ICAI Full Form Is Institute of Chartered Accountants of India is the national professional accounting body of India. The ICAI is responsible for setting accounting standards, conducting professional development programs, administering examinations for aspiring CAs, and regulating the ethical and professional conduct of its members. The Institute has a membership of more than 3 lakh Chartered Accountants (CAs) who are engaged in various fields such as public practice, industry, government, and education.
- About
As you know, ICAI full form is The Institute of Chartered Accountants of India the national professional accounting body of India, established in 1949 under the Chartered Accountants Act, 1949. The ICAI plays a crucial role in regulating the chartered accountancy profession in India. It sets accounting standards, conducts professional development programs, administers examinations for aspiring CAs, and regulates the ethical and professional conduct of its members. With a membership of over 3 lakh Chartered Accountants, the Institute is highly respected for its contributions to the profession and the wider economy.
- Exam Pattern
A ICAI (Institute of Chartered Accountants of India) conducts various examinations for aspiring chartered accountants. The exam pattern for different levels of the CA course is as follows:
- Foundation Course:
- Mode of ICAI Exam: Offline
- Medium of Exam: English/Hindi
- Type of Questions: Multiple Choice Questions (MCQs) and Descriptive
- Duration: 3 hours for MCQs and 2 hours for Descriptive
- Number of Papers: 4 papers
- Total Marks: 400 marks (100 marks for each paper)
- Intermediate Course:
- Mode of ICAI Exam: Offline
- Medium of Exam: English/Hindi
- Type of Questions: Objective and Descriptive
- Duration: 3 hours for Objective and 4 hours for Descriptive
- Number of Papers: 8 papers (Group 1 and Group 2)
- Total Marks: 800 marks (100 marks for each objective paper and 100 marks for each descriptive paper)
- Final Course:
- Mode of ICAI Exam: Offline
- Medium of Exam: English/Hindi
- Type of Questions: Objective and Descriptive
- Duration: 3 hours for Objective and 4 hours for Descriptive
- Number of Papers: 8 papers (Group 1 and Group 2)
- Total Marks: 800 marks (100 marks for each objective paper and 100 marks for each descriptive paper)
- Application Fee
| Exam Level | Indian Centres | Kathmandu Centre | Overseas Centres |
|---|---|---|---|
| Foundation | Rs. 1,500/- | Rs. 2,200/- | US$ 325/- |
| Intermediate | Rs. 2,000/- | Rs. 2,700/- | US$ 400/- |
| Final | Rs. 2,500/- | Rs. 3,200/- | US$ 475/- |
Eligibility Criteria
- Foundation Course:
- Candidates must have completed 10+2 (or equivalent) from a recognized board with a minimum of 50% marks in aggregate.
- Candidates who have completed their graduation or post-graduation in Commerce with a minimum of 55% marks are exempted from the Foundation course.
- Intermediate Course:
- Candidates must have passed the Foundation course or hold a graduation or post-graduation degree in Commerce with a minimum of 55% marks or any other equivalent qualification recognized by the ICAI.
- Candidates who have passed the Intermediate level of the Institute of Company Secretaries of India (ICSI) or the Institute of Cost Accountants of India (ICAI) are also eligible to apply for the Intermediate course.
- Final Course:
- Candidates must have passed the Intermediate course or its equivalent, completed the prescribed period of practical training, and passed the specified examinations.
- Candidates who have passed the Intermediate level of the ICSI or the ICMAI are also eligible to apply for the Final course.
It’s important to note that the eligibility criteria mentioned here may be subject to change, and it’s always advisable to check the official ICAI website for the latest and most accurate information.
- ICAI 2022-2023 Cut Off
The ICAI cut-off for 2023 has not yet been released. However, you can expect the cut-off to be similar to previous years. For example, the cut-off for the CA Final exam in 2022 was 50% for the group 1 subject and 45% for the group 2 subject.
The cut-off is determined by a number of factors, including the difficulty level of the exam, the number of candidates who pass, and the number of seats available. It is important to note that the cut-off can vary from year to year, so it is always best to check the latest information on the ICAI website before you take the exam.
Here are some tips for increasing your chances of passing the ICAI exam:
- Start studying early. The CA exams are very demanding, so it is important to start studying early and give yourself plenty of time to prepare.
- Create a study schedule and stick to it. It is important to be consistent with your studies and to set aside enough time each day to review your notes and practice problems.
- Join a study group. Studying with other people can help you stay motivated and focused.
- Use practice problems and mock exams. Practice problems and mock exams are a great way to test your knowledge and identify areas where you need to improve.
- Get help from a tutor if needed. If you are struggling with a particular subject, consider getting help from a tutor.
- FAQs
The ICAI is the national professional body for chartered accountants in India. It is responsible for setting accounting standards, conducting examinations, and providing education and training for chartered accountants.
To become a chartered accountant, you must pass all of the ICAI examinations and complete a period of practical training. The ICAI examinations are divided into three levels: Foundation, Intermediate, and Final. You must pass the Foundation exam before you can take the Intermediate exam, and you must pass the Intermediate exam before you can take the Final exam.
You can find more information about the ICAI exams on the ICAI website. The website includes information on the exam syllabus, registration process, and exam fees.
Chartered accountants are in high demand in India and around the world. They work in a variety of industries, including accounting, finance, and auditing. Chartered accountants enjoy a high level of job security and earn a good salary.
