The revised programme for Chartered Accountancy Syllabus has been approved by the Central Government.
With the new syllabus for the CA 2023 announced, some papers from all 3 levels are merged, while some are removed.
The Institute of Chartered Accountants of India (ICAI) has launched a new education and training programme for future chartered accountants. This new scheme adheres to worldwide education standards and integrates the National Education Policy, 2020 (NEP) recommendations. The scheme, which will come into effect on July 1, intends to equip individuals pursuing a career in chartered accounting with a comprehensive and globally recognised education and training framework.
The revised programme for Chartered Accountancy Syllabus has been approved by the Central Government. The rationale for the shift is that the CA Institute will be celebrating its 75th anniversary on that date where President Draupadi Murmu will also take part. Many changes will be visible in CA studies following the deployment of the new system. The duration of the CA articleship programme will also be lowered as a result of this.
This new initiative is projected to influence more than 8,00,000 students pursuing Chartered Accountancy to become members of the ICAI. The Ministry of Law and the Ministry of Corporate Affairs have both accepted the new CA syllabus and practical training framework. The ICAI’s Central Council has already authorised it.
There were six subjects at the CA foundation level, however, two of them have been removed: Business Corresponding & Reporting and Business & Commercial Knowledge. So, according to the New Scheme, there are four subjects listed in the chart below:
Proposed:
Paper 1: Accounting
Paper 2: Business law
Paper 3: Quantitative Aptitude, Business Mathematics, Logical Reasoning, Statics
Paper 4: Business Economics
Current:
Paper 1: Principles and Practice of Accounting
Paper 2: Business Laws and Business Correspondence and Reporting
Paper 3: Business Mathematics and Logical Reasoning and Statistics
Paper 4: Business Economics & Business & Commercial Knowledge
CA Foundation Passing Criteria
The ICAI has made certain adjustments to the CA Foundation passing requirements in the New Scheme, in which students must obtain 50% to pass the exams and will be penalised 0.25 marks for incorrect answers. The modifications were done in an attempt to make the course more compact and effective keeping in mind the relevance to the industry.