The Institute of Chartered Accountants of India (ICAI) has revised its rules allowing students to obtain provisional admission to the CA Foundation Course after Class 10, a move that will reduce by six months the time taken to become a chartered accountant.
The admission will be regularised only after candidates clear their school-leaving Class 12 exam. Earlier, students could only register for the course after sitting the Class 12 boards.
"The institute recently got the approval of the government for amending the regulations 25E, 25F & 28F of the Chartered Accountants Regulations, 1988, which now enables a candidate to provisionally register in the Foundation Course of ICAI after passing Class 10 examinations. However, provisional admission to the foundation course will only be regularised once the candidate clears Class 12 exams," ICAI president Atul Kumar Gupta has said.
It would help students to prepare for the foundation course while pursuing Classes 11 and 12, giving them enough time to update their knowledge and techniques to pass the CA Foundation, he said.
"The ICAI also offers free online classes to students of the foundation, which can be accessed anytime, anywhere," Gupta added.
After appearing in the Class 12 examinations, which are normally held in February-March, students would be eligible to sit the Foundation Examination in May-June, ICAI said in a press release.
The institute will also offer free online classes to students of Foundation Course, it added.
"With the new norms, students will be able to complete CA course and become chartered accountants six months in advance due to early admission," Gupta said.