The Institute of Chartered Accountants of India (ICAI) has notified the new education and training scheme on June 23rd 2023 through the gazette notification. The changes concern the requirements for passing the final examination, the registration requirements and fees for the intermediate course, and the admission requirements, fees, and syllabus for the intermediate examination.
The new scheme was launched by the President of India on1st July 2023, on CA Day.
Also the prospectus is available on the official website of the ICAI. According to the new education and training, the self-paced online modules will commence from 1st July 2023. The registration for Foundation under the new scheme will start on 2nd August 2023.
The New Scheme of Education and Training consists of three levels: Foundation, Intermediate, and Final, which also includes Self-Paced Online Modules. To enroll in the Foundation, Intermediate, or Final level of the New Scheme of Education and Training, students are required to register through the Self Service Portal (SSP) at the following link: https://eservices.icai.org/.
FOUNDATION COURSE
After completing the Class 10th Examination conducted by a legally recognized examining body in India or an examination that is deemed equivalent by the Central Government or State Government, candidates are eligible to register for the Foundation Course.
The initial opportunity to appear for the Foundation Examination under the New Scheme of Education and Training will be available after appearing in the Class 12th examination conducted by a legally recognized examining body in India or an examination recognized as equivalent by the Central Government or State Government.
The 4 papers in Foundation Course which are as under:
• Business Mathematics
• Logical Reasoning
• Statistics
INTERMEDIATE COURSE
A candidate can register in Intermediate Course through either of the following two routes: (i) Foundation Route (ii) Direct Entry Route. : You can register provisionally for the CA Intermediate Course through Direct Entry Route. After completing the Graduation with requisite marks and completion of eight months of study period in Intermediate Course from the date of provisional registration, you would become eligible to appear in Intermediate Examination.
There are 6 papers in Intermediate Course which are as under:
Group I
Section A – Income-tax Law (50 marks)
Section B – Goods and Services Tax (GST) (50 marks)
Group II
Section A – Financial Management (50 marks)
Section B – Strategic Management (50 marks)
FINAL COURSE
There are 6 papers in Final Course which are as under:
Group I
Group II
The assessment for Paper-6 Integrated Business Solutions (Multidisciplinary Case Study with Strategic Management) which is entirely case study based, would be an open book examination. The Assessment for all the other five papers would be through a closed book examination.
PRACTICAL TRAINING
Upon clearing both groups of the Intermediate Examination and completing the Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS), you are eligible to begin Practical Training. The duration of Practical Training is 2 years and the Industrial Training is for a period of 9 months to 12 months, permitted during the last part of 2 years Practical Training. Also, the articled assistant would be permitted to take 12 leaves in each year of Practical Training.
The ICAI has released the complete details from Notification to the FAQs of the new scheme of education and training for better clarification of the new transition.
Access the Details here:
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