment details. Fill in all the required details, upload all the required documents and click on I Agree Click on Generate OTP Pay the required fees for conversion to direct entry scheme through the online payment method The PDF of the form will be displayed on the screen after successful payment of Fees Save the form pdf for later use

Fees for Conversion to Direct Entry Scheme

Students can convert to the Direct Entry scheme from their existing scheme by paying a fee of Rs.500/- on the SSP Portal.

Documents required for Conversion to Direct Entry Scheme

The following documents are required for converting into the Direct Entry Scheme on the SSP Portal:

Scanned copy of Candidate’s Photograph Scanned copy of Candidate’s Signature Previous Course Marksheet e.g. CA Foundation

Relaxation by ICAI in the eligibility criteria of completion of nine months of practical training

Students who originally registered for Intermediate (IPC) Course through CPT Route and appeared in Intermediate (IPC) Examination (s) but unable to pass the said examination (s) and later on after graduation shifted to direct entry scheme, be exempted from the eligibility criteria of completion of 9 months of Practical Training (which include study course for a period of eight months concurrently commences from the date of registration to the Course) for appearing in Intermediate (IPC) Examinations.

Further, such students having secured exemption in any of the paper(s) of Intermediate (IPC), be given the benefit of availing the exemption by appearing in immediately next three following examinations excluding the examination which he could not avail of due to shifting to direct entry scheme.”

Procedure for availing benefit of the above relaxation

(i) An eligible student with valid registration needs to convert into the Direct Entry Scheme. At the time of conversion, a self-declaration is to be enclosed stating that the student has already appeared in the Intermediate (IPC) Examination(s) through CPT Route but could not qualify for the same.

(ii) Such student, after completion of the ITT and Orientation Programme, should commence their Practical Training on or before 31st Oct. / 30th Apr. for being eligible to appear in the Nov. / May Intermediate (IPC) Examinations respectively.

Industrial Training refers to the practical training in a company or an industrial environment that helps the students in developing the required skills which will help them in becoming a professional of the future.

ICAI industrial Training aims to equip the candidates who wish to pursue a career in the industry with the required practical exposure and appreciation about the functioning of the finance department in an industrial environment. It develops a problem-solving attitude amongst future chartered accountants and prepares them for work later on.

In this article, we will be discussing all the important aspects of Industrial training in the Chartered Accountancy course.

Eligibility Criteria for Industrial Training

A candidate desirous of pursuing Industrial Training must fulfill the below-mentioned eligibility criteria:

As per the Chartered Accountant Regulations, A candidate who has passed the ca intermediate or CA IPCC Examination (both groups) is eligible to serve as an industrial trainee in any of the financial, commercial, industrial undertakings as may be specified by the council or such other institution or organization as may be approved by the council from time to time.

An article assistant can serve as an Industrial Trainee only during the last year of his/ her prescribed period of Practical Training/ Articleship.

The article assistant has to intimate to his/ her principal about the intention to take such industrial training at least three months before the date on which such training is to commence.

Procedure for Industrial Training

Candidates who wish to serve in a company as an industrial trainee must register themselves with the ICAI in Form No. 104 electronically on ICAI’s website.

How to fill Form No. 104?

You can fill form no. 104 by following the below steps:

Go to ICAI Self Service Portal (SSP) Log in using your User Id and Password Go to Articleship Cycle Click on the Articleship/ Auditship tab available on the left side of the portal Click on the articleship menu Go to Industrial Training (Form No. 104) option Submit all the required details and click on submit Now your form has been submitted and will be sent to the Principal (under whom industrial training will be done) for approval. Once your application has been approved, go to the “Submitted/ Pending Actions” (in the articleship tab of the articleship cycle option of the SSP Portal) tab, download the PDF of the form, get it signed by the Principal and upload the scanned copy along with the deed in order to complete the registration process.

Duration of Industrial Training

The period of industrial training may range between a minimum of nine months and a maximum of twelve months during the last year of the prescribed period of practical training.

The period of industrial training is treated as service under articles for all purposes of the Chartered Accountant Regulations.

Is it mandatory to pursue Industrial Training during the CA course?

It is not mandatory to pursue Industrial Training. It is entirely up to the discretion of the candidate whether he/she wants to pursue Industrial training or complete 3 years of articleship under his/her existing Principal.

Advantages of Industrial Training

However, it is not mandatory for the candidates to pursue Industrial Training but it definitely provides an edge over the candidates who don’t. Some of the advantages are listed below:

It gives a new learning experience You get to interact with the members of other disciplines Fixed office timings Only five working days a week High Stipend amount Good contacts for future opportunities A Brand Name gets added to your profile Increased opportunities of getting placed in larger organizations (outside of Audit Firms)

Which Companies provide Industrial Training

Only the companies which are approved by the Institute of Chartered Accountants of India can provide Industrial Training.

There is a complete region-wise list of companies offering Industrial Training to CA students on the Institute’s official website which can be accessed by clicking on the given link:

https://www.icai.org/post.html?post_id=823

Some of the Companies are HSBC, Citi Bank, Wipro, HDFC, Kotak, etc.

How to apply for Industrial Training and Selection Process

You can directly apply in the ‘careers’ section of the company’s website where you wish to pursue Industrial training in case there is a vacancy.

You can also enroll yourself on the icai ca inter Articleship and Industrial Training Portal to get an opportunity of pursuing articleship in the companies registered on the portal.

You can also register on various job portals to find an Industrial Training opportunity that best suits you.

Selection Process: The selection process for Industrial Training generally includes a telephonic interview by the company or an online written test or sometimes both.

Working Hours and Days of Industrial Training

Normally, the timings for Industrial Training in most of the companies is 10 am to 6 pm (approximately 8 hours)

And generally, there are five working days during a week during Industrial Training.

Stipend in Industrial Training

The amount of stipend offered varies from Industry to industry, company to company. But generally, it is seen that companies give a handsome amount of stipend to their Industrial Trainees which ranges from Rs.15,000 to Rs.40,000 a month.

Under whom an article can pursue Industrial Training

The industrial training shall be received under a member of the Institute working in the company where you register as an Industrial Trainee.

As per the ICAI guidelines, An Associate who has been a member for a continuous period of at least three years shall be entitled to train one industrial trainee at a time and a fellow shall be entitled to train two industrial trainees at a time, whether such trainees be articled, clerks or audit clerks.

After successful completion of the Industrial Training, a Certificate of service will be issued by the member under whom industrial training was received in Form No. 105.

Exam Leaves allowed during Industrial Training

Every company has a different policy regarding exam leaves to be given to the Industrial Trainees for CA Final Exams. But normally a study leave of 2- 3 months is allowed by the companies.

How to create better chances of selection in companies for Industrial Training

To create better selection opportunities for yourself in Industrial Training you must understand the subject effectively and practically in which you want to join Industrial Training. (e.g, If you wish to pursue your Industrial Training in the field of finance, focusing more on subjects like Financial Management, Risk Management will be of great help)