Institute of Charted Accountants of India (ICAI) recently revised the syllabus for Charted Accountancy by including various topics like Goods and Service Tax (GST), as well as Corporate Social Responsibility (CSR) to the course.
Arun Ram Meghwal, the Minister of State for Corporate Affairs wrote to the Rajya Sabha, as a reply that the topics like GST and CSR, along with global financial reporting standard have been included in the CA syllabus by the ICAI.
These topics are not the only ones that have been introduced. Concepts like Islamic finance, start-up finance and small and medium expertise (SME) finance have also been incorporated. The topics like service tax, excise duty, value added tax (VAT) have been removed, considering they are redundant indirect taxes.
Nilesh Shivji Vikamsey, ICAI President said, " The revised course intends to promote innovation and bring about out-of-the-box thinking in the curriculum and education system of chartered accountancy course." The alterations in the course are taken up with respect to ICAI completing 68years on July 1, and with a focus on how to fit into the contemporary competition in a global stature.
These changes are being made in the basic as well as intermediate levels and the students who will appear for the final examinations for CA will be given an option to choose from the electives.