The Institute of Chartered Accountants of India (ICAI) has well proof education system and has always taken proactive and exemplary initiatives to facilitate best resources catering to learning needs of its students, be it regarding updating our study materials, Live Virtual /Revision Classes, webcasts, mentoring sessions, Revamping of Reading Rooms training opportunities for article / industrial training, constant study updates, monthly student journal, GMCS and ITT batches targeted to build capability of students providing due scalability and more.
Some of the recent initiatives being undertaken by ICAI towards reforms in examination system are mentioned below:
1. Digital evaluation : As communicated in January 2019 Chartered Accountant Student newsletter , continuing further from the pilot e evaluation for first group of Intermediate Nov 2018 exams; all papers of Intermediate and Foundation level exams in November 2019/May 2020 will be put through the digital evaluation mode bringing in following benefits
➢ Doing away with stages of physical handling of answer books
➢ Avoiding variations in marks awarded by examiners.
➢ Eliminating scope of any totalling errors
➢ Continuous review of performance of the Examiners on real time basis;
➢ Generation of analytical reports enabling quality control checks; and
2. Central evaluation: Further the Central Evaluation is being carried out in several papers of CA exams, w.e.f November 2018 wherein examiners evaluate answer books under the supervision of Head Examiner/Associate Head Examiners.
3. Machine based evaluation: Effective May, 2019 exams, objective type questions for 30 marks have been introduced in select papers of Intermediate and Final Exams. Further the Institute has decided to introduce OMR based evaluation for MCQ’s of Elective Papers 6A to 6F of final New course with effect from November 2019 which are machine processed thus avoiding subjectivity.
4. Stepwise marking : Provision regarding stepwise marking is being enforced whereby in case the stepwise marks are not awarded ; it will be deemed as unevaluated answer and stepwise marks will be awarded during the course of re verification of marks.
5. Mandatory on-line test for empanelment of examiners: All applicants shortlisted for empanelment as examiners are required to qualify an on-line test in the subject of their choice before inclusion of their names in the Panel of Examiners. It has further been decided that all existing examiners would also be required to undergo an on-line test in their respective subjects, once in 3 years.
To further strengthen the examination & evaluation process ICAI has decided to constitute a High Level Independent Committee to look into the Examination processes / Regulations governing CA Examinations including Regulation 39(4) of the Chartered Accountants Regulations, 1988 and suggest changes wherever required in the ICAI Examination System.
The Committee would comprise of the following members:
1. Dr. P. C. Jain, Govt. Nominee, Convenor
2. Justice (CA.) Anil R. Dave, Former Judge, Supreme Court of India
3. CA. Ved Jain, Past President, ICAI
4. CA. Amarjit Chopra, Past President, ICAI
5. CA. (Dr.) Girish Ahuja, Renowned Educationist
Shri Rakesh Sehgal, Acting Secretary, ICAI will act as Secretary to this Committee.