Chartered Accountant needs to pass an assessment of ICAI for membership if applied after 3 years

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ICAI has recently made a change to the Chartered Accountants Regulations, 1988 vide notification in official gazette dt. 14.09.2020 wherein it has been mentioned that:

“Notwithstanding anything contained in clause (a) or (b) of sub-regulation (1), a person who makes an application for membership of the Institute after a period of three years or more from the date of his passing the final examination and comply with other provisions of these regulations, shall be required to appear and pass such Assessment as may be approved by the Council from time to time”

Further even if a person who wish to restore his name also needs to pass such assessment which is as below:

“Provided that a person who makes an application for restoration of his name after a period of three years or more from the date of removal of his name shall be required to appear and pass such assessment as may be approved by the Council from time to time”

Thus, according to the above notification such assessment is required for adding or restoring name as member with ICAI. However, rather they should keep such assessment for COP rather than membership, as assessment of a person holding a COP is more important than membership because he will sign and certify various documents.

To read the full notification CLICK HERE.

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