The Institute of Chartered Accountants of India has announced in a notification that it has scrapped the Common Entrance Test (CPT), which used to be held for entry to the Chartered Accountancy course. Further Registration details, transitional scheme including fee payable will be announced by ICAI around 16 August 2012.
The eligibility for exemption from the Common Proficiency Test for graduate and postgraduate are:
Graduate or postgraduate in commerce having secured in aggregate a minimum of fifty-five per cent of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University) by studying any three papers of 100 marks each out of Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting; or
Graduate or postgraduate with a minimum of 60% of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University).
Any candidate who has passed the intermediate examination conducted by ICAI set up or by Institute of Company Secretaries.