Deadlock between ICAI and students continues

Deadlock between the Institute of Chartered Accountants of India (ICAI) and its students over the latter's demand for re-evaluation of the answer sheets of the examination, conducted earlier this year, continued on Thursday.

While lakhs of accountancy students, pressing for their demand for re-evaluation of their papers, staged protest in different parts of the country including Delhi for the forth consecutive day, the ICAI expressed its inability to accept their demand, saying the regulations do not allow it.

Addressing a press conference, the ICAI president Prafulla Chhajed appealed to the students to apply for re-check of the marking in their answer sheet or re-verification of their marks as per procedures if they have found any error in the totalling or allocation of the scores.

“Under the (Chartered Accountants) Act, there is no provision for re-evaluation. Everywhere re-totaling is done. They should apply for it under procedure instead of telling media,” he said while answering a volley of questions from the media on the row.

As per ICAI regulations, re-checking of the papers can be done in only in the cases where no marks have been awarded to any answer or part of it, there are totaling errors in “step-wise marks” awarded for an answer, or there is wrong carry forward or its part of marks awarded to answer on the cover page of the answer books

On the students demand for amending the regulations to allow re-evaluation of the answer sheets, the ICAI president said that the Institute was considering setting up an independent high-level committee to look into the grievances of the students and suggest “the road map for the future.”

“Now they are asking for that change in regulation. For this, there will be a process. It will go to Parliament. Then there are legal issues. This particular issue has already been tested by the High Court. The High Court has also refused. All these things are there,” he said.

During the press conference, the ICAI president repeatedly vouched for the credibility of the Institute's examination and evaluation system, saying the entire process is “so robust” that there is "no scope" for any large-scale discrepancy in it.

Later, the ICAI issued a statement, announcing setting up of an independent high level committee “to look into the examination processes/ regulations governing the CA examinations including Regulation 39 (4) of the Chartered Accountants Regulations, 1998 and suggest changes wherever required in the ICAI examination system.”

The five-member committee comprises former judge of the Supreme Court Anil R Dave, ICAI's past presidents Ved Jain and Amarjit Chopra.

The Institute, however, did not specify as to when the panel will submit its report.

“We will continue our protest until our demands are met,” a group of students, protesting outside the ICAI headquarters here, said.