Module: | Specialized Audits, Tech & ESG Disclosures
Q93: Consider the following statements regarding the revised Continuing Professional Education (CPE) hour requirements introduced by the ICAI for the calendar year 2026:
1. A practicing member below the age of 60 years holding a Certificate of Practice (COP) must complete 40 CPE hours annually, split equally between structured and unstructured learning.
2. Practicing members who are aged between 60 and 70 years are completely exempted from fulfilling any structured or unstructured CPE hours.
3. The ICAI established a uniform cut-off date, ensuring that a member attaining a milestone age (e.g., 60 years) at any time during the calendar year immediately qualifies for the reduced CPE requirements of that older age bracket.
Which of the above statements is/are incorrect?
2. Practicing members who are aged between 60 and 70 years are completely exempted from fulfilling any structured or unstructured CPE hours.
3. The ICAI established a uniform cut-off date, ensuring that a member attaining a milestone age (e.g., 60 years) at any time during the calendar year immediately qualifies for the reduced CPE requirements of that older age bracket.
Which of the above statements is/are incorrect?
✅ Correct Answer: B
🎯 Quick Answer:
B. Only 2 is incorrect.Structural Breakdown: Statement 1 is correct; 40 hours is the baseline requirement for young practitioners.
Statement 2 is incorrect; practicing members aged between 60 and 70 are NOT fully exempted; they must complete 30 CPE hours.
Only non-practicing members above 60 enjoy a full exemption.
Statement 3 is correct; the Council clarified that if a member turns 60 on December 31, they are treated as being 60 for the entire calendar year for CPE calculation purposes.
Historical/Related Context: As the accounting profession rapidly digitized with AI, IndAS, and blockchain, the ICAI reformed the CPE structure to ensure that all active practitioners, regardless of their seniority, maintain a baseline of modern technological and regulatory competence.
Causal Reasoning: A Chartered Accountant who is 65 years old and actively signing audit reports for public companies wields the exact same systemic power as a 35-year-old CA.
Therefore, as long as they hold a COP and practice, they cannot be fully exempted from continuous learning.