Taking a leaf from the management schools, the Institute of Chartered Accountants of India (ICAI) is all set to include case studies as part of its agenda to test the application skills of the students. The institute also plans to offer accounting technician courses to the middle east countries.
"We will re-orient the examination system for Chartered Accountancy (CA) students in a manner that can test the application skills of the students. We will include case studies, where the students will be asked to apply what they have studied.
This is to eliminate the mug-up system and correct the balance by putting more emphasis on intelligent and efficient application of knowledge acquired by the students, who have always been good in theory. While we have partly implemented this change in the current year, we will revise the study module and bring out practice manuals by the end of this month," Amarjit Chopra, president, ICAI said during a press conference in Ahmedabad today.
The institute has inked a memorandum of understanding (MoU) with Abu Dhabi for setting up an institute for accounting technician course. "We have signed an MoU for setting up accounting technician institution in Abu Dhabi and providing the course in Dubai and Muscat," Chopra said.
The Ahmedabad Branch of ICAI and its members have offered to become the knowledge partner of the government of Gujarat and render immense services in multi-faceted areas of various projects undertaken by the government.
"We are keen to become the partner in growth of the state by bringing in financial discipline through offering to conduct accrual accounting in various areas. We met Gujarat chief minister Narendra Modi today and he is favourably inclined for the same.
We also want to be part of Gujarat International Finance Tec-City (GIFT) for training of various financial courses," Chopra added. ICAI is one of anchor investors who had earlier expressed willingness to take up space in GIFT as part of an MoU signed in 2007.
The institute is also planning to start its own coaching classes in a bid to save time and money of students pursuing the CA programme. The coaching would be provided by the faculty members through virtual and physical medium. ICAI plans to use its five regional headquarters and 127 branches to impart coaching to its CA students.
"The idea is to help reduce stress on students who are towards completing their articleship along with their studies. And we plan to subsidise the charges for the students, say, if a private tutor charges Rs 30,000, we will charge Rs 10,000," Chopra said.
As part of its information technology (IT) initiative, the institute is also working towards making all the forms available online and facilitate more virtual classrooms. The institute has also launched an e-library for making the accounting and auditing standards available online.
In order to enable the government to meet the International Financial Reporting Standards (IFRS) deadline, ICAI will organise one or two day workshops at 55 centres across the country beginning April 29. Under an agreement signed with Central Bureau of Excise and Customs (CBEC), ICAI will provide facilitation centres across the country for e-filing of returns and documents to the central excise and service tax assesses.
The institute has 6.20 lakh students on roll today.