Individuals who possess prior academic qualifications, professional qualifications, and practical job experiences, such as B. Com, BBA, M. Com, MBA, CIA, CICA, CFE, CA / CMA / CS, CPA, PFA, IBP Members, or IFAC registered body's member may be eligible for exemptions or waivers from certain subjects in all stages of the Internal Auditing Professional (IAP) Program on a case to case basis. The decision to grant exemptions will depend on a thorough evaluation of the candidate's qualifications and experience. If a candidate is granted an exemption, they will not be required to take the course in question and can proceed directly to the next stage of the program. However, candidates are advised to carefully consider whether they truly possess the necessary knowledge and skills before requesting an exemption, as each subject is essential for developing a comprehensive understanding of the field.
Exemptions / Waivers for Professional Qualifications Holders
The underlying principle in respect of granting exemptions to persons holding academic and professional educational qualifications is the predetermined equivalence of the Institute’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 Institute has listed the exemptions/waivers available to intending candidates who wish to join the Institute’s examinations but nevertheless cases of exemption/waiver claimed falling outside the prescribed list are considered by the Executive Council/Exemption Committee of the Institute 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 Institute has framed comprehensive rules for deciding claims for exemption/waiver from the Institute’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 Institute 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 Institute’s examinations. Exemptions are granted from the Institute’s examinations in subjects of other academic and professional examinations on the basis of equivalence established by The Institute of Auditing (TIA).
Exemptions Allowed / Granted 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 Institute 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 fee shall be paid along with the applications for exemptions as per exemption fee structure/schedule given on the TIA website. 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 Institute of Auditing (TIA).
Powers of the Executive Council/Exemption Committee to Grant Exemptions:
The powers vested in the Executive Council/Exemption Committee interalia 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.