ICAI-Revised Scheme of Education and Training for Chartered Accountancy Course

Revised Scheme of Education and Training for Chartered Accountancy Course

Chartered Accountants (Amendment) Regulations, 2016

Revised Scheme -Route I – Foundation Course #

Under the Foundation Course Route,the following steps are required:

• Register with Board of Stud.es (BoS) after appearing in Class Xll examination till June 30/Dec 31
• Be eligible to appear for foundation examination after passing Class XII examination. The first Foundation examination can be taken in November/May, as applicable. following passing of  Class  XII examination.
• Qualify  Foundation Course.
• Register with the BoS for the Intermediate Course
• Complete 8 months of study course
• Appear and Pass in either or both Groups of Intermediate Course

Successfully complete Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS) before commencement of the Practical Training.

• Register for Three years Practical Training on passing either or both the Groups of Intermediate Course.
• Register for the Final Course after qualfying both the Groups of Intermediate Course
• Successfully complete Four Weeks Advanced ICITSS during the last two years of Practical Training
• Complete Practical Training.
• Appear in Final examination after completion of Practical Training and Advanced ICITSS.
• Become Member

#Note: ICAI has decided in principle the above mentioned Scheme. However, the Scheme will be notified in the official Gazette in due course.

Revised  Scheme: Route II -Direct Entry  Route #

The ICAI allows Commerce Graduates/Post-Graduates (with minimum 55% marks) or other Graduate/Post Graduates (with minimum 60% marks) and Intemediate level passed students of Institute of Company Secretaries of India and Institute of Cost Accountants of India to enter directly to its Intermediate Course. The following steps are required to be undertaken by the eligible Graduates and Post Graduates under this route:

• Register with the BOS for the Intermediate course (provisional registration allowed to the students doing Final year of graduation).
• Successfully compete four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS) before commencement of the Practical Training.
• Register for three years practical training
• Appear in Intermediate examination after nine months of Practical Training
• Quality Intermediate Course
• Register for the Final Course after qualifying both Groups of lntemediate Course.
• Successfully complete four Weeks Advanced ICITSS during the last two years of Practical Training.
• Complete Practical Training.
• Appear in Final examination after completion of Practical Training and Advanced ICITSS.
• Become Member

Note. Candidates who have passed lntermediate level examination of ICSI/ICWAI and enter the CA Intermediate course directly shall be treated at par with Foundation passed students and shall have to undergo the CA course in the manner akin to the Foundation passed students.

Foundation Course
Number and Name of Papers
Number of Papers – 4
Paper 1: Principles and Practices of Accounting (100 Marks)
Paper 2:Mercantile law & General English (100 Marks)
    Part 1: Mercantile law (60 Marks)
    Part II: General English ( 40 Marks)
Paper 3*: Business Mathematics and logical Reasoning & Statistics ( 100 Marks)
    Part 1:Business Mathematics and logical Reasoning (60 Marks)
    Part II:Statistics (40 Marks)
Paper 4*: Business Economics & Business and Commercial Knowledge ( 100 Marks)
    Part 1:  Business Economics (60 Marks)
    Part II: Business and Commercial Knowledge ( 40 Marks)

* Paper  3 and Paper 4 will be Objective type papers.

Note:
Passing percentage: Aggregate 50% and Subject wise- 40% at one sitting.
Objective type question of 1 or more marks.
Examination: In the month of N ovember and May after passing Class XII

 Intermediate Course

Number and Name of Papers
Number of Papers – 8

Group-I
Paper I : Accounting (100 Marks)
Paper 2: Corporate laws & Other laws (100 Marks)
Part I : Corporate laws (60 Marks)
Pare II : Other laws (40 Marks)
Paper 3 : Cost Accounting (100 Marks)
Paper 4 : Direct Tax laws & Indirect Tax laws (100 Marks)
Part I :Direct Tax laws (60 Marks)
Part II : Indirect Tax laws (40 Marks)

Group-II
Paper 5 : Advanced Accounting (100 Marks)
Paper 6 : Auditing and Assurance (100 Marks)
Paper 7 : Financial Management & Business Economic Environment (100 Marks)
Part I : Financial Management (60 Marks)
Pare II : Business Economic Environment (40 Marks)
Paper 8 : lnformation Technology & Strategic Management (100 Marks)
Part I : Information Technology (60 Marks)
Part II : Strategic Management (40 Marks)

Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS)
– Duration :4 weeks (2 weeks for soft skills and 2 weeks for IT)
– When to complete: Students registering for the Intermediate Course shall be required to successfully complete ICITSS belore comrnencement of Practical Training

Practical Training

• Duration of Practical Training: Three Years
• Commences after completing Integrated Course on Information Technology and Soft Skills (ICITSS) and passing either or both Gcoups of Intermediate Examination.
• For direct entrants colllng lhlough Gcaduation and Post Graduation route, the Practical Training commences immediately after they complete four weeks  ICITSS

Advance Four Weeks Integrated Course on Information Technology and Soft Skills (AICITSS)
Duration: 4 weeks (2 weeks for soft skills and 2 weeks for Advance IT)
When to complete: Students undergoing Practical Training shall be required to do AICITSS during the last 2 years of Practical Training but to complete the same before appearing in the Final Examination

Final Course
Number and Name of Papers
Number of Papers- 8

Groups-I
Paper 1: Financial Reporting (100 Marks)
Paper 2 :Strategic Financial Management (100 Marks)
Paper 3 : Advanced Auditing and Professional Ethics (100 Marks)
Paper 4 : Cotporate Laws and other Economic Laws (100 Marks)

Groups-II
Paper  5 : Advanced  Management  Accounting ( 100 Marks)
Paper 6 :Financial Services and Capital Markets & Information Systems Control and Audit (100 Marks)
Part 1: Financial Services and Capital Markets (50 Marks)
Part II: Information Systems Control and Audit (50 Marks)
Paper 7: Advanced Direct Tax Laws & International Taxation
Part I: Advanced Direct Tax Laws (70 Marks)
Part II: International Taxation (30 Marks)
Paper- 8: Advanced Indirect Tax Laws (100 Marks)

Revised Scheme at a Glance

ICAI, as required by sub-section (3) of section 30 of the Chartered Accountants Act, 1949, has also issued draft regulations. Any person desiring to make any objection or suggestion in respect of the said draft regulations, may forward the same to the Council of the Institute of Chartered Accountants of India within the period so specified, addressed to the Secretary, the Institute of Chartered Accountants of India, ICAI Bhawan, Indraprastha Marg, New Delhi – 110 002;