The Institute of Chartered Accountants of India (ICAI) saw fewer than 4% of students qualify this year, sparking the institute to discuss toughing up on its entrance criteria.

The ICAI runs two chartered accountancy courses, one which was updated in 2006, and one which is more traditional, liveMint.com reports.

Just 3.46% passed the traditional course and 6.56% of students graduated on the updated course.

ICAI president Amarjit Chopra said the institute is considering making the common proficiency test, or entrance exam, tougher in order to weed out the less serious candidates.

The institute will meet on 4-6 August to discuss how it will make the entrance examinations tougher and so that only "capable" students go through said Chopra.

(Rachael Singh, Accountancy Age, 26 Jul 2010)