Recheck/verification of marks poses the question of whether they will reduce marks after the revaluation. As a matter of policy, ICAI does not reduce marks after revaluation. There are two chances after the procedure for revaluation: one is no change of marks, and the other one is an increase in marks. The marking system has negative markings for objective-type questions and no negative markings for subjective types of questions. Marks disappoint the students as they contribute to the pass and aggregate marks. Total mistakes and correction mistakes happen because of weary work. This blog of RR Academy answers the FAQs verification of marks to evaluate the right marks.
When to apply for revaluation?
The application should reach the institute within a month of the result declaration. The revaluation fee for intermediate and final levels is 100 to 400. The fee for the foundation level is 200. The website has a physical application form to download. The filled-in application form must be sent through registered post or speed post. The address is as follows: The institute of chartered accountants of India, ICAI Bhawan, IndraprasthaMarg, New Delhi 110 002. The institute allows for the verification for one time. So, it is not possible to do multiple revaluation applications. The medium of examination, email address, phone number, and papers to be verified must be filled by the student. The data entry screen will appear in the application form. It is mandatory to apply with a signature to the online portal. The candidate will receive written communication from the institute as an acknowledgement.
Regulatory provisions about verifications:
Regulation 39(4) of the chartered accountant’s regulations 1988 – contains the regulatory provisions regarding the verification. The institute provides guidance notes about the verification forms when issuing the exam application form. The students can check the details on the website also.
The verification takes around six to eight weeks. If the candidate waits till the next examination, he can remind the exam department regarding the verification process with an e-mail. If the verification process ends with a change in the mark, the student gets a refund of the verification fee. The student receives the exam fee for the next examination if he had applied for the next examination before the result verification. The details in the verification form are as follows: Student name, Registration number, Exam-intermediate, Roll number, month and year of the examination, subjects to be verified, and communication address. In the physical and online mode, the application must have a signature.
Does revaluation give positive results?
Negative marking is for the objective type of question papers. At the CA foundation level, mathematics and Economics fall under this category. Accountancy and Business law consist of a subjective type of questions. So, there is no negative marking. The marking system makes the subject practical and tough. If students lose aggregate marks in mathematics and economics, they apply for revaluation. The intermediate and final levels also have negative markings for the objective type of questions. The positive result will help for appearing in the next level of examination. The revaluation process checks the following issues: total mistakes, total marks summed up on the cover page if any answer is missed for valuation, mark mismatch, and compilation of answer book. If there is a change in the marks, the fee is refunded by the institute. It provides positive results to the student. If the student is fully confident about the marks, he can apply for the revaluation. It is allowed for only one time. This revaluation works as a bridge for filling the marks. After getting results, students tend to do the revaluation and then appear for the next level of examination.
ICAI president wishes to make the CA foundation as hard:
In a recent statement, the ICAI president said that to enter into the intermediate and final level with confidence it is essential to filter the student from the foundation level itself. The pass percentage of the professional courses like CA, CMA and ACS are tougher to release the top professionals to the job market. He says this is because of the changing job roles in the finance industry. Chartered accountants these days need knowledge of data analytics, technology, sustainability reporting and forensic audits. A high degree of aptitude is essential to understand reporting, forensic auditing and technological advancement. The foundation level tests the aptitude of the students. The passing mark is about to change. The intermediate and final levels convert the basic level of knowledge to advanced level knowledge. Chartered accountants are the nation builders. They ought to be the best of the other professionals.
How to prepare for CA exams?
The 2022 examination is offline. And the online mode of examinations is about to be over. The slogan of the CA course is already known to the students. Yes, it is preparing with a learning strategy. RR Academy provides the revision and model test after analysing the difficulty level and new topics from the syllabus. Some of the learned learning tips are as follows:
• Study regularly.
• Create a timetable for the exam preparation before one month.
• Prepare for two groups in case of intermediate level and final level.
• Take care of your health. Sleep adequately and reward yourself with easy tasks for completing a difficult task. This practice will make the learning interesting.
• Revise more than three times.
• Develop self-confidence with meditation.
• Write your notes for the subjective subjects.
• Practice with revision tests and time-specific question papers for the objective type of questions.
• Complete the syllabus and also understand the question paper pattern of the past five years.
• Think about the positive results and try to change the negative into positive ones.
Final Words:
Verification is for awarding the right marks. The marking system and revaluation system create professionals with intense care. The demand and supply of finance professionals are as per the institute’s guidance. ICAI produce professionals as the best around the globe. Chartered accountants work for the betterment of auditing practices in India. They also work in foreign countries and promote the auditing profession.
