ICAI Revises Syllabus for CA; GST, CSR, Islamic Finance among New Topics
- ICAI has revised the syllabus for Chartered Accountants (CA) after more than a decade.
- CSR, GST and Small and Medium Enterprise (SME) are some of the new topics.
- The revised syllabus was launched by Prime Minister Narendra Modi on July 31, 2017.
The apex body of chartered accountants, ICAI, has revised the syllabus for CA after more than a decade. The Institute of Chartered Accountants of India (ICAI) has introduced some major changes in the syllabus and has included various contemporary topics such as Corporate Social Responsibility (CSR) and the newly implemented Goods and Services Tax (GST) scheme.
The parliament was informed about the changes in the CA syllabus through the written reply sent by Arjun Ram Meghwal, Minister of State for Corporate Affairs. In his reply to the Rajya Sabha, the minister said that relevant topics including national and global financial reporting standard have been added to the syllabus.
Following are the topics that have been added to the syllabus for ICAI CA:
- Goods and Services Tax (GST)
- Corporate Social Responsibility (CSR)
- Small and Medium Enterprise (SME)
- Islamic Finance
- Start-up Finance
Meghwal also informed that ICAI has also removed some of the redundant topics from the syllabus including services tax, value added tax (VAT) and excise duty.
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The revised syllabus has been prepared after various discussions and consultations with experts in the field. The revised syllabus or Scheme of Education and Training was launched by Prime Minister Narendra Modi on CA Day celebrations held on July 31, 2017.
On the occasion, the Prime Minister said that the syllabus has been revised to maintain the quality of financial education in the country. He added that this course will enhance the financial skills of students joining this field.
A message published on the ICAI website stated that the syllabus has been upgraded to maintain the International Education Standards issued by IAESB and inputs from ICAI members, industry experts and academicians.
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The updated syllabus fulfills the requirement of the contemporary business environment, stated the message published by Mr. Nilesh S. Vikamsey, President of ICAI. The motive behind revising the syllabus was to prepare the students for the roles that require them to provide multidimensional business solutions.