On July 1, 2017, ICAI, a statutory body established by an Act of Parliament will complete 68 years of its formation.
ICAI has prepared the revised syllabus after extensive consultations and discussions over the past few years.
While ICAI keeps introducing minor changes, this is the first time in more than 13 years that major revisions have been done in the syllabus, reported Press Trust of India.
According to ICAI, revised scheme of education and training has been formulated taking into account changes in the global business competitiveness scenario.
ICAI President Nilesh Shivji Vikamsey told PTI that major revisions have been done in the syllabus after 13 years.
"The revised course intends to promote innovation and bring about out-of-the-box thinking in the curriculum and education system of chartered accountancy course," he said.
"We had objective questions for 200 marks of four subjects. Now we have made it 400 marks, out of which 200 mark questions will be subjective and the rest objective," he added.
The institute would also be introducing electives for students appearing in the final examination, reported PTI.
"A student can choose from one out of six papers to specialise in... Out of the eight papers, seven are fixed and one subject the student can choose," Vikamsey said.
The new curriculum will be in the standards issued by International Federation of Accountants (IFAC), after considering the inputs from various stakeholders, ICAI Central Council member Supriya Kumar said recently.
(With Inputs from PTI)
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