1. What is the current scope of MoU between ICAI & ICAEW?
The MoU provides for Recognition and Examination arrangements for the members of the two largest Institutes. This agreement would facilitate mobility of members across the borders and further strengthen the ties between India and Great Britain. The MoU entitles Institute membership without license to practice. General practice rights excluding auditing rights would be available.
2. What is the effective date of the MoU?
This MoU would be effective from December 01, 2008
3. What is the process for an ICAI member wishing to take up the membership of ICAEW?
Existing members of ICAI, in good standing and with two years post qualification experience which meets the learning outcomes of the two ICAEW Technical Integration papers (may apply for credit for prior learning) will be eligible for ICAEW membership on passing single examination of ICAEW on Case Study. The ICAI members with less than two years experience and who do not meet the learning outcomes of the two ICAEW Technical Integration papers (not able toapply for credit for prior learning) will be required to appear additional papers in Business Reporting (T1) and Business Change (T2) along with the Case Study. All ICAI members must also complete the ICAEW’s online Structured Training in Ethics Programme.
4. What are the costs associated with becoming an ICAEW member?
Registration with the ICAEW
Registration Fee £ 165.00;
and
Credit for Prior Learning Fees
£ 840.00 if sitting the ICAEW Advanced Stage Technical Integration papers; or
£1,150.00 if applying for credit for ICAEW Advanced Stage TI papers
These fees are non-refundable and are required at the point of initial registration
Purchase of ICAEW learning materials (www.gillards. com/icaew)
| Learning materials for TI exams | £ 130.00 |
| Postage and packing | £ 74.74 |
| Learning materials â€" Case Study | £ 65.00 |
| Postage and packing | £ 35.71 |
| Examination( s) Registration | |
| Technical Integration Papers | £ 155.00 each per sitting |
| Case Study | £ 240.00 per sitting |
| Tuition | |
| Please refer to your training provider. This will be the ICAI for any tuition in India | |
| Membership Application | |
| Admission Fee | £ 250.00; |
| and | |
| Full Year Subscription | £ 172.00; |
| or | |
| Half Year Subscription | £ 86.00 |
| (Half year subscriptions apply to all memberships starting on or after 1 July) | |
| Cost for ICAI member qualifying by sitting the Case Study from: | £ 2,077.71 |
| Cost for ICAI member qualifying by sitting the Technical Integration papers and Case Study from: | £ 2,282.45 |
These costs are approximate and are subject to change
5. What is the procedure/steps to be followed to become ICAEW member?
1. Apply to ICAEW in the prescribed format for registration.
2. Register with the ICAEW with requisite documents
3. Purchase learning materials
4. Register for exam(s) as mentioned in 3 above.
5. Sit & pass exams
6. Complete online Structured Training in Ethics Programme (STE)
7. Complete application for membership and file it along with the letter of Good Standing issued by the ICAI
6. What documents are required at the time of registering with the ICAEW?
Registration would require
* Personal Details
* Proof of active ICAI membership
* Proof of Good standing
* Confirmation of work experience
* Registration fee
* Credit for Prior Learning fees
ICAI members with no adverse disciplinary findings made against them and those who have confirmed their compliance with the CPD requirements of ICAI will only be eligible for the arrangement.
7. What is the experience requirement for the ICAI members?
An ICAI member with a minimum of two years’ post qualification experience which has been certified by their current (and, if appropriate, past) employer(s) which meets the aims and learning outcomes of the ICAEW’s Technical IntegrationBusiness Change and Technical Integration Business Reporting papers. ICAI members who are sole practitioners may self-certify that their post-qualification experience meets the aims and learning outcomes of these papers. These members will also need to complete the ICAEW Structured Training in Ethics programme in order to become eligible for ICAEWmembership.
Those ICAI members with less than two years’ post qualification experience will be required to sit for and pass, Technical Integration Business Reporting, Technical Integration Business Change and the Case Study papers, and to complete the Structured Training in Ethics programme in order to become eligible for ICAEW membership.
There is no additional requirement to undertake any additional training experience or to take any other examinations.
8. How do I apply for credit from the two technical integration papers?
Post qualification experience (work experience)
You must have two years’ post qualification experience, and this must be certified by your current (and if appropriate, past) employer as meeting the learning outcomes of the ICAEW’s Technical IntegrationBusiness Change and Technical Integration Business Reporting papers.
Learning outcomes
To assess this, please review the learning outcomes (PDF 62kb/9 pages). If you are employed, you will need to ask your employer to review these documents before confirming within your letter of employment confirmation that you have covered ALL of these outcomes in your period of employment. If your employer does not clearly state that you have met all of the learning outcomes, your application for credit for the two technical integration papers could be refused.
Sole practitioners
ICAI members who are sole practitioners may self-certify that their post-qualification experience meets the aims and learning outcomes of these papers. Applicants will not need to return the completed learning outcome grids with their application, however these should be retained as the ICAEW may request copies of an applicants completed grids prior to admission tomembership.
9. What is the sequence in which the requirements as stated at 3 above need to be undertaken by an ICAI member?
(i) Structured Training in Ethics
Following successful registration with the ICAEW, an ICAI member can immediately access the Structured Training in Ethics programme.
An ICAI member may complete the Structured Training in Ethics (STE) Programme at any point between ICAEW registration and application for ICAEWmembership. The programme is independent of the ICAEW examination papers and is a web-based training package which is based on interactive case studies and self-test questions. It is split into three stages that are usually designed to be spread over the length of an ACA students training contract, however for experienced professionals this could be covered intensively in around 5 hours.
The STE programme provides:
* Structured training in professional ethics
* case studies and other material on some of the issues you are likely to face
* Sources of further information and support.
The programme’s objectives are to:
* familiarise ICAI members with the ICAEW’s code of ethics
* show the member how to apply the fundamental principles (and ethical guidance) in their work
* help the member to recognise ethical issues, make ethical decisions and resolve dilemmas
* help the member know when (and who) to ask for help with ethical matters.
Completion of the STE programme will be mandatory for members of the ICAI wishing to join the ICAEW. Please visit the ICAEW website for a copy of the Structured Training in Ethics Programme to review. You will need to extract the downloaded files and save them to your hard drive, before the programme will run.
(ii) Technical Integration Papers
The two Technical Integration papers and the Case Study are all written examinations, which would take place under exam conditions. The Case Study must be the last exam attempted by a candidate, however the regulations do allow for all three papers (TI â€" Business Reporting (TI BR), TI â€" Business Change (TI BC), and the Case Study) to be sat in one session.
If a candidate who has not gained the two years’ post qualification experience chooses to sit the papers over more than one session, they must take the two Technical Integration papers first. The Technical Integration papers should be attempted at the same sitting due to their common technical content.
10. How are the requirements, as stipulated in question 3 above, administered?
An ICAI member may complete the Structured Training in Ethics program at any point between ICAEW registration & application for ICAEW membership. The program is independent of the ICAEW examinations and is a web based training package.
Completion of the STE program would be mandatory for members of the ICAI wishing to join the ICAEW.
All examinations will take place at British Council offices and would be administered by the ICAI or a representative of the ICAEW from the British Council.
11. Do I need to take tuition before attempting the ICAEW examinations?
Professional tuition for the ICAEW examinations is not mandatory. However, while not mandatory, it is strongly recommended for all candidates, as it gives individuals the best chance at passing the examinations.
Tuition / training would be available for:
a) TI â€" Business Reporting
b) TI â€" Business Change; and
c) Case Study
Tuition in the UK is provided by ICAEW Training Partners, you would need to arrange this independently. Full lists of tuition centers are available on ICAEW website.
Tuition in India will be imparted by ICAI. ICAI members wishing to undertake professional tuition in respect of the Technical Integration and Case Study papers should contact the ICAI directly. Details shall be available at ICAI’s website shortly.
For ICAI members located in Dubai, ICAEW’s ‘Partner in Learning’ Phoenix Financial Training is running ICAEW classes specifically tailored towards ICAI members. These classes are based in Dubai. For more information, please contact Erica Johnson at Phoenix Financial Training on ericaj@phoenixft. com or on +971 (0)50 295 6331.
ICAI members located in Kuwait interested in classes should contact jonathan.worrell@ icaew.com. Plans are in place to deliver tuition in Kuwait, dependant upon demand. More details will be available shortly.
If you are an ICAI member now located outside of India and not in one of the areas mentioned above should refer to our tuition pages for a full list of UK and international tuition providers.
No training would be required for the completion of the Structured Training in Ethics program.
12. Is there any specified time lag between registration and taking of examinations?
The ICAEW Technical Integration and Case Study papers are only sat in July and November. Please refer to the website for all exam registration deadlines.
13. What would the training encompass?
If you are an ICAI member undertaking tuition in the UK for the ACA Advanced Stage (i.e. the Technical Integration papers plus the Case Study) the syllabus is usually taught over approximately 7 weeks full-time by current professional providers. The Case Study is integrated within these 7 weeks but, if de-coupled, is usually taught over approximately 10 days full-time (including pre-examination revision). This timeframe is based on the time spent the classroom, candidates are expected to do further work outside the classroom over this period.
If you are an ICAI member wishing to undertake tuition in India the study arrangements may be different. Please contact the ICAI for more information.
14. How many attempts are allowed per paper in order to be eligible for membership of the ICAEW?
A maximum of four attempts are available per paper for all examinations. However, one is advised to sit no more than 3 times in order to remain eligible to apply for credit for prior work experience if you have at a later stage gained the appropriate two years’ post qualification work experience.
15. What is the pass percentage in each paper?
Pass marks are 50% in the Technical Integration and Case study papers.
16. I am a member of the ICAI and am already studying for the ACA, can I take advantage of the additional credits?
If you are already registered as a student with the ICAEW, you will be eligible for transition onto the new scheme. Please contact the student support team for information on your particular circumstances.
17. I am a member of the ICAI based in India, can I come to the UK for tuition?
If you are based in India and would like to come to the UK to study for the ACA, you would need to obtain a visa. Please visit the UK Border Agency section of the Home Office website http://www.ukba. homeoffice. gov.uk/ to assess you eligibility. You would need to apply for this independently.
18. I would like to take the ICAEW examinations in India, where will I be able to sit these?
Examinations in India will be available at British Council Offices subject to demand. A list of the British Council Offices in India can be found on the British Council website.
Centres available for 2009 include:
? New Delhi
? Mumbai
? Chennai
19. Once I become an ICAEW member can I become an ICAEW student counsellor?
Members joining via the ICAI advanced credit route may become ICAEW counselors within an ICAEW authorized training office upon ICAEW membership.
In order to become an ICAEW qualified person responsible for training ICAI members will need to have held their ICAI membership for two years.
20. Who would be the contact person in India in case of any issues?
Mr V Sagar
Joint Secretary
The Institute of Chartered Accountants of India
ICAI Bhawan
PB No. 7100, Indraprastha Marg
New Delhi â€" 110 002, India.
E-mail: icaewmra@icai. in
Website: www.icai.org
21. Who can I contact at the ICAEW in case of any issues?
ICAEW Membership Enquiries
The Institute of Chartered Accountants in England & Wales
Metropolitan House
321 Avebury Boulevard
Milton Keynes
Buckinghamshire
MK9 2FZ
UK
E-mail: studentsupport@ icaew.com
Website: www.icaew.com/ icai
Tel: +44 (0)1908 248040
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