Institute of Chartered Accountants of India (ICAI) is mulling over bringing about some changes in the chartered accountancy  course syllabus, ICAI president Uttamprakash Agrawal said on Wednesday.

"Indian chartered accountants are capable enough not just to fight the economic downturn, but also guide the world on how to come out of it," he said.

Nearly 4.50 lakh students are imparted the training by this institute which is the second largest accountant body in the world. Keeping in view the interest of its members, ICAI has also signed MoUs with Institute of Chartered Accountants of England and Wales.

ICAI is mulling over changes like induction of Computer Aided Audit Technique (CAAT) , International Financial Reporting Standard (IFRC), Value Added Tax (VAT) and specialisation in taxation, management accountancy and internal auditing in its syllabus.

Ahmedabad chapter of ICAI has 20,000 CA students of which, 20 per cent are going to pass out this year. Talking about how recession will effect these students, Sanjay Shah, chairman of Ahmedabad branch said, "We produce quality students who can develop the skills to get absorbed even during this economic downturn".