ICAI bows down to student protests and forms a high-level committee

• ICAI announced a special committee comprising of former presidents and educationists to oversee the examination process and governance.
  
• The committee members include the acting secretary of ICAI Rakesh Sehgal, P C Jain, government nominee of ICAI Council, Justice Anil R Dave, Ved Jain, Amarjit Chopra, and Girish Ahuja.
  
• The students have been protesting against wrong evaluation system of the institute, alleging that their answers were evaluated wrongly and marks were deducted from correct answers as well.

Amid ongoing student protests, the Institute of Chartered Accountants of India (ICAI) announced a special committee to oversee the examination process and its governance.

The committee will comprise of former presidents and educationists. The members include the acting secretary of ICAI Rakesh Sehgal, PC Jain, government nominee of ICAI Council; Justice Anil R Dave; Ved Jain, Amarjit Chopra, and Girish Ahuja, The Print reported.

This move came after over 1.2 million aspiring chartered accountants protested errors in evaluation of CA qualifying exam held in May. They are seeking a re-valuation of their papers and these protests have gathered steam in the social media as well.

It decided to constitute a high-level independent committee to look into the regulations governing CA examinations including Regulation 39(4) of the Chartered Accountants Regulations, 1988 and suggest changes wherever required in the ICAI examination system,” said ICAI president Prafulla Chhajed.

The students have been protesting against wrong evaluation system of the institute, alleging that their answers were evaluated wrongly and marks were deducted from correct answers as well. The institute tried to assure the students saying that the examination process of ICAI has multiple layers for quality evaluation.

“Even people who check the papers undergo tests. This is a temporary post, and what benefit am I to get by indulging in any of what the students are claiming,” Chhajed argued.

According to the Regulation 39(4) of the Chartered Accountants Act, 1949, students cannot seek re-valuation. They can only appeal for re-totalling of marks.

The institute introduced changes in the evaluation process for the examinations scheduled for November 2019 and May 2020. The examination papers will now undergo digital evaluation for transparency.

See also:
CA aspirants want ICAI to amend regulation that allows re-valuation

Hundreds of India's aspiring chartered accountants are furious and protesting on the streets

Rahul Gandhi gets a rare thumbs up from Twitter for supporting CA student protest