Conducting of CA Exams
All activities connected with conduct of examinations by the Institute of Chartered Accountants of India and the Institute of Cost Accountants of India including setting of papers, valuation, pass percentage, declaration of results etc. are undertaken by the Institutes themselves. Accordingly, Central Government has no role to play in determining pass percentage etc. of these exams.
This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today. (Source- PIB)
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ABAH SIR, I THINK THAT YOU ARE THE ONLY ONE WHO KNOWS EVERY THING & PERFECT PERSON IN THIS WORLD. ABAH SIR, LANGUAGE IS FOR COMMUNICATION ONLY, ONCE INFORMATION IS CONVEYED PROPERLY, CHALTA HAI !
The english of some of the people commenting is really bad. Can’t understand half the comments. Others clearly lack common sense and some are talking like socialists.
I DO NOT UNDERSTAND, WHY OUR GOVT. IS BEHIND VARIOUS AUDITS IN VARIOUS TAXATION LAWS, VERIFYING THE SAME DATA AGAIN & AGAIN, THAT TOO IN THIS COMPUTER ERA. IN FACT, IN THIS COMPUTER ERA AUDIT FINDS NO MEANING. FURTHER WHAT AUDITOR CAN DO, IF ASSESSES DO NOT PROVIDE/FEED ALL DATA/RECORDS TO THE ACCOUNTANT OR COMPUTER.
ICAI EXAMINATION CAN NOT TEST/ENHANCE THE REAL INTELLIGENCE OR COMMON SENSE OF PERSONS VESTED BY THE GOD. I AM OF THE STRONG VIEW THAT ALL CLASS OF TAX PROFESSIONALS ARE NOT EXPERTS IN INDIAN TAX LAW PRACTICE. FURTHER, IF GOVT. EXPECT TOO MUCH INTELLIGENCE FOR TAX PRACTICE, WE HAVE TO PRESUME THAT INDIAN TAXATION LAW IS VERY COMPLICATED & INTELLIGENT PROFESSIONALS PLAN TAX LEAVING NOTHING TO THE GOVT.
There should be a limitation of foreign tour of CCM for both the institute and government should look at the financial aspect of both the institute. As regards to passing percentage, these should be based on institute’s criteria.
we can not presume that any curriculum is toughest one for only low pass percentage. Recently Teacher eligibility test organised by various states and syllabus of this test is only upto metric level, but pass percentage is only 3%. Msc, MA M PHIL and PHD students not succeeded to pass TET.
what business opportunity provide by icai bcz i seen that some chartered as they doing their own practices but they are not satisfied with their practices they looking for new business opportunity so what would be solution for that
As part of career guidance to youngster , I advise them to do do MBA from the next street corner institute which will fetch them a job equalling a CA . And thereafter it is for them to prove themselves . why waste time like a vagabond in doing CA . As a PG faculty in some institutes I saw project works by some articled clerks from the so called big 4 and was saddened !! And the English ( of some of the presidents and council members who have spent crores to reach there ) – I talks , they comes and we closes sort !!!
really capable only need to pass out, no need of any % idea, as tax payers or tax collectors trust their skills in accountancy standards, forget about their legal skills, they should not look legal skills in themselves that is not possible to get high level legal skills in themselves, just passing a LL.B degree cannot assure one’s legal abilities, one should know that way courts insist practice and standing in legal profession so it is true in every profession,
so one kind professional shd not dabble in another profession if he is to be respected;
appearing in examination is not a big guarantee that he has acquired appropriate skill, but some appreciation only of that branch!
But this is d end result.Will ICAI take note –
CAG Report Exposes Shocking Carelessness And Blunders By CAs
The Comproller & Auditor General of India (CAG) has issued a report No. 32 of 2014 setting out the results of the performance audit of “Appreciation of Third Party (Chartered Accountant) Certification in Assessment Proceedings of the Department of Revenue”.
The report makes for shocking reading because it exposes the utterly careless manner in which the Chartered Accountants have conducted audits and issued certificates in blatant disregard of all basic norms.
According to the CAG’s report, there has been short levy of taxes to the extent of Rs 2,813.11 crore in the 367 cases which were surveyed, as a result of wrong audit reports issued by CAs.
The report also points out that there are 616 cases where CAs have committed mistakes in allowance of exemption or deductions, charging of tax on book profit under Section 115JB, adoption of arm’s length price and reporting on cash payments exceeding Rs 20,000 per day.
The CAG report gives several illustrations of such carelessness and also provides the names and membership numbers of the CAs who have conducted the audit.
The report also laments that no action u/s 288 of the Act has been taken by the department against the erring CAs.
It may be recalled that the ITAT has recently inVijay V Meghani vs. DCIT (ITAT Mumbai) passed severe strictures against the CA profession for alleged falling standards. The Tribunal has also advised the ICAI to take action against erring members and to tackle the issue on a war footing.
In response to the criticism advanced by the ITAT, the ICAI had issued a stern response that the comments of the ITAT are “sweeping” and “not warranted”. The ICAI also assured that it would take steps to “expunge” the comments made by the ITAT.
Now, it requires to be seen what action the ICAI will take in the light of the scathing criticism of the CAG.
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I think low percentage never be matter for us because only those deserve this degree who think practically. At current scenario, after 12th class we have started the CA, we may be good in study but never think practically between this course. This time we think as a graduate person only get a good job. Assume we never make CA, due to low passing % in CA final. I have some ques for all of you. Are u dummy? R U not take ur articleship seriously? In Articleahip u have not seeming the real life and how its works. Or u not wanna to be serious about this course. After this knowledge, u can easily start a business if u want.
Now any person make a internal auditor if he has a competence to do that work
now think about it.
RATHER SPENDING MORE THAN HALF OF THE LIFE TIME FOR DOING CA, I FEEL IT IS BETTER TO WORK FOR AN RESEARCH INSTITUTION FOR FINDING MEDICINES TO CURE DREADED DECEASES PREVAILING ON DATE. THIS IS MORE WORTH THAN DOING CA TO GAIN POWER & MONEY ONLY.
WHY ONLY 2% RESULT TO TAKE THE POWER OF MAKING 2+2 = 5, THAT TO WITH THE RESTRICTION OF WORKING IN THE AREA OF TRADING ACCOUNTS ONLY. IS IT A MEDICAL COURSE ?
Why low % of CA Results?
1. Most of the students are not basic level knowledge (Specially Direct Entry scheme)Indian education standard is very poor compare with other country,
U G Students education is only for office boy level.
2.Entry level CPT is not good for CA Course because CPT Students have completed the course, but no knowledge about the common life i.e day to day life.
3.Most of the CA Students are not interested to joint him self, some body pushing to CA.
4. Most of the private coaching classes are misguide to students
5. There is no employment opportunity to CA Levels in india (His expected salary will not getting) More risk Low Return Compare with software areas.
6. Enrollment in CA Level is higher than that of 1990-2000 periods.
7. Most of the Students are ” No Time Management”
8. Question paper is so lenthy, Majority of students are not complted 100% questions only 70 to 75% completed , How to get 50-60% marks from problematic papers.
9. Finally Most of the rural level students are not wealth in the financial conditions.
even low pass percentage, there are lot of qualified CA who don’t deserve to be a CA.
CA and ICWA should remain independent associations. Reservation have no role to play in these associations. Quota system has destroyed our economy. People who get admission / job on the basis of quota are very irresponsible.
Best part of CA is that there is no reservation for sc and obc.. All are equal here ..I m general..
THE CA EXAMS SHOULD BE DAMN DIFFICULT BUT WE SHOULD BE ABLE TO PASS . WE LIKE IT THAT WAY AND WE ENJOY IT – CA FINAL STUDENT
One needs to appreciate that it is a professional exam and the quality and standard of professional knowledge and the professional exam can not be compromised for the sake of sheer percentage .Especially in new era of globalisation and cross border business environment.
It is difficult to comment what is coorect as there is a feeling that results and passing percentages are controlled.Who controls is never revealed.Even if it is not controlled that means 80 percent of the students are below average in India.This may not be correct.What are the reasons for low percentage . Only God knows.
Fewer Students are Passing the CA Final Exams, Why?
by Ashish K Mishra | Feb 17, 2010
The low pass percentage in the latest CA final exams is causing the supply of good chartered accountants to stay low
Call it a result of the economic downturn, the Satyam effect or simply turning off the tap by the Institute of Chartered Accountants of India (ICAI). The Chartered Accountancy final examination results touched a record low in the November 2009 attempt. The CA exam is clubbed into two groups of four subjects each. Of the 18,502 students who appeared for both groups, only 1,454 passed. That is a pass percentage of 7.86 percent. Now compare this with the November 2007 results; a time when the economy was rocking. Of the 8,654 students who appeared for both groups, 2,446 cleared the exam. That’s almost 28.26 percent.
That’s a striking fall in just two years. Most students who sat for the November 2009 final attempt have been pursuing the course for almost five years. So, when the results were announced on January 17, 2010, the usual euphoria was missing. At the Big Four — PricewaterhouseCoopers, Ernst & Young, KPMG and Deloitte — there were no exuberant mails from partners spelling out how brilliantly the articles had fared. Just to give you a sense, at one of the smaller firms, 21 articles took the exam and only one cleared.
So what went wrong? To start with, accounting was a tough paper, auditing very lengthy and all questions in all eight subjects were made compulsory. Till May 2009, one didn’t have to solve the entire paper. ICAI pushed the bar higher this time around. But, quite a few students are attributing their failure not to the question papers but to the economic downturn which has led to over supply of chartered accountants in the job market, implying that the results were controlled.
“A lot of companies stopped hiring. Even the ICAI which runs its own placement cell couldn’t place all the students enrolled with it,” says a student who didn’t want to be identified.
Uttam Prakash Agarwal, president of ICAI, rubbishes such claims. “ICAI is not controlling the results. Nobody has the right to spoil the future of students,” he says. “It is the cancer of coaching institutes. Students are being misguided by these institutes and think that they will take coaching for three months and qualify. They don’t even open my course material and have failed because they haven’t taken the exam seriously,” Agarwal adds.
But coaching institutes have been around for decades. Does that mean ICAI had been snoozing until now? Agarwal doesn’t agree. “The paper pattern was more practical this time,” he says. He feels this could also be the reason for the low pass percentage.
Many feel that this is where the larger problem with chartered accountancy as a professional course lies. Compared to other courses like Chartered Financial Analyst or even an MBA with a specialisation in Finance, which are fairly practical in their approach and assessment, chartered accountancy continues to concentrate a lot on ex post facto analysis and rote learning. “Let me just say that the demand for good accountants far outstrips the supply. The course gives a fair grounding of accounting, finance, tax and mathematics. But it could do a lot with what is currently relevant, in terms of applying the learning to actual situations, because the moment it is tested, people flounder,” says Bobby Parikh, Partner, BMR Advisors. ICAI currently doesn’t provide any such training and does little beyond distributing course materials, past years’ question papers and suggested answers.
Correction: This article has been updated. The CA exam is clubbed into two groups of four subjects each and not three as stated earlier.
This article appeared in Forbes India Magazine of 19 February, 2010