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

• The massive protest by the aspiring chartered accountants against the Institute of Chartered Accountants of India (ICAI) has sparked outrage across social media.
  
• The hashtags icaipresidentmissing and dearICAIpleasechange have been trending on Twitter, given the nationwide protest.
  
• And, political leaders like Rahul Gandhi backing up student protest has mounted pressure on the ICAI to address student concerns.
  
• In response to the student outrage, ICAI tweeted out a revaluation of a student copy saying that the ICAI Examination Department has verified that correct marks.

Thousands of chartered accountancy aspirants are protesting against the Institute of Chartered Accountants of India (ICAI) alleging wrong evaluation of CA examination held in May.

Apart from thronging offices of ICAI in Delhi, Durgapur, Siliguri, Bhilwara, Hyderabad and Jaipur, the students along with others are calling for action on social media as well. Hashtags #icaipresidentmissing and #dearICAIpleasechange has been trending on Twitter.

The students demanded a response from the ICAI president Prafulla Chhajed.

The students allege that their answers were evaluated wrongly and marks were deducted from correct answers as well. While this error has occurred, fixing it is next to impossible. As per Regulation 39(4) of the Chartered Accountants Act, 1949, students cannot seek re-valuation. They can only appeal for re-totalling of marks.

The students are now asking for a change in the amendment as well.

In response to the outrage, ICAI tweeted out a one revaluation of a student “The ICAI Examination Department has verified that correct marks i.e. 48 marks have been awarded to the student in connection with the answer book with code number 816578 of the Final Examination.”


“A section of the students led by agencies external to the Institute have been demonstrating outside the ICAI premises from 23rd September, 2019. In order to empathize the genuine concern, if any, of the students, they were given an opportunity to meet the officers and council members on 24th September, 2019 wherein more than ten representatives including ICAI members, non-members and students participated in the discussions,” the institute published on the website.

“The representatives of agitators submitted that their only demand is to allow for provision of re-checking of answer books in the Chartered Accountancy examinations,” the institute announced on its website, saying nothing of the regulation or re-valuation.

An email sent to ICAI by Business Insider India did not elicit any response.

See also:
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