The Institute of Chartered Accountants (ICAI) has announced that the new CA course will be implemented from July 1, 2022. Mangesh Kinre, chairman of the Board of Studies (Operations) of ICAI, and Vishal Doshi, chairman of the Board of Studies (Academics) of ICAI confirmed that the Gazette notification would be made soon and there will be no parallel exam of old and new syllabi thereafter. This means that both old and new syllabi will not be tested at the same time.
According to the senior CAs, the new CA course has received approval from the Ministry and will be launched on July 1, 2022. The examination to be held in May 2024 will be organised according to the new course. The new course will have two years of articleship after passing both the groups of Inter and necessary classroom training. Students will be able to appear for the final examination after 6 months from the end of the articleship of two years.
The announcement was made at a two-day national conference held by the CA Students’ Association and CA Indore Branch. Jai Chhera from Surat highlighted in his speech that success depends on thinking big. Manoj Phadnis, former national president of ICAI, emphasized that as an auditor, their responsibility is more towards the person or organisation who has relied on the report verified by them than their client.
Furthermore, according to ADGP Varun Kapoor, mobile devices have become the primary medium of cybercrime and out of all the crimes happening in the world, cybercrime is the most happening and dangerous crime. The danger is not directly visible, making it difficult for people to be alert. Based on research, it can be said that about 50% of our time is spent on mobile.
Overall, the ICAI’s new CA course will modernize and simplify the current process, while also addressing the current challenges and demands of the accounting industry. With the implementation set to take place in July 2022, aspiring CAs will have to adapt to the new changes.
