Despite back to back lockdowns and restrictions, Institute of Chartered Accountants of India (ICAI) was quite busy all the time in announcements, releasing guidelines and postponing events, etc. However, recently the ICAI highlighted some of the activities that are taken place during the lockdown period with the primary objective of improving the learning, providing guidance or modifying procedures which can be beneficial for its members, students and firms to improve their capabilities and serve the nation with the Motto “Partner in Nation Building”.
The ICAI said that “Various steps and initiatives undertaken with the guidance and support of all members of Council have been widely acknowledged and appreciated by one and all. With our consistent efforts and timely response, we are able to reach and connect with the different segments of our membership be it practitioners, industry, public service, entrepreneurship, senior CAs, or women.
We have taken initiatives considering the requirements and expectations of each segment of the profession. Needless to say that ICAI is expected to forgo more than 100 crores of receipt from Members and students in the form of highly subsidized certificate courses, availability of free CPE Hours, virtual courses/classes, scholarships, etc. to stand together in the hour of crisis,”.
Giving priority to the welfare of its candidates, students, and members. For members the ICAI has taken some important steps, some of them are it provide a facility of online learning for its members completely free, it structured CPE Hour on no cost, organized various webinars related to the contemporary and emerging topics, provided concession on the late fee applicable on the submission of forms by members till June 30, without any penalty, made arrangements to process a large number of application forms of members and students using the latest technology and online facility provided at SSP, introduced the procedure of establishing National Call Centre, promoted e-governance by giving Digi–Locker facility gave permission for Programme Organising Units (PoUs) of ICAI to conduct Virtual CPE Meeting giving Structured CPE Hours for it no cost will be charged till August 2020.
Keeping in the view of the welfare of the students during the tough time caused by the Lockdown and COVID 19 Pandemic Situation, the ICAI undertook some essential activities such as allocated 100 crores as a scholarship for the enhanced, permitted students of Class XII for provisional admission into Foundation course, considered physical absence from training as part of articled training for those articled assistants who were on work on the day lockdown was announced, accepted all application forms by students till June 30, 2020, without any late fee, initiated various online facilities, Started Virtual AICITSS (Adv.IT/MCS) platform, provided content din digital format such as E-books on digital learning hub, StartedLive Revisionary Classes for intermediate and final students appearing for July 2020 examination free of cost, made arrangement for organising Online Mock Tests of students who would appear in the forthcoming July examination and along with all these ICAI developed Industrial Training Portal which will help students to improve their capabilities.
Along with all these, the Institute of Chartered Accountants of India (ICAI) also mentioned that the Institute has also taken some important steps to safeguard firm’s interest undertook activities like for the Members whose Membership and COP got expired or deactivated because they failed to submit restoration applications due to lockdowns and restrictions, ICAI reopened the process and submission window till May 31, 2020, for retrospective restoration.
ICAI also mentioned that it developed a special program on its own Digital hub to improve compatibility and develop capacity related to Forensic tools for effective use on Assurance and professional assignments, etc.