To ensure that its members maintain the necessary professional competence, thereby upholding high standards in the professional services they provide, the Institute of Chartered Accountants of India (ICAI) has emphasised Continuing Professional Education (CPE) as a primary focus area. The Council of ICAI has released guidelines on CPE, outlining the requirements for members and the process for implementation by Programme Organising Units (POUs), effective from January 30, 2024.
All Institute members must fulfill the CPE credit hours as per the Council's specifications, with certain exemptions applied:
New members are exempted from meeting the CPE credit hours for their first calendar year of membership.
Various categories of members, including those aged 60 and above without a Certificate of Practice, judges, politicians, civil servants, entrepreneurs, and others, are exempt from CPE credit requirements, subject to certain conditions.
Members seeking exemptions must declare non-performance of attestation functions during the exemption period, verifiable through the ICAI's UDIN Portal.
The Council may, at its discretion, grant full or partial exemptions based on individual cases preventing compliance with CPE requirements.
CPE credit hours are determined based on the time spent on learning activities, with structured learning requiring a minimum of two hours and unstructured learning requiring one hour. The CPE Advisory provides lists of eligible activities for both categories.
Non-compliance with CPE requirements from 2024 onwards will result in consequences determined by the Council, under relevant laws and regulations. POUs are responsible for maintaining attendance records, while members must keep records of their CPE compliance for verification by the Institute.
The CPE Committee (CPEC) holds various powers and functions, including designing the CPE Calendar, approving learning activities for credit hours, and ensuring program quality and member participation. The Committee may issue guidance notes or circulars for the smooth execution of CPE objectives.
Members have six months at each level to rectify CPE hour shortfalls, with consequences for non-compliance, starting from calendar year 2024. Good Standing Certificates will be deferred until full compliance is achieved. Consequential provisions for non-compliance will apply from calendar year 2025 onwards.
Check the detailed guidelines here
