A minor inconvenience happens and we blame the ICAI. Don’t we? And meanwhile, the ICAI be like:

But what do we do when the very same Institute takes a step ahead in improvement? Do we appreciate it? Not much. So, let’s see what the ICAI has done that demands at least some appreciation. On 24th August 2019, the ICAI announced concerning the “Development of Case Studies and Case Scenarios”. Now, what does this announcement say? Let’s get straight to it, now. Shall we? We know that Paper 6 of CA Final Course (New Syllabus) is an Open Book Examination and it is entirely Case Study based.

“Further, in certain core papers at the Intermediate and final levels, integrated Case scenario-based assessment is being introduced to assess higher-level analytical skills.”

In other words, this means that the ICAI has introduced a Case Study based assessment in some papers of CA Intermediate and CA Final. Therefore, for this purpose, the ICAI invites experts in different subject areas. So, this invitation is for them to express their interest in contributing to the development of Case Studies and integrated Case Scenarios. Also, the ICAI has laid down the guidelines for the development of Case Studies and integrated Case Scenarios.

Case Studies in Elective Papers at the Final level:

  • The papers for which the Case Studies need to be developed are:
  1. Risk Management (Paper 6A)
  2. Financial Services and Capital Markets (Paper 6B)
  3. International Taxation (Paper 6C)
  4. Economic Laws (Paper 6C)
  5. Global Financial Reporting Standards (Paper 6E)
  6. Multi-disciplinary case study (Paper 6F)
  • The length of the case study should be 4 to 6 pages.
  • Each case study should comprise of MCQs and descriptive questions. 
  • Each MCQ should have four options. Out of which there should be only one correct answer.
  • The remuneration for the development of each case study would be Rs.5,000.

In addition to the above guidelines, the link for the sample Case Studies has also been provided:

https://www.icai.org/post.html?post_id=13635

Integrated Case Scenarios at the Intermediate and Final levels:

Intermediate Level:

Paper Subject
2 Corporate and Other Laws
4 Taxation
6 Auditing and Assurance
7 Enterprise Information System and Strategic Management

Intermediate (IPC) Level:

Paper Subject
7 Information Technology

Final Level:

Paper Subject
3 Advanced Auditing and Professional Ethics
4 Corporate and Economic Laws
6 Information Systems Control and Audit
7 Direct Tax Laws and International Taxation
8 Indirect Tax Laws
  • Integrated case scenarios should comprise of a case scenario.
  • It should be followed by 5 to 6 MCQs.
  • These MCQs should be based on the said case scenario.
  • The length of the case scenario should be 1 to 2 pages.
  • Each MCQ should have four options. Out of which there should be only one correct option.
  • The remuneration for the development of each case scenario is Rs.1,500.

Therefore, those who are willing to express their interest may visit https://forms.gle/YQLryW3MMVRjEeFw7

Consequently, we all can see that steps are being taken towards providing better education to the students of the CA Fraternity.

Similarly, Neeraj Arora Sir said in connection with what we study in  Auditing and Assurance,

“We cannot eliminate the Risk of Material Misstatement. We can only reduce it to appropriately low level.”

Most noteworthy, for a better understanding, check out this video:

In conclusion, let us appreciate this initiative taken by the ICAI and thank the Institute by saying #ThankYouICAI on Twitter.