The Centre has given its nod for the much awaited new scheme of education and training for the chartered accountancy course, paving the way for its roll out from July 1 when the CA Institute will celebrate its 75 th anniversary of its foundation.

This new scheme is expected to impact over 8 lakh students who are currently pursuing the chartered accountancy course for obtaining membership in the Institute of Chartered Accountants of India (ICAI), which is the world’s largest accounting body (members and students put together) in the world.

“Both the law ministry and corporate affairs ministry have given their nod to the new curriculum and proposed new practical training structure. It is expected to be notified in the next few days. The Central Council of ICAI has already approved it”, sources said.

Indications are that the new scheme of education and training  will get launched on July 1 at the hands of the President Droupadi Murmu, who will be the chief guest for the CA foundation day event in the capital.

ICAI also now proposes to mandate uninterrupted practical training of two years for CA aspirants. Currently, every student will have to go through a three year practical training period, which has been done away with in the proposed new dispensation. 

The upcoming November and December exams will be under the old curriculum, while the May 2024 and June 2024 exams will be based on the new curriculum. 

There is no plan to have parallel exams and everyone will be converted into new system from May (intermediate and final exams) and June (foundation exams) next year, sources added.

New curriculum

From artificial intelligence to blockchain, the new curriculum will expose aspiring chartered accountants to cutting edge technology and make them “future ready”. It is also proposed to prepare the CA aspirants as business solution providers. The curriculum is expected to provide multidisciplinary case studies to prepare the aspirants to shine in the corporate world.

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