ICAI To Conduct First Exam Under New Course in 2024, Check Details.

Under the New Scheme, the ICAI will conduct the foundation examination in June 2024, followed by the intermediate and final examinations in May 2024.

In accordance with International Education Standards and National Education Policy, 2020 (NEP), the Institute of Chartered Accountants of India (ICAI) has developed the New Scheme of Education and Training. A foundation examination under the New Scheme will be conducted in June 2024, followed by an Intermediate and Final examination in May 2024 under the New Scheme. Based on information shared by the ICAI, "The curriculum of the New Scheme of Education and Training has been designed to build globally ready professionals by equipping aspiring Chartered Accountants with the requisite competencies. The course will inculcate enriched learning methodologies, cogent and holistic skill assessment and effective and focussed practical training, industry orientation and multidisciplinary approach."

New Scheme's key features are as follows:

• There is an option to complete simultaneous and focused practical training for two years. This industrial training period will be exam-free and conducted for nine to twelve months. This training can also be completed at the end of the practical training period.  
•  A self-paced online course provides necessary industry orientation through technology-enabled learning. 
• As a final level requirement, a multidisciplinary case study with strategic management is conducted. This paper assesses integrating professional knowledge and skills acquired through practical experience in different subject areas. Aspiring chartered accountants will be evaluated on their higher-order thinking skills and overall professional competence in this open book and case study-based paper.  
• To hone the analytical skills of aspiring Chartered Accountants, case scenario/study-based MCQs for 30 marks are used at the Intermediate and Final levels.  
• In the Final level, core subjects related to ethics and information technology are incorporated into the curriculum. 
• Developing an international curriculum aligns with the government's goal of internationalizing higher education.