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The CA Foundation exam replaced the CA-CPT exam and now is conducted by the Institute of Chartered Accountants of India (ICAI) twice a year. After the CA Foundation exam, students need to complete the Intermediate and Final levels as well to become a chartered accountant.
He can register and clear the CA Final exam after completing of CA Intermediate exam. He will be eligible for ICAI membership after the completion of the required examinations, trainings, and Articleship period. He can start practicing as a chartered accountant only after getting membership post registering with ICAI.
ICAI is the second largest professional accounting body in the world in terms of number of membership and number of students after the AICPA. [7] It prescribes the qualifications for a Chartered Accountant, conducts the requisite examinations and grants Certificate of Practice .
The CPT or Common Proficiency Test was the first level of Chartered Accountancy examinations in India which has been changed to CA Foundation according to ICAI's revised scheme.
In order to become a member, a candidate requires an undergraduate degree plus experience and, depending on the province, additional education. Candidates in all provinces are required to pass the three-day Uniform Evaluation (UFE) now Common Final Examination (CFE). [11]
CA Intermediate is the second level exam, of a course in India, Chartered Accountancy. It has six subjects and over 7000 pages of study material that a student is expected to cover in the nine months study period allotted to them.
In August 1989, the Institute of Chartered Accountants of India (ICAI), the national statutory body for professional accounting, imposed restrictions on its members on the use of the designation of `CFA' awarded by the Institute of Chartered Financial Analysts of India (ICFAI).
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Forensic Accounting and Investigation Standards by ICAI are a set of Forensic Accounting and Investigation Standards issued by The Institute of Chartered Accountants of India (ICAI) for preventing the rising issues of accounting, financial and loan irregularities.
The requirements for receiving the CPA license vary from state to state, although the passage of the Uniform Certified Public Accountant Examination is required by all states. This examination is designed and graded by the American Institute of Certified Public Accountants (AICPA).