Certain topics eliminated from November CA final exam syllabus
As per several reports, the Institute of Chartered Accountants of India (ICAI) has released a list of topics that will be excluded from the Chartered Accountant (CA) Final exam, which is scheduled in November 2019. Reportedly, the notification was published on June 24. A detailed list of all the eliminated topics is available on the official website of ICAI. Read on for details.
The curriculum for CA Final examination is divided into two groups (I and II) with four papers each. Here is the list: Group I Paper-1: Financial Reporting Paper-2: Strategic Financial Management Paper-3: Advanced Auditing and Professional Ethics Paper-4: Corporate and Allied Laws Group II Paper-5: Advanced Management Accounting Paper-6: Information Systems Control and Audit Paper-7: Direct Tax Laws Paper-8: Indirect Tax Laws
A total of seven topics have been eliminated from Financial Reporting including Application of existing accounting standards, i.e., AS 15, 21, 23, 25, 27 and 28, Application of Guidance Note and Accounting for E-Commerce Business related Guidance Note. Also, those planning to attempt the exam this November wouldn't have to study Human Resource Reporting, Value Added Statement and Expert Advisory Committee (EAC) Opinions.
However, with regards to the eliminated topics from Paper 1, the notification also stated, "The Guidance Note on accounting for expenditure on Corporate Social Responsibility activities falling within the scope of topic 13 of Syllabus Contents continues to be applicable."
While only three topics have been excluded from Strategic Financial Management, a total of 11 topics, including Special Audit Assignment, have been eliminated from Advanced Auditing and Professional Ethics. The three topics excluded from Strategic Financial Management paper are Indian Financial System, International Financial Centre and Small & Medium Enterprises. Meanwhile, several sections from seven topics have been eliminated from Corporate and Economic Laws.
Moreover, Quantitative Analysis, Banking Management and World Trade Organization (WTO) topics are deleted from Risk Management, Financial Services and Capital Markets and Economic Laws respectively. In addition, eight topics have been eliminated from Indirect Tax Laws' Part II i.e. Customs & FTP. "These exclusions are relevant for Final (Old) Paper 8: Indirect Tax Laws as well," read the official notice of ICAI.
Apart from this, the other excluded topics include Code of Ethics and several Guidance Notes. To name some, Guidance Notes on Independence of Auditors, Audit of Inventories, Audit of Debtors, Loans and Advances, Audit of Investments and Audit of Cash and Bank Balances are excluded.