Becoming a chartered accountant with the Institute of Chartered Accountants of Bangladesh (ICAB) is a highly prestigious and rewarding career path. ICAB is the national professional accounting body in Bangladesh, established under the Chartered Accountants Ordinance 1961. In this blog post, we will explore the steps required to become a chartered accountant with ICAB and the various modules involved in the process.
Become A Chartered Accountant – Steps to Follow
Step 1: Fulfilling the Eligibility Criteria
To be eligible for the ICAB chartered accountant program, you must have a bachelor’s degree or equivalent from a recognized institution. You may join the program after HSC/equivalent level as well. You will find the detail eligibility criteria here.
Step 2: Join a CA Firm as an Articled Student
After fulfilling the eligibility criteria, it is necessary to join a Chartered Accountant (CA) firm. The CA program is designed to provide both practical experience and academic knowledge. It is important to note that an individual cannot register with ICAB alone, as registration must be obtained under a qualified chartered accountant who is practicing within a firm. Numerous firms in Bangladesh are available to choose from, and it is necessary to select one.
Here is the list of CA firms that you can refer to.
Step 3: Registration with ICAB
After joining a CA firm, the firm will initiate the registration process after a probationary period. The length of the probationary period may vary from firm to firm, but it typically lasts between 2 to 6 months. Additionally, there will be a registration fee that you will need to pay.
The process of registering for Articleship is straightforward and affordable in Bangladesh. The registration fee for Articleship is BDT 28,400 with the following breakdown, effective as of 01 July 2021.
| 1 | Pr-Examination Coaching Class (For 01 session of Certificate Level only) | BDT 13,500 |
| 2 | Cost of Study Manual (Certificate Level) | BDT 3,000 |
| 3 | Students’ Association Fee | BDT 5,00 |
| 4 | Registration Fee & Administrative Cost | BDT 8,900 |
| 5 | Library Card | BDT 2,500 |
| Total | BDT 28,400 |
Step 4: Completion of the Modules
The ICAB chartered accountant program consists of several modules that cover various topics related to accounting, finance, taxation, auditing, and business management. The modules are designed to provide you with a comprehensive understanding of the concepts and principles of accounting and prepare you for the challenging exams ahead.
The modules involved in the ICAB chartered accountant program are:
The ICAB examinations consist of a three-level examination system, which includes:
- Certificate Level (CL)
- Professional Level (PL)
- Advanced Level (AL)
See the detail curriculum policy here.
Step 5: Apply for ICAB Membership
Upon passing all required professional examinations and completing the necessary training under the articlship program, an individual becomes eligible for Associate Membership of the Institute through the normal education and training route.
After receiving the membership application, it will be reviewed by the concerned Committee for consideration. Once the application is approved, the applicant will be a member of the ICAB.
Cost of the Program
The CA program is cost-effective and affordable for students in Bangladesh. Below is a breakdown of the costs associated with the program:
| 1 | Registration fee | BDT 28,400 |
| 2 | Exam fee (1,500*5)+(1200*2) | BDT 9,900 |
| 3 | Examination Coaching Class (Professional Level) | BDT 15,000 |
| 4 | Exam fee (3,300*7) | BDT 23,100 |
| 5 | Examination Coaching Class (Advance Level) 18,000+25,000 | BDT, 43,000 |
| 6 | Exam fee (5,500*2) + 12,000 | BDT 23,000 |
| Total | BDT 1,42,400 |
Conclusion
Becoming a chartered accountant with ICAB is a challenging and rewarding career path. It requires dedication, hard work, and a commitment to continuous learning. By following the above steps and successfully completing the modules and practical experience requirements, you will be well on your way to becoming a successful chartered accountant in Bangladesh.
