Technology is everywhere and with technology impacting every aspect of education, it has become imperative for all educational boards to become tech savvy. To meet the technology revolution, the Institute of Chartered Accountants in India (ICAI) is getting ready to offer tech-based education for CA students.
CA Mr. Debashis Mitra stated that to ensure that a CA student learns every aspect of technology on the course and is able to implement it during his/her practice, there has been advancement in the adoption of technology and change in ways of doing business.
In line with these changes, the ICAI, in its new scheme, proposes to integrate technology with every core subject at the Final level. The ICAI is elaborating the scope that even in the existing scheme of education and training, there is a dedicated subject on Enterprise Information Systems at the intermediate level to make students tech-savvy.
Mr Mitra further stated about the advantages of tech integration that has introduced newer ways of learning. Tech enabled topics like Forensic Accounting, Data Analytics and online filing of income-tax and GST returns, are now covered within the syllabi of the second level information technology training (ITT) course. All the CA students also get hands-on experience in filing such returns and other forms in course of their practical training. In the new scheme, technology-enabled learning through a simulator /sandbox approach with a chatbot has also been proposed.
Mr Mitra further highlights that as part of its recent digital initiatives under the Board of Studies (BoS) and the use of ICAI’s audio enabled E-books available on the digital learning hub (that acts as a central repository of publications, guidance notes and courses for members and students) and the launch of BoS Mobile App.
Now, the ICAI is also organising free virtual coaching classes, wherein experts in different subjects are selected who deliver online lectures to students both across the country and abroad. Since these virtual coaching classes are free of cost, their cost of learning has also come down. Also, through the Mobile App, a student can access all learning material of BoS, virtual coaching classes and recorded lectures and also have their queries resolved. Mr. Mitra added that all of these measures have helped bridge the distance learning gap in CA education.
CA Mr. Murtuza Onali Kachwala, chairman, Western India Regional Council (WIRC) of ICAI, stated that the emphasis will be taken to train the students and members with various technologies. He further pointed out that tech integration in areas such as audit, taxation, compliance and even the litigation practice of the CA profession will be taken into consideration. He further added that since almost all the areas of the CA profession are embedded with technology, it becomes necessary to upskill the students.
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