The Institute of Chartered Accountants of India (ICAI) has reportedly planned to introduce the concept of open-book examination for the upcoming Chartered Accountancy (CA) exams.
The ICAI president Nihar Jambusariya said that more papers in the CA final exam will be added to the open book system.
“Currently only an elective paper is covered under the open-book system, but our committee is reviewing to bring in more papers so that students can have application-based knowledge,” said the ICAI President.
The ICAI President also said that the committee is still in the process of reviewing the possibility of conducting the open book exams and if it gets finalized by February 2022 then it will be implemented within the following six months to one year time period.
Further, he said, “Earlier only 35-40% CAs used to get placed but that ratio has now increased to 70%. The economy was struggling due to the pandemic but the need for CAs was realized in these times as CAs not only audit but can also bring in the revival of struggling businesses and also do financial restructuring.”
He also added, “Many big firms have developed auditing tools, but if all can use these tools there will be an improvement in auditing so we plan to provide these tools for two to three years, and then members can buy them.”
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