ICAI to make changes in decade long CA course and syllabus: Check out the other possible changes

The Institute of Chartered Accountants of India (ICAI) is planning to modify and enhance the curriculum and examination pattern of CA course after almost a decade. ICAI President has stated that brushing up the existing course curriculum to help create better Auditors and Accountants for India.

The Institute of Chartered Accountants of India (ICAI) is planning to modify and enhance the curriculum and examination pattern of CA course after almost a decade, so as to keep in pace with the changing times. In order to do the same, it has approached the Ministry of Corporate Affairs to include new subjects into the CA course.

ICAI President has stated that brushing up the existing course curriculum will help create better Auditors and Accountants for India, citing globalisation and its effect on the chartered accountancy profession.

Proposed changes

  • The entry level exam to be more tough
  • Subjective questions along with the regular objective type questions will have to be answered by the candidates
  • A new subject, Economics for Finance to be introduced at the intermediate level
  • At the final level, electives would be introduced as the eighth paper (which will include- Risk Management, International Taxation, Financial Services and Capital Markets, Global Financial Reporting Standards, Economic Laws and Multi-Disciplinary Case) where students will appear for an open-book exam to handle questions based on case studies
  • Earlier, students had to register for three years of practical training on passing group 1 or both groups of the intermediate examination. Now, it has been proposed that the students may register for three years of practical training on passing either or both groups of the intermediate examination
  • Students going through the foundation course will take roughly four-and-a-half years to become CAs, while those qualifying for taking direct admission will take approximately three-and-a-half-years
  • Information System Control and Audit renamed as Information System Risk Management and Audit
  • Class 12 exam appeared students will also be able to register

About ICAI:

ICAI is the national professional accounting body of India, established on July 1, 1949. Its headquarter is at ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110002, India.

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