The Institute of Chartered Accountants of India (ICAI) has issued a notice regarding the exemptions from appearing in CA Intermediate and CA Final exams under the New Scheme of Education and Training on the official website – icai.org. The exemptions will be effective for the ICAI CA May exam 2024.
According to the institute, it will grant exemptions under the new syllabus for CA Intermediate exams and for CA Final exams to the existing students for papers passed by them under the old, existing scheme.
An official statement from ICAI read, “ For the Final CA exams the council has decided to continue to award exemption in a paper or papers to a candidate, granted earlier under the old, existing scheme, for the unexpired chance(s) of the exemption in the corresponding paper(s) approved by the council under the new scheme.”
The council further stated,” A candidate who has passed in any one but not in both the groups of the Final Examination under the existing scheme shall be eligible for exemption in that particular group and shall be required to appear and pass in the remaining group or paper(s) in order to pass the CA Final examination under the new scheme.”
For the CA intermediate exam, the council decided to continue to award exemption in a paper or papers to a candidate, granted earlier under the old, existing scheme, for the unexpired chance(s) of the exemption in the corresponding paper(s) approved by the council under the new scheme.
Candidates can check the table below for the exemptions given by the ICAI under the new scheme.
| Paper(s) under Existing Scheme | Corresponding paper(s) under New Scheme |
| Paper 1: Accounting | Paper 1: Advanced Accounting |
| Paper 2: Corporate and Other Laws | Paper 2: Corporate and Other Laws |
| Paper 3: Cost and Management Accounting | Paper 4: Cost and Management Accounting |
| Paper 4: Taxation | Paper 3: Taxation |
| Paper 5: Advanced Accounting | Paper 1: Advanced Accounting |
| Paper 6: Auditing and Assurance | Paper 5: Auditing and Ethics |
| Paper 7: Enterprise Information Systems and StrategicManagement | Paper 6: Financial Management and Strategic Management |
| Paper 8: Financial Management and Economics for Finance | Paper 6: Financial Management and Strategic Management |
