The Pathway to Chartered Accountancy for Those with an MBA in Banking and Finance

Are you an MBA in banking and finance who is considering taking the next step in your career and pursuing a career in Chartered Accountancy in India? The journey to becoming a Chartered Accountant through the Institute of Chartered Accountants of India (ICAI), also known as ICAI, is competitive but achievable. This guide will take you through the eligibility criteria and the process of becoming a Chartered Accountant from a graduate or post-graduate candidate in banking and finance.

Eligibility Criteria

To be eligible for the Chartered Accountancy (CA) professional course as a Direct Entry Student, you need to meet the following criteria:

Graduate or Post Graduate in a relevant field with a minimum average of 60 or 55 for B Com or M Com. Cleared the Intermediate examination in both groups of either ICMAI or ICSI.

The Step-by-Step Journey to CA Certification

Once you are eligible, the route to becoming a Chartered Accountant involves the following steps:

Step 1: Joining the CA Intermediate Course

Eligible candidates can join the Intermediate (CA) course as a Direct Entry Student. This course provides an essential foundation for further CA studies.

Step 2: Completing the ICITSS Course

Next, candidates need to complete a 4-week course on Information, Communication, Intellectual, Technology, Strategic and Social Skills (ICITSS). The course is divided into two weeks of Information and Technology Training (ITT) and another two weeks of orientation.

Step 3: Apprising for Article Ship

After completing the ICITSS course, the next step is to undertake a 3-year article ship under a practicing Chartered Accountant. This stage is crucial as it provides practical experience and real-world exposure to the accounting profession.

Step 4: Appearing for the CA Intermediate Examination

After a mutual agreement with the practicing Chartered Accountant, candidates can appear for the CA Intermediate examination after completing 9 months of article ship. It is important to note that an agreement must be in place for the candidates to qualify for the examination.

Step 5: Completing 30 Months of Article Ship and Appearing for the CA Final Examination

Candidates who complete the 30 months of article ship and clear both groups of the CA Intermediate examination are now eligible to appear for the CA Final examination after fulfilling the 9 months practical experience requirement. Success in the CA Final examination is a significant milestone, as it brings candidates one step closer to becoming a Chartered Accountant.

Step 6: Applying for Associate Membership and Becoming a Chartered Accountant

After clearing both groups of the CA Final examination, candidates can complete the remaining 6 months of article ship. Upon fulfilling this requirement, candidates are eligible to apply for associate membership. Once granted associate membership, you officially become a Chartered Accountant.

Recent Changes in the Scheme

A new scheme has been proposed, although it has not yet been implemented. Under this scheme, eligibility for article ship will be gained only after clearing both groups of the CA Intermediate examination. This means that the 3-year article ship will be broken down into two parts:

Two years of compulsory article ship following the successful completion of both groups of the CA Intermediate examination. Candidates are eligible to appear for the CA Final examination only 6 months from the completion of the 2-year article ship. Candidates who have cleared both groups of the CA Final examination will need to undergo one year of practical training.

Candidates seeking article ship under the ICAI rules or practical training under the ICMAI can send their resumes to the email address mentioned in my profile.

Whether you are already an MBA graduate in banking and finance or you are considering the transition, the path to becoming a Chartered Accountant offers a rewarding journey with substantial professional benefits. The process is rigorous but the end result is a valuable certification that can significantly enhance your career prospects.