The Institute of Chartered Accountants of India (ICAI) has announced a major reform for aspiring Chartered Accountants. In a student-friendly move, ICAI will now conduct the CA Intermediate and Foundation course examinations thrice a year, starting from June 2024. Previously, these exams were held only twice annually.
This significant change aligns ICAI with global best practices, where accounting exams are offered more frequently. The new schedule provides students with increased flexibility and reduces the waiting period between attempts. Candidates who complete their course work can now appear for the exam sooner, without a long wait.
Here’s a breakdown of the new exam schedule:
- January
- May/June
- September
Previously, the gap between exams was six months. With the new system, this wait time is reduced to four months, offering students more opportunities to take the exam and potentially progress faster in their CA journey.
This reform is expected to benefit a large number of students. ICAI, with over 8.5 lakh students, is one of the largest accounting bodies globally. The upcoming May/June 2024 exam is expected to see a record enrollment of over 4.36 lakh students.
The decision to increase exam frequency was announced at the ICAI’s Managing Committee Members Meet held in Delhi on March 7, 2024. It is a welcome change for CA aspirants, and brings the Indian CA program closer to international norms.
It’s important to note that the CA Final exam will continue to follow the traditional biannual format. However, this change for the Foundation and Intermediate levels signifies a positive step towards a more adaptable and efficient examination system for aspiring Chartered Accountants in India.
Sir,
Bringing Reduction in gap of duration between the Examinations is a welcome measure.