After completing the Intermediate-level CA students undergo article ship training. The dream of many CA students after the CA intermediate level is to get trained by a Big Four firm. The students prefer to work for two years in the statutory audit department. The statutory audit experience helps in understanding the crucial part of auditing. The students wanting to do independent practice after the CA final must have experience in statutory audit. In some companies, the statutory audit is given allotment to intelligent students. The students with normal marks get tax audits. Tax audits and statutory audits have different experiences. Tax audits insist on the accuracy. Statutory audits insist on accuracy, corporate governance, and independent review. After gaining valid corporate experience, the students take coaching for the CA final. The students start learning for the self-paced examination after the intermediate at their own pace. The four subjects offered in the self-paced CA examination are specialised electives, economic laws, strategic cost management and performance evaluation and incorporating the multi-disciplinary approach envisaged in NEP2020. ICAI had appointed subject matter experts to understand the different fields in the self-paced examination. The blog highlights the following points: the interest of the subject matter experts, the difficulty level of the self-paced CA examination and the advantages of learning the self-paced CA examination. The blog highlights the effort of ICAI for the subject in the self-paced CA examination and question bank. The subject matter expert wants to initiate the diversified learning habits of the students.
The interest of subject matter experts:
The first examination of the new scheme is in May 2024. Passing of Set A and B is compulsory for candidates to write the CA final examination. Set C and D can be completed even after the final level examination. The candidates should sign the declaration for non-conflict of interest to join hands with the examination department to share their ideas about the questions. The education inputs students require to get through the examination are as follows: study material, revision test papers, mock test papers, live learning classes, MCQ and case study-based MCQ questions, suggested answers, subject-specific capsules, multi-disciplinary case studies, and Saransh – the last mile reference giver. The learning and evaluation of the self-paced examination are through online mode. ICAI is calling for experts to join ICAI for providing live learning classes, e-lectures for self-paced modules, development of study material, and review of study material, subject-specific objective type questions and case study-based MCQ and development of learning sources for the multi-disciplinary case study. The chartered accountants and other subject matter experts can show the expression of interest through the link given as Google Forms by ICAI.
Difficulty level in the self-paced examination:
The self-paced examination has four Sets. The following points explain the hard part of the subject and how the difficulty contributes to student’s intelligence. The students receive e-books and physical books. The students also receive video lectures from industry experts through the digital learning hub. Set C has the specialised electives. The subjects in the electives are risk management, sustainable development and sustainability reporting, public finance and government accounting, the insolvency and bankruptcy code, 2016, international taxation, the Arbitration and Conciliation Act, 1996, valuation, forensic accounting, capital markets and financial services, forex and treasury management. The ICAI organises the learning time and QA sessions. The ICAI organises the learning time and QA sessions. Set C also provides the following generic subjects as special electives: psychology and philosophy, the constitution of India and art of advocacy, entrepreneurship and start-up ecosystem, and digital ecosystem and controls.
The other subjects are economic laws, strategic cost management and performance evaluation and incorporating the multi-disciplinary approach envisaged in NEP2020. The self-paced modules focus on how the students think. The other subjects focus on what the students think. The other CA subjects evaluate the students based on knowledge. The self-paced examination evaluates the students based on socialisation, moral aspects, emotional intelligence, intellectual thinking, and aesthetic thinking. The students find the self-paced examination as a break from tiresome work. The students find the subjects close to the working environment. The difficulty level of the self-paced CA examination is moderate. The students find it easy to clear after the intermediate level. The students must secure fifty marks to pass the self-paced examination. The following points elucidate the advantages of a self-paced CA examination.
- Self-paced examinations enhance the technical knowledge of the students.
- Self-paced examinations enhance the research skills of the students.
- Self-paced examinations enhance the writing skills of the students.
- Self-paced examinations enhance the reading skills of the students.
- Self-paced examinations enhance the general knowledge of the students.
- The self-paced examination helps the chartered accountants to decide after thinking about similar case studies.
- The students understand risk management, reporting, insolvency laws, capital markets and international taxation with practical exposure. It enhances the application knowledge.
- The students prepare themselves for the international jobs. The self-paced examination evaluates the individual passion of the students. After attending the self-paced online examination, the students find it easy to clear the interview of foreign companies.
Conclusion:
The self-paced examination is the taste of multiple subjects on one single plate. The students with auditing knowledge chose insolvency, risk assessment, entrepreneurship and digital eco-system as an additional course. Students with auditing knowledge work in auditing firms. Students with specialised knowledge work in banks, insurance companies, the stock market, IT Companies and the manufacturing sector. So, the specialised knowledge is for the students wanting to go for a job option. The self-paced examination prepares the students for the job market and international interviews.