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A student of the Institute who is working or has already worked in any of the recognized areas as given in Clause 4 and in any of the recognized Organizations as given in Clause 3, can claim exemption from Practical Training.
Clause 3: Recognized areas for Training
Management Accounting
Cost Accounting
Financial Accounting
Financial Management
Auditing
Regulatory compliances
Direct Taxation
Indirect taxation
Corporate Laws, Industrial Laws, Commercial Laws
Systems Analysis, Information Technology (including ERP system)
Project Management
Banking Operation
Insurance
Valuation
Financial Services
Teaching in Finance, Accounts, Costing, Taxation and Management.
Management Consultancy Services as defined in appendix 6 under Regulation 111 of CWA Regulation, 1959.
Engineering Services involved in production of power or any manufacturing activities, Project Planning & Management, Quality Assessment, and Supply Chain Management.
Any other areas approved by the Council.
Clause 4: Period of Practical Training
A Student of Revised Syllabus 2008/Syllabus 2012, unless exempted from taking practical training, must register for Practical Training with the Practicing Accountants/firm of Cost Accountants or organizations as referred to clause 3 above, for a period of at least one year and must have completed at least 6 (Six) months of Training for becoming eligible to make application for appearing in the Final Examination. This Period of 6 (Six) months as referred to herein, should be completed by 31st March or 30th September for the following June & December term of Examination respectively. In case of change of Principal/Employer, i.e. students serving under different Principal/Employer, the accumulated period of training shall include training periods undergone with different Principal/Employers, including the days of leave availed as per rules but excluding excess leave availed, if any. Not more than two changes shall be allowed within a period of one year. This scheme of completion of at least 6 (Six) months of Training, having registered for training of one year will be effective from December 2013 term of examination onward.
For more, refer- http://www.icwai.org/icwainew/docs/FAQ/Training_FAQ.pdf
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