I have commented the following elsewhere also.
1. The aprenticeship approach of learning a skill/profession is the ancient method, now mostly replaced by rigrous classroom studies. All professions - engineering, medicine, management, (even electrician) have shifted to classroom study and examinations followed by a shorter intensive practical training. Those who demean the college time as wasted time fail to understand the important life and professional skills imparted by the passage of time with peers or friends, competeing, collaborating, organising, having fun, plotting and simply being comfortable with others.
2. The poor ratio of students finally qualifying versus those enterting the course does nothing to enhance the stature of the profession. Lakhs of BE or BCom + MBAs have taken up the Finance jobs that CAs could have got. And many of these MBA routes are out performing their CA collegues, putting to shame the "articleship" grind and the so called tough course.
3. The poor success ratio only shows that the entry gate is loose. It is not matched with the "end in mind". Or the purpose is to bring in a large virtually free labour force to do articles work at much below the minimum wages to sustain the auditing industry. This concept of paying low because you are training is odd. There is no escaping that in every job you have to train. Try paying below mainimum wages in industry and you attract penalty.
4. Many colleges today are allowed to offer variety of options. BCom colleges can provide a dual degree option. Do the regular exams and you get BCom over 3 years time. Additionally , appear in the CA exams and pass to qualify as a CA. After the three year of college and passing all the exams (in a limited time, say 4 years) a student qualifys for 1 year practical training before getting his membership. This ensures the benefit of college time, a ready backup degree if you do noy qualify, and sufficient practical training to take off in the profession.
5. There can be a parallel route of qualifying for those who could not pursue college but had to jump into work to for e conomic reasons. This can be similar to the methos today but with shorter practical training.
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