
ICAI Proposed Scheme of Education and Training (2022)
key Highlights
Brief history of CRET
The constitution of Committee for Review of Education and Training (CRET) commenced in the year 1975 when Review Committee for Accounting Education was set up which submitted its report in 1978.
Duration of last 5 CRETs:
1975-78 | 1985-88 | 1995-98 | 2004-08 | 2013-17 |
Conventionally, the CRET has been constituted after a time span of approximately nine to ten years.
The revised scheme of education and training is generally launched within approximately 3 years from the constitution of CRET
The Council, in March, 2021, accorded approval for formation of CRET, at an earlier point of time, i.e., after seven years, primarily due to the following factors –
- Need to make the curriculum globally relevant consequent to launch of international curriculum;
- Changes necessitated due to implementation of National Education Policy, 2020.
- Additional emphasis on Ethics and Information Technology – Integrating With all core subjects at Final Level.
- Diversifying role of Chartered Accountants.
Modus Operandi & Focus Areas
Modus operandi adopted by the CRET:-
- Identification of areas to be addressed in the New Scheme of Education and Training.
- Requirements under International Education Standards (IESs).
- Study and incorporation of the significant features of National Education Policy, 2020.
- Best practices of scheme of education and training of International Accountancy Bodies.
- Analysis of probable impact of changes in curriculum on current MRA/MOU with International Accountancy Bodies.
- Incorporation of suggestions emerging out of discussions at high level meetings of groups of CRET.
Important Focus areas identified for Way Forward:-
- Requirement for change in manner of learning.
- Honing of Interpretational skills.
- Duration of the course.
- Internationalization of the CA Course.
- Futuristic outlook in the Scheme of Education and Training.
- Higher Degree of Industry Orientation.
- Integration of Ethics.
- Intermittent Success Route.
Proposed Examination and Training Life Cycle

Training period

- Focused and seamless training is being introduced under Proposed Scheme as students will be enrolling for the training after completion of Intermediate Course. In the Current Scheme, student can commence training after passing either of the Groups of Intermediate Course. In case of students being unsuccessful at Intermediate exam, more preparatory leaves are availed.
- Student will be appearing in the Final examination after completion of 6 months from end of Practical Training, whereas, in the Current Scheme, student can appear in the Final examination after completion of 2 ½ year of practical training.
- No preparatory leaves are required as Training would be examination free in the Proposed Scheme.
- In the Proposed Scheme, though number of days of training will be reduced to a certain extent, however, the training will be continuous and more effective because students have already passed both the Groups of the Intermediate and will be appearing in the Final examination after completion of training.
Roadmap to become a CA
Activity | Current Scheme | Proposed Scheme |
---|---|---|
Registration for Foundation / appear for 10+2 | Start | Start |
Registration for Foundation / appear for 10+2 | 4 Months | 4 Months |
Study for Intermediate Examination | 8 Months | 8 Months |
Articledship | 36 Months | 24 Months |
Study for Final Examination | – | 6 Months |
Total period to become ICAI member | 48 Months | 42 Months |
Work experience for applying CoP | – | 12 Months |
The above neither includes time taken for declaration of results nor waiting time before next exam falls due. However, with the proposal to conduct online examination and / or more than 2 exams in a year, the time for results or next exam due would come down.
Subject Papers
ICAI Proposed Scheme of Education and Training (2022)
Comparison

Foundation Level Papers

Paper -1: A portion from the subject “Accounting” at the Intermediate level in the current CA course would be included in the proposed scheme so as to increase the standard of the Foundation level.
Paper -2: Business Correspondence and Reporting is not being separately included in the new course. Instead, to facilitate students with the requisite communication skills, an online course would be launched on English/Business communication, which would be recommendatory.
Paper -2: A dedicated 100 marks descriptive paper against 60 marks paper (in the current CA course) is proposed for “Business Laws”, which would help assess communication skills in addition to understanding laws
Paper -4 : A dedicated 100 marks paper as against 60 marks paper (in the current CA course) on “Business Economics” will include topics from the subject “Economics from Finance” at the Intermediate level in the current CA course.
Paper -4 : Students would get exposure of Business and Commercial Knowledge as part of their practical training in a more integrated manner and is therefore excluded in the new course.
Intermediate Level Papers

- Instead of two papers on accounting (in the current CA course) there would be a single paper “Advanced Accounting”. However, there will be no reduction in the content which is covered in two papers in the present scheme vis-à-vis one paper in the proposed scheme (some portion will be moved to Foundation level).
- The paper on “Corporate Laws” would cover The Companies Act in its entirety, since “Business Laws” is already covered at Foundation level through a 100 mark paper.
- Instead of a paper on “Enterprise Information Systems” at this level, information technology education is being integrated with subjects at the Final level.
Final Level Papers

Ethics and Information Technology to be integrated with the curriculum of all subjects at the Final Level.

- Multi-disciplinary case study is being made compulsory, and the same would be integrated with strategic management. This paper is necessary to assess the student’s ability to integrate the concepts and provisions across different subject areas, analyse them and apply them in addressing issues and solving problems in a multi-disciplinary case study involving strategic decision making.
- The current elective papers like risk management and financial services and capital markets would be included in self-paced online module [SET C], out ofwhich students can opt one based on their desired area of specialisation.
Practical Training

- Practical Training to commence only after passing both the groups of Intermediate in order to have exam free and seamless effective training, where a student can focus completely on his practical training.
- In order to ensure seamless and focussed practical training, the period of training would be an examination free period of two years. The student can appear in Final examination after completion of 6 months from the end of practical training period.
- Since there will be no exams during the two years of practical training, therefore, number of leaves have been restricted to 12 days in a year.

- Consequent to the changes in duration of the practical training, industrial training would be permitted in the last leg of practical training for a period of 9 months to 12 months.
- Since industrial training is permitted in the last 9 – 12 months of practical training period of two years, the requirement for transfer has been accordingly modified.
Exit Route – Business Accounting Associate (BAA)

A BAA certificate holder would possess the requisite accounting and technology skills since he would have qualified both groups of the intermediate examination; undergone the stipulated two years articleship training; completed the soft-skills and information technology courses and qualified the four self-paced online modules. This would cater to the needs of the industry by providing quality accounting and financial support staff and help the student in building his career.
Certificate of Practice

- A one year post qualification experience is mandated for those applying for COP. Also, members who are in industry and desire to shift to practice would also be required to have a one year experience in a CA firm before they apply for COP.
- This is to ensure that they acquire the requisite professional skills required to undertake practice, especially in relation to provisions of law and standards, when they desire to opt for practice.
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