The Insitute of Chartered Accountants of India (ICAI) has made a new announcement today about the upcoming July 2020 cycle of examinations. The announcement states that students may opt-out of the July 2020 cycle, in light of the ongoing novel coronavirus pandemic.
The ICAI announcement was made amidst many mixed reactions to holding the exams in July, with concerns raised around social distancing and safety. The institute has announced that the exam will take place as scheduled on 29th July, even if one student desires to take it.
Candidates will be given an 'opt-out' option
There has been much talk about whether or not the ICAI will proceed with the July cycle of CA exams this year, owing to the pandemic and the rise in COVID-19 cases. As many students wrote in describing their concerns with regard to the upcoming exams, the institute said there were still those students who expressed their desire to give the exam as well.
The ICAI has reached the decision that the students will be given the option to decide if they want to take the July cycle of exams or not. Candidates will be given an 'opt-out' option, the announcement states, "The students (who have already submitted online examination application for May 2020 Examination cycle) will be allowed to opt-out and carry forward their candidature to next examination i.e. November 2020 examination cycle."
In the case that students choose to opt-out, the examination fee will automatically be carried forward to the next and this attempt (May 2020) will be treated as cancelled/not counted. The student can apply afresh to the November 2020 cycle and the examination fees will be adjusted and only differential fees will be charged depending on which group the candidate is appearing for.
ICAI has decided to review the situation in the first week of July 2020 and inform students who have not opted out. The exams will be conducted according to Government advisories.
Procedure to avail an opt-out:
- Submit a declaration online available at https://icaiexam.icai.org from 17th June 2020 (Wednesday) 11 AM onwards to June 20, 2020 (11:59 PM)
- On submitting the declaration, candidature of the student for May 2020 Examination Cycle will be cancelled and he/she will be shifted to the next Examination Cycle.
- Kindly note that once option for 'Opt-out' is taken, it will be treated as final. No request for its change will be entertained under any circumstances.
Candidates are advised to visit the ICAI website regularly for details.