ICAI New Scheme 2024
Introduction To ICAI New Scheme
The Institute of Chartered Accountants of India (ICAI) has introduced the ICAI New Scheme 2024, effective from 1st July 2023, as notified in the Gazette of India on 22nd June 2023. This scheme significantly revamps the Chartered Accountancy (CA) course, impacting all three levels: CA Foundation, CA Intermediate, and CA Final—bringing changes to the syllabus, registration validity, and passing criteria.
The curriculum has been streamlined with fewer subjects, shifting the focus to case studies and business scenarios for practical, real-world learning. The revised structure emphasizes skill development through updated practical training duration and industry-relevant applications.
Enhanced eligibility criteria further simplify progression through the course, ensuring better alignment with evolving industry needs. The icai new scheme equips aspiring Chartered Accountants with essential knowledge and practical expertise to excel in today’s dynamic business environment.
ICAI New Scheme 2024: Latest Updates
The New Scheme 2024 introduces major changes, including the consolidation and removal of several papers across all levels. Notably, the CA articleship duration is reduced from 3 years to 2 years, enabling quicker qualification as a Chartered Accountant.
Key updates include revised eligibility criteria, registration validity, syllabus structure, subjects, exam patterns, passing requirements, exemptions, and rules for training leaves and discontinuation. For a detailed overview, refer to the latest ICAI New Scheme 2024 Updates given in below table:
|
New Scheme Latest Update On ICAI |
|
|
ICAI CA Course Level |
New Scheme Changes |
|
CA Foundation |
4 Subjects From 6 Subjects |
|
CA Intermediate |
6 Papers (3 In Each Group) |
|
CA Articleship |
The period has been shortened from 3 years to 2 years. |
|
CA Final |
6 Papers (3 In Each Group) |
The ICAI New Scheme 2024 For Education and Training.
The CA Course under ICAI New Scheme 2024 has shortened the overall duration, providing a faster path to qualification while maintaining rigorous training and education standards.
Understanding the updated timeline is crucial for grasping the revised course structure and requirements.
|
The ICAI 2024 Education & Training New Scheme |
||
|
ICAI CA Course Level |
Current |
Proposed |
|
CA Foundation Registration/ Appear 10 + 2 |
Start |
Start |
|
CA Foundation Study Period |
4 Months |
4 Months |
|
CA Intermediate Study Period |
8 Months |
8 Months |
|
CA Articleship |
36 Months |
24 Months |
|
CA Final Study Period |
– |
6 Months |
|
Total CA Course Duration |
48 Months |
42 Months |
|
Work Experience for CoP |
– |
12 Months |
Benefits Of ICAI New Scheme Of Education & Training, 2024
The ICAI New Scheme opens up several doors to students who wish to become future Chartered Accountants. Reduced subjects for better clarity, laid emphasis on practical learning so that students can be job-ready, and lowered eligibility criteria make the path to becoming CA, more formal and less complex.
ICAI New Scheme Of Education: Old Scheme v/s New Scheme
ICAI Old Scheme:
- Registration for Foundation / Appear for 10+2: Students can register for the CA Foundation course after completing Class 10+2 examinations or its equivalent.
- Take the CA Foundation Exam: After a 4-month of study period, candidates are eligible for the CA Foundation exam.
- Study period for the Intermediate Exam: Once students pass the Foundation level, they can start studying for the CA Intermediate exam, which generally requires an 8-months study period.
- Articleship Training: Following the Intermediate exam, students enter a 3-year Articleship period, gaining practical experience under the mentorship of a qualified Chartered Accountant.
- Study for the Final Exam: After commencing their Articleship, candidates can begin studying for the CA Final examination.
Total Time to Achieve ICAI Membership: The complete journey to becoming a member of the Institute of Chartered Accountants of India (ICAI) spans around 48 months.
ICAI New Scheme:
- Registration for Foundation: Similar to the current scheme, students can register for the CA Foundation course after completing Class 10+2 examinations or its equivalent.
- Take the Foundation Exam: After a 4-month study period, candidates are eligible for the CA Foundation examination.
- Study for Intermediate Examination: Following the current scheme, students can start studying for the CA Intermediate exam, which generally requires an 8-months study period.
- Articleship: One of the key changes in the new scheme is the shortened articleship period. Upon passing the Intermediate Exam, students are now required to complete a 2-year articleship instead of the previous 3-year.
- Study for Final Examination: Following the articleship period, students can begin preparing for the CA Final examination, which currently requires 6 months of study.
- Total Period to Become ICAI Member: Considering the revised articleship duration and the reduced study period for the Final exam, the overall time needed to become an ICAI member under the new scheme is around 42 months.
Optional Business Accounting Certificate
The new CA curriculum offers an optional Business Accounting Certificate for students after passing the CA Intermediate Exam, combining self-learning modules and professional training, including the Integrated Course on Information Technology and Soft Skills (ICITSS) program.
ICAI New Scheme: The updated scheme reduces the time to qualify as a Chartered Accountant, streamlining the process while maintaining education quality and practical training standards. These changes reflect ICAI commitment to aligning with global benchmarks and equipping future CAs for successful professional careers.
CA Foundation New Syllabus 2024
Currently, the new CA Foundation syllabus includes 6 subjects and 4 papers. However, under the new scheme, ICAI New scheme has eliminated 2 subjects (i.e., Business Correspondence & Reporting (+) Business & Commercial Knowledge).
Subjects In CA Foundation’s New Syllabus 2024:
Paper 1: Accounting (100 marks)
Paper 2: Business Laws (100 marks)
Paper 3: Quantitative Aptitude (100 marks)
- Business Mathematics
- Logical reasoning
- Statistics
Paper 4: Business Economics (100 marks)
|
Proposed |
Current |
|
Paper 1: Accounting |
Paper 1: Principles and Practice of Accounting |
|
Paper 2: Business Laws |
Paper 2: Business Law and Business Correspondence and Reporting |
|
Paper 3: Quantitative Aptitude
|
Paper 3: Business Mathematics And Reasoning And Statistics |
|
Paper 4: Business Economics |
Paper 4: Business Economics And Business And Commercial Knowledge |
CA Intermediate Course Under New Scheme 2024
CA Intermediate Eligibility:
The eligibility criteria for the CA Intermediate course are the same as before. However, students must undergo an 8-month study period in the direct entry route to appear in the exams.
CA Intermediate New Syllabus 2024:
The CA Intermediate course will now consist of only 6 papers, instead of 8. The key changes proposed by ICAI New Scheme in the CA Intermediate subjects are:
- Papers 1 and 5 have been merged, with the new Paper 1 being “Advanced Accounting.
- Enterprise Information Systems has been removed from Paper 7, and Economics for Finance has been removed from Paper 8. The remaining portions have been combined into a new Paper 6 titled “Financial Management and Strategic Management” (50 marks each).
- Paper 2 on corporate law will now cover the Companies Act, while Business Law will be covered at the ICAI New Scheme CA Foundation level.
|
Proposed |
Current |
|
Paper 1: Advanced Accounting |
Paper 1: Accounting |
|
Paper 5: Advanced Accounting |
|
|
Paper 2: Corporate and Other Laws |
Paper 2: Corporate and Other Laws |
|
Paper 3: Taxation
|
Paper-3: Cost and Management Accounting |
|
Paper 4: Cost and Management Accounting |
Paper 4: Taxation
|
|
Paper 5: Auditing and Ethics |
Paper 6: Auditing and Assurance |
|
Paper 6A: Financial Management Paper 6B: Strategic Management |
Paper 7: Enterprise Information Systems & Strategic Management |
|
Paper 8: Financial Management & Economics For Finance |
CA Intermediate Passing Criteria:
Exemption Criteria for CA Intermediate:
Candidates must obtain a minimum of 40% marks in each of the 6 subjects and a minimum of 50% marks in aggregate. Now, 30% of the questions in all 6 papers will be in MCQ format for which there will be no negative marking.
Under the ICAI New Scheme, if you earn an exemption in any paper, it will be permanent, meaning ICAI will consider the exempted papers as permanently passed. However, you must still clear the remaining papers with at least 50% marks in the CA Intermediate result.
|
Aspect |
Proposed /Existing |
Intermediate and Final |
|
Exemption |
Proposed |
|
|
Existing |
If the student secures 60% or more, in paper/s in one attempt, exemption of such paper(s) for immediate 3 attempts is allowed and thereafter exemption will lapse. |
CA Intermediate Exam Pattern under New Scheme 2025:
The CA Intermediate exam pattern under the new scheme is structured to enhance the assessment of candidates
|
CA Intermediate |
Subjective |
Objective |
|
Paper 1: Advance Accounting |
70 Marks |
30 Marks |
|
Paper 2: Corporate and Other Laws Laws |
70 Marks |
30 Marks |
|
Paper 3A: Income-Tax Law |
35 Marks |
15 Marks |
|
Paper 3B: Indirect Taxes |
35 Marks |
15 Marks |
|
Paper 4: Cost and Management Accounting |
70 Marks |
30 Marks |
|
Paper 5: Auditing & Ethics |
70 Marks |
30 Marks |
|
Paper 6A: Financial Management |
35 Marks |
15 Marks |
|
Paper 6B: Strategic Management |
35 Marks |
15 Marks |
CA Articleship Training:
ICAI New Scheme has shortened the CA Articleship duration from 3 years to 2 years, which is great news for CA aspirants as they can now qualify as Chartered Accountants sooner.
However, for those aspiring to practice as Chartered Accountants, there is an additional requirement. They must gain 1 year of experience in a Chartered Accountancy firm before receiving a certificate of practice.
CA Articleship Eligibility:
Under the CA New Scheme 2024, students must pass both groups of the CA Intermediate exam and complete ICITSS training to be eligible for articleship training.
CA Articleship Leaves:
ICAI New Scheme Since there are no exams during the practical training, ICAI New Scheme has decided to reduce the number of leaves allowed. Students can now take only 12 leaves per year, totaling 24 leaves over the two-year training period.
|
Commencement of Practical Training |
Foundation Routes and Direct Entry Route: After passing both the group of Intermediate and completion of ICITSS |
Foundation Routes: After passing either or both the Intermediate and completion of the Integrated Course on Information Technology and Soft Skills (ICITSS) Direct Entry Route: After registering for the Intermediate Course and completing the ICITSS Course. |
|
Duration |
Two Years |
Three Years |
|
Leave |
12 leaves in a year |
1/7th of the period of practical Training. |
ICAI Self-Paced Modules:
ICAI New Scheme has launched self-paced modules as part of its new education and training scheme. These allow students to study at their convenience and take exams online.
|
SET A (Compulsory) |
SET B (Compulsory) |
SET C (Any one to be selected) |
SET D (Any one to be selected) |
|
Corporate and Economics Laws |
Strategic Cost and Performance Management |
Elective |
Towards developing inherent traits of CA Students and incorporating Multidisciplinary approach envisaged in NEP,2020) (choose one module) |
|
Companies Act, 2013 (50 Marks) |
|
|
|
|
Securities & Exchange Board Of India Act, 1992 & Supporting Regulations (20 Marks) |
|
|
|
|
Economic Laws (30 Marks)
|
|
Entrepreneurship & start-up ecosystem |
|
|
|
||
|
|||
|
|||
|
|||
|
|||
|
|||
|
To be eligible for the CA Final exams, students must pass all four sets of modules, with a minimum score of 50% in each.
ICAI New Scheme Among these, Sets A and B, which cover Corporate & Economic Laws and Strategic Cost Management, are mandatory. These subjects were previously part of the CA Final old course but have now been removed.
CA Final Course Under New Scheme Of Education & Training
CA Final Eligibility and Registration:
To be eligible for registration in the CA Final course, students must pass both groups of the CA Intermediate exams and complete the ICITSS training.
Additionally:
- Complete the Advanced ICITSS Course.
- Complete a 6-month study period after finishing practical training.
- Clear all 4 self-paced modules.
The CA Final registration is valid for 10 years, and candidates can revalidate it after this period by paying the prescribed fee.
CA Final New Syllabus 2024:
Under the CA New Scheme 2024, ICAI has reduced the number of CA Final question papers from 8 to 6. Each of the two groups will now consist of 3 papers.
The major changes introduced in the CA Final subjects include the following:
- ICAI New Scheme subjects of Paper 4 (Corporate & Economic Laws) & Paper 5 (Advanced Management Accounting) have been removed and shifted to the self-paced modules.
- Paper 6 will no longer have options and will now be a Multi-disciplinary Case Study with Strategic Management.
- Elective subjects like Risk Management, Financial Services, and Capital Markets are now part of Set C in the self-paced modules.
|
Proposed |
Current |
|
Paper 1: Financial Reporting |
Paper 1: Financial Reporting |
|
Paper 2: Advanced Financial Management |
Paper 2: Strategic Financial Management |
|
Paper 3: Advanced Auditing, Assurance and Professional Ethics |
Paper 3: Advanced Auditing and Professional Ethics |
|
Paper 4: Direct Tax Laws and International Taxation |
Paper 7: Direct Tax Laws |
|
Paper 5: Indirect Tax Laws |
Paper 8: Indirect Tax Laws |
|
Paper 6: Integrated Business Solutions |
Paper 6: Elective Subject |
CA Final Exam Pattern:
|
CA Final |
Subjective |
Objective |
|
Paper 1: Financial Reporting |
70 Marks |
30 Marks |
|
Paper 2: Advanced Financial Management (AFM) |
70 Marks |
30 Marks |
|
Paper 3: Advanced Auditing and Professional Ethics |
70 Marks |
70 Marks |
|
Paper 4: Direct Tax Laws and International Taxation |
70 Marks |
30 Marks |
|
Paper 5: Indirect Tax Laws |
70 Marks |
30 Marks |
|
Paper 6: Integrated Business Solutions |
35 Marks |
15 Marks |
Exit Route Under ICAI’s New Scheme
The exit route will change the CA New Scheme 2024. Many students typically leave the CA course due to difficulty passing the CA Final exams.
ICAI New Scheme The Business Accounting Associate certification offers students a valuable credential, even if they choose not to continue toward becoming Chartered Accountants. To earn this certification, students must meet the following requirements:
- Pass both groups of CA-Intermediate exams.
- Complete CA articleship training of 2 years.
- Finish soft skills and IT courses.
- Cleared all four self-paced modules.