The eligibility criteria for the CA Intermediate course remain unchanged. However, direct entry students are now required to complete an 8-month study period to be eligible to sit for the exams.

Under the new scheme, the CA Intermediate registration will be valid for five years instead of four. Students can revalidate their registration only once during this period by paying the stipulated fees.

The CA Intermediate course will now comprise six papers instead of eight. The ICAI has proposed the following changes to the CA Intermediate subjects:

• Paper 1 and 5 have been merged into one paper – Advanced Accounting
• Enterprise Information Systems has been removed from Paper 7
• Economics for Finance has been removed from Paper 8
• The remaining topics have been merged into Paper 6 as Financial Management and Strategic Management (50 marks + 50 marks)
• Paper 2 of Corporate Law will cover the Companies Act entirely
• The portion of Business Law will be covered at the CA Foundation level

The passing requirements for the CA Intermediate exams have also been modified. All six papers will have 30% MCQ-based questions, and there will be a negative marking of 0.25 for each incorrect answer. If a student gets an exemption in any paper under the new scheme, the exemption will be permanent for that paper. However, the student must pass the remaining papers with at least 50%.

CA ARTICLESHIP TRAINING:-

The ICAI has recommended significant improvements to the CA Articleship training program that will benefit students.

One of the significant changes is the reduction of the CA Articleship duration from three to two years. This means that CA aspirants can now become Chartered Accountants sooner than before.

However, with the shorter period of CA Articleship comes a condition for aspirants who want to become practitioners.

Students who wish to practice as CAs must have at least one year of experience in a Chartered Accountancy firm. They will then receive a practice certificate.

Existing CAs will be considered fulfilled if they have worked for one year in a CA firm within the last five years. This condition does not apply to anyone seeking employment.

To be eligible to begin Articleship training under the CA new scheme 2023, students must pass both groups of CA Intermediate and complete ICITSS training.

The student will benefit from the change because they will be able to focus solely on practical training and will not have to worry about exam preparation.

The ICAI has also decided to increase the CA Articleship stipend by 100% because many students complain that their current stipend is inadequate.

Since students are not required to take exams during their practical training, the ICAI has reduced the number of leaves. Students can take a maximum of 12 leaves every year, totaling 24 leaves in two years.

CA FINAL:-

In the CA New Scheme 2023, students must clear both rounds of the CA Intermediate exams and complete ICITSS training to register for the CA Final course. However, to appear for the CA Final exams, students must also complete the Advanced ICITSS course, undergo a six-month study period after practical training, and clear all four self-paced modules.

The CA Final registration is valid for ten years, after which aspirants can revalidate their registration for a prescribed fee.

In the CA New Scheme 2023, ICAI has reduced the number of CA Final papers from eight to six. There are two groups, each consisting of three papers.

The following changes have been made to the CA Final subjects:

• Papers 4 and 5 have been removed and included in the self-paced modules.
• Paper 6 will now be a Multi-disciplinary case study with Strategic Management, with no options.
• Elective subjects such as risk management and financial services and capital markets are now part of Set C of the self-paced modules.

Additionally, CA Final papers will now have 30% MCQ-based questions, and there will be a negative marking of 0.25 for every incorrect objective answer.