The Institute of Chartered Accountants of India (ICAI) is all set to begin with the exams from May 2 onwards, which will go on till May 17. The CA exams are known to be one of the most toughest but at the same time, you can reap the benefits once you clear them all.
In the recent years, we have seen ICAI clearing only a handful of students to become Chartered Accountants, given the competition, ability and growing peer pressure among aspirants.
How many CAs does the Institute clear this time in the high-pressure exams, is yet to be seen. Meanwhile, have a look at all that you need to know:
SCHEDULE, EXAM TIMINGS:
ICAI foundation course examination dates: May 10, 12, 14 and 16.
Intermediate (IPC) course examination dates: May 3, 5, 7 and 9 for group 1 and May 11, 12 and 15 for group 2.
Final course examination under existing scheme: May 2, 4, 6 and 8 for group 1 and May 10, 12, 14 and 16 for group 2.
Final examination under revised scheme:May 2,4,6 and 8 for group 1 and May 10, 12, 14 and 16 for group 2.
The CA Examinations, i.e Foundation, Intermediate (IPC), Intermediate, Final Examination (Both under the Old and New Scheme) and the Post Qualification Course Examination i.e. International Taxation - Assessment Test (INTT - AT) would be held from 2.00 PM to 5.00 PM (IST) on all the examination days, i.e. from 2nd May 2018 to 17th May 2018.
Examination timings at Abu Dhabi, Dubai and Muscat Centres will be 12.30 PM to 3.30 PM. (UAE local time equivalent to 2 PM to 5 PM (IST)). Examination timings at Kathmandu centre will be 2.15 PM to 5.15 PM, (Nepal local time equivalent to 2 PM to 5 PM (IST))
An announcement dated 9th January 2018 informing the schedule and timings of the CA Examinations-May 2018 was hosted on www.icai.org. The said announcement had indicated that the CA exams in May 2018 will be held in the morning session from 10.30 AM to 1.30 PM (IST). Subsequent to that representations were received requesting for retaining the earlier timings, i.e. 2.00 PM to 5.00 PM.
Ending the confusion over the timings, the institute finally decided to keep the exam timings from 2.00 PM to 5.00 PM.
Admit cards in respect of candidates admitted to the Foundation, Intermediate (IPC), Intermediate, Final and Final-New May 2018 examination, with their photographs and signatures on them, are hosted on http://icaiexam.icai.org
No physical admit cards will be sent to any candidate. Candidates are required to download and print their admit cards from the website. For downloading/printing of the admit cards, candidates will have to login to their Single-SignOn account at icaiexam.icai.org as under:
1. Visit http://icaiexam.icai.org
2. Login using your Login ID(Registration Number) and password
3. Click on link in front of Admit Card
Candidates may also visit the FAQs on subject hosted in the FAQs section of http://icaiexam.icai.org for more details.
For any further clarifications, write to/contact:
Foundation candidates : firstname.lastname@example.org
Final candidates: : email@example.com
Intermediate(IPC) candidates : firstname.lastname@example.org
Help Line Telephone numbers: 0120 3054 851, 852, 853, 854 and 835 0120 4953 751,752, 753 and 754
I. Intermediate Examination
(i) Exemption from appearing in a paper or papers on the basis of securing sixty per cent marks
The Council decided to continue to award exemption in a paper or papers to a candidate, granted earlier in the Intermediate (Integrated Professional Competence) Examination under the syllabus approved by the Council under sub-regulation (3) of regulation 28E for the unexpired chance or chances of that exemption in the corresponding paper or papers, in which he has secured exemption if the corresponding paper(s) exist(s) in the new syllabus approved by the Council under sub-regulation (4) of regulation 28G.
Accordingly, the status of exemptions available to a candidate who had been granted exemption in paper(s) in the Intermediate examination, on the basis of having secured a minimum of sixty marks in paper(s), for the un-expired chance(s) will be as follows:
(ii) Group-wise Exemption:
Further, the Council decided to grant exemption(s) to a candidate of the Intermediate (New) Syllabus, on the basis of group(s) passed, under the Integrated Professional Competence Examination or the Intermediate (Integrated Professional Competence) Examination, as mentioned in the table below.
In other words, students who have passed one of the groups of Integrated Professional Competence Examination or the Intermediate (Integrated Professional Competence)Examination but not both the groups of the said examinations are required to appear in the remaining group of the Intermediate Examination as mentioned in the above table.
(iii) Unit Scheme
The Council also approved the “Unit” Scheme as per attachment for those candidates who had completed one of the Groups under the erstwhile Intermediate Examination under the syllabus as specified in paragraph 2A of Schedule B to Chartered Accountants Regulations 1988 (held in November 1994 or thereafter) or Professional Education (Examination II) or Professional Competence Examination (PCE), or Intermediate (Professional Competence) Examination, or Integrated Professional Competence Examination or Intermediate (IPC) Examination and are desirous of completing the Intermediate Course (New) Syllabus
II. Final Examination:
(i) Paper-wise Exemption on the basis of securing sixty per cent or more marks:
The Council decided to continue to award exemption in a paper or papers to a candidate, granted earlier under the syllabus approved under clauses (i) and (ii) of Regulation 31 for the unexpired chance or chances of the exemption in the corresponding paper or paper(s) for the paper or papers in which he had secured exemption, if the corresponding paper or paper(s) exist(s) in the new syllabus of the Final Examination approved by the Council under clause (iv) of regulation 31.
In other words, a student of Final (Existing) Course who has been granted exemption in any paper (by virtue of having secured a minimum of sixty percent marks in one or more papers in a Group/s as per the existing criteria for grant of exemptions) under Regulation 38(C)(6) of the Chartered Accountants Regulations, 1988 will be granted exemption in the corresponding paper or papers in the Final (New) Examination for the unexpired chance or chances of the exemption as given below:
(ii) Group-wise exemption: The Council decided that a candidate who has passed in any one but not in both the groups of the Final Examination under the syllabus approved by the Council under clauses (i) and (ii) of Regulation 31 or of the Final Examination as per the syllabus under paragraph 3 or 3A of Schedule `B‘ to the Chartered Accountants Regulations, 1988 or paragraph 3 of Schedule BB to the Chartered Accountants Regulations, 1964 (two groups scheme after January 1, 1985) enforced at the relevant time shall be eligible for exemption in that particular group and shall be required to appear and pass in the remaining group in order to pass the Final(New) Examination under Regulation 31(iv).
In other words, students who have passed one of the groups under the syllabus as mentioned above shall be treated as having passed in that particular group and are required to appear in the remaining group of Final (New) examination under Regulation 31(iv) in order to pass the CA Final Examination to be held w.e.f May 2018 onwards.
EXAMS POSTPONED IN KARNATAKA:
The exam dates for the CA examinations in Karnataka region were changed in view of the state assembly elections. The Institute of Chartered Accountants of India (ICAI), which conducts the CA exam across the country decided to change the dates so that students do not face hassle as one of the exam dates clashed with polling date in the state.
The exams which were earlier scheduled to be conducted on May 11 and 12 will now be held on May 19 and 18. Karnataka will go to polls on May 12.
Intermediate (IPC) and Intermediate Examinations (revised scheme), (Group II), Paper – 5, Advanced Accounting: Saturday, May 19
Final (existing scheme) examination, (Group II), Paper – 6, Information Systems Control and Audit: May 18
Final (revised scheme) examination, (Group II), Paper – 6 (Elective): May 18
Foundation Examination, Paper – 2, Business Laws and Business Correspondence and Reporting: May 18
PQC – International Taxation – Assessment Test, Paper – 2, International Tax – Practice: May 18
The Institute of Chartered Accountants of India (ICAI) is the national professional accounting body of India. It was established on 1 July 1949 as a statutory body to regulate the profession of chartered accountancy in India.