Transitioning from Old to New IPCC Group: A Guide for Students
Are you a student who has cleared Group 1 of the Integrated Professional Competence Course (IPCC) in the old Chartered Accountancy (CA) curriculum and are considering taking on Group 2 in the new course? If so, this article is for you. Learn about the transition process, the examinations you need to take, and the guidelines set by the Institute of Chartered Accountants of India (ICAI).
Can You Transition from Old to New IPCC Group?
Yes, a student who has successfully cleared Group 1 of the IPCC integrated professional competence course in the old course can indeed appear for Group 2 in the new course under the Chartered Accountancy CA curriculum. The ICAI allows students to transition smoothly from the old course to the new one and carry forward their passed subjects. However, it is essential to check the specific guidelines and notifications issued by the ICAI regularly, as policies may change.
As of now, students who have completed Group 1 under the old syllabus will need to take only 3 papers for Group 2 in the new syllabus — Papers 56 and 7. Paper 8, which is a part of Group 2 in the new syllabus, will be exempted for those who have already cleared it under the old syllabus.
Examination Deadlines and Future Notifications
Earlier, it was noted that the last attempt for the IPCC old syllabus was in May 2020. However, recent notifications from the ICAI have extended the examination period. The Institute of Chartered Accountants of India has now allowed old IPCC students two more additional attempts. This means that students can now take their IPCC examinations in May 2019, November 2019, and May 2020. This provides a significant buffer period for candidates to secure their clearances.
Key Dates and Deadlines:
May 2019: Final examination for IPCC Group 1 under the old syllabus
November 2019: Attempt for IPCC Group 2 (new syllabus) after clearing Group 1 in May 2019
May 2020: Final examination for IPCC Group 2 (new syllabus) after clearing Group 1 in one of the previous attempts
Based on the latest information from ICAI, if a student clears Group 1 in May 2019, there is no need to appear for Paper 8 again when transitioning to the new syllabus for Group 2. Paper 8 will be exempted, allowing students to focus on the remaining papers.
Prepare Thoroughly and Focus on Studies
Given the extended examination period and the new series of attempts provided by the ICAI, it is advisable for students to put in their best efforts to clear both the groups of the IPCC by the time of the May 2020 examination. This allows ample time to address any remaining topics and ensure a smooth transition from the old syllabus to the new one.
Stay informed about the latest notifications and guidelines from the ICAI to avoid any confusion. Regularly reviewing the official ICAI website and contacting the institute for clarification will help ensure a successful transition.
With the right preparation and focus, transitioning from old to new IPCC Group is entirely feasible and can pave the way for a successful career in the field of chartered accountancy.