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March 11, 2010 |
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New Exemption from Employment Requirement for Students In recognition of the difficulty that a significant number of otherwise qualified individuals may be having in securing employment in a CA Training Office (CATO) during the current economic downturn, the Institute's Council recently approved the introduction of a new Section 210 (Exemption from Employment Requirement) in Regulation I, A regulation in respect of students. The new Section 210 provides, at the Registrar's discretion, the granting of exemptions from the requirement to be employed in a CATO for the purpose of registering as a student with the Institute, as a condition for eligibility to write the Core-Knowledge Examination (CKE) or to enroll in the School of Accountancy. This provision is a temporary measure that will be available in times of economic downturns to assist prospective students who are unable to obtain employment with CATOs. The intention of this new Section is to enable individuals who have met the Institute's four-year, 120 credit-hour university degree or equivalent, 51 credit-hour with minimum 'B' (70%) Grade Point Average (GPA) requirements (or equivalent for those students registered in Institute accredited programs/streams) to register with the Institute without first having to obtain employment in a CATO. These individuals may then proceed through the ICAO Professional Program – the Core-Knowledge Examination (CKE), School of Accountancy (SOA), SOA Final Examination, and the Uniform Evaluation (UFE) – if otherwise eligible – without employment. Ultimately to apply for admission to membership as a CA, any student who has been granted exemption by the Registrar under Section 210 must obtain employment in a CATO, fulfill the experience requirements set out in Section 701, and successfully complete or comply with all other requirements of Regulation I. More information is available.
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