After almost ten years, the Institute of Chartered Accountants of India (ICAI) is planning to tweak the curriculum and examination pattern of CA course. The ICAI President hopes that revamping the existing course curriculum will enhance the quality of Auditors and Accountants in India, considering globalisation and its effect on the profession of chartered accountancy. For achieving this end, the ICAI has also requested the Ministry of Corporate Affairs to incorporate new subjects into the CA course.
The changes proposed are as follows:
- Students who have appeared for their class 12 exam will also be allowed to register.
- The entry level exam would be made tougher to crack.
- Objective type questions will also be accompanied by subjective questions.
- At the intermediate level, a new subject, Economics for Finance would be introduced .
- Electives would be introduced as the eighth paper at the final level, which will include- Financial Services, Risk Management, Capital Markets ,International Taxation, Economic Laws, Global Financial Reporting Standards, and Multi-Disciplinary Case where students will go through an open-book exam to solve questions based on case studies.
- While previously students had to register for three years of practical training on passing group 1 or both groups of the intermediate examination, the new proposal states that the students may register for three years of practical training on passing either or both groups of the intermediate examination.
- Students who qualify for taking direct admission will take approximately three-and-a-half-years while those going through the foundation course will take roughly four-and-a-half years to become CAs.
- Information System Control and Audit will be renamed as Information System Risk Management and Audit
About ICAI:
Established on July 1, 1949, ICAI is the national professional accounting body of India. Its headquarter is at ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110002, India.