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The Institute of Chartered Accountants of India (ICAI) has introduced a fresh CA scheme for education and training, set to commence on July 1, 2023. The changes were officially announced in the Indian Gazette on June 22, 2023. These modifications encompass adjustments to the CA course curriculum and the duration of practical training.
The inaugural examination under this new scheme is scheduled for May 2024. The alterations will be applicable to all prospective candidates enrolling in the CA examination's three levels: CA Foundation, CA Intermediate, and CA Final, beginning from 2024 onward. Specific details about the revised CA syllabus were disclosed on July 1, 2023.
The updated CA syllabus for 2023 incorporates the consolidation and removal of certain papers across all three levels. Additionally, the new scheme shortens the CA articleship period from 3 years to 2 years.
| ICAI CA Course Level | New Changes |
|---|---|
|
CA Foundation |
4 Subjects from 6 Subjects |
|
CA Intermediate |
6 Papers (3 in each Group) |
|
CA Articleship |
Period Reduced from 3 to 2 years |
|
CA Final |
6 Papers (3 in each Group) |
The CA New Scheme brings about significant alterations in various aspects such as eligibility criteria, registration duration, syllabus structure, subjects, exam paper patterns, passing requirements, exemptions, training leave policies, and the process for discontinuing the CA course.
For more detailed information, you can refer to the official notification regarding the CA New Scheme on the Institute of Chartered Accountants of India (ICAI) website. This notification can be found in the announcement section of the website.
Under the CA New Scheme set to take effect from May 2024, the journey to becoming a Chartered Accountant will now span a total of 42 months for a student.
| ICAI CA Course Level | Current | New Changes |
|---|---|---|
|
CA Foundation Registration/ Appear 10 + 2 |
Start |
Start |
|
CA Foundation Study Period |
4 Months |
4 Months |
|
CA Intermediate Study Period |
8 Months |
8 Months |
|
CA Articleship |
36 Months |
24 Months |
|
CA Final Study Period |
– |
6 Months |
|
Total CA Course Duration |
48 Months |
42 Months |
|
Work Experience for CoP |
– |
12 Months |
The CA New Scheme 2023 is scheduled for implementation starting from the May 2024 examination session. The Institute of Chartered Accountants of India (ICAI) has clarified that the new course structure will not be applicable for the November 2023 attempt.
Initially, according to CA Aniket Sunil Talati, the Vice-president of ICAI, the CA New Scheme 2023 would have been introduced for the November 2023 attempt if it received approval from the Ministry of Corporate Affairs (MCA) before February 2023. However, if the MCA's approval process encountered delays, the new scheme's implementation would then be pushed to the May 2024 attempt.
| Particulars | Date/Attempt |
|---|---|
|
Last date for Registration in Foundation under Existing Scheme |
1st July 2023 |
|
Last date for Registration in Intermediate and Final Courses under Existing Scheme |
30th June, 2023 |
|
Date of commencement of Registration and Conversion in Foundation Course under New Scheme |
2nd August, 2023 |
|
Date of commencement of Registration and Conversion in Intermediate and Final Courses under New Scheme |
1st July, 2023 |
|
First Foundation Examination under New Scheme |
June, 2024 |
|
First Intermediate and Final Examination under New Scheme |
May, 2024 |
|
Last Foundation Examination under Existing Scheme |
December, 2023 |
|
Last Intermediate and Final Examination under Existing Scheme |
November, 2023 |
|
Last date of commencement of three years of Practical Training |
30th June, 2023 |
|
Date of commencement of two years uninterrupted Practical Training |
1st July, 2023 |
Want to pursue a career in CA?
The ICAI CA Foundation syllabus comprises four papers, covering essential subjects to provide you with a strong foundation for your CA career:
Paper-1: Principles and Practice of Accounting
Paper-2: Business Laws and Business Correspondence and Reporting
Paper-3: Business Mathematics and Logical Reasoning & Statistics
Paper-4: Business Economics and Business and Commercial Knowledge
| Current Scheme | New Scheme |
|---|---|
|
Paper-1: Principles and Practice of Accounting |
Paper – 1: Accounting (100 Marks) |
|
Paper-2: Business Laws and Business Correspondence and Reporting |
Paper – 2: Business Laws (100 Marks) |
|
Paper-3: Business Mathematics and Logical Reasoning & Statistics |
Paper – 3: Quantitative Aptitude (100 Marks) |
|
Paper-4: Business Economics and Business and Commercial Knowledge |
Paper – 4: Business Economics (100 Marks) |
Unlock your path to success with our comprehensive CA Foundation Combo Course, offering all subjects in one package. Elevate your preparation and maximize your chances of excelling in the exams. Enroll now for a holistic learning experience that sets you on the journey to becoming a distinguished Chartered Accountant.
The ICAI has implemented modifications to the CA Foundation exam structure as well. Under the revised framework, achieving a minimum of 50% marks is essential to successfully pass the CA Foundation exams. Additionally, a penalty of 0.25 marks will be deducted for each incorrect multiple-choice question response.
These are all the changes in the new scheme of education and training for the CA Foundation course
Embark on a journey of excellence in the 2023 CA exams by joining the CA Foundation coaching program at Stargate Education. Our meticulously designed classes perfectly align with the latest ICAI exam pattern and include comprehensive study materials.
But that's not all – if you're at the beginning of your CA journey, our dedicated counselors are here to guide you. Enroll with us and have all your CA-related doubts cleared, ensuring you start your journey on the right foot.
Our comprehensive CA Foundation Course will equip you with the necessary knowledge and skills to excel in the CA Foundation exams.
Also Read For Eligibility
| New Scheme | Current Scheme |
|---|---|
|
Paper-1: Advanced Accounting |
Paper-1: Accounting |
|
Paper-2: Corporate laws |
Paper -2: Corporate and other laws |
|
Paper-3: Cost and Management Accounting |
Paper-3: Cost and Management Accounting |
|
Paper-4: Taxation |
Paper 4: Taxation |
|
Paper -5: Auditing and Code of Ethics |
Paper-5: Advanced Accounting |
|
Paper -6A: Financial Management (50 Marks) |
Paper -6: Auditing and Assurance |
|
Paper-6B: Strategic Management (50 Marks) |
— |
|
— |
Paper-7: Enterprise Information Systems & Strategic Management |
|
— |
Paper -8: Financial Management & Economics for Finance |
There will be alterations in the passing requirements for the CA Intermediate exams as well. All six papers will now feature 30% of their questions in multiple-choice format. Moreover, an incorrect response will lead to a deduction of 0.25 marks due to negative marking.
CAs identify and manage financial risks, safeguarding the financial stability of the organization.
Under the latest education and training framework, ICAI has introduced self-paced learning modules. These modules offer students the flexibility to study at their preferred pace and take online exams.
These self-paced modules are categorized into four sets: Set A, Set B, Set C, and Set D.
To qualify for the CA Final exams, students are required to successfully complete these four sets. Achieving a score exceeding 50% in each module is essential for clearance.
Two of these sets, Sets A and B, covering Economics Law and Strategic Cost Management, are obligatory. It's noteworthy that these subjects have been removed from the CA Final old course.
As for the other two sets, students are given the autonomy to select topics that resonate with their preferences. During their articleship training period, students can engage in online study of these self-paced modules, thereby concurrently progressing in their exam preparations.
| New Scheme | Current Scheme |
|---|---|
|
Paper-1: Financial Reporting |
Paper-1: Financial Reporting |
|
Paper -2: Advanced Financial Management |
Paper -2: Strategic Financial Management |
|
Paper-3: Advanced Auditing & Professional Ethics |
Paper-3: Advanced Auditing and Professional Ethics |
|
Under Self-Paced Online Mandatory Module |
Paper -4: Corporate and Economic Laws |
|
Under Self-Paced Online Mandatory Module |
Paper -5: Strategic Cost Management and Performance Evaluation |
|
Paper -4: Direct Tax Laws and International Taxation |
Paper -7: Direct Tax Laws and International Taxation |
|
Paper -5: Indirect Tax Laws |
Paper-8 Indirect Tax Laws |
| Aspect | New Scheme | Current Scheme |
|---|---|---|
|
Eligibility for admission |
A student who has passed both groups of Intermediate Examination and completed Integrated Course on Information Technology and Soft Skills. |
A student who has passed both groups of Intermediate Examination and completed Integrated Course on Information Technology and Soft Skills. |
|
Validity of registration |
10 years. Re-validation with prescribed fee permitted. |
No Restrictions |
|
Eligibility for
appearance in examination |
Completed Advanced ICITISS Course (Advanced IT and MCS).
Completed 6 months after the completion of practical training before the 1st day of month in which examination is held. Qualified the four self-paced online modules. |
Completed Advanced ICITISS Course(Advanced IT and MCS).
Completed 2.5 years of Practical Training |
The recently introduced CA New education and training scheme by ICAI, set to take effect from the May 2024 exams, encompasses all the details outlined above. This fresh curriculum is designed to equip upcoming Chartered Accountants for the global landscape.
Must Read Career Opportunities After Doing CA
Keep a close watch on this Stargate Education page for continuous updates on ICAI's announcements concerning the new structure of the CA Course.
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