New CA course curriculum to be introduced from Sep 15

New Delhi, Sep 3 (UNI) Starting September 15, a new curriculum awaits students of Chartered Accountancy course with emphasis laid on financial reporting and introduction of a special module on service tax and VAT.

To help Chartered Accountants (CAs) to participate in the decision-making process and become globally competitive, the course aims to give students an updated knowledge of business communication through modules that develop soft skills, build business strategies and inculcate ethical values.

The course duration is also sought to be reduced by a year to four, Institute of Chartered Accountants of India (ICAI) President T N Manoharan said, adding that final approval from the Ministry of Company Affairs is being awaited.

ICAI will also hold a new objective type test, known as the Common Proficiency Test (CPT) replacing the existing professional education (course-I).

The Institute has added a new course to help students acquire specialisation in 'Consultancy Management' in view of the paradigm shift in the past decade with transformation in the economic scenario of the Asia-Pacific countries, particularly India.

According to the ICAI President, "today, 83 per cent of Chartered Accountancy (CA) passouts opt for jobs as job opportunities are so bright and attractive and there is a lot of demand for CAs." Two months ago, the recommendation for change in curriculum had been submitted to the Ministry of Company Affairs which had vetted the proposal and sought clarification. However, ICAI was awaiting a formal go-ahead within the next few days from the Ministry of Company Affairs which had referred the course content to the Law Ministry, Mr Manoharan said.

The changes are expected to attract the cream of the younger generation, Mr Manoharan said, noting that around 7,500 candidates become CAs every year while demand at 30,000 CAs clearly outstripped supply.

The new curriculum, for which it has got in-principle approval, will boost the consulting opportunities available to the profession and members/firms will have specialised training to maximise returns from such assignments of their specialised area of practice, he said.

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