The Institute of Chartered Accountants of India (ICAI) is planning to introduce new syllabus for CA students from November, or at least by May next year, to improve standards and reduce the dropout rate, according to M Devaraja Reddy, President of ICAI.
In an event at VIsakhapatnam, he said that at present, even those who passed the SSC exam were appearing for the entrance test, which consists of multiple choice questions for 200 marks. "A number of non-serious candidate are getting into the course and dropping out later. To improve standards, we have decided that the minimum qualification for appearing for the entrance exam is plus-two (or twelfth standard or intermediate course) and those who have passed degree exams can directly enroll themselves. Further, the entrance will now carry 400 marks - 200 marks for multiple choice questions and 200 for the subject. We hope this will address the problem", he explained.
Reddy said proposals to revise the syllabus and exam rules had been sent to the Ministry of Corporate Affairs, and later would be referred to the Ministry of Law for approval. In all probability, the new syllabus and rules may come into effect from November or latest by May next year, in case of any delay.
Reddy also said CA coaching institutes were mushrooming, but the ICAI did not have any power to control them. These institutes were misleading parents as well as students, and therefore the ICAI will also open career counselling centres to guide them.
The ICAI President said there are 2,50,000 CAs in the country at present and 30,000 Indian CAs were working in foreign countries. "In the next tens years, at least 10 lakhs CAs will be required and therefore there is great demand for the course but we must maintain the highest professional standards," Reddy said.
In response to a question on the Kingfisher Airlines issue, he said the role of auditors was nil in the affair, and the banking system would have to be steamlined to prevent such things.
-The Hindu Business Line
