CA course syllabus to undergo major changes

English proficiency test and general economics will be part of syllabus for common proficiency test (CPT)- the first of three examinations of chartered accountant (CA) course.

The Institute of Chartered Accountants of India (ICAI) has proposed changes in syllabus for CPT and CA finals which will be launched in November 2016.

“Our target is to conduct the first examination under new syllabus in November 2017,” Babu Abraham Kallivayalil, chairman of ICAI’s board of studies told media persons here on Friday.

He was in the city to attend the inaugural session of the two-day national convention for chartered accountants hosted jointly by Baroda branches of Western Indian Regional Council of ICAI and Western India Chartered Accountants Students Association.

“We have proposed changes in the syllabus for CPT (CA foundation course) by introducing English proficiency test and general economics tests in it. Proficiency of English plays major role in chartered accountants’ profession. All over the world, there is much demand for chartered accountants. However, we found lack of reasonable level of English proficiency even in toppers of CA course. Hence, the curriculum will have lot of changes to make chartered accountants proficient in English and general economics,” he said.

“The CA foundation course will have four question papers of 100 marks each. English proficiency, general economics and logic will be one of the four papers. General knowledge of economics and English grammar will be focused in the descriptive paper,” he said.

Similarly, a paper on business economics will be introduced at CA inter level while the costing paper which is of 50 marks at CA inter level and 100 marks at CA finals level, will carry 100 marks weightage at both the levels. At the same time, a paper on finance and capital, carrying 100 marks weightage, will be introduced in CA final.

The new syllabus has been placed in public domain and the institute had already received over 2,000 opinions on it.

According to him, in the next five years, at least three lakh CAs will be required in the country. Presently, an average of 15,000 CAs pass out every year.

 ICAI has also started random checking of balance sheets of companies whose turnover is more than Rs5,000 crore. “Every year, 100 such balance sheets will be checked by the institute,” he said.
The convention, which was inaugurated by Bhakti Sharma, first Asian woman open water swimmer, is being attended by more than 1,000 CA students from across the country.
A variety of topics that will be discussed in this two-day convention include corporate law, accounts and audit, changing paradigm in Indian economy and indirect taxation.
Source : Timesofindia


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