ICAI Gives Clarity on New Scheme for May 2018 Exams

ICAI - Institute of Cost Accountants of India has given a detailed explanation on the new scheme for May 2018 exams. For the past few days, many students have been questioning about the conversion of candidates from old scheme to new scheme. Giving clarity in this regard, ICAI has released an official notification that contains the guidelines and exemptions for the conversion of candidates from the old scheme to the new scheme before appearing for May 2018 exams.

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Old & New Scheme of ICAI Exams: -

• Students are free to choose to continue in the existing scheme or convert to the new pattern.
• It is not mandatory to convert into the new scheme for May 2018 exams.
• Students can appear for the exams in the old scheme or opt for the new scheme and accordingly prepare for the exams.

After the following exams, the old scheme will discontinue permanently: -

• CPT (Common Proficiency Test) 2018
• Intermediate IPC – Old Scheme May 2019
• Final – Old Scheme November 2020

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Students under the old scheme will get the chance to appear only for the above-mentioned exams. Last week, ICAI announced the results of CPT and ICAI Final Exams. The pass percentage of both exams is over 22%. There were some minor issues with the rank list of ICAI. Over 60-70 students complained that the scorecard indicated the qualifying status as fail, while the rank list indicated the qualifying status as pass. ICAI has rectified the issue and issued revised rank/ merit list.