Question

Explain the procedure of ISA exam.

Answer 1

Technology plays a major role in facilitating all functions of business in this era, not just in transaction capturing and processing but even in lesser known areas like Corporate Governance and Risk Management. There is no doubt that Chartered Accountants with ISA qualification will play a major role in Information Systems Audit (ISA) in the coming years. The technology revolution in the 20th century, particularly last 10 years, is a re-enactment of the Industrial Revolution that happened 150 years ago- with lessons that are valid even today. The Industrial Revolution was propelled by innovations but now the rules are being rewritten, powered by silicon chips and Internet bandwidth. With changing paradigms, knowledge and experience in technology are not merely desirable, but basic requirements for growth and even survival in the evolving global village. With the new challenges threatening the traditional domain, the council of the Institute - by commissioning ISA course - is not just coping with the demands of IT dynamics. It also seeks to leverage technology to enhance the professional skills of its members. This course prepares members to offer value added services of Information Systems Audit, which are in increasing demand.

Course Scheme

Course Registration:Apply for registration with course fees. If you are already completed ISA PT classes and want to join PT classes again,you have to pay fee separately.ISA Professional Training (PT):Complete 80 hours of ISA PT classes generally scheduled for five weekends (Saturday and Sunday) covering 10 days training. Minimum attendance required to successfully complete ISA PT is 90% (9 Days out of 10).Pre-condition for appearing in the ISA Eligibility Test: Before appearing in the ISA Eligibility Test the member has to secure at least 60% marks in the Class Module Test and the Project Report.ISA Eligibility Test (ISA ET): Candidates who successfully complete their ISA Professional Training and clears the Module Test and Project Work with 60% marks can appear for ISA Eligibility Test (ET) currently organized on a half yearly basis in May and November with a qualifying requirement of 60% separately.(Applicable on batches started from February,2017 and onwards)ISA Assessment Test (AT): After qualifying ISA ET, one has to appear for ISA AT. Currently it is organized on a half-yearly basis generally 3rdweek of the month of June & December with a qualifying requirement of 60% marks flat.Course Duration: Candidates who successfully complete their ISA Professional Training can appear for ISA Eligibility Test (ET) currently organized on a half yearly basis in May and November with a qualifying requirement of 60%.CPE Hours: Candidates who have successfully started their ISA Professional Training after 1st April, 2016 are eligible for 25 CPE credit for successful completion of classes and 5 CPE for qualifying ISA Assessment Test (AT).

Members of the ICAI interested in taking the ISA Course have to apply for registration to the ISA Course using the Registration Form available with the ISA Prospectus or by filling the online form available at http://cit.icai.org along with the requisite course fee, two copies of recent passport sized photographs and proof of ICAI membership.