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Advisory Under ICAN

Advisory Level including a three years practical training is designed to enhance a deeper and advanced level of professional expertise on the subjects. During advisory level, student is required to go through a paid internship/articleship of 3 years.

Admission Eligibility

To enroll in the Advisory Level, a candidate must have

  1. Passed Application level (Both groups)
  2. Completed 40 hours of IT Training
  3. Completed GMCS
  4. Registered as an Article Trainee under a practicing Chartered Accountant by signing a deed of articleship. This signed deed of articleship should be submitted to ICAN within 1 months of signing.

Registration Deadline for Advisory Level

Advisory level registration are open all over the year. However student shall register in Advisory level at least 2 years before the Advisory level exams. Advisory level exams are held similarly in June and December. Two registration are to be done,

First: Articleship registration
Second: Advisory level registration

To be eligible for Advisory level exams in December (say 20X5),

  • 2 years of registration should be covered till November 30, 20X5
  • Which means the last date for registration will be December 1, 20X3 
  • Generally, students who appear for Advisory level in June exams, their results of Application level are declared during the mid of August. These students generally have 3.5 months for Advisory level registration to get nearest exams. 

To be eligible for Advisory level exams in June (say 20X6),

  • 2 years of registration should be covered till May 31, 20X6
  • Which means the last date for registration will be June 1, 20X4 
  • Generally, students who appear for Application level  in December exams, their results of Application level are declared during the mid of February. These students generally have 3.5 months (February Mid to June 1) for Advisory level registration to get nearest exams. 

Course Structure

Group 1

Paper 1: Advanced Financial Reporting
Paper 2: Advanced Business and Financial Management
Paper 3: Advanced Assurance

Group 2

Paper 4: Advanced Law
Paper 5: Advanced Management Accounting
Paper 6: Advanced Taxation

Exams and Passing Criteria

Pre-Test  (For Being Eligible To Write Advisory Level Exams) (Fully Online)
For appearing in the Advisory level examination, students should complete the Pre-test exams. Students should pass in at least one paper in each subject with a minimum of 40% marks in Pre-test Scheme.

Eligibility for Advisory Exams
A candidate appearing in the Advisory level Examination must have

  1. Completed two years from the date of registration in Advisory level Course,

  2. Obtained the eligibility certificate of Pre-Test Exam, and

  3. Completed the prescribed period of practical training, i.e. 3 years or has yet to serve not more than 12 months of articleship prior to the first day of the month in which Examination is held.

A candidate can appear either the both groups at a time or in one group in one examination and the other group at any subsequent examination.

 

Advisory Level Exams
Advisory Level exams are also held generally in the first week of June and December. One day gap is given during the exams . Routine and centre list are published in the ICAN’s official website at least 30 days before the exams.

Passing Criteria
A candidate will be declared to have passed Advisory Level Examination only if he passes in BOTH the groups. However student can pass both the groups at once or one by one. For eg, student can pass Group 2 in one exams and sit and pass Group 1 in another exams. However the student would be declared having passed Advisory level only after passing both the groups.

A candidate will be declared to have passed in both groups simultaneously if  at one sitting

i)  a minimum of 40% in each paper of each of the group and an aggregate of 50% of all the papers of each of the groups is secured OR

ii)  a minimum of 40% in each paper of both the groups and 50% in the aggregate of all the papers of both groups taken together is secured .

A candidate shall be declared to have passed in one group if

i) At one attempt a minimum of 40 % in each paper of the group AND 
ii) 50% in the aggregate of all the papers of that group.

 

Exemption

A student who has scored 55% or more in any paper(s) but has failed in that group, shall be entitled for exemption in that particular paper(s), provided,  a minimum of 30% in any one of the subjects of that group has been scored, and should have attempted all the papers in that group.
The exemption shall remain valid for the next three consecutive examinations but those students who are entitled for exemption are not considered for rank.

Distinction

A student securing 75% or above, in the aggregate of both groups, at one sitting, shall be considered to have secured distinction.

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