Good news! Now, you can become CA six months earlier than before: Check new ICAI rule

The Institute of Chartered Accountants of India (ICAI) has come up with a new rule which will allow students to become CA six months before the present timeline. The ICAI will allow students to seek provisional admission to foundation course of the Institute of Chartered Accountants of India (ICAI) after class 10 exams. This was announced by director of Board of Studies at ICAI. However, provisional admission to the foundation course will only be regularised once a candidate clears class 12 exams. 

"The Competent Authority has conveyed its approval on the ICAI proposal for amending the Regulations 25E, 25F & 28F of Chartered Accountants Regulations, 1988 which now enables candidate to provisionally register in the Foundation Course of the Institute of Chartered Accountants of India (ICAI) after passing Class X examinations," ICAI said. 

Why the new rule is being introduced? 

According to ICAI, this is being done to allow students to provisionally register in the foundation course after passing class 10 examination, Atul Kumar Gupta, President, ICAI, told PTI. He believes that it will help students prepare for the exams while pursuing class 11 and 12. 

"This will help students to prepare for the foundation course while pursuing class 11 and 12 and thus students would have ample time to update their knowledge and acquire requisite techniques to appear and pass CA foundation with flying colours. The ICAI also offers free online classes to students of the foundation which can be accessed anytime, anywhere," Gupta added. 

How will students benefit? 

Gupta explained that students can provisionally register themselves for the CA Foundation course after passing class 10 examination hence providing them with more time for developing, understanding and preparing for the professional course. 

"Students will be able to complete four months study period while pursuing class 11 and 12 and appear in foundation examination in the month of May or June immediately after appearing in class 12 examination. With the new norms, students will be able complete CA course and become Chartered Accountant, six months in advance, due to early admission," he said.