How to become a Chartered Accountant (CA) in Bangladesh

Do you want to be an expert in International Financial Reporting Standard (IFRS), Tax or Accounting?

Or a corporate leader likes Chief Financial Officer (CFO), Finance Director? Or want to work in a four big accountancy firms as an assurance leader?

Then CA is the perfect match for you.

I have prepared a video based on this article, you may also watch the video to know everything about CA admission in Bangladesh.

I am confident; you have heard that CA professionals are well paid. They get car and draw monthly six digits salary. They start at the managerial post from the beginning of their job.

It’s true.

Why they are highly paid by the employer? Because of they are the expert in their related sector.

Whether a project will be profitable? If yes, when and how it will be profitable?

These all questions are predictable by the CA. And that’s why they are demandable to each employer.

I am also confident; you have heard that CA exam pass is very difficult. Yes it is also true but not impossible. If you follow few strategies you will succeed.

Why it is hard to pass CA exam? CA is a professional degree. I hope you will agree with me that not only CA, every professional exam is very hard to pass.

Think about FCPS, FRCS or like any other professional degrees. All of those are very difficult to achieve.

But you have to confident that these degrees are achieving by the people surrounding you. So you will also win this prestigious degree.

What are the entry criteria?

Students having the following qualifications are eligible for Article-ship (as per ICAB website):

Under Graduates:

(i)         SSC & HSC or Equivalent Examinations:

GPA 4 in SSC with GPA 5 in HSC

Or

GPA 5 in SSC with GPA 4 in HSC

(ii)        ‘O’ & ‘A’ Levels:

-Minimum 38 points in ‘O’ Level in minimum 5 subjects & maximum 07 subjects

and

-Minimum 12 points in ‘A’ Level in maximum 03 subjects

-Points to be considered as Grade ‘A’ = 10 points, ‘B’= 6 points, ‘C’=4 points

-No point will be considered for Grade less than ‘C’

(iii)       ‘O’ Level & HSC:

-Minimum 38 points in ‘O’ Level in minimum 5 subjects & maximum 07 subjects

&

Minimum GPA – 4 in HSC

Graduates and Post Graduates:

Graduates or Post- graduates in any discipline having minimum 07 (seven) points with no third division/ third class from any recognized Board/Public University/ National University/ Private University/ Institute (as approved by University Grants Commission of Bangladesh).

For points calculation you may visit ICAB website. There you will find details information about how to calculate points for your each academic result which you have achieved in your educational life.

Where to go for CA admission?

First of all you have to determine that you will become a CA. Promise that if you admit in CA you will pass CA.

Then discuss with CA students who are now doing CA course with CA firm in Bangladesh. Gather knowledge from them. If you have friends, senior of college or university or relatives in CA profession then you can discuss with them.

Asked what you want to know from them. Which CA firm will be better? Which CA firm is following the ICAB students’ policy?

Your past academic results will give you the most advantage to get a chance in prestigious CA firm in Bangladesh to admit CA article-ship.

Renowned firm will help you to gather practical knowledge. They have world top multinational clients. These firms provide many services to the clients. So you will be engaged with those services.

And another very important issue is that all brilliant students are mostly with these firms. So if you get chance in those firms then you will access to internal notes and resources developed by them which will help you to pass CA exam quickly.

Rhaman Rahman & Huq (RRH), A. Qasem & Co. (AQC), Huda Vasi Chowdhury & Co. (HVC), SF Ahmed & Co, ACCNABIN are the most desired CA firm in Bangladesh.

First two firms are the member firms of KPMG and EY respectively which are renowned as family member of big four accountancy firms.

Don’t be upset if you could not get chance in the above CA firms. There are also many other firms in Bangladesh which also doing well and trying to achieve membership status with other international accountancy firm.

They also follow the ICAB policy and paid lucrative allowance to the students. And each year, students from those CA firm is passing their exam.

So now, prepare your CV. And then submit it to the CA firm’s HR desk as your desired CA firms.

Normally CA firms collect CV throughout the year. When they require articled students, they call them for an interview after short listing the CVs based on academic results.

Interview may be written or directly viva voce.

They will select you if you could satisfy them in the interview. So start your CA!

What are the course curriculums?

You will be happy to know that the ICAB has signed a MoU with the Institute of Chartered Accountants of England and Wales (ICAEW) few years ago. After that ICAB adopted ICAEW course curriculums.

So you will read the same books here as ICAEW students reading in there.

The Council ICAB has decided to introduce new curriculum which will be effect from November-December 2018 on 19 June 2017.

As per new circular published on 18 January 2018, the CA examination is comprised of three levels which are Certificate Level (CL), Professional Level (PL) and Advanced level (AL).

Seven subjects are allocated in the CL and PL. So in these stages you have to pass total 14 subjects. And in the final stage means AL, you have to pass three subjects to become a CA.

After passing all the seven subjects in the CL, you will be eligible to seat for the next level exam. You will not be entitled to seat for PL exam even if one subject is left to pass by you in CL. The rule is applicable for AL exam also.

Following are the subjects which you have to pass in total three levels.

Certificate Level (CL):

1. Assurance
2. Accounting
3. Management Information
4. Business & Finance
5. Principle of Taxation
6. Business Law
7. Information Technology

Professional Level (PL):

1. Audit and Assurance
2. Financial Accounting & Reporting
3. Financial Management
4. Business Strategy
5. Tax Planning & Compliance
6. Corporate Laws & Practices
7. IT Governance

Advanced Level (AL):

1. Corporate Reporting
2. Strategic Business Management
3. Case Study

The above 17 subjects are the manuals for your exam preparation. But there is no guarantee that exam questions will be from these manuals.

You have to read other supplementary books and have to be updated in the particular course matters regularly as well as industry information to do well in exam.

You have to keep in touch with your seniors who have passed the subjects which you are going to appear in your next exam.

In that case your internal network within the firm will be the first advantage for you to get supplementary books, notes and resources.

External network will be build up when you will go ICAB library and during your coaching class from which you will also find more study resources from them.

Will you get any exemption?

Yes you have a chance to get exemptions. ICAB allowed maximum five (05) exemptions in knowledge level but only for the students of Dhaka University. And two subjects for the students of Jagannath University.

Now the questions are for the students who are from other public or private universities. Yet there is no such agreement with other universities with ICAB.

So other university students have to seat for all 17 papers.

Now the question is for other professionals like who have another degree from ICMAB or ACCA. They will get exemption for four subjects in CL and one subject in PL.

How much costly?

When you will start your journey as an articled student with your CA firm they will asked you to submit your academic documents after provision period if any.

A pay order in favor of ICAB amounting BDT 30,000 have to be submitted with you required documents to get enroll from ICAB.

After completing CA coaching provided by the ICAB in their academic Campus in Karwan Bazar you will be eligible for seat in your first CA exam.

Exam fee for CL is BDT 1,300 per subject, if you choose to seat for all seven subjects at a time then your total exam fee will be reduced to BDT 7,800 instead of BDT 9,100.

If you pass CL then have to enroll for PL by depositing BDT 15,000 to the ICAB nominated bank account for coaching class purpose.

Exam fee for this level is BDT 3,000 per subject. Here you will also get discount if you seat for all seven subjects and then have to pay BDT 18,000 instead of BDT 21,000.

And finally when you will pass CL and PL, you have to again enroll for AL by depositing BDT 43,000 in the same way for the same reason as mentioned before.

And in this stage exam fee is BDT 5,000 per subjects except Case Study for which fee is BDT 10,000. You will also get discount if you choose for all four subjects and then have to pay BDT 22,000 instead of BDT 25,000 during depositing your CA exam form.

You may choose all seven subjects or any number of subjects as you like. Paper by paper pass is allowed.

The ICAB arranged two times CA exam in June and December of each calendar year.

How much allowance you will get?

As per ICAB policy, you will be entitled to get BDT 3,000 monthly allowance from your firm. BDT 500 will be increased after completion of each article-ship year.

The well reputed firms offer more allowance than prescribed allowance by the ICAB.

Students who are from Dhaka University or other reputed universities with outstanding academic results received BDT 7,000 to BDT 15,000 from their first year of article-ship.

Few CA firms provide conveyance to the students when they are deputed in the client.

The above mentioned allowance also increases after passing each level.

What is the office time?

Your office time will be as you are a full time employee. Only the difference is that an employee gets more money and other facilities. But you will get less money but full time office.

The benefit is that you will learn practical work with theoretical knowledge.

As a professional, the firm tries to keep their commitment to the client. In that circumstance, you may require to stay after your normal office time if there is any reporting deadline.

Sometimes, you may also require to travel any place of Bangladesh. In that case, conveyance will be provided to you as per your firm policy.

The benefit is that most of the places in Bangladesh will be visited by the cost of the firm!

Will you get leave for exam or coaching class?

As per ICAB policy, you will be entitled to enjoy total 180 days leave from your CA firm during the three years article-ship period.

Coaching classes continue from 6PM to 9/10PM normally for two months.

No leave is allowed during this period for your coaching classes but allowed to leave client or office before 5 PM so that you could attend class in time. Generally students are allowed to leave office around 4:30PM with the concern of your senior.

You will enjoy exam leave for 30 to 45 days. For each first time attempt in each level you will be entitled for this leave period.

But it varies firm to firm. This exam leave is only for first time attempt students.

If you seat second time or more for the same level then you will get 15 to 20 days leave. It also varies firm to firm.

What is the length of CA article-ship?

CA article-ship duration is normally three years for the graduates and undergraduates students.

The students who have started article-ship after HSC/A- Level or equivalent, their article-ship duration will be for four years.

And two years for ACCA or CMA professionals.

Will you get any certificate?

After completion of your article-ship you will get CA Course Complete certificate which is popularly known as CA CC.

And when you will pass total 18 subjects in three levels then you will get CA certificate from ICAB.

Then you will be eligible to be a member of the ICAB as Associate Chartered Accountant (ACA) by depositing subscriptions set by the ICAB.

After five years if you could manage 60 Continuing Professional Development (CPD) credits then you will be Fellow Chartered Account (FCA). But this time you will not have to seat for exam. Only attend CPD seminars arranged by the ICAB time to time.

What is the pass rate?

There is no set pass rate by the ICAB.

There are few rumors about the pass rate. Few say, ICAB does not increase the pass rate. Or the pass rate is depends on the market demand.

But if we analyze the past history the pass rate in the final level is vary between 3% to 5%. I hope now you could understand how difficult it is to pass.

But don’t be afraid as I said earlier it is not impossible. Regular study will help you to reach your ultimate destination.

Good luck!!!