ICAI Practice Assessment Test Exam by ICAI

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Today I appeared for the LEVEL II PRACTICAL EVALUATION TEST conducted by the ICAI, Intended to assess practical learning students on internship during the Articleship and also to keep control over dummy items.

I have some interesting points to share from today’s test:

25% Questions in Accounting, Auditing & Corporate Law

– 50% Indirect Tax Questions (GST)

– 20% Questions in Internal Audit,
had been immediately recovered from Sample questions issued by ICAI in 2018.

And the majority of the remaining questions are purely theoretical and had less relevance / application during the academy period.

The funniest thing is that even the numbers are not changed in the calculation of taxes, the applicability of CARO and other layout issues, just they copy paste the questions of sample questions.

I had answered numeric questions without using a calculator and for some questions by looking at the options.
(you won’t need to see the questions for some of the questions at all, if you’ve looked at the sample questions)

In my opinion, article student who had taken CA End of studies coaching can do much better than regular articles and can get a higher rating.

ICAI just wants to show that they are doing something to take after the models but that in reality they are not doing anything.

There is no doubt that ICAI failed to achieve the objective of the PT test, by writing this type of questions

Another point is, IndAS questions, even today, the implementation of IndAs is proceeding gradually and recently RBI postpones its implementation for banks and only a few articles from 4 large companies may have seen its implementation, so how can ICAI expect article students from small and medium enterprises to respond when there is no practicality during the period? internship for the majority of students (> 90%).

Even, I had raised the above question in a National CA Student Conference, a BOS representative & Member of the Central Council replied that “you can go to big companies to learn IndAS”,

Then I asked, “Sir, will the big companies in India be able to accommodate all of the article students for training?” “

Then he replied: “Then you have to take a book, learn IndAS and take the exam”

Firstly ICAI says, the PT test is to assess the hands-on learning during the internship, on the other hand he the representatives say, to do Theoretical learning and appear for the test.

Finally, this PT test gave the opportunity to earn money for editors, few of them are already available on the market, but don’t buy because you can easily score by giving the sample questions a single read

My intention is not to blame ICAI, but our institute should improve the quality of the tests
, if they really want to do it, instead of this theory test, they can give raw data and ask students to fill out statements, forms, etc.,
And it is appreciable that from the exam of June 2019, the model has been modified and proposed to include 8-10 questions on current affairs, where the questions will be formulated from the content given in the student newspaper, so that the student studies the journal published by ICAI.

And the current Articleship system needs to be changed, making the training period mandatory in an Industry.

Before taking any initiative and checking the dummy articles, the ICAI should think about the circumstances which encouraged the article student to choose another side.

Hope this will change in the near future.

Vinay Reddy is an article assistant in Hyderabad.



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