Chartered Accountancy: A Prestigious & Rewarding Profession

Chartered Accountancy: As a Profession

Chartered Accountancy is a prestigious, responsible and rewarding profession. It imparts the best combination of theoretical knowledge, practical experience with analytical as well as technical skill to look after the entire operations and management of the modern business organizations. In recent few years there has been rapid transformation in the scope of Chartered Accountants. Globalization, liberalization and revolution in information technology have totally changed not only the scope of CAs in financial reporting but also in many other areas where expertise of professional accountants is requisite.

Chartered Accountants, today hold top management position in public as well as private sector. By dint of professional qualification and specialized knowledge, Chartered Accountants are rendering various types of consultancy services like formulation of profit planning program, guiding the managerial decisions, feasibility studies, investment proposals, tax management consultants and so on. Apart from the traditional work of performing various types of audits, many CAs are serving private and public sectors in the capacity of Chief Executive Officer, Managing Director, Finance Director, Chief Operating Officer, Internal Auditor etc. There is a sustained demand for qualified, trained and experienced Chartered Accountants Day by Day. Chartered Accountants are also holding key position in Government Sector. Having vast and specialized knowledge in financial matter their services are recognized by the Government, Public as well as Private sector leading to placement at various levels in the field of accounting and management functions. Rapid changes in economy brought by globalization have further opened opportunities to the Chartered Accountants for many challenging and rewarding career options. Due to the increasing demand for their services, the average earning/remuneration packages of Chartered Accountants has also steadily increased.

Association with International Professional Bodies

The Institute of Chartered Accountants of Nepal (ICAN) is the member of the International Federation of Accountants (IFAC), the Confederation of Asia and Pacific Accountants (CAPA) and the South Asian Federation of Accountants (SAFA).

Chartered Accountancy Course:

CA course is challenging. Based on distance learning module, it involves in depth theoretical education and practical training imparting sound analytical and problem solving skills to the students.

The course is divided into three levels:

The course is divided into:

• CAP - I - Six Months.
• CAP - II - Nine Months.
• CAP -III - Three Years (including practical training).

How to become a Chartered Accountant?

After taking the course offered by the Institute qualifying its final examinations and acquiring three years practical training, one can become a Chartered Accountant and member of the Institute.

Chartered Accountancy Professional-I Level:

This is an entry level test for Chartered Accountancy Course. The duration of CAP-I course is six months. This is basically for the students willing to enter in the professional CA course immediately after completion of higher secondary education (10+2, PCL, A Level or Equivalent). The course has been designed to provide students basic knowledge and skills as part of the entry standard for the professional level.

Eligibility Criteria

The following students are eligible to register for CAP-I Level:

1. Students completing the higher secondary (10+2) or certificate level examination from recognized academic institutions having minimum GPA of 2.4 or C+ grade or 50% or above or equivalent.
2. Graduates/Post Graduates who have scored less than 50% in Commerce, Business Administration or Management with Accounts, Audit or Tax as a major subject or Graduates/Post Graduates who have scored less than 55% in Commerce, Business Administration or Management with other than Accounts, Audit or Tax as a major subject or Graduates/Post Graduates who have scored less than 60% in faculty other than Commerce and thus were ineligible to register directly in CAP-II Course (See eligibility criteria for CAP- II Level).

Provisional Registration

Candidates who have appeared in 10+2 or equivalent examinations may also register provisionally in CAP-I level. However, such provisional registration shall be confirmed only after satisfactory proof of having passed the said examination within a period of 6 months from the date of provisional registration. The proof of having passed the said examination shall be uploaded through student login portal of the student. Failure to comply with this shall result in the cancellation of provisional registration and fees paid for provisional registration shall not be refunded.

Procedure for Registration:

Registration in CAP-I is open throughout the year. Examination is held twice a year - one in June and the other in December. For appearing in the June examination, registration should be done on or before the end of November of the preceding year and on or before end of May for the December examination. Registration shall be done online through the following link: Online Registration portal

Scan Copy of following documents are required for registration:

1. Passport Size Photo of the Student.
2. Signature of the Student
3. Citizenship Certificate/Passport
4. Marks Sheet/Transcript of SEE Examination
5. Character Certificate of SEE Examination
6. Admit Card of 10+2 or equivalent examination for provisional registration or Marks Sheet/Transcript and Character Certificate of 10+2 or equivalent examination

ICAN has also been organizing orientation program for the students willing to enroll in CA course.

The Fee Structure:

The total fee for the CAP-I Level course is Rs. 27,500.00. It can be paid fully at the time of registration or also on Installment basis.

• Rs. 15,000.00 at the time of Registration and
• Balance NPR. 12,500/- within 3 months from the date of registration.

The Course:

The CAP-I Course consists of 3 papers, each carrying 100 marks as follows:

Eligibility Criteria for Examination:

For appearing in the CAP-I examination students are required to pass Eligibility/Pre-Test as prescribed by ICAN. The pre-test is organized online by the Institute. The criteria and rules, operational guidelines and video tutorial of such online pretest can be accessed through the following link: Video Tutorial The student shall pass the eligibility test at least 3 months ahead of examination date and within 3 years from the date of registration. The eligibility test will be conducted till the end of August for the students appearing in the December examination and till the end of February for the students appearing in the June examination every year. Failure to pass eligibility test is subject to cancellation of registration after prescribed time period. However, such students can re-register with the Institute as de-novo.

What after Completion of CAP-I ?

After successful completion of the CAP-I Level, students shall enroll to the CAP-II level of Chartered Accountancy course.

Chartered Accountancy Professional - II Level:

CAP-II course is basically designed with an aim of providing students with requisite knowledge and skills in the subject.

Eligibility Criteria:

• Passed the CAP-I Level Examination, or
• Be a Graduate or Postgraduate in Commerce, Business Administration or Management having Accounts, Audit and Tax as a major subject and secured a minimum of 50% aggregate marks, or
• Be a Graduate or Postgraduate in Commerce, Business Administration or Management having major subject other than mentioned above and secured a minimum of 55% aggregate marks, or
• Be a Graduate or Post Graduate other than above with a minimum of 60% aggregate marks.

Provisional Registration:

Candidates who have appeared in the final year of graduation or post-graduation examination can register provisionally for CAP-II level. However, such provisional registration shall be confirmed only upon submission of proof of having passed the aforesaid examination with minimum marks furnished within a period of 6 months from the date of provisional registration. The proof of having passed the said examination shall be uploaded through student login portal of the student. Failure to comply with this shall result in the cancellation of provisional registration and fees paid for provisional registration shall not be refunded.

Procedure for Registration:

Registration for the CAP-II Level is open throughout the year. Examination is held twice a year - one in June and the other in December. For appearing in the June examination, registration should be done on or before the end of August of the preceding years and on or before end of February for the December examination. Registration shall be done online through the following link: Online Registration portal

Scan Copy of following documents are required for registration:

1. Passport Size Photo of the Student
2. Signature of the Student
3. Citizenship Certificate/Passport
4. Marks Sheet/Transcript and Certificate of CAP-I Level; or Scan Copy of Admit Card of final year of graduation or post-graduation examination for provisional registration or Marks Sheet/Transcript and Character Certificate of graduation or post-graduation.

The Fee Structure:

The total fee for the CAP-II Level course is NPR. . 32,500/-. This  can be paid fully at the time of registration or also on Installment basis as follows:
NPR. 17,500/- at the time of Registration and
Balance NPR. 15,000/- within 6 months from the date of registration. 

The Course:

The CAP-II Level Course consists of 7 papers divided into 2 groups, each carrying 100 marks as follows:

Eligibility Criteria for Examination:

For appearing in the CAP-II examination students are required to pass Eligibility/Pre-Test as prescribed by ICAN. The pre-test is organized online by the Institute. The criteria and rules, operational guidelines and video tutorial of such online pretest can be accessed through the following link: Video Tutorial . The student shall pass the eligibility test at least 2 months ahead of examination date and within 3 years from the date of registration. The eligibility test will be conducted till the end of August for the students appearing in the December examination and till the end of February for the students appearing in the June examination every year. Failure to pass eligibility test is subject to cancellation of registration. However, such students can re-register with the Institute as de-novo.

What after Completion of CAP-II ?

After successful completion of the CAP-II Level, students shall enroll in CAP-III Level of Chartered Accountancy course.

Chartered Accountancy Professional (CAP)-III Level:

Eligibility Criteria:

1. Passed both groups of CAP-II Level Examinations.
2. Obtained certificate of completion of 60 hours of IT Training conducted by the Institute.
3. Obtained Certificate of Participation in Pre-Articleship Orientation Program.
4. Registered as an articled trainee under a practicing Chartered Accountant by signing an Articleship Deed. However, it must be noted that the Articleship Deed must be submitted to ICAN within one month from the date of signing the deed.

Procedure for Registration:

1. Passport Size Photo of the Student
2. Signature of the Student
3. Articleship Deed duly signed by the Principal and the Student.
4. Certificate of Completion of 60 Hours of IT Training.
5. Certificate of Completion of Articleship Orientation Training.
6. Marks Sheet and Certificate of CAP-II Level.

The Fee Structure:

The total fee for the CAP-III Level course is NPR 40,000/-. It can be paid fully at the time of registration or also on Installment basis as follows:

NPR. 20,000/- at the time of Registration and

Balance NPR. 20,000/- within 1 year from the date of registration.

Articleship Training:

During the CAP-III Level Course, student should undergo paid Articleship for the period of 3 years as an Articled Trainee under a practicing Chartered Accountant.

The Course:

The CAP-III Course consists of 8 papers divided into 2 groups, each carrying 100 marks as follows:

Eligibility Criteria for Examination:

For appearing in the CAP-III examination students are required to pass Eligibility/Pre-Test as prescribed by ICAN. The pre-test is organized online by the Institute. The criteria and rules, operational guidelines and video tutorial of such online pretest can be accessed through the following link: Video Tutorial . The student shall pass the eligibility test at least 2 months ahead of examination date and within 3 years from the date of registration. The eligibility test will be conducted till the end of August for the students appearing in the December examination and till the end of February for the students appearing in the June examination every year. Failure to pass eligibility test is subject to cancellation of registration. However, such a student can re-register with the institute as de-novo.

What after Completion of CAP- III?

After successful completion of the CAP-III Level course, an Individual participate in GMCS training conducted by ICAN and may apply for the membership with ICAN. Only those who are the members of ICAN can use the designation "Chartered Accountant" in full or "CA" in brief and can practice Accounting Profession after obtaining Certificate of Practice.

Trainings for Students

1. Student Orientation Program:

2. Pre-Articleship Orientation Program:

3. Information Technology (IT) Training:

Syllabus and Assessment:

4. General Management and Communication Skills (GMCS) Training:

Articleship Training:

Registration deadline:

Scholarships

Scholarship Fund

ICAN has established a "Chartered Accountancy Scholarship Fund" in May, 2007. The scholarship shall be awarded to talents and poor students to pursue the Chartered Accountancy Education, who would other wise choose their career in other fields of study due to their poor financial condition.

Establishment of Scholarship Fund

The Scholarship fund can be established by an INDIVIDUAL or CORPORATE ENTITY in their name by depositing the following specified sum.

To establish a scholarship fund in the name of individual, a sum of Rs. 3, 00,000.00 shall be deposited in lump sum.

To establish a scholarship fund in the name of Corporate Entity, a sum of Rs.5,00,000.00 shall be deposited in lumpsum.

If any individual or Corporate Entity instead of contributing the amount in the scholarship fund wishes to finance the students at various level selected by the Scholarship Selection Committee, then they can do so by depositing the required amount in the Scholarship Fund.

Scholarship Schemes

Following types of scholarship shall be awarded to the students.

Full scholarship, which includes complete waive of application, registration & examination fees payable to the ICAN. Apart from the above, the following facilities will be provided, to the students who have received the scholarship, out of the scholarship fund amount.

• Study materials
• Other materials published by the ICAN
• Participation in various courses conducted by the ICAN.

Scholarships announced every year effective from 2007.

Who Can Apply for Scholarship?

Students who have met the following requirement may apply for scholarship.

• Chartered Accountancy Professional (CAP)-I Level:
  • Those students who have scored minimum 2.8 CGPA or equivalent grade in Management stream or 3.2 CGPA or equivalent grade for stream other than Management and economically and geographically backward may apply for Scholarship on Economically and Geographically Backward Basis.
  • Those students who have scored minimum 3.2 CGPA or equivalent grade in Management stream or 3.6 CGPA or equivalent grade for stream other than Management may apply for Scholarship on Merit Basis.
• Chartered Accountancy Professional (CAP)-II Level:
  • Those students who have scored minimum 60% or equivalent grade in Bachelor Degree or CAP I level and economically and geographically backward may apply for Scholarship on Economically and Geographically Backward Basis.
  • Those students who have scored minimum 75% or equivalent grade in Bachelor Degree or CAP I level may apply for Scholarship on Merit Basis.

Medals and Awards

ICAN has also been awarding medals and certificates to the merit holder students securing highest marks in different levels of CA Education.

Student Exchange Programme

ICAN has a tradition of sending its students t o student exchange programme organized by the SAFA member bodies such as the Institute of Chartered Accountants of India (ICAI), the Institute of Chartered Accountants of Pakistan (ICAP), the Institute of Chartered Accountants of Sri Lanka (ICASL), the Institute of Chartered Accountants of Bangladesh (ICAB). ICAN students have participated in student exchange program organised by ICAI, ICAP, ICASL and they have also presented technical papers in students conference. This gives the broader vision and exposure to the students of ICAN in an International arena.

Seminar Conference and Counselings

ICAN conducts various Seminars, Workshops, Trainings and Conferences regarding issues relating to financial matters, taxation and other related contemporary topics time to time.

ICAN also participates in different Career fairs and conducts free Chartered Accountancy Education awareness programme to the prospective students in various Colleges and Educational Institutions throughout the length and breadth of the country.

Career Option for Chartered Accountant:

The quality services rendered by Chartered Accountants in corporate sector in National and International area, the demands of Chartered Accountants increasing day by day in corporate society. Career options for CAs include the followings:

• Set up his own practice by obtaining Certificate of Practice (COP)
• Join public or private sectors at Managerial and Policy making Level, Join services in NGOs or INGOs
• A c t as trustee, executor, administrator valuator, liquidator, advisor, consultant or as a representative for finance matters including taxation, corporate law matters etc
• Designing and implementation of accounting system
• Undertake capital projects, feasibility studies, project reports etc Certification functions and valuator of business. Advise the matters regarding merger and acquisition of business or planning activities and so on.