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The Institute of Chartered Accountants of India (ICAI) has brought forward significant announcements on the 24th of August, 2023. These focus on the exemption(s) from appearing in specific papers or entire groups of the Chartered Accountancy Examinations under their newly implemented Scheme of Education and Training, set to take effect from May 2024.

ICAI’s New Scheme of Education and Training

The New Scheme of Education and Training by ICAI came into play on 1st July 2023. The examinations under this scheme, at both Intermediate and Final levels, are scheduled to commence from May 2024.

Exemptions Under New Scheme for CA Final & Intermediate Examination

The Council of the Institute has made some decisions regarding the exemptions under the New Syllabus:

Rules for CA Exams

1. CA Final Examination:

  • Paper-wise Exemption Based on Performance: Candidates who have achieved a score of sixty percent or more in a paper or papers from the Old/Existing Scheme can continue to enjoy their exemption for the corresponding paper(s) in the New Scheme. This exemption will be based on the existing criteria for awarding exemptions.
  • Examination Details: If a candidate has cleared only one of the two groups under the Existing Scheme, they will be eligible for an exemption in that particular group. However, they must appear and clear the remaining group or paper(s) to pass the Final Examination under the New Scheme.
  • Note on Self-Paced Online Modules: Final course students set to appear for the May 2024 Examination under the New Scheme must complete Self-Paced Online Modules after passing, but before applying for membership. Yet, students shifting from the Final Old Scheme to the Final New Scheme are relieved from taking the Self-Paced Online Module SET C and SET D.

2. CA Intermediate Examination:

  • Paper-wise Exemption Based on Performance: Similar to the Final Examination, candidates who’ve scored sixty percent or more in certain papers of the Old/Existing Scheme are granted an exemption for the corresponding paper(s) under the New Scheme.
  • Examination Details: The Council has introduced the “Unit” Scheme for candidates who had cleared one of the Groups under previous Intermediate Examinations. These candidates can now complete the Intermediate Course (New) Syllabus as per the latest guidelines.

Full Text of the ICAI Announcement is as below:-

THE INSTITUTE CHARTERED ACCOUNTANTS OF INDIA

ANNOUNCEMENT

24th August 2023

Exemption(s) from appearing in paper(s) or Group of Chartered Accountancy Examinations under the New Scheme of Education and Training w.e.f. May 2024 Examination

New Scheme of Education and Training of the Institute of Chartered Accountants of India has been implemented with effect from 1st July 2023. The examination at Intermediate and Final levels under the New Scheme of Education and Training will be held with effect from May 2024 Examination.

The Council of the Institute has decided to grant exemptions under New Syllabus approved by it for Intermediate Examination (under sub-regulation (4) of regulation 28G of the Chartered Accountants Regulations, 1988) and for Final Examination (under clause (v) of regulation 31 of the Chartered Accountants Regulations, 1988) to existing students for papers passed by them under the Old/Existing Scheme as follows: –

I. Final Examination:

(i) Paper-wise exemption on the basis of securing sixty per cent or more marks:

The Council decided (under sub-regulation (5) of regulation 38D of the Chartered Accountants Regulations, 1988) to continue to award exemption in a paper or papers to a candidate, granted earlier under Old/Existing Scheme (by virtue of having secured a minimum of sixty percent marks in one or more papers in a Group/s as per the existing criteria for grant of exemption), for the unexpired chance(s) of the exemption in the corresponding paper(s) approved by the Council under New Scheme as given below:

Paper(s) under Existing Scheme

Corresponding paper(s) under New Scheme
Paper 1: Financial Reporting Paper 1: Financial Reporting
Paper 2: Strategic Financial Management Paper 2: Advanced Financial Management
Paper 3: Advanced Auditing and Professional Ethics Paper 3: Advanced Auditing, Assurance and Professional Ethics
Paper 4: Corporate and Economic Laws Self-Paced Online Module SET A: Corporate and Economic Laws
Paper 5: Strategic Cost Management and Performance Evaluation Self-Paced Online Module SET B: Strategic Cost & Performance Management
Paper 6: Elective Paper Paper 6: Integrated Business Solutions
Paper 7: Direct Tax Laws and International Taxation Paper 4: Direct Tax Laws & International Taxation
Paper 8: Indirect Tax Laws Paper 5: Indirect Tax Laws

(ii) Details of papers/ group in which candidates are required to appear and pass in Final Examination under New Scheme:

The Council decided that a candidate who has passed in any one but not in both the groups of the Final Examination under Existing Scheme shall be eligible for exemption in that particular group and shall be required to appear and pass in the remaining group / paper(s) in order to pass the Final Examination under New Scheme as given below:

Group passed under Existing Scheme

Papers passed under
Existing Scheme
Corresponding exemption under New Scheme Papers required to be passed under New Scheme
Group-I Paper 1: Financial Reporting Paper 1: Financial Reporting Paper 4: Direct Tax Laws & International Taxation

Paper 5: Indirect Tax Laws

Paper 6: Integrated Business Solutions

Self-Paced Online Module SET B: Strategic Cost & Performance Management*

Paper 2: Strategic Financial Management Paper 2: Advanced Financial Management
Paper 3: Advanced Auditing and Professional Ethics Paper 3: Advanced Auditing, Assurance and Professional Ethics
Paper 4: Corporate and Economic Laws Self-Paced Online Module SET A: Corporate and Economic Laws
Group-II Paper 5: Strategic Cost Management and Performance Evaluation Self-Paced Online Module SET B: Strategic Cost & Performance Management Paper 1: Financial Reporting

Paper 2: Advanced Financial Management

Paper 3: Advanced Auditing, Assurance and Professional Ethics

Self-Paced Online Module SET A: Corporate and Economic Laws*

Paper 6: Elective Paper Paper 6: Integrated Business Solutions
Paper 7: Direct Tax Laws and International Taxation Paper 4: Direct Tax Laws & International Taxation
Paper 8: Indirect Tax Laws Paper 5: Indirect Tax Laws

* Final Course Students appearing in May 2024 Examination under New Scheme may qualify Self-Paced Online Modules, as applicable, after passing May 2024 Examination but before applying for membership. Thereafter, the candidate would be eligible for subsequent examination only after qualifying Self-Paced Online Modules, as applicable.

Students who have appeared in Final Old/ Existing Scheme and converting to Final New Scheme are exempted from appearance in Self-Paced Online Module SET C and SET D.

II. Intermediate Examination:

(i) Paper-wise exemption on the basis of securing sixty per cent or more marks:

The Council decided (under sub-regulation (7) of regulation 37D of the Chartered Accountants Regulations, 1988) to continue to award exemption in a paper or papers to a candidate, granted earlier under Old/Existing Scheme (by virtue of having secured a minimum of sixty percent marks in one or more papers in a Group/s as per the existing criteria for grant of exemption), for the unexpired chance(s) of the exemption in the corresponding paper(s) approved by the Council under New Scheme as given below:

Paper(s) under Existing Scheme Corresponding paper(s) under New Scheme
Paper 1: Accounting Paper 1: Advanced Accounting
Paper 2: Corporate and Other Laws Paper 2: Corporate and Other Laws
Paper 3: Cost and Management Accounting Paper 4: Cost and Management Accounting
Paper 4: Taxation Paper 3: Taxation
Paper 5: Advanced Accounting Paper 1: Advanced Accounting
Paper 6: Auditing and Assurance Paper 5: Auditing and Ethics
Paper 7: Enterprise Information Systems & Strategic Management Paper 6: Financial Management and Strategic Management
Paper 8: Financial Management & Economics for Finance Paper 6: Financial Management and Strategic Management

(ii) Details of paper/unit/group in which candidates are required to appear and pass in Intermediate Examination under New Scheme:

The Council also approved the “Unit” Scheme for those candidates who had completed one of the Groups under the erstwhile Intermediate Examination under the syllabus as specified in paragraph 2A of Schedule B to the Chartered Accountants Regulations, 1988 (held in November 1994 or thereafter) or Professional Education (Examination II) or Professional Competence Examination (PCE), or Intermediate (Professional Competence) Examination, or Integrated Professional Competence Examination or Intermediate (IPC) Examination or Intermediate Examination and are desirous of completing the Intermediate Course (New) Syllabus as given below:

Details of
paper/unit/group
passed
Papers passed
under
Old/Existing
Scheme
Corresponding exemption under New Scheme
Papers required to be passed under New Scheme at Intermediate
Self-Paced Online Modules to be passed before appearing in Final Examination
I
Group-I passed in Intermediate under Paragraph 2A of Schedule ‘B’ (i.e. November 1994 or later) or Professional Education Examination–II or Professional Competence Examination
Paper 1: Advanced Accounting/ Accounting
Group I Paper 1: Advanced Accounting
Unit 1
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:
Specialization (elective)
and
SET D: Multi-
disciplinary
(elective)
Group I Paper 3: Taxation
Group II Paper 4: Cost and Management Accounting
Group II Paper 6: Financial Management and Strategic Management
Paper 2: Auditing/ Auditing and Assurance
Group II Paper 5: Auditing and Ethics
Paper 3: Corporate and Other Laws/ Business and Corporate Laws/ Law, Ethics and Communication
Group I Paper 2: Corporate and Other Laws
IIA
Group-I passed in Intermediate under Paragraph 2A of Schedule ‘B’ (i.e. November 1994 or later) or Professional Education Examination–II or Professional Competence Examination and subsequently passed
Unit 6 in Integrated Professional Competence Examination/
Paper 1: Advanced Accounting/ Accounting
Group I Paper 1: Advanced Accounting
Unit 1A
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:
Specialization (elective)
Group I Paper 3: Taxation
Group II Paper 4: Cost and Management Accounting
Paper 2: Auditing/ Auditing and Assurance
Group II Paper 5: Auditing and Ethics
Paper 3: Corporate and Other Laws/ Business and Corporate Laws/ Law, Ethics and
Group I Paper 2: Corporate and Other Laws
Intermediate (Integrated Professional Competence) Examination
Communication
and
SET D: Multi-
disciplinary
(elective)
Paper 7: Information Technology and Strategic Management
Group II Paper 6: Financial Management and Strategic Management
IIB
Group-I passed in Intermediate under Paragraph 2A of Schedule ‘B’ (i.e. November 1994 or later) or Professional Education Examination–II or Professional Competence Examination and subsequently passed
Unit 6A in Intermediate Examination
Paper 1: Advanced Accounting/ Accounting
Group I Paper 1: Advanced Accounting
Unit 1A
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
either of
SET C:
Specialization
(elective)
or
SET D: Multi-
disciplinary
(elective)
Group I Paper 3: Taxation
Group II Paper 4: Cost and Management Accounting
Paper 2: Auditing/ Auditing and Assurance
Group II Paper 5: Auditing and Ethics
Paper 3: Corporate and Other Laws/ Business and Corporate Laws/ Law, Ethics and Communication
Group I Paper 2: Corporate and Other Laws
Paper 7:
Enterprise
Information
Systems &
Strategic
Management
Group II Paper 6: Financial Management and Strategic Management
Paper 8: Financial Management & Economics for Finance
III
Group-I passed in Intermediate under Paragraph 2A of Schedule ‘B’ (i.e. November 1994 or later) or Professional Education Examination–II or Professional Competence Examination and subsequently passed
Unit 4/4A in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate Examination
Paper 1: Advanced Accounting/ Accounting
Group I Paper 1: Advanced Accounting
Unit 1B
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:
Specialization (elective)
and
SET D: Multi-
disciplinary
(elective)
Group II Paper 6: Financial Management and Strategic Management
Paper 2: Auditing/ Auditing and Assurance
Group II Paper 5: Auditing and Ethics
Paper 3: Corporate and Other Laws/ Business and Corporate Laws/ Law, Ethics and Communication
Group I Paper 2: Corporate and Other Laws
Paper 3: Cost Accounting and Financial Management/Cost and Management Accounting
Group II Paper 4: Cost and Management Accounting
Paper 4: Taxation
Group I Paper 3: Taxation
IV
Group-II passed in
Intermediate under Paragraph 2A of Schedule ‘B’ (i.e. November 1994 or later) or Professional Education Examination–II
Paper 4: Cost
Group II Paper 4:
Unit 2
SET A: Corporate
Accounting/ Cost Accounting and Financial Management
Cost and Management Accounting
Group I Paper 1: Advanced Accounting
Group I Paper 2: Corporate and Other Laws
Group II Paper 5: Auditing & Ethics
Group II Paper 6: Financial Management and Strategic Management
and Economic
LawsSET B: Strategic Cost & Performance Managementeither of
SET C:
Specialization
(elective)orSET D: Multi-
disciplinary
(elective)
Paper 5: Income Tax and Central Sales Tax
Paper 6: Organisation & Management and Fundamentals of Electronic Data Processing/ Information Technology
V
Group-II passed In Professional Competence Examination
Paper 4: Cost Accounting and Financial Management
Group II Paper 4: Cost and Management Accounting
Unit 2A
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:
Specialization (elective)
and
SET D: Multi-
disciplinary
(elective)
Group I Paper 1: Advanced Accounting
Group I Paper 2: Corporate and Other Laws
Group II Paper 5: Auditing and Ethics
Paper 5: Taxation
Group I Paper 3: Taxation
Paper 6: Information Technology and Strategic Management
Group II Paper 6: Financial Management and Strategic Management
VI
Group-II passed in Intermediate under Paragraph 2A of Schedule ‘B’ (i.e. November 1994 or later) or Professional Education Examination–II and subsequently passed
Unit 5/5A in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate Examination
Paper 4: Cost Accounting/ Cost Accounting and Financial Management
Group II Paper 4: Cost and Management Accounting
Unit 2B
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
either of
SET C:
Specialization
(elective)
or
SET D: Multi-
disciplinary
(elective)
Group I Paper 2: Corporate and Other Laws
Group II Paper 6: Financial Management and Strategic Management
Paper 5: Income Tax and Central Sales Tax
Group I Paper 3: Taxation
Paper 6: Organisation & Management and Fundamentals of Electronic Data Processing/ Information Technology
Paper 5: Advanced Accounting
Group I Paper 1: Advanced Accounting
Paper 6: Auditing and Assurance
Group II Paper 5: Auditing and Ethics
VII
Group-II passed in Professional Competence Examination and subsequently passed
Unit 5/5A in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate Examination
Paper 4: Cost Accounting and Financial Management
Group II Paper 4: Cost and Management Accounting
Unit 2C
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:
Specialization (elective)
and
SET D: Multi-
disciplinary
(elective)
Group I Paper 2: Corporate and Other Laws
Paper 5: Taxation
Group I Paper 3: Taxation
Paper 6: Information Technology and Strategic Management
Group II Paper 6: Financial Management and Strategic Management
Paper 5: Advanced Accounting
Group I Paper 1: Advanced Accounting
Paper 6: Auditing and Assurance
Group II Paper 5: Auditing and Ethics
VIII
Group-II passed in Intermediate under Paragraph 2A of Schedule ‘B’ (i.e. November 1994 or later) or Professional Education Examination–II and subsequently passed
Unit 7/7A in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate Examination
Paper 4: Cost Accounting/ Cost Accounting and Financial Management
Group II Paper 4: Cost and Management Accounting
Unit 2D
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
either of
SET C:
Specialization
(elective)
or
SET D: Multi-
disciplinary
(elective)
Group II Paper 5: Auditing and Ethics
Group II Paper 6: Financial Management and Strategic Management
Paper 5: Income Tax and Central Sales Tax
Group I Paper 3: Taxation
Paper 6: Organisation & Management and Fundamentals of Electronic Data Processing/ Information Technology
Paper 1:
Accounting
Group I Paper 1: Advanced Accounting
Paper 2: Business Laws, Ethics and Communication/ Corporate and Other Laws
Group I Paper 2: Corporate and Other Laws
IX
Group-II passed in Professional Competence Examination and subsequently passed Unit 7/7A in Integrated
Paper 4: Cost Accounting and Financial Management
Group II Paper 4: Cost and Management Accounting
Unit 2E
SET A: Corporate and Economic Laws
SET B: Strategic
Group II Paper 5: Auditing and Ethics
Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate Examination
Paper 5: Taxation
Group I Paper 3: Taxation
Cost &
Performance Management
SET C:
Specialization (elective)
and
SET D: Multi-
disciplinary
(elective)
Paper 6: Information Technology and Strategic Management
Group II Paper 6: Financial Management and Strategic Management
Paper 1:
Accounting
Group I Paper 1: Advanced Accounting
Paper 2: Business Laws, Ethics and Communication/ Corporate and Other Laws
Group I Paper 2: Corporate and Other Laws
X
Group-I passed in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate Examination
Paper 1:
Accounting
Group I Paper 1: Advanced Accounting
Unit 2D
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:
Specialization (elective)
and
SET D: Multi-
disciplinary
(elective)
Group II Paper 5: Auditing and Ethics
Group II Paper 6: Financial Management and Strategic Management
Paper 2: Business Laws, Ethics and Communication/ Corporate and Other Laws
Group I Paper 2: Corporate and Other Laws
Paper 3: Cost Accounting and Financial Management/Cost and Management Accounting
Group II Paper 4: Cost and Management Accounting
Paper 4: Taxation
Group I Paper 3: Taxation
XIA
Group-II passed in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination
Paper 5: Advanced Accounting
Group I Paper 1: Advanced Accounting
Unit 3
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
SET C:
Specialization (elective)
and
SET D: Multi-
disciplinary
(elective)
Group I Paper 2: Corporate and Other Laws
Group I Paper 3: Taxation
Group II Paper 4: Cost and Management Accounting
Paper 6: Auditing and Assurance
Group II Paper 5: Auditing and Ethics
Paper 7: Information Technology and Strategic Management
Group II Paper 6: Financial Management and Strategic Management
XIB
Group-II passed in
Intermediate
Examination
Paper 5: Advanced Accounting
Group I Paper 1: Advanced Accounting
Unit 3
Group I Paper 2: Corporate and
Other Laws
Group I Paper 3: Taxation
Group II Paper 4: Cost and Management Accounting
SET A: Corporate and Economic Laws
SET B: Strategic Cost & Performance Management
either of SET C: Specialization (elective) or SET D: Multi-disciplinary (elective)
Paper 6: Auditing and Assurance
Group II Paper 5: Auditing and Ethics
Paper 7: Enterprise Information Systems & Strategic Management
Group II Paper 6: Financial Management and Strategic Management
Paper 8: Financial Management & Economics for Finance

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12 Comments

  1. hhhh says:

    intermediate CA group 2 given in may 2024
    cost was cleared before so appeared only for 2 papers of intermediaate II
    FINANcial management got 61 but audit only 36
    will i get exemption in Fm?

  2. Garima Dubey says:

    I have exemption in FR which I secured in nov22
    and now I also secured exemption in SFM in May 24 so I just want to know is validity of exemption and exam required to be given

  3. Aditi says:

    If a student is fail in group 1 accounting and has an exemption for all other 3 subjects . Also he has passed the inter group 2. What papers would he have to reappear under the new scheme?

  4. Mounika says:

    I have cleared group 1 CA Intermediate exam in 2017 nov, completed articleship also, now in new scheme in may 2014, for group 2 CA inter should I attempt 3 papers or 2 papers that is except cost and management accounting? because I have already cleared that subect in group 1

  5. Sudhir Kumar Mahato says:

    For Nov Attempt If I am appearing CA intermediate Exam
    I passed in Group 1 and i Got Exemption in both Audit and Eco + Fm So will that be called as both group pass under New Scheme?

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