ICAI | Exemptions introduced in CA Exams under Revised Education Scheme from May 2024

Last updated: 25 August 2023

Exemption(s) from appearing in paper(s) or Group of Chartered Accountancy Examinations under the New Scheme of Education and Training w.e.f. May 2024 Examination

New Scheme of Education and Training of the Institute of Chartered Accountants of India has been implemented with effect from 1st July 2023. The examination at Intermediate and Final levels under the New Scheme of Education and Training will be held with effect from May 2024 Examination.

The Council of the Institute has decided to grant exemptions under New Syllabus approved by it for Intermediate Examination (under sub-regulation (4) of regulation 28G of the Chartered Accountants Regulations, 1988) and for Final Examination (under clause (v) of regulation 31 of the Chartered Accountants Regulations, 1988) to existing students for papers passed by them under the Old/Existing Scheme as follows: -

 

I. Final Examination

(i) Paper-wise exemption on the basis of securing sixty per cent or more marks

The Council decided (under sub-regulation (5) of regulation 38D of the Chartered Accountants Regulations, 1988) to continue to award exemption in a paper or papers to a candidate, granted earlier under Old/Existing Scheme (by virtue of having secured a minimum of sixty percent marks in one or more papers in a Group/s as per the existing criteria for grant of exemption), for the unexpired chance(s) of the exemption in the corresponding paper(s) approved by the Council under New Scheme as given below:

Paper(s) under Existing Scheme

Corresponding paper(s) under New Scheme

Paper 1: Financial Reporting

Paper 1: Financial Reporting

Paper 2: Strategic Financial Management

Paper 2: Advanced Financial Management

Paper 3: Advanced Auditing and Professional Ethics

Paper 3: Advanced Auditing, Assurance and Professional Ethics

Paper 4: Corporate and Economic Laws

Self-Paced Online Module SET A: Corporate and Economic Laws

Paper 5: Strategic Cost Management and Performance Evaluation

Self-Paced Online Module SET B: Strategic Cost & Performance Management

Paper 6: Elective Paper

Paper 6: Integrated Business Solutions

Paper 7: Direct Tax Laws and International Taxation

Paper 4: Direct Tax Laws & International Taxation

Paper 8: Indirect Tax Laws

Paper 5: Indirect Tax Laws

(ii) Details of papers/ group in which candidates are required to appear and pass in Final Examination under New Scheme

The Council decided that a candidate who has 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 as given below:

Group passed under Existing Scheme

Papers passed under Existing Scheme

Corresponding exemption under New Scheme

Papers required to be passed under New Scheme

Group-I

Paper 1: Financial Reporting

Paper 1: Financial Reporting

Paper 4: Direct Tax Laws & International Taxation

Paper 5: Indirect Tax Laws

Paper 6: Integrated Business Solutions

Self-Paced Online Module SET B: Strategic Cost & Performance Management*

Paper 2: Strategic Financial Management

Paper 2: Advanced Financial Management

Paper 3: Advanced Auditing and Professional Ethics

Paper 3: Advanced Auditing, Assurance and Professional Ethics

Paper 4: Corporate and Economic Laws

Self-Paced Online Module SET A: Corporate and Economic Laws

Group-II

Paper 5: Strategic Cost Management and Performance Evaluation

Self-Paced Online Module SET B: Strategic Cost & Performance Management

Paper 1: Financial Reporting

Paper 2: Advanced Financial Management

Paper 3: Advanced Auditing, Assurance and Professional Ethics

Self-Paced Online Module SET A: Corporate and Economic Laws*

Paper 6: Elective Paper

Paper 6: Integrated Business Solutions

Paper 7: Direct Tax Laws and International Taxation

Paper 4: Direct Tax Laws & International Taxation

Paper 8: Indirect Tax Laws

Paper 5: Indirect Tax Laws

* Final Course Students appearing in May 2024 Examination under New Scheme may qualify Self-Paced Online Modules, as applicable, after passing May 2024 Examination but before applying for membership. Thereafter, the candidate would be eligible for subsequent examination only after qualifying Self-Paced Online Modules, as applicable.

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.

II. Intermediate Examination

(i) Paper-wise exemption on the basis of securing sixty per cent or more marks

The Council decided (under sub-regulation (7) of regulation 37D of the Chartered Accountants Regulations, 1988) to continue to award exemption in a paper or papers to a candidate, granted earlier under Old/Existing Scheme (by virtue of having secured a minimum of sixty percent marks in one or more papers in a Group/s as per the existing criteria for grant of exemption), for the unexpired chance(s) of the exemption in the corresponding paper(s) approved by the Council under New Scheme as given below:

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 & Strategic Management

Paper 6: Financial Management and Strategic Management

Paper 8: Financial Management & Economics for Finance

Paper 6: Financial Management and Strategic Management

(ii) Details of paper/unit/group in which candidates are required to appear and pass in Intermediate Examination under New Scheme

The Council also approved the “Unit” Scheme for those candidates who had completed one of the Groups under the erstwhile Intermediate Examination under the syllabus as specified in paragraph 2A of Schedule B to the Chartered Accountants Regulations, 1988 (held in November 1994 or thereafter) or Professional Education (Examination II) or Professional Competence Examination (PCE), or Intermediate (Professional Competence) Examination, or Integrated Professional Competence Examination or Intermediate (IPC) Examination or Intermediate Examination and are desirous of completing the Intermediate Course (New) Syllabus as given below:

Scenario

Details of paper/unit/group passed

Papers passed under Old/Existing Scheme

Corresponding exemption under New Scheme

Papers required to be passed under New Scheme at Intermediate

Self-Paced Online Modules to be passed before appearing in Final

Examination

I

Group-I passed in Intermediate under Paragraph 2A of Schedule ‘B’ (i.e. November 1994 or later) or Professional Education Examination–II or Professional Competence Examination

Paper 1: Advanced Accounting/ Accounting

Group I Paper 1: Advanced Accounting

Unit 1

Group I Paper 3: Taxation

Group II Paper 4: Cost and Management Accounting

Group II Paper 6: Financial Management and Strategic Management

SET A: Corporate and Economic Laws

SET B: Strategic Cost & Performance Management

SET C:

Specialization (elective)

and

SET D: Multi- disciplinary (elective)

Paper 2: Auditing/ Auditing and Assurance

Group II Paper 5: Auditing and Ethics

Paper 3: Corporate and Other Laws/ Business and Corporate Laws/ Law, Ethics and Communication

Group I Paper 2: Corporate and Other Laws

IIA

Group-I passed in Intermediate under Paragraph 2A of Schedule ‘B’ (i.e.

November 1994 or later) or Professional Education Examination–II or Professional Competence Examination and subsequently passed Unit 6 in Integrated Professional Competence

Examination/

Paper 1: Advanced Accounting/ Accounting

Group I Paper 1: Advanced Accounting

Unit 1A

Group I Paper 3: Taxation

Group II Paper 4: Cost and Management Accounting

SET A: Corporate and Economic Laws

SET B: Strategic Cost & Performance Management

SET C:

Specialization (elective)

Paper 2: Auditing/ Auditing and Assurance

Group II Paper 5: Auditing and Ethics

Paper 3: Corporate and Other Laws/ Business and Corporate Laws/Law, Ethics and Communication

Group I Paper 2: Corporate and Other Laws

 

Intermediate (Integrated Professional Competence) Examination

 

   

and

SET D: Multi- disciplinary (elective)

Paper 7: Information Technology and Strategic Management

Group II Paper 6: Financial Management and Strategic Management

IIB

Group-I passed in Intermediate under Paragraph 2A of Schedule ‘B’ (i.e.

November 1994 or later) or Professional Education Examination–II or Professional Competence Examination and subsequently passed Unit 6A in Intermediate Examination

Paper 1: Advanced Accounting/ Accounting

Group I Paper 1: Advanced Accounting

Unit 1A

Group I Paper 3: Taxation

Group II Paper 4: Cost and Management Accounting

SET A: Corporate and Economic Laws

SET B: Strategic Cost & Performance Management

either of

SET C:

Specialization (elective)

or

SET D: Multi- disciplinary (elective)

Paper 2: Auditing/ Auditing and Assurance

Group II Paper 5: Auditing and Ethics

Paper 3: Corporate and Other Laws/ Business and Corporate Laws/ Law, Ethics and Communication

Group I Paper 2: Corporate and Other Laws

Paper 7: Enterprise Information Systems & Strategic Management

Group II Paper 6: Financial Management and Strategic Management

Paper 8: Financial Management & Economics for Finance

III

Group-I passed in Intermediate under Paragraph 2A of Schedule ‘B’ (i.e.

November 1994 or later) or Professional Education Examination–II or Professional Competence Examination and subsequently passed Unit 4/4A in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate Examination

Paper 1: Advanced Accounting/ Accounting

Group I Paper 1: Advanced Accounting

Unit 1B

Group II Paper 6: Financial Management and Strategic Management

SET A: Corporate and Economic Laws

SET B: Strategic Cost & Performance Management

SET C:

Specialization (elective)

and

SET D: Multi- disciplinary (elective)

Paper 2: Auditing/ Auditing and Assurance

Group II Paper 5: Auditing and Ethics

Paper 3: Corporate and Other Laws/ Business and Corporate Laws/ Law, Ethics and Communication

Group I Paper 2: Corporate and Other Laws

Paper 3: Cost Accounting and Financial Management/Cost and Management Accounting

Group II Paper 4: Cost and Management Accounting

Paper 4: Taxation

Group I Paper 3: Taxation

IV

Group-II passed in

Paper 4: Cost

Group II Paper 4:

Unit 2

SET A: Corporate

 

Intermediate under Paragraph 2A of Schedule ‘B’ (i.e. November 1994 or later) or Professional Education Examination–II

Accounting/ Cost Accounting and Financial Management

Cost and Management Accounting

Group I Paper 1: Advanced Accounting

Group I Paper 2: Corporate and Other Laws

Group II Paper 5: Auditing & Ethics

Group II Paper 6: Financial Management and Strategic Management

and Economic Laws

SET B: Strategic Cost & Performance Management

either of

SET C:

Specialization (elective)

or

SET D: Multi- disciplinary (elective)

Paper 5: Income Tax and Central Sales Tax

Group I Paper 3: Taxation

Paper 6: Organisation & Management and Fundamentals of Electronic Data Processing/ Information Technology

 

V

Group-II passed In Professional Competence Examination

Paper 4: Cost Accounting and Financial Management

Group II Paper 4: Cost and Management Accounting

Unit 2A

Group I Paper 1: Advanced Accounting

Group I Paper 2: Corporate and Other Laws

Group II Paper 5: Auditing and Ethics

SET A: Corporate and Economic Laws

SET B: Strategic Cost & Performance Management

SET C:

Specialization (elective)

and

SET D: Multi- disciplinary (elective)

Paper 5: Taxation

Group I Paper 3: Taxation

Paper 6: Information Technology and Strategic Management

Group II Paper 6: Financial Management and Strategic Management

VI

Group-II passed in Intermediate under Paragraph 2A of Schedule ‘B’ (i.e.

November 1994 or later) or Professional Education Examination–II and subsequently passed Unit 5/5A in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate Examination

Paper 4: Cost Accounting/ Cost Accounting and Financial Management

Group II Paper 4: Cost and Management Accounting

Unit 2B

Group I Paper 2: Corporate and Other Laws

Group II Paper 6: Financial Management and Strategic Management

SET A: Corporate and Economic Laws

SET B: Strategic Cost & Performance Management

either of

SET C:

Specialization (elective)

or

SET D: Multi- disciplinary (elective)

Paper 5: Income Tax and Central Sales Tax

Group I Paper 3: Taxation

Paper 6: Organisation & Management and Fundamentals of Electronic Data Processing/ Information Technology

 

Paper 5: Advanced Accounting

Group I Paper 1: Advanced Accounting

   

Paper 6: Auditing and Assurance

Group II Paper 5: Auditing and

Ethics

   

VII

Group-II passed in Professional Competence Examination and subsequently passed Unit 5/5A in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate Examination

Paper 4: Cost Accounting and Financial Management

Group II Paper 4: Cost and Management Accounting

Unit 2C

Group I Paper 2: Corporate and Other Laws

SET A: Corporate and Economic Laws

SET B: Strategic Cost & Performance Management

SET C:

Specialization (elective)

and

SET D: Multi- disciplinary (elective)

Paper 5: Taxation

Group I Paper 3: Taxation

Paper 6: Information Technology and Strategic Management

Group II Paper 6: Financial Management and Strategic Management

Paper 5: Advanced Accounting

Group I Paper 1: Advanced Accounting

Paper 6: Auditing and Assurance

Group II Paper 5: Auditing and Ethics

 

VIII

Group-II passed in Intermediate under Paragraph 2A of Schedule ‘B’ (i.e.

November 1994 or later) or Professional Education Examination–II and subsequently passed Unit 7/7A in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate Examination

Paper 4: Cost Accounting/ Cost Accounting and Financial Management

Group II Paper 4: Cost and Management Accounting

Unit 2D

Group II Paper 5: Auditing and Ethics

Group II Paper 6: Financial Management and Strategic Management

SET A: Corporate and Economic Laws

SET B: Strategic Cost & Performance Management

either of

SET C:

Specialization (elective)

or

SET D: Multi- disciplinary (elective)

Paper 5: Income Tax and Central Sales Tax

Group I Paper 3: Taxation

Paper 6: Organisation & Management and Fundamentals of Electronic Data Processing/ Information Technology

 

Paper 1: Accounting

Group I Paper 1: Advanced Accounting

Paper 2: Business Laws, Ethics and Communication/ Corporate and Other Laws

Group I Paper 2: Corporate and Other Laws

IX

Group-II passed in Professional Competence Examination and subsequently passed

Unit 7/7A in Integrated

Paper 4: Cost Accounting and Financial Management

Group II Paper 4: Cost and Management Accounting

Unit 2E

Group II Paper 5: Auditing and

Ethics

SET A: Corporate and Economic Laws

SET B: Strategic

 

Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate Examination

Paper 5: Taxation

Group I Paper 3: Taxation

 

Cost & Performance Management

SET C:

Specialization (elective)

and

SET D: Multi- disciplinary (elective)

Paper 6: Information Technology and Strategic Management

Group II Paper 6: Financial Management and Strategic Management

Paper 1: Accounting

Group I Paper 1: Advanced Accounting

Paper 2: Business Laws, Ethics and Communication/ Corporate and

Other Laws

Group I Paper 2: Corporate and Other Laws

X

Group-I passed in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination/ Intermediate Examination

Paper 1: Accounting

Group I Paper 1: Advanced Accounting

Unit 2D

Group II Paper 5: Auditing and Ethics

Group II Paper 6: Financial Management and Strategic Management

SET A: Corporate and Economic Laws

SET B: Strategic Cost & Performance Management

SET C:

Specialization (elective)

and

SET D: Multi- disciplinary (elective)

Paper 2: Business Laws, Ethics and Communication/ Corporate and Other Laws

Group I Paper 2: Corporate and Other Laws

Paper 3: Cost Accounting and Financial Management/Cost and Management Accounting

Group II Paper 4: Cost and Management Accounting

Paper 4: Taxation

Group I Paper 3: Taxation

XIA

Group-II passed in Integrated Professional Competence Examination/ Intermediate (Integrated Professional Competence) Examination

Paper 5: Advanced Accounting

Group I Paper 1: Advanced Accounting

Unit 3

Group I Paper 2: Corporate and Other Laws

Group I Paper 3: Taxation

Group II Paper 4: Cost and Management Accounting

SET A: Corporate and Economic Laws

SET B: Strategic Cost & Performance Management

SET C:

Specialization (elective)

and

SET D: Multi- disciplinary

(elective)

Paper 6: Auditing and Assurance

Group II Paper 5: Auditing and Ethics

Paper 7: Information Technology and Strategic Management

Group II Paper 6: Financial Management and Strategic Management

XIB

Group-II passed in Intermediate Examination

Paper 5: Advanced Accounting

Group I Paper 1: Advanced Accounting

Unit 3

Group I Paper 2: Corporate and

SET A: Corporate and Economic Laws

   

Paper 6: Auditing and Assurance

Group II Paper 5: Auditing and Ethics

Other Laws

Group I Paper 3: Taxation

Group II Paper 4: Cost and Management Accounting

SET B: Strategic Cost & Performance Management

either of

SET C:

Specialization (elective)

or

SET D: Multi- disciplinary (elective)

Paper 7: Enterprise Information Systems & Strategic Management

Group II Paper 6: Financial Management and Strategic Management

Paper 8: Financial Management & Economics for

Finance



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