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The full form of ICAI is the Institute of Chartered Accountants of India. It is India's largest professional accounting body and comes under the administrative control of the Ministry of Corporate Affairs.
The Institute of Chartered Accountants of India was established on July 1, 1949, as a statutory body by an Act of Parliament for regulation and development of the profession of Chartered Accountants in India. It is responsible for regulating all CA institutes in India. It functions under the administrative control of the Ministry of Corporate Affairs of the Government of India.
The ICAI India has established itself as the top accounting organization in India and around the world for upholding the strictest standards in technical and ethical fields as well as for examination and education standards. The Chartered Account profession has experienced exponential growth in terms of both membership and student base since ICAI was established in 1949.
ICAI has the following functions:
The ICAI Exam is also called the CA exam. As you can already imagine, this exam is conducted by the Institute of Chartered Accountants of India (ICAI) for those aspiring to become chartered accounts in India. The CA qualification is equal to a postgraduate degree according to the University Grants Commission (UGC).
ICAI exam in three different levels according to the CA courses. All the course levels of the ICAI exam need to be cleared by a candidate in order to become a certified Chartered Accountant.
Here are the three levels of ICAI Exam:
ICAI CA Foundation Registration process includes online registration for ICAI exam, duration of study, CA admit card download and showing up for the ICAI exam. After the ICAI CA foundation level is cleared by a candidate, they move to CA Intermediate level. The CA foundation result is generally announced two months after the ICAI CA Foundation exam is conducted.
Here is an overview of the process of ICAI Exam:
Step 1: Application for ICAI CA Foundation Registration
Candidates are required to register for the ICAI CA Foundation course at the ICAI website. Once the study duration for the course is completed, they have to fill out the ICAI exam application form. The ICAI exam is conducted in three phases: June, September and December.
Step 2: Downloading Admit Card for ICAI CA Foundation Exam
The admit card for ICAI CA Foundation exam is released online around fifteen days prior to the exam schedule. It is necessary for the candidates to download their admit card for ICAI CA foundation exam to be able to appear in the exam.
Step 3: Appearing for ICAI CA Foundation Exam
CA Foundation exam is conducted in online mode at designated examination centers twice a year. (May-June and Nov-Dec). However, from this year, it’ll be conducted in the month of September as well. The students are allotted the examination centers based on their preference stated in the ICAI exam form. Candidates must appear for all 4 papers of the CA foundation exam to clear this level.
Step 4: Downloading Result and Registering for CA Intermediate Exam
The result for CA foundation ICAI exam is generally released in two months after the exam. Once the CA foundation exam is cleared, the candidates must register for the CA intermediate level exam. If a candidate fails to clear the CA foundation exam, they must re-register for this exam in the next phase.
ICAI study material can be accessed on the official ICAI portal free of cost.
The Institute of Chartered Accountants of India (ICAI) offers ICAI Campus Placement Programme twice every year, in January and September. It serves as an invaluable platform for the newly qualified CAs in the country.
ICAI is a crucial institution for the CAs in India. It is responsible for conducting exams for those who want to become Chartered Accountants in India. Also, it is responsible for granting the Certificate of Practice to its members. Further, it creates a code of ethics which needs to be followed by every ICAI member.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.
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