New Delhi: The Institute of Chartered Accountants of India (ICAI) has formulated the Revised Scheme of Education and Training in line with International Education Standards issued by International Federation of Accountants (IFAC) after considering the inputs from various stakeholders. The Revised Scheme of Education and Training for CA course will come into effect from 1 July 2017.
ICAI, the regulator of Chartered Accountant profession, has now upload the all relevant documents on Revised Scheme of Education and Training for CA course on its website. These documents include: details on the scheme of the course, FAQs, Implementation Schedule.
Under the Revised Scheme, the three levels will now be called as Foundation, Intermediate and Final in place of earlier levels i.e. Common Proficiency Course (CPC), Intermediate (Integrated Proficiency Competence) Course and Final Course. For registering in Foundation Course, a student must have appeared in class 12th Examination. The first examination will be held at all levels under Revised Scheme in May 2018.
One can qualify Foundation Examination by securing 50 % in aggregate and 40 % in each subject individually.
A student can register in Intermediate Course w e f 1st July 2017, if qualified PE I /CPT/ Foundation or if joining through Direct Entry Route. One can appear in Intermediate exams in May 2018. One has to complete 8 months of study period before appearing for the Intermediate Examination. If one qualifes CPT in July, 2017, one can register for Intermediate Course under the Revised Course.
The Intermediate Examinations will be held in the month of May and November every year. 1st Sep. and 1st March is the cut-off date for registration for being eligible to appear in May and November examinations respectively under the Foundation Route.
The Scheme of the Course is available at http://resource.cdn.icai.org/45556bos35643summary.pdf .
In order to answers the queries which may arise in the mind of stakeholders with respect to Revised Scheme, FAQs have been framed which are available on the website of ICAI: http://resource.cdn.icai.org/45555bos35643faq.pdf
Further, the ICAI has uploaded the detailed implementation schedule depicting the information regarding the last date of registration under Existing Scheme, date of commencement of registration under Revised Scheme, last exam at all levels under Existing Scheme and the number of parallel attempts of examinations at all levels under both Exiting and Revised Scheme.