New CA Syllabus To Debut On July 1: ICAI

Taking into account the perspectives of various stakeholders, the Institute of Chartered Accountants of India (ICAI) has formulated a new scheme of education and training in line with international education standards and the National Education Policy 2020 (NEP), said Aniket Sunil Talati, President ICAI on Friday.

Talati said, "The new scheme has been notified in the Gazette of India on 22 June 2023 and will come into effect on 1 July 2023." President Droupadi Murmu will unveil the new scheme on its 75th Foundation Day (July 1).

Notably, the new scheme seeks to align the course offerings with both global standards and the changing demands of the accounting industry. It includes alterations that take the NEP's standards into account. 

The programme is intended to develop aspiring chartered accountants into future-ready experts and equip them to offer business solutions, as conveyed by ICAI in previous media briefings. Notably, this scheme will be implemented according to a detailed schedule supplied by the ICAI.

The first foundation exam under the new scheme will be held in June 2024 and the first intermediate and final exams would be taken in May 2024.

In accordance with the current plan, the last foundation examination will take place in December 2023. Additionally, the last intermediate and final exams under the current system will take place in November 2023.

According to the ICAI statement, the syllabus, transition scheme and frequently asked questions (FAQs) will be hosted on July 1, 2023. A paper-wise exemption plan will be announced in due course, it added.

Bhupendra Paintola

BW Reporters The author is Trainee Correspondent with BW Businessworld