Chartered accountants’ apex body Institute of Chartered Accountants of India (ICAI) has revised its education and training system. it will now include several contemporary topics. And on the list figures Goods and services tax (GST) and corporate social responsibility (CSR). This was recently informed to the Parliament.
“The curriculum of the Chartered Accountants (CA) courses has been recently revised by the Institute of Chartered Accountants of India (ICAI),” minister of state for corporate affairs Arjun Ram Meghwal said in a written reply to the Rajya Sabha. He further said that several contemporary and relevant topics including GST, integrated as well as CSR reporting, and global financial reporting standard have been included in the CA syllabus.
List of topics included in syllabus:
Goods and Services Tax (GST)
Integrated as well as Corporate Social Responsibility (CSR) reporting
Global financial reporting standard
Islamic finance
Start-up finance
Small and medium enterprise (SME)
Also, chapters have been introduced on Islamic finance, start-up finance, small and medium enterprises (SME). Certain redundant topics on indirect taxes—services tax, excise duty and value added tax (VAT)—have been deleted. As reported, the weightage of GST-related questions would be 10 marks. Further, from May 2018, the exam will carry a full 100 marks.
Earlier statement of President of ICAI
“In Revised Scheme, the technical competence, professional skills and professional values, ethics and attitudes expected from a CA are being redefined and upgraded in order to gear up aspiring Chartered Accountants to take on new roles,” said CA Nilesh S Vikamsey, President, ICAI.
The Parliament was during a running session was informed that Chartered accountants’ apex body ICAI has revised its education and training system. On the occasion of completing its 68 years of service, the Institute of Chartered Accountants of India (ICAI) Chartered Accountancy course revised syllabus was released by Prime Minister Narendra Modi.
