The common proficiency test (CPT) conducted by the Institute of Chartered Accountants of India (ICAI) today morning was cancelled later in the day owing to a paper leak at two examination centres.
News of the paper leak broke in the morning when the exam had already started. The exam, however, continued for the second session.
An emergency meeting of the examination as well as the executive committee called by ICAI President Sunil Talati later decided to cancel the examination and rescheduled it for August 26.
CPT is the entrance examination for those aspiring to be chartered accountants and is conducted by the ICAI, the regulatory body for the profession. Leak of the question paper of one of the toughest exams in the country had created panic among examinees in the morning.
The leak, as of now, has been detected at only two centres. Talati had earlier said the examination would be reconducted at the two centres if the leak was confined to them. However, the ICAI cancelled the entire examination as a leak from other centres was not ruled out.
We are shocked and will look into the incident thoroughly, said Talati. We will find out about it in detail.
The decision will impact around 82,000 students who took the test today, at 203 centres both in India and abroad. The examination centres abroad include those in Abu Dhabi and Kathmandu.
A high-powered committee has been appointed to investigate the matter and take preventive measures.
Talati said the credibility of the examination was at stake and strict action would be taken against the offenders.
According to sources, the institute spends around Rs 200 per student in conducting the examination, which means a direct revenue loss of Rs 1.64 crore. Apart from this, there is indirect expenditure. However, the concern is only the reputation of the institute, he said.
Talati alleged the involvement of the centre superintendent and clarified that the person concerned was deputed from the centre where the exam was scheduled. He has nothing to do with the ICAI. But in case any involvement from the institute is detected, we will take strict action, he said.