In a proactive move to address the evolving needs of Chartered Accountants amidst globalization and increasing professional complexities, the Continuing Professional Education (CPE) Committee of the Institute of Chartered Accountants of India (ICAI) has released an Exposure Draft.
This draft outlines consequential provisions for non-compliance with the annual CPE hours requirement, proposed to take effect from the calendar year 2024.
The ICAI, committed to providing timely education and training, recognizes the vital role of continuous professional learning in today’s dynamic and competitive environment. Beyond academic qualifications, ongoing professional development enhances members’ skills and expertise, opening doors to new opportunities within their respective fields.
The CPE Committee, known for its constructive approach, actively empowers members through comprehensive training programs outlined in an extensive CPE calendar. As per points 6.2 and 8.2 of the Statement on Continuing Professional Education, all Institute members are obligated to meet CPE credit hour requirements specified by the Council. The Council reserves the right to take action, in accordance with relevant regulations, for non-compliance.
Following the Council’s decision at its 426th meeting, members are encouraged to provide their insights on the Exposure Draft regarding “Consequential Provisions for non-compliance with CPE hours requirement on a yearly basis” from the year 2024. The guidelines are expected to be operational from January 1, 2025, addressing non-compliances arising in the calendar year 2024.
The base year for applicability of consequential provisions is set as 2024 in the Exposure Draft. Similar provisions would apply in subsequent years for non-compliance with CPE hour requirements.
Interested parties can submit their comments on the Exposure Draft until January 2, 2024, using the following methods:
1. Online Submission: [Google Form](https://forms.gle/QxqVAxd3zQMAXQteA) (Preferred method)
2. Email: Send comments to cpeadmin@icai.in with the subject line “Comment on consequential provisions for non-compliance with CPE hours requirement on a yearly basis from calendar year 2024 onwards.”
3. Postal: Mail comments to the Secretary, CPE Committee of ICAI, Hostel Block, 2nd Floor, ICAI Bhawan, A-29, Sector-62, Noida 201309.
For further clarifications on the Exposure Draft, inquiries can be directed to cpeadmin@icai.in.
Access the downloadable version of the Exposure Draft here: https://resource.cdn.icai.org/77841cpe62495.pdf
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