The Institute of Chartered Accountants of India (ICAI) on March 7 announced a change in the pattern of CA Foundation and Inter exams. As per the new guidelines, the Foundation and Inter exam will be held thrice a year in in January, May/June, and September. Meanwhile, the CA Final exam will continue to follow the traditional biannual format. Till now, ICAI used to hold the CA Inter and Foundation exams twice a year. Candidates will now have three chances to take the CA foundation and inter exams in a year. The announcement was made at the ICAI's All India Managing Committee Members Meet (AIMCMM 2024) held in Kolkata. The change in pattern was also announced by Central Council Member (CCM) of ICAI, Dhiraj Khandelwal, on his official Twitter account. "Welcoming move by the ICAI to bring a beneficial change in favour of the CA student fraternity by introducing CA examinations thrice a year for CA Foundation and CA Inter level." "Further Updates shall be clarified by the ICAI soon,” the official added. Additionally, ICAI collaborated with the Comptroller and Auditor General (CAG) of India to jointly conduct a Certificate Course for Accountants of Panchayats and Municipal Bodies. The course is developed to make available skilled and trained accountants at the grassroots level to improve accounting of local-self government in India. To make the course inclusive, the eligibility is Class 12 pass and can be completed in a period of four months. The online course seeks to create pool of qualified accountants and provide opportunities to work as accountants in the panchayats and municipal bodies. The Institute has also formed a committee on 'AI in ICAI' to explore how AI can be leveraged for the professional development of students, member and employees, ICAI said while announcing the change in exam system. ICAI foundation exam is the first stage exam or the entry-level exam to become a Chartered Accountant in India. Candidates can take the CA foundation exam after qualifying Class 12 exam. CA Intermediate is the next or the second step after foundation exams. The CA intermediate stage consists of two groups of four subjects each. After clearing Foundation, a student becomes eligible to register for the CA Intermediate course. The CA final is the last step in becoming a CA. While the official websites - icai.org and icai.nic.in - have not yet updated the notice, it is expected to release there soon. Meanwhile, ICAI has elected Ranjeet Kumar Agarwal as their new President, who is replacing Aniket S Talati. Additionally, Charanjot Singh Nanda has been elected as Vice President for the Year 2024-25.
