The CA Institute, the world’s largest accounting body, has decided to hold its Foundation and Intermediate Course exams thrice in a year.

Instead of twice a year in May and November,the exams will now be held in January, May/June and September.

This was decided at a meeting of the Central Council of the Institute of Chartered Accountants of India (ICAI) in the capital on Thursday.

Ranjeet Kumar Agarwal, President, ICAI, said, “The decision taken by the ICAI will benefit students who have completed their study period to appear for the exam without waiting for two months. Globally, the frequency of examinations is increasing so that students get more opportunities to sit for the exam. Considering this, the ICAI has aligned itself with global best practices. I am sure that this decision would be a great step forward towards encouraging the young aspirants who wish to pursue their dream of becoming chartered accountants.”

However, sources said the exam for the final course will continue to be held in May and November each year.

Currently, the ICAI has 4 lakh members and 8.5 lakh students. Agarwal recently said the ICAI sees the need to have at least 30 lakh chartered accountants by 2047 when the country aims to be a developed country.

As the interval between the exams is reduced by two months, from the existing six months to four months, students are expected to have more opportunities to appear for the examination.

This will benefit those who have completed their study period to appear for the exam without waiting for two months.

Meanwhile, for the examination scheduled in May/June 2024, as many as 4,36,500 students have enrolled so far.

This is the highest enrolment for the exam till date, according to Agarwal.