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The Institute of Chartered Accountants of India (ICAI) is reviewing its Chartered Accountancy (CA) education and training framework to align it with technological changes in the accounting and finance sector. The proposed changes are expected to strengthen students’ exposure to artificial intelligence (AI), data analytics, sustainability, environmental, social and governance (ESG) and forensic auditing.
ICAI is also working on an international version of its CA programme, which will allow students in other countries to pursue the ICAI qualification with modifications to taxation and law papers based on local regulations.
ICAI Reviews CA Education And Training
ICAI President Prasanna D Kumar said the institute has already introduced several technology-focused training programmes and is now examining changes to the formal CA education structure.
The Committee for Review of Education and Training (CRET) has been constituted to review the existing framework. Its scope includes the CA syllabus, practical training, soft skills, communication training and examination methods.
The committee is expected to complete its work by December, after which its recommendations will be placed in the public domain for feedback and discussion.
The review follows the introduction of the New Scheme of Education and Training in 2023. While AI, data analytics, ESG, sustainability and forensic auditing are not currently standalone components of the CA curriculum, ICAI has introduced separate programmes in several of these areas.
AI Training For CA Students And Members
ICAI has launched the Artificial Intelligence Understanding for Rising Achievers (AURA) programme for CA students and is preparing to introduce AURA 2.0 for students who have completed the first level.
The advanced programme will focus on practical applications of AI in finance, audit and taxation, including technology, automation and data tools.
For existing CA members, ICAI has also introduced the AI Certificate Course for Chartered Accountants (AICA). Its first level has trained more than 45,000 members across over 850 batches, while Level 2 has trained more than 1,500 members through over 80 batches.
The institute is also upgrading its Digital Information Systems Assurance (DISA) 3.0 programme to DISA 4.0. The new version is expected to be launched in October.
ICAI Plans International CA Programme
Alongside the domestic curriculum review, ICAI is developing an international version of its CA course to expand the qualification’s global reach.
Under the proposed framework, the international programme will largely follow the Indian CA curriculum. However, taxation and law papers will be adapted to the respective country’s legal and regulatory requirements.
ICAI is working with the Mauritius Institute of Professional Accountants (MIPA) on adapting the curriculum for Mauritius. Similar collaborations are being explored with Nepal and countries in Africa. The institute also has an agreement with the Institute of Singapore Chartered Accountants.
Students completing the CA programme under the international framework will receive the ICAI Chartered Accountancy qualification. The remaining subjects, apart from country-specific taxation and law, will follow a common curriculum covering globally relevant standards and topics.
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