The New Scheme of CA Education and Training of the ICAI has been implemented from July 1, 2023. Examinations at Intermediate and Final levels under the New Scheme will be held from May 2024 Examination.
The Council of the ICAI has decided to grant exemptions under the New Syllabus approved for Intermediate and Final Examinations, in respect of the papers passed by students under the Old/Existing Scheme.
Accordingly, ICAI has made an exciting announcement regarding exemptions from appearing in certain papers or groups of CA Final/Intermediate Exams under the New Scheme of Education and Training! Here are some key takeaways:
Key Highlights of the Exemption Scheme Announced by ICAI:
1. Students who have appeared in Final Old/ Existing Scheme and converting to Final New Scheme are exempted from appearance in Self-Paced Online Module SET C and SET D.
2. Exemptions will be granted to candidates who have passed papers under the Old/Existing Scheme by securing a minimum of sixty percent marks in one or more papers in a Group/s as per the existing criteria for grant of exemption.
3. The unexpired chance(s) of the exemption in the corresponding paper(s) approved by the Council under New Scheme will also be awarded.
4. Candidates who have passed in any one but not in both the groups of the Final Examination under Existing Scheme shall be eligible for exemption in that particular group and shall be required to appear and pass in the remaining group/ paper(s) in order to pass the Final Examination under New Scheme.
5. The Council has provided a list of corresponding papers under the New Scheme for each paper under the Old/Existing Scheme for which exemptions will be granted.
ICAI Announcement dated 24/08/2023: New Scheme CA Exams – Exemptions for Certain Papers Effective May 2024
What about exemption in respect of self-paced online modules included in the New Scheme?
Self-paced online modules are included in the New Scheme for exemptions. According to ICAI Announcement, candidates who have passed Paper 4 (Corporate and Economic Laws) under the existing scheme will be exempted from appearing in Self-Paced Online Module SET A (Corporate and Economic Laws) under the New Scheme. Similarly, candidates who have passed Paper 5 (Strategic Cost Management and Performance Evaluation) under the existing scheme will be exempted from appearing in Self-Paced Online Module SET B (Strategic Cost & Performance Management) under the New Scheme. These exemptions are applicable for the Final Examination. Additionally, the students who have appeared in Final Old/Existing Scheme and are converting to Final New Scheme are exempted from appearance in Self-Paced Online Module SET C and SET D. Anyways, it’s advisable to recheck with ICAI for official confirmation.
If someone has exemption in elective paper 6, whether it’s possible to carry forward the same to may 24? can students also exempt from multi disciplinary paper?
As per this Announcement, if a candidate has secured exemption in the elective Paper 6 under the Final old/existing scheme, the same can be carried forward to May 2024 exam under the new scheme. In this case student will also get exemption from multi disciplinary paper (Paper 6: Integrated Business Solutions). It’s advisable to recheck with ICAI for official confirmation.
What is the “Unit Scheme” for Intermediate Examination under the New Scheme?
Unit scheme is supposed to be a provision for candidates who have completed one of the groups in the old/existing scheme to allow them to complete their Intermediate Course (New) Syllabus by taking remaining specific units (papers) corresponding to the subjects they have already passed, along with additional papers required to be passed under the New Scheme.
I passed group 1 in IPCC and exemption in advance account in intermediate. Unit 10 audit and EIS-SM Remaining. what will in new scheme?
Can someone please explain Scenario IIA from view point of Unit Scheme?
As per my understanding, Scenario IIA involves students who have passed Group-I in Inter Exam under the old/existing scheme (from November 1994 onwards) or Professional Education Exam-II or Professional Competence Exam. They subsequently passed Unit 6 in the Integrated Professional Competence Examination.
In the new scheme, they are granted exemptions in their corresponding papers as follows:
– Paper 1: Advanced Accounting/Accounting (exempted)
– Group I Paper 2: Corporate and Other Laws (exempted)
– Group II Paper 5: Auditing and Ethics (exempted)
They are required to appear and pass the following papers under the new scheme, covered under Unit-1A at the Intermediate level:
– Group I Paper 3: Taxation
– Group II Paper 4: Cost and Management Accounting
Additionally, they need to complete Self-Paced Online Modules:
– SET A: Corporate and Economic Laws
– SET B: Strategic Cost & Performance Management
These requirements must be fulfilled to complete the Intermediate Course under the new syllabus.
I have cleared Inter Group I and have exemption in audit and eis-sm. In new course, how can i start my articleship?
I have two exemptions in Group 1 of the Old Syllabus (in May 2023 attempt). Will I be able to carry forward both the exemptions or will it be reduced to only one exemption to be carried forward per group? (since number of papers per group are reduced from 4 to 3)
If i have cleared group 1 under old scheme in may 23 by securing 53 marks in cost accounting then will i have to give cost accounting exam again under new scheme in group 2 in may 24?
I did AAT from Sri Lanka. Now I have to do CA in India. Is there exceptions subjects available?
I want to know whether I have to appear for self paced exams before appearing for group 1 of CA Final? IF yes, then what are exemptions available for me? (My CA Final Group 2 is cleared under old scheme)
I got exemption 6D paper. How many marks taking new schemes for passing. Each subject get 50 marks Or average 50 marks up to 3 attempts?
Is unit 10 scheme still applicable for may ipcc 2024??
I have passed Group 2 in 2022. Which papers from Group 1 do I have to give in the new scheme in May 2024? As costing now in the 2nd group, how many shall I require to pass in costing? Did my advance account paper now exempt as i passed group 2? If my advance account paper is exempt for me, then in remaning tax and law paper, how many marks do I require to pass in 2 subjects?
I have cleared group 1 ca final in May 2023, now do I need to study all the subjects again for paper 6 in group 2 since it includes all subjects.