Imagine being a CA Final student, juggling a demanding job and rigorous studies for upcoming November exams.
After a long day at work, you finally sit down to study when suddenly your phone buzzes with a notification: 'Press Release: The Institute of Chartered Accountants of India (ICAI) is all set to conduct CA Final exams thrice a year, in the months of January, May and September'- thereby removing the traditional November attempt.
Just moments ago, you were about to study and now your mind races with multiple questions: If there's no November attempt, then which? January or September? How will you adjust your preparation?
This news, released on the evening of 27th March 2025, sparked widespread discussions about the consequences of ICAI's decision amongst netizens.
This abrupt notification not only disrupts the CA Final students' schedules but also raises an important question: Will this change provide more opportunities and offer greater flexibility to students, or will it impose undue pressure on students and professionals?
To determine this, we must first look at the opportunities and benefits it provides, followed by the challenges it imposes.
Opportunities and Benefits
From increased flexibility in attempting exams to faster career growth, this revised exam schedule for CA Final students has it all; let's explore this further:
1. Better Alignment with Festive Schedules.
Earlier, many students residing in different cities for their Articleship training, were unable to spend the festive season with their families – especially during November, when Diwali is celebrated.
With the introduction of exams thrice a year, a student can now opt for a January or September attempt, providing a gap of just three to four months from the traditional November schedule.
2. More Attempts Mean More Opportunities to Claim Success
In the traditional exam cycle of May and November, unsuccessful students had to wait for a long duration of six months, before they could reattempt the exam.
However, with the new schedule, the next attempt will be available within just three to four months, significantly reducing the waiting period and allowing students to progress faster.
3. Accelerated Path to Professional Success for Youngsters
With an increased number of attempts available at the final level, students who clear the Foundation and Intermediate stages early but struggle with the final exam, now have the chance to reattempt multiple times.
This flexibility significantly increases the likelihood that these young students can eventually clear the Final level at an early age, paving the way for their early entry into the professional world.
Young professionals possess a strong grasp of current laws and regulations, as well as the latest taxation provisions, which ultimately benefits both the CA fraternity and the economy as a whole.
4. How do increased CA Exam Attempts at the final level benefit everyone?
The increase in number of exams at CA final level, will help both CA Members and students.
For students
Earlier, many students have abandoned their CA journey at the final level, due to repeated failures. With three attempts now available, students are more likely to persevere and continue trying.
Furthermore, the availability of more attempts may attract students who might have otherwise opted for other professional courses.
For CA members
Having young professionals join the field offers CA members an opportunity to learn from fresh perspectives and innovative approaches.
This arrival of new talent will not only enhance individual growth but also contribute to the overall advancement of the CA profession.
Overall, this move is poised to drive exponential growth for the CA course, positioning it favourably compared to other global professional courses.
In a nutshell, the triannual exam schedule not only provides greater opportunities and flexibility to students for attempting exams, but also uplifts CA fraternity as a whole.
Challenges and Disadvantages
Despite its many advantages, the triannual exam schedule does come with a set of challenges affecting both students and CA professions.
To understand the full impact of this change, let us now further examine its potential drawbacks.
1. Rushed Evaluation
With the increase in the number of exam attempts, there will be pressure to deliver results as quickly as possible, so that students can immediately start preparing for their next attempt if they are unsuccessful.
Consequently, the large volume of papers that ICAI will evaluate, may pose a significant challenge, potentially leading to rushed evaluations and compromising the accuracy of results.
2. Pressure to complete SPOM and Advanced ICITSS
The Self-Paced Online Modules (SPOM) and Advanced ICITSS Training are compulsory for CA final students to complete before appearing in the final exams.
These exams and training were originally designed to be completed at the student's convenience.
However, due to the implementation of the new exam schedule, a student who was planning to attempt November 2025 exams and is now considering the September 2025 exams, must expedite the completion of these requirements to focus on exam preparation.
Previously, students had the flexibility to begin these, gradually after getting a start on their studies, but now many find themselves in a dilemma.
Furthermore, it is noteworthy that even before this change, there was limited availability of SPOM exam centres and time slots.
With this new change, a surge in demand for SPOM exams is expected, further creating the scarcity of available exam centres and timings.
Ultimately, this shortage could adversely affect students who need to complete these requirements.
3. Less Preparation Time
With attempts now scheduled three times a year, with a gap of three to four months, results will be expected to be released within a month or less.
This tight turnaround leaves students who are unsuccessful previously, with just about two months to prepare for the next attempt, which can be challenging for Final level exams.
For instance, if a student takes his first exam in September 2025, his result must be declared by the end of October. If he is unsuccessful, he will have only about two months to gear up for the next attempt in January 2026.
4. Reduced effort in students
With more attempts available, students might become less serious about their first attempt, leading them to put in less effort.
Over time, this relaxed attitude could result in lower performance and even a shift in behaviour, ultimately affecting their results.
5. Job Market Difficulties
This is one of the most discussed cons of the Revised CA Exam Attempts.
Before we discuss further, let's have a look at the stats of last two placement programs organised by ICAI.
(Source: https://cmibplacements.icai.org)
From the above figures, we can see that in the 59th placement, only 3,002 out of 6,888 participants received job offers - just 44% of the total, meaning that 56% went without a job offer.
Furthermore, in the latest 60th placement, only 4,783 out of 15,266 participants received job offers - just 31% of the total, meaning that 69% went without a job offer.
The proportion of candidates securing a job relative to the total number of applicants is truly alarming.
While the job market continues to decline, the growing number of applicants with each attempt is a concern that ICAI must address.
Moreover, since many companies hire only once in a year, opportunities for candidates become even more limited.
Even when candidates secure a job offer, many are dissatisfied with the packages, leading to decreased self-belief and increased frustration among freshly qualified CAs.
In a nutshell, the triannual exam schedule provides several challenges from compromising result accuracy to limited hiring opportunities.
In conclusion, and as per the analysis above, it is clear that while the exam schedule provides exciting opportunities for CA students, it also has substantial risks that may impact the overall quality of future professionals.
Final words
While there are several disadvantages widely discussed within the CA community, my personal views are:
- Yes, it is acknowledged that while this change will increase the number of professionals in the industry and create initial challenges for fresher CAs in securing a job, it will not affect their long-term growth.
- Their growth is totally dependent on their skills and hard work.
- Each CA Final attempt produces a fresh batch of qualified CAs, but this does not endanger the prospects of experienced CAs, since they have already established themselves as experts.
Thus, instead of panicking over the increase in the number of CAs or blaming anyone, newly qualified CAs and CA aspirants should focus on strengthening their skills and expanding their knowledge – ensuring that nothing stands in the way of their professional growth.
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