Colleges approach ICAI for affiliation to train students for Foundation Course

“There is a noticeable shift in the desire of bright students to become accounting professionals”

May 25, 2019 07:35 am | Updated 07:35 am IST - TIRUCHI

A number of arts and science colleges in the region have approached the Tiruchi Branch of SIRC of The Institute of Chartered Accountants of India for affiliation.

The ICAI has entrusted the local chapters with the responsibility of affiliating colleges and enable them prepare the students for Common Proficiency Test or Foundation Course, the first of the four levels. Based on the commitment of the learners, they go up to second, third and fourth levels. Clearing the Foundation Programme is a necessity for students to appear for Integrated Professional Competence Course. Thereafter, the students will be required to undergo three years of Articleship under any Chartered Accountant who is practising the profession to become eligible to appear for the CA Final Exam.

“We visit the colleges and help them comply with the requirements to conduct classes for the Foundation Course,” UL Karthik, Chairman, Tiruchi Branch of Southern India Regional Council (SIRC) of ICAI, said.

Post implementation of GST (Goods and Service Tax), there has been a greater inclination on the part of the creme-la-creme of B.Com students to acquire professional qualification in Chartered Accounting, Mr. Karthik said.

The Institute of Cost Accountants of India, Tiruchi Chapter, also reaches out to colleges through career counselling programmes. “Every year, we visit 50 to 60 colleges covering at least 5,000 students,” C. Subramaniam, Chairman of the Tiruchi Chapter, said.

There has been a noticeable shift in the desire of bright students to become accounting professionals rather than secure jobs in banks, Mr. Subramaniam said.

The local chapter of Institute of Cost Accountants of India has been conducting coaching in the morning and evening sessions for the convenience of students enrolling in B.Com in day and evening colleges, he said.

Integrated programmes for commerce students by colleges through tie-up with the three professional bodies - ICWAI, ICAI and Institute of Company Secretaries of India - will stand serious learners in good stead for smooth progress in career ladder, M. Selvam, Professor and Head, Department of Commerce and Financial Studies, and Dean, Faculty of Management, Bharathidasan University, said.

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