The Institute of Chartered Accountants of India (ICAI) has taken proactive and exemplary initiatives to facilitate best resources, catering to the learning needs of its students. For this, ICAI has taken some initiatives towards reforms in the CA Course and Examinations System.
ICAI, being the largest accounting education body in the world, is compliant with the principles enlisted in the International Education Standards issued by the IAESB of International Federation of Accountants. To be in line with the International Education Standards, ICAI is taking many initiatives towards reforms in CA Course and Examination System.
Reforms in CA Course and Exam Pattern
ICAI said in a press release that from month May next year, the CA exam will have 30 per cent multiple choice questions for selected papers at Intermediate and Final levels. This is along with the latest reform, executed from November 2018 of open book exam.
From ICAI November 2018 exams, Electives are made open book exams and students have been allowed to bring their own study material for reference during the exam. In Electives, 40% MCQ (Multiple Choice Questions) based questions have been introduced from November 2018, to reduce subjectivity and steering the system towards objective examination and evaluation.
Chartered Accountants body ICAI said that in the latest initiative from May 2019, the CA intermediate and final exam will have 30 per cent multiple choice questions for selected papers to strengthen conceptual clarity among the students.
CA Electives to Have Specialization
Today, the world is focusing on specialization. The new age successful professionals are the ones who are delivering qualitative services in one area rather than knowing little in every area.
To prepare the coming generation of CAs as experts, specializing in their chosen respective areas, Electives in the emerging areas of Risk Management, International Taxation, Financial and Capital Markets, Global Financial Reporting Standards, have been introduced in CA New course. Assessment of electives is based on case studies to sharpen application, analytical and comprehension skills.
Digital and Centralized Evaluation of CA Exams
Besides many reforms, a pilot project of centralised evaluation of one paper in the final level of November 2018 is also being implemented. In the central evaluation, under the supervision and guidance of head Examiner/Associate Head Examiners, Examiners will be evaluating the answer books. Based on the outcome of this process, the digital and centralised evaluation will be rolled out in the remaining subjects as well. This reform will make the process of examination and evaluation more credible.
Apart from that, on technology front ‘Virtual ICAI’ portal for students is being created. Using the portal, students will be able to fill the forms digitally for all purposes and check the status online. Once the platform is fully operational, there will be no need for students to visit any branch or regional office for any queries, said ICAI.
More Attempt to Old Syallbus Students
Students registered in the IPCC have been given two more attempts after May 2019 to clear the papers under the old scheme.
ICAI President said in a statement that, “Reforms are a continuous process and ICAI is in seize of problems and is continuously working towards resolving issues of the students. The students & CA fraternity is working together for a common objective i.e. to enhance the glory and dignity of the Institute and CA profession maintaining the quality standards”.
This is a Good News for ICAI Members.!! Here you got the brief details about “Reforms in CA Course and Exam”. Have any doubts or queries, you can discuss via comments or feedback in the below comment box or above query box.
Stay in touch with us for more on Higher Education, Professional Course, Entrance Exams update, Career Guidance among other information. Connect with us on Linkedin, Facebook, and Twitter for more updates on CA, CS, CMA, Other professional courses, Post qualification courses and their preparation.