ICAI New Exam Pattern for May 2024 | New Scheme Exam Pattern | CA Final Inter & Foundation
The Institute of chartered accountants of India has released the new exam scheme for CA Final Intermediate and Foundation for May 2024 onward attempts.
S.No. | Important Dates for ICAI New Scheme | Date/ Attempt |
1. | Last date for Registration in Intermediate and Final Courses under Existing Scheme | 30th June, 2023 |
2. | Last date of commencement of three years Practical Training | 30th June, 2023 |
3. | Last date for Registration in Foundation under Existing Scheme | 1st July, 2023 |
4. | Date of commencement of Registration and Conversion in Intermediate and Final Courses under New Scheme | 1st July, 2023 |
5. | Date of commencement of two years uninterrupted Practical Training | 1st July, 2023 |
6. | Date of commencement of Registration and Conversion in Foundation Course under New Scheme | 2nd August, 2023 |
7. | Last Intermediate and Final Examination under Existing Scheme | November, 2023 |
8. | Last Foundation Examination under Existing Scheme | December, 2023 |
9. | First Intermediate and Final Examination under New Scheme | May, 2024 |
10. | First Foundation Examination under New Scheme | June, 2024 |
Significant Changes in New Scheme for May 202
- ICAI has completely changed the pattern of Exams under the new scheme; the number of exams is also reduced from 8 to 6 for CA Intermediate and CA Final.
- MCQs are also introduced in all CA Intermediate and CA Final subjects.
CA Intermediate May 2024 New Exam Pattern
Major changes are expected in CA Intermediate Accounting and Auditing with introducing of a code of ethics in CA Inter Auditing.
| CA Intermediate | Subjective | Objective |
Paper 1 | Advanced Accounting | 70 Marks | 30 Marks |
Paper 2 | Corporate Laws | 70 Marks | 30 Marks |
Paper 3 | Cost and Management Accounting | 70 Marks | 30 Marks |
Paper 4 | Taxation | 70 Marks | 30 Marks |
Paper 5 | Auditing and Code of Ethics | 70 Marks | 30 Marks |
Paper 6 | Financial Management | 35 Marks | 15 Marks |
Strategic Management | 35 Marks | 15 Marks |
CA Course Duration Under new Course May 2024
Significant development comes in the period of CA Articleship, which is three years in the existing scheme and has been reduced to 2 years under the New scheme for May 2024 onwards. The total course duration is 42 months from 48 months in the new scheme.
CA Final May 2024 Subjects and New Exam Pattern
| CA Final | Subjective | Objective |
Paper 1 | Financial Reporting | 70 Marks | 30 Marks |
Paper 2 | Advanced Financial Management (AFM) | 70 Marks | 30 Marks |
Paper 3 | Advanced Auditing and Professional Ethics | 70 Marks | 30 Marks |
Paper 4 | Multi-disciplinary case study with Strategic Management | 70 Marks | 30 Marks |
Paper 5 | Direct Tax Laws and International Taxation | 70 Marks | 30 Marks |
Paper 6 | Indirect Tax Laws | 70 Marks | 30 Marks |
Negative Marking for CA Final and Intermediate New Scheme
ICAI introduces a negative marking of 25% in all CA Final and Intermediate New Course subjects.
CA Final, Intermediate and Foundation Students of Existing Scheme
- It will no longer be continued after December 2023; students whose exams are in May 2024 should start preparing per the new ICAI scheme.
- The last Date to Register for CA Foundation December 2023 Exam is 1st July 2023. Exams will be conducted under the existing scheme only.
- The last date to register for CA Inter and Final for November 2023 is 30th June 2023. Exams will be conducted under the existing scheme only; after November, students will be automatically shifted into the new scheme.
- Registration for CA Foundation for June 2024 attempt will start on 2nd August 2024. Business correspondence & Reporting in Paper 2 and Business commercial knowledge in Paper 4 is removed under the new scheme of the CA Foundation.
Passing Criteria for CA Foundation, Intermediate and Final under the new course May 2024 onwards
There is a new change in the exemption criteria under the new scheme. Now ICAI will treat exempt papers (scored 60+ marks) as permanently passed papers. Students need to achieve 50% individually in the rest of the papers. Students can also surrender the exemption under the new scheme of ICAI.
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