ICAI CPE Hours Credit for CA’s from 2014 to 31st Jan 2017

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Chartered Accountancy is a profession wherein you have to continuously keep updating your knowledge so as to stay abreast with the latest changes. To ensure that CA’s continuously keep updating their knowledge, ICAI has made Continuing Professional Education (CPE) mandatory for all CA’s. All CA’s are required to their keep updating their knowledge and complete a specified number of CPE Hours at regular intervals.

The CPE Hours can be divided into 2 parts:-

  1. Structured Learning Activities (SLA’s) i.e. attending Seminars, Conferences etc organised by ICAI
  2. Unstructured Learning Activities (ULA’s) i.e. updating the knowledge themselves by reading journals, through internet etc.

CPE-hours-credit

CPE Hours requirement for the period 1st Jan 2014 to 31st Jan 2017

The minimum requirement of CPE Hours is on a periodic basis of 3 years and currently the applicable period is from 1st Jan 2014 to 31st Jan 2017. CA’s are required to meet this requirement on a 3 year periodic basis but also on a per year basis.

CPE hours are required to be completed in a block of 3 years and the 3 year period starting from 1st Jan 2014 ended on 31st Dec 2016. However, ICAI has decided to extend the last date for completing CPE Hours from 31st Dec 2016 to 31st Jan 2017.

The following is the minimum CPE hours requirement for CA’s residing in India and are below 60 years of age

3 year period from 1st Jan 2014 to 31st Jan 2017

Particulars

Holding COP

Not Holding COP

Total Min Hours

90

45

Total Min Structured Hours

60

No min requirement

Total Min Unstructured Hours

No min requirement

No min requirement

1 year period i.e. individually for 2014, 2015 & 2016

Particulars

Holding COP

Not Holding COP

Total Min Hours

20

10

Total Min Structured Hours

20

No min requirement

Total Min Unstructured Hours

No min requirement

No min requirement

Structured ICAI CPE Hours

The following are some of the examples of Structured Learning Activities of specified by ICAI:-

  1. Attending Seminars, Conferences, Workshops, Certificate Courses conducted by ICAI and POU’s
  2. Participation in activities of ICAI Study Groups
  3. Publication of Article in ICAI Journal
  4. E-Learning Courses conducted by ICAI

For a detailed note on the learning which qualifies as Structured Learning and the hours allocated for each type of learning, kindly download this file on Structured Learning Activities.

For a list of upcoming events in your city which qualify to be claimed as Structured Learning Activities, refer this link on upcoming Programs.

Unstructured CPE Hours

The following are some of the examples of Unstructured Learning Activities which can be claimed as credit for CPE Hours:-

  1. Self Learning Modules and Courses
  2. Reading ICAI Journal  or other Business Journals
  3. Acting as Visiting Faculty of Various Universities
  4. Providing solutions to questionnaires/ puzzles available on the web like caclubindia, charteredclub etc
  5. Viewing of Programs on the web channel of ICAI

CA’s would be required to maintain and retain proper records of unstructured learning undertaken by them i.e. type of unstructured activity, topic, date, and no. of hours. The members would also be required to submit a self-declaration form every year to avail the credit for CPE Hours of Unstructured Learning.

For a detailed note on the learning which qualifies as Unstructured Learning and the hours allocated for each type of learning, kindly download this file on Unstructured Learning Activities.

This self declaration form for Unstructured Learning Activities to be claimed as credit is required to be submitted every year on or before 31st May of the next year. The CPE Hours Form for Unstructured Activities can be downloaded from here: http://www.icai.org/resource_file/13090announ220908.pdf

Check Status of your CPE Credit Hours

ICAI has also provided the facility of checking the CPE Hours completed by a CA on their website. CA’s can check the same on http://cpe.icai.org/. The membership no. of the CA would be the username and the password is “CPE + 6 digit membership no.”

Penalty for Non Compliance with CPE Hours

If a CA fails to comply by the CPE Hours requirement, his/her name would be hosted on the website of ICAI for the information of the public at large. Moreover, ICAI will not be responsible in any way for any action taken by any of the regulatory authorities on the basis of the names hosted on the website for allotting the professional work to them as sole proprietor or to their partnership firm.

To get their names removed from this list, a CA would be required to complete double the hours of shortfall. Such additional hours should be completed in addition to the regular CPE hours requirement for the particular Calendar year in which they are making up the shortfall.

How CA’s can earn extra Income by recommending Financial Products

A Doctor earns money both by providing consultancy as well as on the sale of Medicines. Both the Consultancy as well as the Medicine are important for a speedy recovery of the Patient.

Similarly, smart CA’s also earn by providing consultancy and recommending financial products to Clients which will reduce the Tax Liability and also increase the Wealth of the Clients over a period of time.

These Financial Products which are good for the Financial Health of the Clients and also help CA’s earn a decent income on recommendation have been explained in detail in this e-book which can be purchased for Rs. 99 from this link – Financial Products which CA’s can refer to their Clients and make good Money in 2017

Karan is CA by Qualification with the rare distinction of being awarded All India Rank 22. He is also the founder of this website and loves to help people with their Tax Queries.