According to the sources, the Institute of Chartered Accountants of India (ICAI) is going to abolish the Common Proficiency Test (CPT) entrance exam for CA aspirants from November, 2016 and the Foundation course will reinstate. This is socking news for those candidates, who are preparing the CPT exam.
The president of ICAI Mr. Devaraja Reddy said, “From November onwards the CPT examination route will be scrapped as the Ministry of Corporate Affairs has given its approval. It is now lying with the Ministry of Law and Justice.”
Why is ICAI going to scrap the CPT exam?
As per the ICAI, the entire curriculum is being revamped, therefore the ICAI wants to makes a single entry accounting system for various government accounts instead of double entry. In result, the accounts of the government departments will more transparent.
The CPT exam was held for the class 12th pass out candidates. Earlier, the CPT exam was of 200 marks, but now Foundation course would be 400 marks for 12th class pass outs.
Now the ICAI will offer new rule for admission in CA direct, You can enrol directly in CA course, if you score 55 percent marks in B.com and 60 percent marks in B.Sc or B.Tech.
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The new change from CPT to CA Foundation is definitely going to help students a lot. New scheme gives important value to objective as well as subjective skills. The effect of it can be seen in This year June CPT 2017 results.
Very important topic and you just did an amazing job presenting it in a simple and clear manner.
This will definitely not happen, it’s better to carry on with your CA CPT preparations, try konceptca!
this is not a valid reason i guess.