The new CA syllabus, which the Board of Studies has developed per the National Education Policy 2020, was introduced and launched by President Droupadi Murmu on July 1, 2023, which is the Institute of Chartered Accountants of India’s (ICAI) 75th foundation day, and will go into effect by June 2024. Currently, the ICAI has over 7.5 lakh CA students registered. It is said that the new syllabus would add multidisciplinary subjects including the Indian constitution, philosophy, and psychology. The ICAI has developed a new curriculum, for the CA Foundation, CA Intermediate, and CA Final levels of chartered accountant training.
Not only does the new CA syllabus seek to develop global professionals, but it also wishes to move away from rote memorization and towards a solid practical application-based approach to learning.
In the new program, the ICAI has also established self-paced digital courses to cater towards working students who can have access to the ICAI study material and become certified at their own pace. In addition to this, the articleship period has been reduced from three years to two years under the new curriculum. Also, a CA candidate will now be allowed only 12 days of vacation annually. ICAI currently allows 156 days of leave during the three-year CA articleship period, with a 180-day maximum. The ICAI also intends to expand the business and accounting courses that will be introduced in classes 11 and 12.
The first foundation exam under the new scheme will be held in June 2024 and the first intermediate and final exams would be taken in May 2024.
Following the current plan, the last foundation examination will take place in December 2023. Additionally, the last intermediate and final exams under the current system will take place in November 2023.