IMPORTANCE OF THE ICAI EXAM AND EXPECTED REGISTRATION SCHEDULE FOR THE YEAR 2020
Certain exams help shape the future of those who are in the accounting stream. Out of them, the ICAI exam holds a crucial point. The ICAI or Institute of Chartered Accountants of India is solely responsible for fixing and setting the SA’s or the Standards on auditing which are to be used for the audit of all financial statements in India.
More commonly known as the CA exams, the ICAI exam is responsible for producing and qualifying potential students who wish to be charted accountants in India. The ICAI exam is considered as one of the most difficult exams to crack by students who wish to become chartered accountants in the future.
Importance of the ICAI Exam.
There are several reasons for which ICAI has always retained its importance.
- Conducting test: the ICAI is tasked with the responsibility of conducting various examinations to test the aspiring students in their knowledge of auditing and accounting.
- Handing certificates: Only the ICAI exam authorities have the power to hand out certificates for Chartered accountancy to those who manage to pass the ICAI exam with flying colours.
- Test the capabilities of students: Having the responsibility of legalising new students to practise chartered accountancy, the ICAI exists to ensure that only those who are capable and have the right potential ca pass the test and become professional chartered accountants.
ICAI Exam Schedule for the year 2020
The CA exams take place each year,and students who wish to apply for it must have their ICAI registration done accordingly while being able to practice and study for it in a well-paced manner. Each year, there is3exams for which applying candidates must attend after doing their ICAI registration.
- The Foundation Exam
- The Intermediate Exam
- The Final Exam
Each of these exams is to be given one after the other.
Those sitting for the exams should ensure that they manage to complete the registration for the subsequent ICAI registrations on time. The following are the final date for the three ICAI exams registrations for the year 2020:
The Foundation Exam- 31stDecember 2019
The Intermediate Exam- 31st August 2019
The Final Exam- 28th February 2020
Dates for the ICAI Exams
The following are the dates and periods, forwhich the ICAI exam 2020 will be held for which the students must appear for after completing the corresponding ICAI registration.
|The Foundation Exam||First week of May 2020|
|The Intermediate Exam (group 1 + 2)||First week of May 2020|
|The Final Exam||First week of May 2020|
Result: After the exams, the results of the ICAI exam 2020, is speculated to be released sometime in the mid of July 2020. In includes the results of all three exams.
The specific dates for each of the ICAI exams and the exact date of the results have not been declared as of now. Those who wish to apply and sit for the exam in the year 2020 should ensure that they complete their ICAI registration by the above mentioned month.
Note- similar to the preceding year 2019, those who fail to complete the ICAI registration 2020 for the three exams may get an extension. With the inclusion of a late fee, the applying candidate can still be able to do his or her ICAI registration for whichever registration they may have missed.
This date of the extension has not been released. Applying candidates will be able to get further information during the month of registration of the corresponding exam.