Exemptions/Waivers from Association’s Examinations
Exemption/Waiver Criteria & Rules
The underlying principle in respect of granting exemptions to persons holding academic and professional educational qualifications is the predetermined equivalence of the Association’s standards with other academic and professional educational institutes/bodies in respect of examinations, courses of studies and other conditions as to professional standards etc. Based on this principle the Executive Council/Exemption Committee of the Association has listed the exemptions/waivers available to intending candidates who wish to join the Association’s examinations but nevertheless cases of exemption/waiver claimed falling outside the prescribed list are considered by the Executive Council/Exemption Committee of the Association on the basis of their respective merit. On this question the decision of the Executive Council/Exemption Committee is absolute and final.
Adhering strictly to the foregoing principle, the Executive Council/Exemption Committee of the Association has framed comprehensive rules for deciding claims for exemption/waiver from the Association’s examinations. Accordingly eligibility for exemption/waiver will be assessed/evaluated on the basis of approved academic and professional examinations having relevant and considerable knowledge content of Accounting, Auditing, Finance, Banking, Management, Law, Taxation Laws, Corporate Laws and allied subjects. Applications for exemption and student registration must be made simultaneously in the prescribed form obtainable from the office of the Institute and must accompany the prescribed exemption and registration fees.
Students are advised that applications for exemptions must be supported by attested documentary evidence of all subjects taken in the academic and professional qualifications. The Executive Council/Exemption Committee of the Association reserves the right to review and re-evaluate the equivalence criteria for exemption in respect of all or any academic and professional examinations which presently or in future have been accorded approval for equivalence with the Association’s examinations. Exemptions are granted from the Association’s examinations in subjects of other academic and professional examinations on the basis of equivalence established by The Association of Financial Forensic Experts (The AFFE).
Exemptions Allowed in Special Cases
Members of others professional Institutes/Bodies whose examinations, educational and professional standards are considered equivalent to those of the Institute may be admitted as members. The status of membership of this Institute conferrable will, however, depend upon the status of membership already held by such applicant in the others Institutes/Bodies. While the Association strictly adheres to the principles of detailed scrutiny of applications for membership and exemptions to assess the equivalence criteria, the Executive Council/Exemption Committee is also empowered to consider and grant exemptions to applicants whose educational qualifications are not covered by the conditions laid down in the exemption schedule.
Another important consideration which the Executive Council/Exemption Committee follows in granting exemptions in special cases which fall outside the existing frame-work of exemption rules, is the overall and complete set of relevant academic and practical achievements of the applicant acceptable to the Executive Council/Exemption Committee, of course, having regard to the cardinal principle of determining the professional equivalence in each case separately. The decision of the Executive Council/Exemption Committee in this behalf is absolute and final. The applicants falling in this category are, however, entitled to an opportunity to appeal and submit necessary clarifications and documentary evidence in support of their claim for exemption to the satisfaction of the Executive Council/Exemption Committee who may in its sole discretion reconsider such appeals.
Exemption Fees
Exemption fee shall be paid along with the applications for exemptions as per exemption fee schedule given below. The Institute will refund the amounts in respect of claims for exemption disallowed or adjust the amount against other dues. Payments shall be in cash direct transfer/bank pay order/bank demand draft, and crossed check in favour of The Association of Financial Forensic Experts (The AFFE).
Powers of the Executive Council/ Exemption Committee to Grant Exemptions
The powers vested in the Executive Council/Exemption Committee inter-alia also includes the scrutiny of all applications for exemptions in accordance with the prescribed criteria and rules and eventually grant or refuse exemptions. A right to appeal to the Executive Council/Exemption Committee is, however, given to every applicant for exemption to plead and justify his/her claim. The Executive Council’s/Exemption Committee’s decision in that case is absolute and final.
Tutorial Services
Tutorial services constitute part of the overall educational policy of the Association which has been generally described. However, for specific guidance of the students on the assistance available on the offered educational program of the Association, this exclusively deals with this subject under the following main headings:-
Oral Tuition
As already mentioned, the Association while following the global tradition of professional bodies, does not undertake or provide the facilities for oral tuition on its own, but it certainly makes obligatory the attendance of the tutorial program by its students and for this purpose recommends the approved tutorial institutions having suitable infrastructure to meet the prescribed standards of education aimed by this Association. All the students are, however, advised to seek guidance of the Educational Advisor or the Secretary of the Association on all matters relating to oral tuition which they intend to obtain.
Correspondence Tuition
For those students of the Association who reside in areas where approved oral tuition facilities are not available, correspondence tuition for them could be arranged. Approved correspondence courses could be supplied at the prescribed price on the request of the registered student. These courses represent effective medium of tuition for those who are employed overseas.
Powers of the Executive Council/Education Committee to review the Courses of Study and Advise on Tutorial Services
Among other functions one of the most vital role of the Executive Council/Education Committee is to review from time to time the prescribed courses of study presently in force in order to upgrade and rationalise the standard of professional education to the extent necessitated by any changes in the Forensic Accounting and its allied disciplines Laws and the socio-economic structure as far as they have a bearing on the Forensic Accounting Practice. It must be, therefore, clearly understood that the prescribed courses of study are always subject to change. On such an event the Executive Council/Education Committee will certainly have regard to the traditional practice of communicating its decision to the students much in advance to enable them to prepare and adapt themselves effectively to any change. The Executive Council/Education Committee is also vested with the power to approve and recommend to the students tutorial institutions and correspondence courses which in its opinion should be useful and helpful to the students in preparing themselves for the examinations.