An Open Letter by a CA Student to ICAI President regarding HIGH PASSING PERCENTAGE IN CPT and LOW PASSING PERCENTAGE IN CA FINAL:-

Respected CA K. Raghu Sir,

Words just aren’t sufficient to describe the contribution you’ve made to Indian accountancy profession as the President of the Institute of Chartered Accountants of India.I would like to express my concern over the future of Chartered Accountancy Profession and students enrolled.

Right now ICAI has INCREASING TREND of number of students with “high” CPT Results and then RESTRICTING them at Final stage to QUALIFY.

To Start with I would like to bring to your notice some statistics:

CA FINAL 

Both Groups
May 14 - 7.29%
Nov-13 3.11%
May-13 10.03%
Nov-12 12.97%
May-12 16.38%
Nov-11 15.78%
May-11 20.51%

CPT Passing%

June 14 - 28.63%
Dec-13 37.61%
Jun-13 27.02%
Dec-12 27.07%
Jun-12 37.56%
Dec-11 35.33%
Jun-11 33.31%

Sir I know council regulation which says council may change results to maintain Standard. As per Regulation 39(2) "The Council may, in its discretion, revise the marks obtained by all candidates or a section of candidates in any particular paper or papers or in the aggregate in such manner as may be considered necessary, for maintaining the standards of pass percentage provided in these Regulations."

Do you personally think its right; do you think such variation is correct??

Such deliberate manipulation of the result by the ICAI so as to reduce the supply of Chartered Accountants in the market is not good for the future of this dynamic Profession.

As per my opinion such a regulation is unconstitutional. Irrespective of what the regulations say, no examining body has the authority to mark a correct answer in the answer script as wrong. No legally justified regulation can ideally give authority to any entity to do such wrongful acts just to reduce the pass percentage.

Nobody has right to “waste” the youth’s ENERGY and TIME. We can’t see the FRUSTRATION on the face of lacks of students in near future. Many times it leads to suicide which is not desirable at all.

Let’s take an example if 25,000 students qualify every year (which is said as good results of CA), then also at least 40 years are required to qualify all the students registered so far (at the time of writing students were 10 Lacs and the flow was increasing)!

It is time to rethink SERIOUSLY about those who are registered as CA students. Why Entry to this profession is not made tough??

IIT's and IIM's are prestigious degree just like Chartered Accountancy. There entry is limited, they maintain a standard. This is what should be followed.

The ICAI teaches us lessons of ethics and morality which is incorporated in the syllabi of our course but what can be comprehended now is that the same ethics are being compromised here by the ICAI itself by manipulating the result pattern just like one regulates the regulator of a kitchen stove to control the production of Chartered Accountants in the market in whichever way the Institute wishes to.

Why CPT results were not controlled in Nov 2013 when CA Final Results were controlled?

It clearly shows ICAI Management doesn’t wish to close the COACHING HUTS.

November, 2013 : The toughest results of CA Final in last 10 years. . Whether the performance of almost all the brilliant students has WEAKENED or the quality of marking system has IMPROVED SUDDENLY?

I was shocked to know that even the 3% result given by the institute is not actual. The actual % was just around 1.7% but there is news that 2 grace marks were awarded to every body, so the result jumped to about 3%. Something is totally wrong over here.One should not forget this result is of those students who were declared successful in IPCC ”happily.”

I am not saying that ICAI should declare 100% result but a consistency should be maintained. Whatever be the state of the economy, system should be same for all the students and transparency should be there in the process. Just because of economy you can't differentiate between two students both of whom may be actually worthy to become chartered accountant. In 6 months if results drops from 10% to 3% it can't be said that suddenly the quality of students appeared has decreased to the level of un-acceptance.

Harvard,Stanford or Kellog never reduced their results due to world wide recession. Oxford never stopped giving Economics Degrees due to recession.The world famous CFA institute pass % ages are so consistent. That is why more people opting for CFA,USA. It’s Time for change!!!!

Yours Faithfully
Aam Aadmi

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