CA Exams: Facing stiff competition from global accountancy institutes in India, ICAI is updating its education and training structure and bringing a new Global Level Education and Training Structure in 2023 to replace its traditional structure that is unsuitable in the today’s world. Currently CA EXAMS is considered as one of the toughest exam in all over the world.
CA Final exam is very tough to clear which seems to be impossible for few students. It will have modern Computer Based Examinations (CBEs) and Paperwise Passing system in place, the exam pattern will become completely case study and open book and subjects in IFRS, Technology and Finance will be added and subjects in Economics, Mathematics, Advanced Company Law and Strategic Cost Management and Performance Evaluation will be deleted.
The Group-wise passing system will be abolished to match the international accounting educational standards.
Committee of Review of Education and Training (CRET) will submit its Final Report to the Council of ICAI till February 2022. Then the council will open it for public comments.
ICAI has entered into an agreement with Indira Gandhi National Open University (IGNOU), to help CA students acquire a Bachelor’s degree and master’s degree by writing six papers / five papers respectively. For example, a bachelor’s degree in Commerce can be obtained from IGNOU with a major in accounting and finance provided the student is able to provide the grades received in Foundation and Intermediate and pass the term end examination conducted by IGNOU. Similarly based on the grades in Final would be taken for Masters. This initiative has helped a lot of students attain both the degrees without any duplication of subjects and credits.
ICAI offers study materials and describes the syllabus in great detail via a prospectus. While ICAI claims that this study material on the website is sufficient for motivated students to study, most students opt to attend oral coaching classes or learn from e-learning portals.
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