The Institute of Chartered Accountants of India (ICAI) introduced the Revised Scheme of Education and Training (RSET) with the aim of enhancing the skillset and competency of aspiring Chartered Accountants. As this new scheme comes into effect, many CA students may have questions about the transition from the Existing Scheme to the Revised Scheme. In this blog, we will address some frequently asked questions (FAQs) on the transitional provisions, providing clarity on how this change impacts CA students.
Ans: You would be able to convert to the New Scheme of Education and Training through Self Service Portal (SSP) without any conversion fee. If you have not ordered the Study Material earlier, you may make the requisition for the Study Material under the New Scheme of Education and Training on Centralized Distribution System (CDS) portal without making any payment. If you have already taken the Study Material, you may order the Study Material under the New Scheme of Education and Training through CDS portal after paying Rs.500/- (Foundation Course) or Rs.1,000/- (Intermediate Course) or Rs.1,000/- (Final Course),
as the case may be.
Ans: After conversion to the New Scheme of Education and Training, your Foundation Course validity will be for 4 years from the first eligible attempt in the Foundation Examination, i.e., June, 2024 examination.
Ans: After conversion to the New Scheme of Education and Training, your Intermediate Course validity will be for 5 years from the date of conversion.
Ans: After conversion to the New Scheme of Education and Training, your Final Course validity will be for 10 years from the date of conversion.
Ans: You would be required to pass the remaining group/ paper(s) of Intermediate Examination if not passed both the groups. After passing both the groups of Intermediate Examination, you may commence Practical Training of two years after undergoing ICITSS.
Ans: Your first eligible attempt for Intermediate Examination will be November, 2023 which will be as per the syllabus of the Old Scheme of Education and Training. You will continue with the three years Practical Training. After passing both the groups of Intermediate Examination, you will register for Final Course under the New Scheme of Education and Training and become eligible for appearing in Final Examination after fulfilling the below criteria:
• Completion of Practical Training on or before the last day of the month preceding the month in which the examination is held or serving the last six months of Practical Training including excess leaves, if any, on the first day of the month in which the examination is held,
• Successful completion of Advanced ICITSS,
• Qualify Self-Paced Online Modules SET A and SET B, and
• Qualify Self-Paced Online Modules SET C and/ or SET D, as applicable, if in November, 2023
Intermediate Examination, you pass:
• Both the groups, will be exempted from SET C and SET D.
• Group-I, will have to qualify SET C and SET D.
• Group-II, will have the option to choose from SET C or SET D
• None of the groups, will have to qualify SET C and SET D.
Ans: Your first eligible attempt for Intermediate Examination will be May, 2024 which will be as per the New Scheme of Education and Training. You will continue your three years Practical Training and after passing both the groups of Intermediate Examination, you will register for Final Course under the New Scheme of Education and Training and become eligible for Final Examination after fulfilling the below criteria:
•Completion of Practical Training on or before the last day of the month preceding the month in which the examination is held or serving the last six months of Practical Training including excess leaves, if any, on the first day of the month in which the examination is held,
•Successful completion of Advanced ICITSS, and
•Qualifying Self-Paced Online Modules.
Ans: On or after 1st July, 2023, you will have to convert to the New Scheme of Education and Training. Your journey in the CA Course will be as under:
•After completion of eight months of study period from the date of registration in Intermediate
Course, you will be eligible to appear in Intermediate Examination,
•Pass both the groups of Intermediate Examination,
•Undergo ICITSS,
•Register for Final Course,
•Commence two years Practical Training,
•Qualify Self-Paced Online Modules,
•Undergo Advanced ICITSS after completion of Practical Training,
•Appear in Final Examination after six months from completion of Practical Training.
Ans: Since you have already appeared in Intermediate Examination, you would have completed eight months of study period under Foundation Route and therefore, you are eligible for Intermediate November, 2023 Examination. You will continue your three years Practical Training and after passing both the groups of Intermediate Examination, you will register for Final Course under the New Scheme of Education and Training and become eligible for Final Examination after fulfilling the below criteria:
•Completion of Practical Training on or before the last day of the month preceding the month in which the examination is held or serving the last six months of Practical Training including excess leaves, if any, on the first day of the month in which the examination is held,
•Successful completion of Advanced ICITSS, and
•Qualifying Self-Paced Online Modules, as applicable.
Ans: The requisite exemptions would be granted under the New Scheme of Education and Training. For further details, an announcement in this regard will be made separately.
Ans: SET C and SET D would be exempted for such students. If appearing in May, 2024 Final Examination, you can qualify mandatory modules SET A and SET B after passing Final Examination but before applying for the membership of the Institute. Thereafter if unsuccessful in May, 2024 Final Examination, you would be eligible for subsequent Final Examination only after qualifying mandatory modules SET A and SET B.
appearing for the Final Examination under the New Scheme of Education and Training.
Ans: If appearing in May, 2024 Final Examination, you can qualify mandatory modules SET A and SET B after passing Final Examination but before applying for the membership of the Institute. Thereafter if unsuccessful in May, 2024 Final Examination, you would be eligible for subsequent Final Examination only after qualifying mandatory modules SET A and SET B.
Ans: Since you have passed Group-I of Final Examination, you would have already undergone Advanced ICITSS. You will be required to appear in Group-II of Final Examination under the New Scheme of Education and Training. You would be exempted to qualify Self-Paced Online Modules SET A, SET C and SET D. You can apply for membership after
•Passing Group-II of Final Examination,
•Passing Self-Paced Module SET B, and
•Completion of balance period of Practical Training, if any.
Ans: Since you have passed Group-II of Final Examination, you would have already undergone Advanced ICITSS. You will be required to appear in Group-I of Final Examination under the New Scheme of Education and Training. You would be exempted to qualify Self-Paced Online Modules SET B, SET C and SET D. You can apply for membership after
•Passing Group-I of Final Examination,
•Passing Self-Paced Module SET A, and
•Completion of balance period of Practical Training, if any.
Ans: Your first eligible attempt for Final Examination would be November, 2025 after fulfilling the below criteria:
•Completion of Practical Training on or before the last day of the month preceding the month in which the examination is held or serving the last six months of Practical Training including excess leaves, if any, on the first day of the month in which the examination is held,
•Qualifying Self-Paced Online Modules SET A and SET B, and
•Successful completion of Advanced ICITSS.
Ans: You would be required to pass the balance group of Intermediate Examination and thereafter commence your Practical Training of two years. For example, if you pass balance group of Intermediate Examination in November, 2023 examination, then you
commence your Practical Training, say in March, 2024, after undergoing ICITSS. Thereafter, you may register for Final Course and simultaneously continue your Practical Training. Your first eligible attempt for Final Examination would be November, 2026 after fulfilling the below criteria:
Complete 6 months from completion of Practical Training,
Qualify Self-Paced Online Modules SET A and SET B, and
Undergo Advanced ICITSS.
Ans: You would be allowed to revalidate your registration for Foundation/ Intermediate/ Final Course under the Old Scheme of Education and Training by paying the requisite revalidation fee before submitting the examination form for respective November/ December, 2023 examination.
Ans: You would be required to convert to the New Scheme of Education and Training through Self Service Portal (SSP) without any conversion fee. If you have not ordered the Study Material earlier, you may make the requisition for the Study Material under the New Scheme of Education and Training on Centralized Distribution System (CDS) portal without making any payment. If you have already taken the Study Material, you may order the Study Material under the New Scheme of Education and Training through CDS portal after paying Rs.500/- (Foundation Course) or Rs.1,000/- (Intermediate Course) or Rs.1,000/- (Final Course), as the case may be.
Ans: The maximum leave eligibility during Practical Training of 3 years will continue to be 156 days as was there in the Old Scheme.
Ans: Since you have already commenced the Practical Training of 3 years under the Old Scheme after signing the articleship deed with your principal for the said duration, you would continue to undergo 3 years Practical Training.
Ans: You would become eligible for Final Examination after fulfilling the below criteria:
•Passing both the groups of Intermediate Examination,
•Successful completion of Advanced ICITSS,
•Qualifying Self-Paced Online Modules, as applicable, and
•Completion of Practical Training on or before the last day of the month preceding the
month in which the examination is held or serving the last six months of Practical Training
including excess leaves, if any, on the first day of the month in which the examination is held.
Ans: A student who has already undergone Orientation Course & ITT will not be required to undergo ICITSS again
Ans: A student who has already undergone MCS & Advanced ITT will not be required to undergo Advanced ICITSS again.
Ans: Student who has already undergone either OC or ITT has to undergo only the remaining course i.e. ITT or OC as the case may be.
Ans: Student who has already undergone either MCS or Advanced ITT has to undergo only the remaining course i.e. Advanced ITT or MCS as the case may be.
Ans: You need to undergo Advanced ICITSS before appearing in the Final Examination.
Ans: You need to undergo ICITSS before commencement of Practical Training.
Ans: ICITSS (OC & ITT) is a pre-requisite for commencing Practical Training under the New Scheme of Education and Training. Since you had already commenced the Practical Training, you need not undergo ICITSS.
Ans: Under the New Scheme of Education and Training, the eligibility for Intermediate Examination under Direct Entry Route is completion of 8 months study period. Hence, you will be eligible for Intermediate May, 2024 Examination
Ans: You may fill the registration form for Final Course under the New Scheme. However, when the window for November, 2023 examination form will open, you will be able to submit the examination form as per your eligibility.
Ans: Under the Old Scheme of Education and Training, the eligibility for Intermediate Examination under Direct Entry Route is completion of 9 months of Practical Training. Since your 9 months of Practical Training is not getting completed before 1st November, 2023, you will not be eligible for IntermediateNovember, 2023 Examination. You will be eligible for Intermediate May, 2024 Examination under the New Scheme of Education and Training.
Ans: With effect from 1st July, 2023, the minimum monthly stipend payable to trainees already undergoing Industrial Training is Rs.15,000/
Ans: You may discontinue the existing 3 years Practical Training and commence Practical Training afresh for 2 years after qualifying both the groups of Intermediate Examination. You may, however, note that no credit will be given for the period you have served under 3 years Practical Training.