Over the years, the Institute of Chartered Accountants of India (ICAI) has made several changes to the CA Course. Changes were made across the three levels in 2017, namely CA Foundation, CA Intermediate, and CA Final, and again the new scheme was announced by ICAI in June 2022, which is likely to be implemented by May 2024, as recently the ICAI official tweeted that the new course will not be implemented from November 2023.
Through this article, we will share what changes ICAI is likely to make soon to the CA New syllabus and more!
What Is the New Syllabus of CA?
The new course content will be altered to align with the International Curriculum so that students pursuing CA can become global experts in the upcoming years. The changes have been made in accordance with the New Education Policy and focus more on conceptual application than rote learning. Technical skills like artificial intelligence (AI), data analytics, big data, data science, etc. will be taught to CA students.
However, ICAI has made some major changes to the syllabus. but it has not shared the syllabus yet.
Last year a presentation was shared by the ICAI on its official website and a few changes regarding syllabus and articleship were also mentioned:
Below are the changes that the ICAI shared in their presentation:
| S.NO | Level of Course | Number of Subjects Before Changes | Number of Subjects After Changes |
| 1. | CA Foundation | 6 Subjects | 4 Subjects |
| 2. | CA Intermediate | 8 papers (4 in each group) | 6 papers (3 in each group) |
| 3. | CA Final | 8 papers (4 in each group) | 6 papers (3 in each group) |
- The period for Articleship has been reduced from 3 to 2 years. ·
- Candidates can also go for industrial training in the last year of their articleship for a period of nine to 12 months.
- The ICAI has also announced that stipends will be increased by 100%, as many students had complained that the stipend is quite low.
- The ICAI has reduced leaves to 12 days for a year, which will be 24 days for 2 years.
What Is the Syllabus of ICAI CA Final course?
CA Final examination is the last of the three levels required to become a CA. The candidates are eligible to give CA Final after they have passed both the groups of CA Intermediate and completed 2 years of articleship.
The ICAI has not yet disclosed the new syllabus. Let’s discuss the subjects and eligibility. and passing criteria.
Subjects under CA Final
The ICAI will reduce the number of papers in the CA Final Examination from eight to six.. So, there will be 2 groups of 3 papers each. The candidate will give only 5 papers; as paper-4 and paper-5 namely Corporate and Economic Laws, Strategic Cost Management, and Performance Evaluation, will be removed and added to the self-paced modules.
The multidisciplinary case study will be integrated with strategic management and made compulsory.
Below will be the subjects in the new scheme:
a) Paper-1 : Financial Reporting
b) Paper-2 : Advanced Financial Management
c) Paper-3 : Advanced Auditing & Professional Ethics
d) Paper-4: Direct Tax Laws and International Taxation
e) Paper-5 : Indirect Tax Laws
f) Paper-6: Integrated Business Solution ( Multidisciplinary case study with strategic management )
Eligibility Criteria for CA Final
Before beginning the CA Final 2023 registration procedure, candidates must confirm that they meet the ICAI’s eligibility. The criteria that applicants must fulfill before submitting their application are listed below.
- A candidate must pass both groups of the CA Intermediate examination and complete the Integrated Course on Information Technology and Soft Skills.
- The validity of registration is 10 years, and it can be revalidated with a certain fee.
- In order to be eligible for the final exam, the candidates have to score at least 50% in each module stated above.
- The candidate should have completed the Advanced ICITISS course (IT and MCS) and must have completed six months of practical training.
Passing Criteria for CA Final
- CA Final exemptions are identical to those for CA Intermediate where exemption of paper(s) is allowed for 3 immediate attempts if a student scores 60% or more in the paper(s) in one attempt, and if the student scores 50% in the remaining paper individually, then the exempted paper(s) will be treated as permanently passed.
- Each paper will be 70% descriptive and 30% MCQ-based, with 25% being the negative marking for wrongly answered MCQ.
What Is the Syllabus of ICAI CA Intermediate course?
The syllabus under the new scheme for the CA intermediate course has still not been updated, but ICAI has disclosed the number of subjects, eligibility criteria, and passing criteria.
Instead of eight papers, the ICAI will hold only six. Paper-1 and paper-5 have been combined, namely Accounting and Advanced Accounting. Enterprise Information Systems and Economics for Finance have also been removed from paper-7 and paper-8. Strategic Management and Financial Management have been combined in paper-6 for 50 marks each.
The following will be the subjects as per the new scheme:
a) Paper-1: Advanced Accounting
b) Paper-2 : Corporate Laws
c) Paper-3: Cost and Management Accounting
d) Paper-4 : Taxation’
e) Paper- 5: Auditing and Code of Ethics
f) Paper-6A : Financial Management
g) Paper-6B: Strategic Management
Eligibility Criteria for CA Intermediate
- The students who have passed the 12th board examination and CA Foundation are eligible for CA Intermediate or the Commerce Graduates/ Post-Graduates with a minimum of 55%, and for other Graduates/ Post-Graduates with a minimum of 60% or the candidates who have passed the intermediate level of Institute of Company Secretaries of India and Institute of Cost Accountants of India.
- The registration for CA Intermediate will be valid for five years instead of four and revalidation can only be done once with a prescribed fee.
- The students also must complete an 8-month study period.
Passing Criteria for CA Intermediate
- All 6 papers will consist of 30% MCQ-based questions, and a negative marking of 25% will be deducted for each wrong answer.
- A candidate will be declared passed if he or she receives 40% individually and 50% in aggregate.
- Exemption of paper(s) is allowed for 3 immediate attempts if a student scores 60% or more in the paper(s) in one attempt.
- If a student scores 50% on the remaining papers individually, then the exempted paper(s) will be treated as permanently passed.
- Students will also have the option to surrender the exempted papers after three attempts.
CA New Syllabus 2023 Subjects
The ICAI proposed the new scheme in June 2022 and a few changes have been made to the subjects present in the CA foundation, CA intermediate, and CA final.
The following are the changes made in all three levels:
- Subjects under CA Foundation
The new scheme comprises only 4 papers and 4 subjects as the 2 subjects namely Business & Commercial Knowledge and Business Correspondence & Reporting have been removed from the syllabus
The following are the subjects proposed by ICAI:
- Paper-1 : Accounting
- Paper- 2: Business Laws
- Paper-3: Quantitative Aptitude ( Business Mathematics, Logical Reasoning, and Statistics)
- Paper-4: Business Economics
2. Subjects under CA Intermediate
There will now be only 6 papers instead of 8. Paper-1 and paper-5 have been combined, namely Accounting and Advanced Accounting. Enterprise Information Systems and Economics for Finance have also been removed from paper-7 and paper-8. Strategic Management and Financial Management have been combined in paper-6 for 50 marks each.
The following will be the subjects as per the new scheme:
- Paper-1: Advanced Accounting
- Paper-2: Corporate Laws
- Paper-3: Cost and Management Accounting
- Paper-4 : Taxation
- Paper- 5: Auditing and Code of Ethics
- Paper-6A: Financial Management
- Paper-6B: Strategic Management
3. Subjects under CA Final
ICAI was reduced from eight to six papers in the CA Final Examination. The candidate will have to give only 5 papers, as paper-4 and paper-5 namely Corporate and Economic Laws and Strategic Cost Management and Performance Evaluation will be removed and added to the self-paced modules. Paper-6 will not consist of any option where it will be a case study combined with Strategic Management.
Below will be the subjects in the new scheme:
- Paper-1: Financial Reporting
- Paper-2: Advanced Financial Management
- Paper-3 : Advanced Auditing & Professional Ethics
- Paper-4: Direct Tax Laws and International Taxation
- Paper-5: Indirect Tax Laws
- Paper-6: Integrated Business Solution ( Multidisciplinary case study with strategic management )
Risk Management, Capital Markets, and Financial Services will now be part of the Set-C of the self-paced modules.
FAQs: CA New Syllabus
1. Is the CA syllabus going to change?
Yes, the announcement was made by ICAI in June 2022. A new education and training program for CAs has recently been proposed. The three levels of the CA Course and the three years of practical training have undergone some changes under the revised educational plan.
2. When will CA’s new syllabus start?
According to ICAI officials, the new CA syllabus is expected to be implemented in May 2024.
3. When CA New Syllabus Applicability
According to an announcement made by ICAI on February 8, 2023, the new course won’t be applicable starting in November 2023, and students must be appearing under the existing scheme.
Wrapping up
Now that you have more clarity about the New Scheme of ICAI, which is likely to be put into practice from May 2024, you can be well prepared for the upcoming changes, or you must share it with your friends and family so that they will be aware of the changes in CA new Syllabus
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