NAGPUR: The Institute of Chartered Accountants of India (ICAI), the governing body for country's premier accounting profession, is once again planning a revamp in its education pattern. This may also make entry into the course tougher. At present, students can start the course from Std 12 after appearing for an entrance exam or join directly after graduation. A commerce graduate needs to score 55% marks and it is 60% for others.
The ICAI has formed a committee for restructuring of education and training (CRET). It met recently at Agra for a two-day brainstorming session. The focus was to raise the bar for entry especially through entrance exam mode. At the same time, it is also being discussed to change the norms for compulsory practical training. More such sessions will be held and views from stakeholders would also be invited.
The pattern for entrance test has been changed thrice in the last 10 years. The old system of a year-long foundation course for Std 12 students and direct entry for graduates was changed in early 2000s. The course was replaced with professional efficiency test, a one-time subjective exam test. This was followed by the objective type common proficiency test which came around 2006 and is in force till date.
Tarun Ghia, a member of the CRET, told TOI that several new models are being discussed with an extensive questionnaire prepared to seek the stakeholders' views. "There have been views to make the entrance examination tougher so that the right candidates get in. Currently, since the common proficiency test (CPT) appears to be relatively easier a large number of candidates pass. But for many it is difficult to eventually clear the chartered accountancy course and they end up being frustrated," said Ghia. He was in the city to attend a function organized by the local branch of ICAI.
Ghia said he feels that the objective nature of CPT also at times makes clearing the exam a matter of chance. However, this aspect has not been discussed so far.
It is also being considered to allow the candidates take up the mandatory 3-year articleship practical training after they entirely clear first stage of the course. The curriculum is divided in two stages. The first is the Integrated Professional Competency Course (IPCC) or the erstwhile intermediate which has eight subjects divided in two groups. This is followed by the final course.
It is being considered to allow the students to go for the three-year articleship training after they clear the IPCC entirely. Under the current pattern it starts soon after passing IPCC's first group of 4 subjects. This may help in easing the burden on the candidates. "Often preoccupied with the practical training, the candidates are not able to pass the exams," said Ghia.
Sources- TOI
Perfect Decision in mah personal view.... Either make it
tougher on entry or stop making students being
Frustrated....
What are your views guys..
CAclubindia
