What wil be the rules for Existing students of ICAI 2023 proposed scheme

The Institute of Chartered Accountants of India (ICAI) introduced a New Scheme of Education and Training effective from July 1, 2023. For students who were already pursuing the course under the old/existing syllabus, a structured transition plan was implemented.

Key Rules for Existing Students

• Automatic Conversion: Most students were automatically converted to the New Scheme following their last attempts under the old syllabus (November 2023 for Intermediate and Final).

• Transition Period: November 2023 was the final examination term for the old syllabus. The first examinations under the New Scheme were held in May 2024.

• Paper-wise Exemptions: The ICAI announced specific guidelines regarding exemptions. Students who secured 60% or more in papers under the old scheme were granted corresponding exemptions in the new scheme for the remaining duration of their exemption validity.

• Practical Training:

  • The last date for commencing 3 years of practical training under the old rules was June 30, 2023.

  • Students who commenced training from July 1, 2023, follow the new 2-year uninterrupted practical training rule.

• Self-Paced Modules: Students converting from the old scheme are generally exempted from certain self-paced online modules (specifically SET-C and SET-D in some scenarios), though requirements can vary based on individual progress (e.g., whether a student passed one group or both).

Summary of Major Changes

For specific details regarding your personal transition status, it is recommended that you check your Student Service Portal (SSP) account, as ICAI provides personalized conversion details there.

Summary: The ICAI 2023 New Scheme replaced the old syllabus starting July 2023, with November 2023 being the last exam for the old scheme. Existing students were transitioned via an automatic process, with specific provisions for carry-forward exemptions and adjusted practical training requirements (reducing from 3 years to 2 years for new entrants).