#ICAIReforms - Dear ICAI Please Change

#ICAIReforms has again become a topic of fierce debate

Is everyone who fails, a victim of poor evaluation process - No

But certainly, there are deserving students who have failure thrust upon them because of the careless checking. When the suggested answers matched with your certified copy and you still dont get the marks, you have every right to feel cheated

In the manual method, however, there will be issues

Asking working professionals to come to the centralised centres also doesnt help -

ICAI empanels

a) CAs with 4+ yrs
b) University Lecturers/Professors with 5+ years \
c) CWA, ACS, M.Com, Post Graduates in Economics or Law, Lawyers, IT Professionals, MBA (Finance) etc with 5+ yrs exp

Now asking that person to come to a centralised hall for 25 days * 8 working hours = 200 hours to properly evaluate a lot of 400 scripts ( assuming a standard time of 30 minutes for 1 script) is also possibly quite an issue. How will the professional justify this disruption to his/her boss.  And the remuneration of 50k or so for this exercise might then not compensate.

Calling all examiners as criminal , destroying the future of kids is quite wrong;. Students also often attempt the paper in a scattered manner, beat around the bush and have difficult to read handwriting also. Under strict timelines, errors happen.

In the past, people delegated this to articles for this very reason

I fail to understand why ICAI doesnt shift to Computer Based Evaluation, just like CAT/GMAT/CPA/ACCA/CFA. This will completely eliminate the human error or delegation aspects

You can increase the frequency of exams.

Maybe the curriculum will need to be changed as you cant evaluate one's ability to memorise tax case laws,  Black Scholes formula or formulas of Standard Costing here. In the Google environment, is it actually required? You can have task based Simulations, say for filing returns. So if you are a dummy article, you will fail :)

You dont even need to scale the results, which is quite tragic. Make the course have a Difficult to Enter one, allow only quality students to enter. taking the excuse that you have 15 lac copies to examine every term is not tenable.  Are you making so many students enter only because you want a steady supply of low cost articles to CA firms, at less than market prices; else the firms may not be economically viable.

Restrict attempts to say 5, like UPSC.  Have a fixed number of people who clear every term - say x percentile above being called for Personal Interview and top 10,000 selected to be CAs

CA is a wonderful course - least influence of money, India's highest ROI course, a CA never goes hungry, mostly you start with 6-8 lacs p.a. salary

Only these issues, if ironed out, will further add to the glory of our Dear ICAI

#ICAIReforms - Dear ICAI Please Change