All CA-courses to witness major changes

Aurangabad, June 25:

Chairman of Board of Studies of Institute of Chartered Accounts of India (ICAI) CA Dayaniwas Sharma said that there would be major changes in all the CA programmes to make youths globally competent professionals.

The ICAI prepared a draft of revised the syllabus of CA Foundation, CA Intermediate and CA Final programmes as per the New Education Police 2020.

Talking to this newspaper CA Dayaniwas Sharma who was here to attend a national conference for CA Students on Saturday, said the draft of the ‘Proposed and New Educational Scheme of CA Student’ was kept in the public domain for seeking feedback from all stakeholders including students, parents, professionals and industrialists.

“We have received around 19 k feedbacks from the public. After deliberations on the feedback, the draft will be sent to the Ministry of Corporate Affairs for final approval and is likely to be implemented from December 2022.

Some of imp CA course-wise changes are as follows;

1.CA Foundation:

--Partly subjective and partly objective.

--There will be four papers

--- A dedicated 100 marks descriptive paper against the current 60 marks paper is proposed for the ‘Business Laws’ paper

--A dedicated 100 marks paper against the current 60 marks paper on ‘Business Economics’ will include topics from the subject ‘Economics from Finance of the current Intermediate syllabus.

2.CA Intermediate:

--Partially objective and partially subjective

--Number of subjects six (two groups, three papers each)

---For the Intermediate level, the number of papers will be six instead of eight in the current scheme.

--Instead of two papers on accounting in the current scheme, there will be a single paper titled Advanced Accounting. However, there will be no reduction in the content.

--The paper on Corporate Laws would cover the Companies Act in its entirety.

--Closed book examination 30 per cent assessment by way of a case study based objective type questions and 70 per cent by way of descriptive questions.

3.CA Final:

---The number of subjects at Final level will be six instead of the current eight (two groups, three papers each)

-- The remaining two papers in the existing course, namely, Economic Laws and Strategic Cost Management and Performance Evaluation will be included in the new scheme as self-paced online modules.

--The current elective papers like risk management and financial services and capital markets would be included in a self-paced online module, out of which students can opt, any one based on their desired area of specialisation.

--- Ethics and Information Technology will be integrated into the curriculum.

-- Both open book and restricted book pattern

--30 per cent assessment by way of case study while 70 per cent assessment by way of descriptive questions.

--Mandatory multi-disciplinary case study

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Artcileship

--Three years Articleship to be divided into two sections.

--The first two-year articleship will be done before CA final examination and the remaining one year after it

--Number of days and leaves will be reduced

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BAA

There are many candidates who did not clear CA final, leave the field or practise as non-qualified. CA students not qualifying Final level examination may apply for Business Accounting Associate (BAA) after fulfilling the prescribed criteria. This will provide them with recognition for the profession.

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Introduction of Self-paced online modules

--A total of four self-paced online learning modules are being introduced.

--Students can learn and qualify the modules at their own pace after qualifying the intermediate level examination