In December 2023, ICAI released an announcement to the CA students. CA students are entering into the new syllabus this year. The ICAI announcement provides valid points about the advanced-level ICITSS course from ICAI. The old course had different subjects in the IT course. The students from the conversion scheme would have completed the GMCS MCS GMCS II or Advanced ITT. The students should recheck the requirements and start the course on time before appearing for the CA final examination. The blog explains the different categories of students for advanced-level IT training, the syllabus of advanced-level IT training and the importance of IT training in CA courses.
Advanced IT training:
The Advance ITT course is a course that goes for 30 days. The syllabus has two components to enrich the management and IT skills of the students. The two components are advanced IT and MCS training. The exam fee is 6000 for students from the general category. The other students get discounted fees of 4,500 or 4,000. The students falling under the admission of advanced IT training are grouped as new students with prior registration, converted students from the old syllabus and registered before July 2017 but did not appear in the examination and the students from the old syllabus appeared once in the examination. In the first and second cases, the student should complete the course before writing the CA final examination. In the third case, the student should complete the ICITSS training either before or after the CA final. All three categories of students should complete the advanced ICITSS course. If a partial component of Advanced ICITSS i.e. MCS was completed earlier. The student should complete the pending component.
Advanced IT training syllabus:
The Advanced ITT training touches base on the latest subjects in technology. The course covers a wide range of topics such as e-commerce, ERP systems, programming languages, auditing in ERP environments, information security, enterprise resource planning, and database application using MS Access, database management systems, operating systems, and networking. After completing the course, the students will write a two-hour computer-based test. The students will write 100 multiple-choice questions. The passing mark is 50.
Importance of advanced IT training:
- The students learn the latest technology used in the auditing field.
- The students understand the time taken to complete the different tasks in auditing. The technical knowledge prepares the students for the job.
- The student gets the opportunity to understand the requirements of the corporate world. The student focuses on soft skills and IT knowledge.
- The Advanced IT training is a computer-based one. Some experts feel that practical training is good for understanding the level of knowledge of a student. As technology is dominating the auditing industry, conducting practical training makes chartered accountants future-ready.
- Advanced ITT training boosts the self-confidence of the student.
- MCS training enhances the speaking and management skills of the student.
Usage of technology in auditing:
- Technology helps auditors make informed decisions.
- The digital environment boosts the thinking of planning work and completing the work on time.
- Technology helps for minimising risk in the auditing process.
- Technology pay way to complete data analysis and reduce the sample-based analysis.
- Technology reduces human jobs in auditing. Technology completes the automated part. The auditor makes the final decision. The intelligence of auditors is valued more than technology.
- Data science and artificial intelligence spotlight the trends, risks and mistakes of operations.
- Technology contributes to the planning part of auditing. A well-planned audit gives the desired results.
- Technology increases the number of clients an auditor is handling.
- Technology makes the complicated part of auditing as easy.
- The technology improves the data security.
- Auditors need complete knowledge of technology in a company. They should understand the application, network, security, and database management system.
- Technology helps auditors understand internal systems and external challenges.
- Auditors use technology to achieve business objectives.
- Technology helps the auditors to manage the disruptive conditions.
- Cloud computing technology helps auditors to perform testing and information processing tasks from any location around the world.
- Artificial intelligence helps auditors automate complex and repetitive tasks.
- Data science helps auditors to analyse a large set of data.
- Data analytics promote impactful reports. The data visualisation, graphical representation and charts enhance the internal audit quality.
The auditors work and gain experience in all sectors. The reliability of information or data used for audit evidence has crucial importance in auditing. The backup of technology brings accuracy. The technology promotes auditing as the evidence-based proof to implement the best practices. The management team and employees believe in evidence-based information. Technology helps store and use data at the right time. The advanced ITT training has vast coverage of IT skills. The students joining the new scheme IT training enhance the job opportunities. The IT skills, article ship training, mark and number of attempts are the factors that attract employers to employ the professional. The students with industry-ready training grow and reach top management positions within a short period.