Four-hours Mandatory CPE on Standards on Auditing & Code of Ethics can be done Online: ICAI

The Institute of Chartered Accountants of India ( ICAI ) has said that Four-hoursMandatory CPE on Standards on Auditing and Code of Ethics can be done Online.

The Requirement of mandatory completion of 2 Structured CPE Hours, each on the topics of ‘Standards on Auditing’ and ‘Code of Ethics’ during every Calendar year, from Calendar Year 2020 onwards in Online/Virtual mode for COP holders and grant of structured CPE hours through Virtual CPE Meetings.

In a Communication sent via E-Mail to Members, the ICAI President said that Considering the interest and well-being of the members and other stakeholders during the crisis brought in by the global pandemic Covid-19, it was decided by the Council of the Institute to completely restrict conduction of any program/class by any Regional Council/Branch/Central Level Committee, Students Association, Branches of Student Associations, CPE Study Circle of ICAI or any other Programme Organising Units (POUs), requiring the physical presence of Members and Students till 15th April 2020 or any further direction in the matter. It was also decided that 20 hours structured CPE learning which is mandated to be completed by Members below 60 years holding COP, in each calendar year, wherein 04 hours of structured learning could be through e-Learning Videos available on ICAI Digital Learning Hub, conducted and monitored by ICAI and its Central Committees (on MCQ and result basis), has been extended to 10 hours till 30th June 2020.

Thereafter, the CPE Directorate & CDS has also decided to allow the Regional Councils, Branches, and Foreign Chapters apart from Central Committees to organize webinars under unstructured learning activities.

Subsequently, the CPE Directorate & CDS of ICAI at its recent meeting considered the hardship being faced by members towards compliance of mandatory CPE hour’s requirement due to non-organization of structured CPE hours programs and decided to Grant structured CPE hours to the participants of  Virtual CPE Meeting to be organized by Central Committees/Foreign Chapters/Regional Councils/Branches/CPE Study Circles/CMI & B Study Circles so that a large number of members may benefit from the same. Webinars shall continue to be organized by Central Committees only. Details are available here.

The Directorate also decided to implement the decision of the Council with regards to mandatory completion of 2 Structured CPE Hours, each on the topics related to “Standards on Auditing” and “Code of Ethics” (total 4 Structured CPE Hours) during every Calendar year, from Calendar Year 2020 onwards in Online/Virtual mode for the Categories of members who are required to complete minimum 20 Structured CPE Hours in a Calendar year (COP Holder). This may be completed at any time during the year in online/virtual mode.

Accordingly, now out of 20 hours Structured CPE hours which is mandatory to be completed by Members below 60 years holding COP, in each calendar year, 10 Structured CPE hours could be granted through online mode (either through Digital Learning Hub or through above Virtual CPE meetings including mandatory CPE hours on “Code of ethics” and “Standard on auditing”) till 30th June 2020.

Details of all forthcoming Virtual CPE Meetings (VCMs)/Webinars being organized by various Programme Organising Units of ICAI are available at CPE Portal at www.cpeicai.org/all-upcoming-programs/. Contents eligible for grant of Structured CPE Hours on the topics “Standards on Auditing” and “Code of Ethics” on ICAI Digital Learning Hub may be accessed through https://eservices.icai.org/