ICAI CA Exam 2024: The Institute of Chartered Accountants of India has issued a significant notification concerning exemptions from participating in the Inter and Final exams as part of the New Scheme of Education and Training for the ICAI CA May Exam 2024. The official notification can be accessed on the ICAI's official website at icai.org.


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Under the New Scheme of Education and Training by the Institute of Chartered Accountants of India, the Institute's Council has made a decision to grant exemptions to current students from certain papers in the Intermediate and Final Examinations. These exemptions are applicable to papers that students have passed under the Old/Existing Scheme.


Regarding the Final Examination, the Council has opted to continue offering exemptions in a paper or papers to candidates who were previously granted exemptions under the Old/Existing Scheme. These exemptions will be applied to the corresponding paper(s) under the New Scheme, within the remaining chances of the exemption's validity.


Furthermore, the Council has determined that candidates who have passed in either one of the groups (but not both) of the final exam under the existing scheme will qualify for exemption in that specific group. However, they will still need to attempt and pass the remaining group or papers to successfully clear the Final Examination under the New Scheme.


For the Intermediate Examination, the Council has decided to extend exemptions in a paper or papers to candidates who were granted exemptions under the Old/Existing Scheme (based on having achieved a minimum of sixty percent marks in one or more papers within a Group or Groups, as per the existing exemption criteria). These exemptions will be applied to the corresponding paper(s) under the New Scheme, within the remaining chances of the exemption's validity.


Moreover, the Council has approved the 'Unit' scheme for candidates who have completed one of the Groups within the Intermediate Examination, as per the syllabus outlined in paragraph 2A of Schedule B to the Chartered Accountants Regulations, 1988. This scheme is also applicable to those who have completed the Professional Competence Examination (PCE), Intermediate (Professional Competence) Examination, Integrated Professional Competence Examination, Intermediate (IPC) Examination, or Intermediate Examination, and who intend to finish the Intermediate Course (New) Syllabus, in accordance with the official notice.