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|Eligibility for admission||
A student who has passed both groups of Intermediate Examination and completed Integrated Course on Information Technology and Soft Skills.
|Same as Before|
|Validity of registration||No Restrictions||10 years. Re-validation with prescribed fee permitted.|
|Eligibility for appearance in examination||Completed Advanced ICITISS Course (Advanced IT and MCS).
Completed 2.5 years of Practical Training
|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.
|Aspect||Current Scheme||Proposed Scheme|
|A||Total number of days of training||1095 (365 X 3)||730 (365 X 2)|
|B||Leaves permitted||156 leaves (1095 X 1/7th days )||24 leaves (12 per year)|
|C||No of Sundays (52 in a year)||156 (52 X 3)||104 (52 X 2)|
|D||No. of Gazetted Holidays (Approx 15 in a year)||45 (15 X 3)||30 (15 X 2)|
|E||Paid leaves for Advance ITT and MCS||30||0*|
|F||Effective days of Training [Total of A – (B+C+D+E)]||708=[1095 –(156+156+45+30)]||572 =[730-(24+104+30+0)|
|Difference between period of the traning under proposed scheme||136 days (708-572)|
|* Advanced ITT and MCS can be done after completion of Training under Proposed Scheme|
|Aspect||Current Scheme||Proposed Scheme|
|Registration for Foundation / appear for 10+2||Start||Start|
|Appear for Foundation Examination||4 months||4 months|
|Study for Intermediate Examination||8 months||8 months|
|Articleship||36 months||24 months|
|Study for Final Examination||-||6 months|
|Total period to become ICAI member||48 months||42 months|
|Work experience for applying CoP||-||12 months|
The above neither includes time taken for declaration of results nor waiting time before next exam falls due. However, with the proposal to conduct online examination and / or more than 2 exams in a year, the time for results or next exam due would come down.
|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 & Professional Ethics|
|Paper -4: Corporate and Economic Laws||Under Self-Paced Online Mandatory Module|
|Paper -5: Strategic Cost Management and Performance Evaluation||Under Self-Paced Online Mandatory Module|
|Paper -7 : Direct Tax Laws and International Taxation||Paper -4 : Direct Tax Laws and International Taxation|
|Paper -8 : Indirect Tax Laws||Paper -5 : Indirect Tax Laws|
|Paper -6 : Electives (1 out of 6)||Paper -6 : Integrated Business Solutions (Multi-disciplinary case study with Strategic Management)|
|Paper -6A : Risk Management|
|Paper -6B: Financial Services and Capital Markets|
|Paper -6C : International Taxation|
|Paper -6D : Economic Laws|
|Paper -6E : Global Financial Reporting Standards|
|Paper -6F : Multidisciplinary Case Study|
|Set A (compulsory)||Set B (compulsory)|
||Strategic Cost Management and Performance Evaluation|
|Set C (any one to be selected)||Set D (any one to be selected)|
||Incorporating Multi- disciplinary approach envisaged in NEP, 2020
|Aspect||Proposed / Existing||Final|
|Number of papers||Existing||8 papers (2 groups of 4 papers each)||Proposed||6 papers (2 groups of 3 papers each)|
|No. of Examinations in a Year||Existing||2||Proposed||2 (to be increased to 3 after systems are in place)|
|Medium (Language)||Existing||English or Hindi||Proposed||English or Hindi|
|Manner of assessment||Existing||30% MCQs / Case Scenario based and 70%descriptive questions and closed book in select papers.
No negative marking.
|Proposed||30% case scenario / study based MCQs and 70% descriptive questions in all papers with negative marking of 25% for each wrong answer to MCQs.
Open book/Restricted open book pattern of assessment.
|Negative marking would prevent students from resorting to guess work while answering questions. They would strive to improve their preparation and hone their application skills in order to answer correctly in the MCQ based papers|
|Pass percentage||Existing||40% marks in individual paper and 50% marks in aggregate to pass the group.||Proposed||40% marks in individual paper and 50% marks in aggregate to pass the group.
For Self-paced online modules the minimum marks for passing in each module would be 50%.
|Aspect||Proposed / Existing||Intermediate/Final|
|Exemption||Existing||If student secures 60% or more, in paper/s in one attempt, exemption of such paper(s) for immediate 3 attempts is allowed and thereafter exemption will lapse.|
|Proposed||If student secures 60% or more in paper/s in one attempt, exemption of paper(s) for immediate 3 attempts is allowed.
Thereafter, exempted paper/s will be treated as permanently passed and student has to score 50% to pass in the remaining paper/s individually. Student may, however, opt to surrender the exemption after three attempts.
|Industrial Training||Last 9 to 12 months of the Practical Training||Same as before|
|Transfer||Articles so engaged may, by agreement between the articled assistant and his principal, be terminated under such exceptional circumstances or conditions, as may be decided by the Council||During the second year of training, the termination of articles shall be permitted if the articled assistant opts for industrial training or under such exceptional circumstances or conditions, as may be decided by the Council.|
|Stipend||Existing slab has been indicated in the table beneath Regulation 48(1)||There has been 100 per cent increase in the stipend presently paid to the articled assistants.|
|Eligibility Criteria||A candidate, who has opted for the Accounting Technician level, shall be declared to have passed in that level, if he -
(a) passes either of Groups;
(b) completes the Orientation Course for such period and in such manner and within such time as may be specified by the Council from time to time; and
(c) completes the practical work experience in accounting and related fields for a period not less than twelve months in such manner as may be specified by the Council from time to time.
|A candidate would be awarded the certificate of Business Accounting Associate (BAA) on fulfilment of following criteria –
(a) If he has passed both groups of intermediate level examination.
(b) Completed his practical training,
(c) Completed the soft-skills and information technology courses
(d) Qualified the four self-paced learning modules
|Eligibility Criteria||No specific requirement||A member desiring to obtain Certificate of Practice (CoP) at any point of time would have to undergo one year of post-qualification experience in a CA firm.
In case of existing members, the requirement would be treated as having complied with if they have one year of post qualification experience in a CA firm at any point of time in the last 5 years.
|Eligibility Criteria||No specific requirement||
The Institute of Chartered Accountants of India (ICAI) has formulated the New Scheme of Education and Training in lines with International Education Standards and National Education Policy, 2020 (NEP) after considering the inputs from various stakeholders. The New Scheme of Education and Training has been notified in the Gazette of India on 22nd June, 2023 and will come into effect from 1st July, 2023. The New Scheme of Education and Training at a glance, is available at https://resource.cdn.icai.org/74483bos-nset.pdf
Important dates for the implementation of New Scheme of Education and Training are given as under:
|1||Last date for Registration in Intermediate and Final Courses under Existing Scheme||30th June, 2023|
|2||Date of commencement of Registration and Conversion in Intermediate and Final Courses under New Scheme||1st July, 2023|
|3||First Intermediate and Final Examination under New Scheme||May, 2024|
|4||Last Intermediate and Final Examination under Existing Scheme||November, 2023|
Syllabus, Transition Scheme and Frequently Asked Questions (FAQs) will be hosted on 1st July, 2023. Paper wise exemption plan will be announced in due course.