The Institute of Chartered Accountants of India (ICAI) will now be conducting the CA Foundation and Inter exams thrice a year, instead of the usual two attempts. The institute is likely to change the pattern from this year, after the May exams.
While the pilot run of this new exam pattern will be implemented at the Foundation and Intermediate levels, the CA Final exam will continue to follow the traditional biannual format for a while.
This decision was taken in a recent meeting of the Central Council of the Institute of Chartered Accountants of India (ICAI).
“We are starting with Foundation and Inter for now, and thrice a year. We also plan on extending it to four attempts in a year, depending on the response we receive from this trial run,” Dhiraj Khandelwal, Central Council Member (CCM) of ICAI.
If a student is ready for exams after November, then the student will not have to wait till May or June and will have another attempt in February. Similarly, if a student is unhappy with their February result and wants to re-appear for the exam, then they will be able to do so in November, Khandelwal explained. Appearing for one, two, or all attempts will be a candidate’s choice, he further said.
The institute is bringing this change with the intention of easing the pressure on CA aspirants, and to ensure students do not have to wait for a long period and have more chances to appear for the CA exams. The ICAI is trying to follow in the footsteps of several international accounting bodies such as ACCA, which conduct exams thrice or four times in a year.
Meanwhile, students are worried about the upcoming May exams that may clash with the general elections. While social media has been buzzing with news of the postponement of CA exams, the ICAI has termed the reports as ‘fake’.
“We have not taken any such decision as of now, because the election dates have not been announced yet so students should not pay heed to any such fake news being circulated. Once the dates are announced, we will make a decision within a week and let students know. If exam dates clash with election dates in certain states or for limited subjects, then exam dates will only be revised for those selected subjects or states. But if a lot of exams are clashing with elections, then we will accordingly take a decision,” Khandelwal stated.
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