ICAI Plans To Transform CA Course With Technology-Driven Subjects

The Institute of Chartered Accountants of India (ICAI) plans to bring major changes in its curriculum, which means students preparing for Chartered Accountancy (CA) in India may soon have to study new subjects like artificial intelligence, data analytics, ESG, and sustainability.

ICAI has formed a new committee named the Committee for Review of Education and Training (CRET), which will examine the existing CA syllabus, training structure, soft skills, and examination system. This committee will complete its recommendations till December, after which proposals will be opened for public feedback.

Prasanna Kumar D (ICAI president) said that these changes are important as technology is rapidly changing the accounting profession for both jobs and practice.

Prasanna Kumar D said in an interview with PTI, “We have formed the CRET. It is working to review the entire curriculum, like what syllabus and subject need to be changed and training (articleship).”

He also said, “For an engineer, AI is a separate subject, but for us, AI is not a subject, but without AI, no chartered accountant can survive. Be it in employment or in practice, AI is a must.”

These changes could mean a shift away from old and traditional accounting, as the new revised syllabus will focus more on technology-based learning. In the future CA students may not only see changes in the syllabus but also in the way training and examinations are conducted.

ICAI also mentioned that in the past few years, the accountancy sector has had more demand for professionals with knowledge of forensic auditing, ESG disclosures, and digital financial systems. The new changes are also aimed at preparing students for these requirements.

The institute had earlier introduced the New Scheme of Education and Training in 2023. According to Prasanna Kumar D, the updated curriculum is likely to be implemented from 2028.