The Institute of Chartered Accountants of India (ICAI), for the objective of aligning with the global effective practices and improving chances for students, has announced that the CA Final examinations shall now be conducted three times a year. The same revision has been approved by the 26th council of ICAI cited a transformation from the earlier system where the CA final exams were held twice a year.
Through a press release by the Public Relations Committee of ICAI, the announcement made complies with a similar decision taken last year in which the ICAI has increased the frequency of CA Intermediate and Foundation exams from two to three times a year.
The journey of a CA comprises three significant levels-
- Foundation– The entry-level examination for aspiring Chartered Accountants.
- Intermediate– The second stage involves an in-depth study and understanding of financial, taxation, and auditing principles.
- Final– The last and challenging phase of the process is the CA qualification.
Earlier, ICAI has held these exams twice a year in May and November. Now with the CA final also following suit, the exams shall be conducted in January, May, and September every year, providing students a higher number of attempts and greater flexibility in planning their exam strategy.
This decision has arrived when the demand for the CAs has surged both in India and internationally. The role of CAs with India’s growing economy, rapid digitalization of financial transactions, and expanding corporate sector, in financial reporting, tax advisory, and corporate governance is more essential than ever.
The Indian CA aspirants may get the advantage from the revamp, who are aspiring for international opportunities, as many global accounting bodies perform multiple exam sessions each year.
Post Qualification Course in Information Systems Audit
ICAI, beyond CA Final, has revamped the Post Qualification Course in Information Systems Audit. Earlier held twice a year in June and December, this assessment test will now be carried in February, June, and October, further boosting accessibility to members.
CA. Charanjot Singh Nanda, President of ICAI, remarked on the decision, outlining the significance of this shift for the students and members of the institute.
“These epoch-making decisions will significantly benefit both students and members, offering them enhanced opportunities for success. This move marks a new era in the way we support and guide our future Chartered Accountants. ICAI is working 24/7 for the growth of its members and students. This historic decision will ensure that both students and professionals have abundant opportunities to excel in their careers,” he articulated. Remarking on the decision, CA. Charanjot Singh Nanda, President of ICAI, outlined the significance of this change for the students and members of the institute.
Check out the official announcement: https://www.icai.org/post/prc-ca-final-to-be-held-thrice-a-year
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