Final year Chartered Accountancy students should be able to see copy of their answer sheets after May 2011, subject to approval by Central Council members, said Institute of Chartered Accountants of India (ICAI) president Amarjit Chopra on Monday.
Delivering the special address at ‘Convocation 2010', he said the performance of students was dismal, despite all the coaching classes, and this had to improve. They need to go back to text books and reference books and apply the concepts to the given problems. The Common Proficiency Test needs to be strengthened by bringing in appropriate changes.
To allay the apprehension that ICAI was failing students, it was proposed to allow them to see their answer sheets. The comments of the head examiner on every question would be hosted on the web. Besides, it was decided to host suggested answers for the November exam, one month before the declaration of the result, he said.
According to Mr. Chopra, the ICAI has signed Mutual Recognition Agreements with many nations; it will be signing one with Ireland next month, negotiations were on with New Zealand and Singapore and new initiatives were planned in the African region.
He also said that for the next two years, there would not be any change in the curriculum or in fee structure. It was also proposed to start a virtual classroom by December, which would be cheaper than attending the coaching classes. Distributing the convocation credentials to top nine rank holders from Tamil Nadu and Andhra Pradesh, G. Thiruvasagam, Vice-Chancellor, University of Madras, said, “the higher education system faced an alarming situation due to a mismatch in demand and supply. Though the University gives results of 75 per cent, the employability ratio is only nine per cent, while ICAI gives results of four per cent and the employability is 100 per cent. This is due to good syllabus, effective delivery system, effective examination system, research programmes and global education.”
He asked the students to update their knowledge on a regular basis, act as the conscience of corporate companies and remind them of their corporate social responsibility and be the guardian angels of shareholders.
V. Murali, vice-chairman, Board of Studies said that Chartered Accountants should have focus, work with responsibility, play their role to perfection and render value addition to society.
G. Ramaswamy, vice-president, ICAI, said that a few more international chapters would be opened soon.