icai new scheme study material
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