ICAI latest announcement on new CA Course
ICAI latest announcement on new CA course | ALL LEVELS | CA Point
On 3rd of June 2022 Gazette notification came on about the proposed scheme of education and training in CA .
On 4th of June 2022 ICAI finally made an announcement on the proposed scheme of education and training.
I am talking about the new CA course and there are lots of major changes proposed by the committee of Review of education and training and I know lot of CA students and CA ASPIRANTS have doubts and confusion.
This is the proposed scheme of education and training which means it is not final yet as still institute is taking suggestions, recommendation from the people who are affected by this new CA COURSE.
NOTE:- MAY 23 and NOV 23 students will give their exams in existing syllabus.
If you want you people can give suggestions and recommendations.
Now WHY THIS NEW CA COURSE? What was the need to make so many changes?
First of all the main reason was to make this CA curriculum globally relevant.
Second to emphasize more on ethics and information technology.
Third is to diversify the roles of CA
Changes in CA COURSE
1. Subject Paper
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FOUNDATION |
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Paper |
CURRENT (No of papers-04) |
PROPOSED (No of papers-04) |
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I |
Principles and practice of accounting (100marks) |
Accounting(100marks) |
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II |
Business laws (60marks)&Business Correspondence and Reporting(40marks) |
Business laws(100marks) |
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III |
Business Mathematics and Logical reasoning and statistics(100 marks) |
Quantitative aptitude (100marks) Business Mathematics and Logical reasoning and statistics |
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IV |
Business economics (60marks)&Business and commercial knowledge (40marks) |
Business economics(100marks) |
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PASSING CRITERIA |
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Current |
Proposed |
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40% in each paper and 50% in aggregate (with negative marking ā 25% for each wrong answer to MCQs in Papers 3 and 4) |
50% in each paper (with negative marking ā 25% for each wrong answer to MCQs in papers 3 and 4) |
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INTERMEDIATE |
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CURRENT (No. of papers - 08) |
PROPOSED (No. of paper - 06) |
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PAPER-1: Accounting |
PAPER- 1 : Advanced Accounting |
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PAPER-2 : Corporate and other laws |
PAPER-2 : Corporate laws (100 marks) |
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PAPER-3 : Cost and management accounting |
PAPER-3 : Cost and management accounting |
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PAPER- 4 : Taxation |
PAPER- 4 : Taxation |
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PAPER- 5 : Advanced Accounting |
PAPER-5 : Auditing and code of ethics |
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PAPER-6 : Auditing and Assurance |
PAPER-6A : Financial Management (50marks) |
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PAPER-7 : Enterprise Information system& Strategic Management |
PAPER-6B : Strategic management(50marks) |
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PAPER-8 : Financial management & Economics for finance |
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PASS PERCENTAGE |
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CURRENT |
PROPOSED |
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Ā· 40% marks in individual paper and 50% marks in aggregate to pass the group Ā· If student secured 60% or more, in paper/s in one attempt, exemption of such paper(s) for immediate 3 attempts is allowed and thereafter exemption will lapse. |
Ā· No change Ā· If student secures 60% or more in paper/s in one attempt, exemption of paper(s) for immediate 3 attempts is allowed, Thereafter, exempted paper/s will be treated as permanently passed and student has to score 50% to pass in the remaining paper/s individually The student may, however, opt to surre3nder the exemption after three attempts. |
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MANNER OF ASSESMENT |
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CURRENT |
PROPOSED |
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Partially objective and partially subjective in SELECT PAPERS (30% MCQ / case scenario based on 70% descriptive questions)
Closed book in all papers |
Partially subjective and Partially subjective (30% case scenario/ study Based MCQ and 70% descriptive question in all papers
Closed books in all papers |
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CA FINAL |
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MANNER OF ASSESSMENT |
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CURRENT |
PROPOSED |
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Partially objective and partially subjective IN SELECT PAPERS
Closed book in all core papers and open book in elective papers.
No negative marking in objective type questions. |
ā¢ Partially objective and partially subjective (30% case scenario/study based MCQs and 70% descriptive questions> IN ALL PAPERS.
ā¢ Open book/Restricted open book pattern of assessment
ā¢ Computer-based/physical examination, as decided by the Council from time to time.
No negative marking in objective type questions.
25% negative marking for each wrong answer to MCQS. |
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CA FINAL |
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CURRENT(NUMBER OF PAPERS: 8) |
PROPOSED(NUMBER OF PAPERS: 6) |
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Paper-1: Financial Reporting |
Paper-1: Financial Reporting |
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Paper-2: Strategic Financial Management |
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Paper-3: Advanced Auditing and Professional Ethics |
Paper-3: Advanced Auditing and Professional Ethics |
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Paper-4: Corporate and Economic Laws |
Paper-4: Direct Tax Laws and International Taxation |
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Paper 5-Strategic Cost Management and Performance Evaluation |
Paper-5: Indirect Tax Laws |
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Paper-7: Direct Tax Laws and International Taxation |
PAPER-6: INTEGRATED BUSINESS SOLUTIONS (MULTI-DISCIPLINARY CASE STUDY WITH STRATEGIC MANAGEMENT) |
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Paper-8: Indirect Tax Laws |
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PAPER-6: ELECTIVES (1 OUT OF 6)
Paper-6A: Risk Management
Paper-6B: Financial Services and Capital Markets
Paper-6C: International Taxation
Paper-6D: Economic Laws
Paper-6E: Global Financial Reporting Standards
Paper-6F: Multidisciplinary Case Study |
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PASS PERCENTAGE |
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CURRENT |
PROPOSED |
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Ā· 40% marks in individual paper and 50% marks in aggregate to pass the Group.
Ā· If student secures 60% or more, in paper/s in one attempt, exemption of such paper(s) for immediate 3 attempts is allowed and thereafter exemption will lapse. |
No Change
ā¢ If student secures more than 60% marks in paper/s, exemption of paper for immediate 3 attempts is allowed.
ā¢ Thereafter, treat the exempted paper/s as permanently passed and student has to, however, score 50% to pass in the remaining paper/s. However, student may have the option to surrender the exemption after three attempts. |
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PRACTICAL TRAINING |
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CURRENT DURATION |
PROPOSED DURATION |
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Three years |
Two years |
This is a revolutionary change, We should all welcome it and we are into it together.
