The Institute of Chartered Accountants of India (ICAI) has recently released the new exam pattern for its May 2024 exams for the Final Inter and Foundation levels. The new pattern seeks to make the entire exam process more comprehensive and ensure that students are equipped to handle the challenging demands of the modern accounting profession. The new scheme incorporates a number of changes, including the introduction of multiple choice questions, online evaluation, and an increased emphasis on practical aspects of the accounting profession. Additionally, the examination duration has been extended to ensure students have sufficient time to complete the exam. The ICAI has also introduced measures to ensure the safety and security of the examination process, such as biometric authentication and CCTV surveillance. The new scheme is designed to equip students with the necessary skills and knowledge to succeed in the accounting profession.

Significant Changes in New Scheme for May 2024

The Institute of Chartered Accountants of India (ICAI) has recently announced significant changes to the scheme of education and training for the May 2024 examinations. These changes are aimed at enhancing the quality of education and training of Chartered Accountants and streamlining the entire examination process. The major changes include introduction of an online examination, a new syllabus for the CA Foundation course, an increase in the number of papers for the CA Intermediate course, and a new format for the CA Final course. These changes will help aspiring Chartered Accountants to stay up-to-date with the changing trends of the industry and equip them with the necessary knowledge and skills to meet the challenges of the ever-evolving professional environment.

CA Intermediate May 2024 New Exam Pattern

The Institute of Chartered Accountants of India (ICAI) has announced the new exam pattern for the CA Intermediate course for the May 2024 examination.

CA Course Duration Under new Course May 2024

The Chartered Accountancy (CA) course duration has been revised, and the new course duration is May 2024. The duration of the course has been reduced to 3.5 years from the earlier 4.5 years. This will help students complete the course faster and enter the professional world sooner. The new course structure will include three stages: Foundation, Intermediate, and Final. Each stage will have its own syllabus and exams to be cleared in order to move to the next stage. The revised duration is expected to be beneficial for both students and employers. 

CA Final May 2024 Subjects and New Exam Pattern

Negative Marking for CA Final and Intermediate New Scheme

Negative marking has been introduced in CA Final and Intermediate New Scheme exams. It means that for every wrong answer, a pre-determined number of marks will be deducted from the total score. For every incorrect answer in CA Final New Scheme, 0.25 marks are deducted and for CA Intermediate New Scheme, 0.125 marks are deducted. Negative marking is designed to discourage students from randomly guessing the answers and motivate them to attempt questions only when they are sure of the answer.

CA Final, Intermediate and Foundation Students of Existing Scheme

CA Final Students of Existing Scheme

• Must have passed both Group I and Group II of Intermediate or both Groups of Intermediate (IPC) examination
• Must have completed their practical training of 3 years
• Must have successfully completed the Orientation Course

CA Intermediate Students of Existing Scheme

• Must have passed the Foundation Examination
• Must have completed their practical training of 2 years
• Must have successfully completed the Orientation Course

CA Foundation Students of Existing Scheme

• Must have cleared the 10+2 level of examination
• Must have registered for the Foundation Course
• Must have successfully completed the Orientation Course

Passing Criteria for CA Foundation, Intermediate and Final under the new course May 2024 onwards

CA Foundation: To pass the CA Foundation exam, students must secure a minimum of 40% marks in each paper and a minimum of 50% marks in the aggregate of all the four papers.

CA Intermediate: To pass the CA Intermediate exam, students must secure a minimum of 40% marks in each paper and a minimum of 50% marks in the aggregate of all the eight papers.

CA Final: To pass the CA Final exam, students must secure a minimum of 40% marks in each paper and a minimum of 50% marks in the aggregate of all the eight papers.