Frequently Asked Questions (FAQs) on CA New Course Scheme 2024 by ICAI
New CA Syllabus Implementation Confirmed from May 2024 Attempt
The Institute of Chartered Accountants of India (ICAI) has recently announced the implementation of the CA New Course Scheme 2024, aligned with international standards and the National Education Policy, 2020 (NEP). This update, published in the Gazette of India on June 22, 2023, reflects ICAI's commitment to providing a comprehensive and globally recognized curriculum for aspiring chartered accountants in India.
The implementation of the new scheme is scheduled to commence from July 1, 2023.
CA New Course Scheme 2024: FAQs and Key Information
Get all the essential information about the highly anticipated CA New Course Scheme 2024 by ICAI. In this article, we provide answers to frequently asked questions. Stay updated with the latest news from the Institute of Chartered Accountants of India (ICAI) regarding this revised syllabus.
Q1: What is the CA New Curriculum for 2024?
A1: The details of the CA New Curriculum, including subjects, examination patterns, and skill-based modules, will be provided on or after 1st July.
Q2: When will the CA New Course Scheme be implemented? Is it applicable for May 2024 exams?
A2: Yes, ICAI has announced that the CA New Course Scheme will be implemented from 2024. The first Foundation Examination under the new scheme will be applicable from June 2024, while the Intermediate and Final Examinations will be applicable from May 2024.
Q3: What are the key changes in the CA New Course Scheme 2024?
A3: The CA New Course Scheme 2024 introduces significant updates to subjects, examination patterns, and skill-based modules, ensuring a more comprehensive and relevant curriculum for aspiring chartered accountants.
Q4: How does the CA New Course Scheme affect Articleship and practical training?
A4: The CA New Course Scheme reduces the duration of Articleship to 2 years, with specific guidelines for leaves and training days. Refer to the updated table below for a comparison between the current and proposed scheme:
|Articleship||Current Scheme||Proposed Scheme|
|A. Total number of days of Training||1095 (365 x 3)||730 (365 x 2)|
|B. Leaves permitted||156 leaves (1095 x 1/7th Days)||24 leaves (12 per year)|
|C. No of Sundays (52 in a year)||156 (52 x 3)||104 (52 x 2)|
|D. No. of Gazetted Holidays Approx. 15 in year)||45 (15 x 3)||30 (15 x 2)|
|E. Paid leaves for Advance ITT and MCS||30||0 [See Note]|
|Effective days of Training [Total of A - (B+C+D+E)]||708 [1095 - (156 + 156 + 45 + 30)]||572 [730 - (24 + 104 + 30 + 0)]|
Difference between the period of training under Current and Proposed Scheme = 136 days (708-572).
Note: Advanced ITT and MCS can be done after completion of Training under the Proposed Scheme.
Q5: Which subjects have been removed from the CA Final syllabus?
A5: The CA Final New Syllabus removes Corporate & Economic Law and SCMPE, streamlining the curriculum to focus on essential topics.
Q6: Will the CA New Curriculum impact existing CA students?
A6: The ICAI has provided a Conversion (Transition) Scheme and also provided applicability of New Curriculum in all possible Scenarios.
Q7: Are there any changes in the syllabus or exam pattern?
A7: There will be 30% case scenario/ case-study based MCQs and 70% descriptive questions in all the six papers of Intermediate & Final Examination.
Q8: Are there any changes in the study material or reference books?
Q9: How can I prepare for the CA exams under the new curriculum?
A9: The Transition Scheme for Students Preparing under Existing Scheme has been updated by ICAI. You can refer to that and based on your scenario decide which is your applicable term and syllabus and accordingly start preparing.
Q10: Will the CA New Curriculum impact the duration of the CA course?
A10: Yes. New Curriculum can reduce the duration of the CA Course as the Duration of Practical Training after CA Intermediate Exams has been reduced from 3 Years to 2 Years. Moreover, students can appear for exams after 6 months of completing of practical training. Thus if a student passes all levels in 1st attempt and also complete Self Paced Learning Module along with Practical Training, then the duration to become Qualified Chartered Accountant will be 6 months less as compared to the old scheme.
Q11: Are there any changes in the registration process for the CA exams under the new curriculum?
A11: Students need to register for Foundation/ Intermediate/ Final level under the New Scheme of Education and Training through Self Service Portal (SSP) at the link https://eservices.icai.org/..
Q12: Will the CA New Curriculum affect the eligibility criteria for appearing in the CA exams?
A12: No. The eligibility Criteria remains same..
Q13: Are there any changes in the marking scheme for different subjects in the CA exams?
A13: There will be 30% case scenario/ case-study based MCQs and 70% descriptive questions in all the six papers of Intermediate & Final Examination.
Q14: Will there be any transitional provisions or exemptions for students transitioning to the new curriculum?
A14: Exemptions related to New Curriculum will be notified by the Examination Department Separately.
These frequently asked questions (FAQs) aim to provide essential information about the highly anticipated CA New Course Scheme 2024 by ICAI. Stay updated with the latest news from the Institute of Chartered Accountants of India (ICAI) regarding this revised syllabus to ensure you have the most accurate and up-to-date information.
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