Exciting changes are on the horizon for aspiring Chartered Accountants in Nepal! The Institute of Chartered Accountants of Nepal (ICAN) has revised its syllabus structure, moving from the familiar CAP I, CAP II, and CAP III levels to a new framework: Foundation, Application, and Advisory. This is a significant update that shapes the path to becoming a CA, and Gurukul CA is here to guide you through every step.
Understanding the ICAN Syllabus Transformation
The CA profession is globally recognized for being prestigious, respected, and offering a lucrative and prosperous career with ever-increasing demand. To ensure the curriculum remains relevant and prepares students for this bright future, ICAN has updated its structure.
The previous levels (CAP I, CAP II, CAP III) are being phased out and replaced by three new levels:
Foundation Level: This replaces CAP I. It is designed as your entry point to Chartered Accountancy.
Application Level: This replaces CAP II.
Advisory Level: This replaces CAP III.
Key Changes and Effective Dates
The new syllabus becomes effective based on your registration date:
Students registering for the first level (Foundation) on or after May 15, 2025, will register under the new syllabus.
Students registering for the second level (Application) on or after November 1, 2025, will register under the new syllabus.
Students registering for the third level (Advisory) on or after March 1, 2026, will register under the new syllabus.
These effective dates also apply to students re-registering in the respective levels.
There will be a transition period where both the old and new syllabi exams are held:
Foundation (replacing CAP I): The December 2025 exams will be the first batch under the new syllabus, and the June 2026 exams will be the last batch under the existing syllabus.
Application (replacing CAP II): The December 2026 exams will be the first batch under the new syllabus, and the June 2027 exams will be the last batch under the existing syllabus.
Advisory (replacing CAP III): The December 2028 exams will be the first batch under the new syllabus, and the June 2029 exams will be the last batch under the existing syllabus.
Structure, Subjects, and Duration
The new structure outlines the duration for each level:
Foundation Level: 6 months.
Application Level: 9 months.
Advisory Level: 3 years with Articleship Training. The Total Duration of the CA course under the new syllabus is approximately 4.5 years.
Here’s a look at the subjects in the new structure:
Foundation Level: Single Group, with papers in Accounting (Paper 1), Assurance (Paper 2A), Information Systems (Paper 2B), Business and Finance (Paper 3), Law (Paper 4A), and Taxation (Paper 4B). Foundation level exams include 60% objective questions and 40% subjective questions.
Application Level: Divided into Group I and Group II. Group I includes Paper 1: Financial Accounting and Reporting (100% subjective questions) Paper 2: Audit and Assurance (30% objective and 70% subjective questions), and Paper 3: Applied Law (30% objective and 70% subjective questions)
Group II includes Paper 4A: Management Accounting (100% subjective questions), Paper 4B: Financial Management (100% subjective questions), Paper 5: Business Strategy (30% objective and 70% subjective questions), and Paper 6: Applied Taxation (30% objective and 70% subjective questions).
Advisory Level: Divided into Group I and Group II. Group I includes Paper 1: Advanced Financial Reporting, Paper 2: Advanced Business and Financial Management Paper 3: Advanced Assurance
Group II includes Paper 4: Advanced Law Paper 5: Advanced Management Accounting and Paper 6: Advanced Taxation All subjects at the Advisory level are 100% subjective.
Exams for Foundation are 3 hours long for all the papers and Advisory levels are 3 hours long with additional 15 minutes to read the questions for all the papers. However for Application levels, paper 1 and paper 4 (100% subjective papers) have 3 hours and 15 minutes extra to read the questions and other papers (with 30% MCQs and 70% subjective) have 3 hours only with no additional time to read questions.
Revised Eligibility, Validity, and Exemptions
Key changes have also been made to eligibility, registration validity, and subject exemptions:
Foundation Eligibility: The revised criteria for full registration require passing Grade 12 or equivalent examination with 40% or 2.0 GPA or C equivalent marks, irrespective of the subjects studied. Provisional registration is available after appearing for the Grade 12 or equivalent examination.
Advisory Level Requirements: Completion of the Application Level is required, along with completion of 60 hours of IT Training and General Management & Communication Skill (GMCS) Training.
Registration Validity: Foundation level registration is valid for 3 years with one-time re-registration allowed. Application level is valid for 5 years with one-time re-registration. Advisory level is valid for 10 years with multiple re-registrations allowed. Importantly, passed groups, exemptions, and all training obtained will remain valid even after the re-registration.
Subject Exemption Criteria: Under the revised criteria, to be eligible for subject exemption in subsequent examinations, a student must secure 55% or more marks in the specific paper(s). Earlier this was 60%
ICAN has also approved Learning Materials (LMs) for the new syllabus, which will be available upon registration in each level. Online training sessions are being scheduled to cover the new syllabus and changes.
Why Choose Gurukul CA to Master the New ICAN Syllabus?
Navigating a syllabus change requires expert guidance, and Gurukul CA is renowned for providing the support students need to succeed. We are one of the leading CA Education institutes in Nepal, known for our “Choice of Achievers” with numerous All Nepal Rank Holders.
Our strength lies in our pillars:
Teachers: Our faculties are highly dedicated CAs and senior teachers passionate about teaching, focusing on conceptual clarity and easy study techniques. They are the foundation of our organization, helping tough people achieve their dreams.
Notes: We provide our own self-made study materials, carefully crafted by our experienced teachers to ensure comprehensive syllabus coverage and ease of understanding.
Technology: We embrace technology with best-in-class teaching devices and software. We offer free video backup classes in collaboration with Hamro Academy, so you never miss a concept and can revise effectively.
Management: Our proactive management team, including Directors CA Meghraj Aryal, CA Mukul Bhatt, and CA Arun Aryal, is dedicated to supporting students and ensuring smooth class operations.
We provide a positive, inspiring environment with unwavering support. Students have praised our flexible study environment, better study materials, superb faculties, online class backups, and personalized attention. We treat you as a name, not a number.
We offer physical classes in multiple convenient locations including New Baneshwor and Bagbazar in Kathmandu, as well as Chitwan (Bharatpur), Biratnagar, and Tilottama (Rupandehi). Full online classes are also available.
We understand that costs are a factor. The CA course is known for its low education cost compared to other professional courses. At Gurukul CA, we offer scholarships on tuition fees to deserving candidates based on factors like Grade 11/12 GPA, ranks, and performance in our tests and final exams. You can even calculate your potential scholarship beforehand.
Ready to Take Your First Step?
The shift to the Foundation, Application, and Advisory levels is a positive step for CA education in Nepal. With Gurukul CA, you have experienced guides to help you understand and excel in the new syllabus.
Don’t let the changes intimidate you. Reach out to our experts for personalized counseling. We can help you choose CA as a career and finalize your admission.
Learn more about the Foundation Level and start your journey today!
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Watch our video to know more about ICAN New Syllabus for Chartered Accountancy Course in Nepal.
