ÔĽŅ ICAIs announcement relating to exemptions for Final May 2018 exams - CAprep18
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ICAI's announcement relating to exemptions for Final May 2018 exams

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Exemption(s) from appearing in a paper(s) or Group of CA Exams, under the New Scheme of Education and Training w.e.f. May 2018 examinations.

New Scheme of Education of the CA course, has been implemented with effect from 1 st July 2017. The Examinations at various levels under the New Scheme of Education and Training will be held with effect from May 2018 examination onwards.

Examinations under the existing scheme of education at various levels of the course will continue to be held as per the schedule already announced.

The Council of the Institute has decided to grant the following exemptions under new syllabus approved by it under sub-regulation (4) of regulation 28G in respect of Intermediate Examination and under clause (iv) of regulation 31 of the Chartered Accountants Regulations, 1988 in respect of Final Examination for existing students in respect of the group/paper qualified by them under the old scheme:-

Final Examination:

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

The Council decided to continue to award exemption in a paper or papers to a candidate, granted earlier under the syllabus approved under clauses (i) and (ii) of Regulation 31 for the unexpired chance or chances of the exemption in the corresponding paper or paper(s) for the paper or papers in which he had secured exemption, if the corresponding paper or paper(s) exist(s) in the new syllabus of the Final Examination approved by the Council under clause (iv) of regulation 31.

In other words, a student of Final (Existing) Course who has been granted exemption in any paper (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 exemptions) under Regulation 38(C)(6) of the Chartered Accountants Regulations, 1988 will be granted exemption in the corresponding paper or papers in the Final (New) Examination for the unexpired chance or chances of the exemption as given below:

Final (Existing) Course under Regulation 31(ii) of the CA Regulations

Final (New) Course under Regulation 31(iv) of the CA Regulations 1988.

Group–I

Group–I

Paper1:Financial Reporting 

Paper1:Financial Reporting 

Paper2:Strategic Financial Management 

Paper2:Strategic Financial Management 

Paper3:Advanced Auditing and Professional Ethics 

Paper3:Advanced Auditing and Professional Ethics 

Paper4:Corporate and Allied Laws 

Paper 4 : Corporate and Economic Laws 

Group–II

Group–II

Paper5:Advanced Management Accounting

Paper 5: Strategic Cost Management and Performance Evaluation

Paper6:Information Systems Control And Audit

Nil. Since there is no corresponding paper in the New Course.

Paper7:Direct Tax Laws

Paper 7 : Direct Tax Laws & International Taxation

Paper8:Indirect Tax Laws

Paper 8 : Indirect Tax Laws

 

 

 (II)Group-wise exemption:

The Council decided that a candidate who has passed in any one but not in both the groups of the Final Examination under the syllabus approved by the Council under clauses (i) and (ii) of Regulation 31 or of the Final Examination as per the syllabus under paragraph 3 or 3A of Schedule `B‘ to the Chartered Accountants Regulations, 1988 or paragraph 3 of Schedule BB to the Chartered Accountants Regulations, 1964 (two groups scheme after January 1, 1985) enforced at the relevant time shall be eligible for exemption in that particular group and shall be required to appear and pass in the remaining group in order to pass the Final(New) Examination under Regulation 31(iv).

 In other words, students who have passed one of the groups under the syllabus as mentioned above shall be treated as having passed in that particular group and are required to appear in the remaining group of Final (New) examination under Regulation 31(iv) in order to pass the CA Final Examination to be held w.e.f May 2018 onwards. 

Group passed under the Final Course (Under Regulation 31(i) or (ii) or Para 3 or 3A of Schedule B to CA Regulations 1988 or Para 3 of Schedule BB of CA Regulations 1964

Group required to be passed under Final (New) Course under Regulation 31(iv) of CA Regulations 1988.

Students who have passed Group–I

To pass Group-II of Final (New) course and complete Advanced ICITSS and pass the test thereunder.

Students who have passed Group–II

To pass Group-I of Final (New) course and complete Advanced ICITSS and pass the test thereunder.

Source:

https://resource.cdn.icai.org/48229icaiexamannoun-exemnse.pdf

Group passed under the Final Course (Under Regulation 31(i) or (ii) or Para 3 or 3A of Schedule B to CA Regulations 1988 or Para 3 of Schedule BB of CA Regulations 1964

Group required to be passed under Final (New) Course under Regulation 31(iv) of CA Regulations 1988.

Students who have passed Group–I

To pass Group-II of Final (New) course and complete Advanced ICITSS and pass the test thereunder.

Students who have passed Group–II

To pass Group-I of Final (New) course and complete Advanced ICITSS and pass the test thereunder.

 

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