ICAI 2022: Application Form, Eligibility Criteria, Exam Date

ICAI 2022: Application Form, Eligibility Criteria, Exam Date

Candidates who want to be a Chartered Accountant need to study and clear the different level courses as prescribed by the Institute of Chartered Accountants of India (ICAI). Three levels or stages of courses namely foundation, intermediate and final courses are there. Completing all these courses makes the candidate eligible to become an ICAI member. Interested and eligible candidates can apply for these courses through online mode. The candidates can find complete details regarding the ICAI 2022 process here from this article.

ICAI 2022 Important Dates

Check out the important dates (tentative) related to ICAI 2022:

Events Tentative Dates
Phase I Phase II
Last date for registration for foundation course Last week of June 2022 Last week of December 2022
Foundation exam November 2022 May 2023
Last date for registration for intermediate course (foundation route) 1st week of March 2023 1st week of September 2023
Last date for registration for intermediate course (direct entry) 1st week of February 2023 1st week of August 2023
Intermediate exam November 2023 May 2023

ICAI 2022 Eligibility Criteria

The ICAI 2022 eligibility criteria for different level courses are provided below:

For Foundation course:

  • A pass in class 12th exam or its equivalent from a recognized board is required.

For Intermediate course:

  • Candidates should have cleared their Foundation level exam in order to be eligible.
  • Those with graduation or post graduation degree with not less than 55% marks (60% marks for Commerce graduates/ postgraduates) are eligible too.
  • Students who are pursuing the final year graduation course can also register for the Intermediate Course on provisional basis.
  • The candidates who have passed Intermediate level exam of Institute of Company Secretaries of India and Institute of Cost Accountants of India can also apply.
  • Applicants should have eight months study course as on the first day of the month in which the exam will be held (for foundation route applicants). A certificate in this regard is also required.
  • The applicants should have completed nine months of Practical Training on or before the last day of the month preceding the month in which the exam is to be held (for direct entry applicants). A certificate in this regard is also required.

For Final course:

  • Those applicants who have cleared their Intermediate level exam will be eligible.
  • Candidates should have completed the Practical Training on or before the last day of the month preceding the month in which the exam is to be held.
  • Those serving the last six months of practical training (including excess leave) on the first day the month in which the exam will be held can also apply.
  • The applicants should have completed AICITSS as well.

ICAI 2022 Application Form

The online ICAI 2022 application form can be found from the official website www.icai.in. Candidates can apply for all three courses, foundation, intermediate and final level, from this website only.

  • In the application form, the candidates will be asked to provide their personal details and academic details.
  • Photograph and signature of the candidates in scanned format should also be uploaded in the application form.
  • After providing all the information into the application form, the candidates can submit it online with the prescribed fees.
  • A printout of the application form along with the important documents (as given below) should be sent to the concerned regional office.
  • The candidates should keep a copy of the application form with them also for any future reference.

Important Documents 

Copies of the following documents duly signed by the candidate should be sent to the concerned regional office within 7 days of the date of online registration along with the printout of the registration form:

For Foundation course:

  • Admit Card/ Mark sheet of class 12th exam
  • Admit Card/ Mark sheet of class 10th exam indicating name & date of birth
  • Proof of Nationality for foreign students
  • Category certificate for SC/ ST/ OBC/ Differently abled candidates
  • One recent color photograph affixed on the printout of the registration form

For Intermediate course:

  • Mark sheet of Class 12th exam for Foundation route candidates
  • Mark sheet of Graduation/ Post Graduation or Intermediate level exam of Institute of Company Secretaries of India or the Institute of Cost Accountants of India for direct entry candidates
  • Proof of Nationality for foreign students
  • Category certificate for SC/ ST/ OBC/ Differently abled candidates
  • One recent color photograph affixed on the printout of the registration form

For Final course:

  • Proof of Nationality for foreign students
  • Category certificate for SC/ ST/ OBC/ Differently abled candidates

Application fee:

The application fee structure for different ICAI courses is provided below:

For Foundation course:

Particulars Application fee 
For Indian candidates For foreign candidates
Cost of prospectus of foundation course INR 200 USD 20
Registration fee for foundation course INR 9000 USD 700
Subscription for students’ journal for one year (optional) INR 200 USD 20
Subscription for members’ journal for one year (optional) INR 400 USD 40
Total INR 9800 USD 780

For Intermediate course:

Particulars Application fee
Group I or II Both Groups
For Indian candidates For foreign candidates For Indian candidates For foreign candidates
Cost of prospectus for direct entry candidates INR 200 USD 20 INR 200 USD 20
Registration fee for intermediate course INR 11000 ———– INR 15000 ———–
Students’ activities fee INR 2000 ———– INR 2000 ———–
Registration fee as articled assistant ———– ———– INR 1000 ———–
Total INR 13000 USD 600 INR 18000 USD 1000

For Final course:

Particulars Application fee 
For Indian candidates For foreign candidates
Final registration fee INR 22000 USD 1100

Mode of payment:

The candidates can make payment of the application fee through online mode using the facility of net banking or debit card/ credit card.

ICAI 2022 Course Structure

For Foundation course:

Paper 1: Principles and Practice of Accounting (Subjective type, 100 marks)

Paper 2: Business Laws & Business Correspondence and Reporting (Subjective type, 100 marks)

  • Part I: Business Laws (60 marks)
  • Part II: Business Correspondence and Reporting (40 marks)

Paper 3: Business Mathematics and Logical Reasoning & Statistics (Objective type, 100 marks)

  • Part I: Business Mathematics (40 marks)
  • Part II: Logical Reasoning (20 marks)
  • Part III: Statistics (40 marks)

Paper 4: Business Economics & Business and Commercial Knowledge (Objective type, 100 marks)

  • Part I: Business Economics (60 marks)
  • Part II: Business and Commercial Knowledge (40 marks)

For Intermediate course:

Group I

Paper 1: Accounting (3 hours, 100 marks)

Paper 2: Corporate & Other Laws (3 hours, 100 marks)

  • Part I: Company Law (60 marks)
  • Part II: Other Laws (40 marks)

Paper 3: Cost and Management Accounting (3 hours, 100 marks)

Paper 4: Taxation (3 hours, 100 marks)

  • Part I: Income Tax Law (60 marks)
  • Part II: Indirect Taxes (40 marks)

Group II

Paper 5: Advanced Accounting (3 hours, 100 marks)

Paper 6: Auditing and Assurance (3 hours, 100 marks)

Paper 7: Enterprise Information Systems & Strategic Management (3 hours, 100 marks)

  • Part I: Enterprise Information Systems (50 marks)
  • Part II: Strategic Management (50 marks)

Paper 8: Financial Management & Economics for Finance (3 hours, 100 marks)

  • Part I: Financial Management (60 marks)
  • Part II: Economics for Finance (40 marks)

For Final course:

Group I

Paper 1: Financial Reporting (3 hours, 100 marks)

Paper 2: Strategic Financial Management (3 hours, 100 marks)

Paper 3: Advanced Auditing and Professional Ethics (3 hours, 100 marks)

Paper 4: Corporate and Economic Laws (3 hours, 100 marks)

  • Part I: Corporate Laws (70 marks)
  • Part II: Economic Laws (30 marks)

Group II

Paper 5: Strategic Cost Management and Performance Evaluation (3 hours, 100 marks)

Paper 6: Elective Paper (One to be chosen from the following) (3 hours, 100 marks)

  • 6A: Risk Management
  • 6B: Financial Services & Capital Markets
  • 6C: International Taxation
  • 6D: Economic Laws
  • 6E: Global Financial Reporting Standards
  • 6F: Multi-disciplinary Case Study

Paper 7: Direct Tax Laws & International Taxation (3 hours, 100 marks)

  • Part I: Direct Tax Laws (70 marks)
  • Part II: International Taxation (30 marks)

Paper 8: Indirect Tax Laws (3 hours, 100 marks)

  • Part I: Goods and Services Tax (75 marks)
  • Part II: Customs & FTP (25 marks)

ICAI 2022 Result

For Foundation course:

  • Candidates who clear the exam in one sitting with at least 40% marks in aggregate of each paper and 50% marks overall will be considered as qualified.
  • Those who clear the foundation level examination can apply for the intermediate course on the basis of the marks in the foundation level exam.

For Intermediate course:

  • Candidates who clear the exam in one sitting with at least 40% marks in aggregate in each paper of a group and 50% marks in aggregate of all the papers in each group or both the groups taken together will be considered as qualified in both the groups.

For Final course:

  • Candidates who clear the exam in one sitting with at least 40% marks in aggregate in each paper of a group and 50% marks in aggregate of all the papers of that group will be considered as qualified in that group.

ICAI 2022 FAQs

What are the different levels of Chartered Accountancy course?

The following three levels are there in the Chartered Accountancy course:

Entry level Foundation course
First stage of theoretical education Intermediate course
Final stage of theoretical education Final course

Where do I get the study material for different courses?

On completion of the registration process, the study material will be sent to the candidates through Centralized Dispatch System (CDS).

Is there any negative marking in any of the paper?

Yes. The objective type papers of Foundation level course will have negative marking for the incorrectly marked answers.

Is it mandatory to appear for the Foundation level exam to apply for the Intermediate course?

No. Candidates who have cleared the Intermediate level examination of The Institute of Cost Accountants of India or The Institute of Company Secretaries of India can also apply for the Intermediate course of ICAI.

Where can I get the details of the regional office?

Details of the regional offices can be found on the official ICAI website.

Can you explain the whole procedure of becoming an ICAI member?

The step-by-step guideline to become an ICAI member is given as follows:

  • Clear your class 12th exam and register and appear for Foundation level exam
  • Clear Foundation level exam and register for Intermediate course
  • Complete 8 months of study course
  • Clear Intermediate level exam (either or both groups)
  • Complete 4 weeks Integrated Course on Information Technology and Soft Skills (ICITSS)
  • Register for 3 year Practical Training & clear Intermediate level exam (both groups)
  • Register for the Final course
  • Complete 4 weeks Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) during the last two years of Practical Training
  • Appear in Final exam during last six months of practical training
  • Complete Practical Training
  • Clear Final level exam (both groups)
  • Become an ICAI member
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