ICAI has recently proposed a new scheme of education and training for the CA Course. The newly revised scheme of education has recommended various changes in all three CA exams and the practical training of three years. The new changes will help Chartered Accountants to handle and compete with the market globally.

In the proposed CA new scheme 2023, there will be:

• 4 Subjects in CA Foundation from 6 subjects.
• 6 Papers in CA Intermediate
• 6 Papers in CA Final exams.

Some papers are merged, and some are removed. Moreover, the CA articleship period is also reduced from 3 to 2 years.

There are also many changes in the eligibility, registration validity, syllabus, subjects, paper pattern, passing criteria, exemptions, training leaves, and leaving the CA course.

For now, the new scheme of education and training is in the draft and waiting for approval and amendments. And ICAI has invited suggestions by the concerned members of the society for their suggestions.

So, in this article, you will get everything about the ICAI proposed new scheme of education and training 2023 and the comparison between the old and new schemes.

ICAI New Course 2023: Proposed Scheme

In this proposed scheme a student would be taking 42 months to become a Chartered Accountant. Here are the details for each course and training for the CA Course under the new scheme.

CA Foundation Course

At present there is no criteria for a number of attempts in the CA Foundation course. Hence, students can give any number of attempts. Also, the CA Foundation registration validity can also be revalidated multiple times.

But in the proposed scheme of education and training, students can register after the 10th, and the CA Foundation registration is valid for four years. Moreover, students cannot further revalidate their foundation registration after those 4 years.

Also, now there will be no cut-off dates of January 1 and July 1 for the CA Foundation registration. This will enable ICAI to conduct three exams in a year.

CA Foundation Papers and Subjects

At present CA Foundation syllabus includes 6 Subjects and 4 papers. But according to the new scheme, ICAI has removed 2 subjects i.e. Business Correspondence & Reporting and Business & Commercial Knowledge.

CA Foundation Passing Criteria

The ICAI has also made some changes in the CA Foundation exam pattern. In the new scheme, students have to get 50% marks to crack the CA Foundation exams, and there will be a negative marking of .25 for every wrong MCQ answer.

CA Intermediate Course under New Scheme

CA Intermediate Eligibility

The eligibility criteria for the CA Intermediate course are the same as before. However, to appear in the exams, the direct entry route students must undergo an 8-month study period.

CA Intermediate Registration Validity

The validity of the CA Intermediate registration is now for 5 years as against four years. And CA Intermediate students can revalidate their registration form only once with the prescribed fees.

CA Intermediate Subjects

Now, there will be only 6 papers in the CA Intermediate course and not the 8 papers. The changes in the CA Intermediate subjects proposed by the ICAI are:

• Paper 1 and 5 are merged into one, and one paper that is – Advanced Accounting.

• Enterprise Information Systems is removed from paper 7, and Economics for Finance is removed from paper 8. The remaining part is merged in paper 6 as Financial management and strategic management (50 marks + 50 marks).

• Paper 2 of corporate law will cover the companies act entirely. Its portion of Business law will be covered at the CA Foundation level.

Now, there will be 2 groups of 3 papers each.

CA Intermediate Passing Criteria

The passing criteria for the CA Intermediate exams will also change. So, there will be 30% MCQ-based questions in all the 6 papers. Furthermore, the negative marking of .25 will deduct for every wrong answer.

Exemption Criteria for CA Intermediate

After the new scheme, if you get an exemption in any paper, then the exemption will be permanent for that paper. That means the ICAI will treat the exempted papers as permanently passed. However, you need to clear the rest of the papers with 50% marks.

CA Final Course under New Scheme of Education and Training

CA Final Eligibility and Registration

To become eligible to register for the CA Final course, students have to pass both groups of CA Intermediate exams and complete the ICITSS training.

However, to appear in the CA Final exams, students need to:

• Complete Advanced ICITISS Course
• Complete 6 month study period after the practical training is over.
• Crack all the 4 self-paced modules.

The CA Final registration is valid for 10 years. Aspirants can revalidate their registration after 10 years with the prescribed fee.

CA Final Subjects under new CA Curriculum

In the proposed scheme of education and training, ICAI has reduced the CA Final papers from 8 to 6. Now, there are 2 groups that will include 3 papers each.

Major changes done in the CA Final Subjects are:

• Subjects of papers 4 and 5 will be removed and included in the self-paced modules.
• Now, there will be no options in Paper 6. It will be a Multi-disciplinary case study with Strategic Management
• Elective subjects such as risk management, and financial services and capital markets are now part of the Set C of the self-paced modules.

CA Final Exam Pattern

Like CA Intermediate new course 2022, all CA Final papers will also have 30% MCQ-based questions. And, there will be a negative marking of 25% on every wrong objective answer.

Talking about the CA Final exemption rules, they are the same as CA Intermediate.