After IIM, IIT, AIIMS, now it is turn of ICAI, the Institute of Chartered of Accountants of India. ICAI has joined the list of prestigious institute of India for wrong reasons. For the first time in history of ICAI, the papers of entrance examinations (CPT) were leaked 15 minutes before the examination.
The examinations were cancelled later in the day due to leakage. Around 82,000 students who took the examinations in India and abroad (Abu Dhabi, Dubai and Katmandu) will suffer due to this mishap. The exams are rescheduled for August 26, 2007 and once again the students are to burn the mid night oil to crack one of the toughest exams in the country. ICAI president, Mr. Sunil H Talati has expressed concern for the student and also confirmed that serious action will be taken against the person involved in the scam.
This event has tainted the image of ICAI and will also hit the revenue by Rs 1.64 crores assuming the cost per student for the examination to be Rs 200. Apart from financial loss, the integrity of ICAI is also in question which has lost charm in the recent past due to long duration taken in completing the course. Recently, ICAI has revamped its curriculum to target students early in their career and as per the new criteria students can enroll for the entrance exams after their matriculation and appear for Common Proficiency Test any time after completion of Plus two (XII) examination.
The decision taken by the institute to reschedule the paper is widely welcomed as it will help in maintaining the integrity of the examination to certain extent. But the transparency of the examination is certainly in question after this event.
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It is not just to say that integrity of ICAI is in question, it is only CPT exam which has only one paper,i dont think anybody would buy paper of PE-II or FINAl because they have 3 or 4 papers so even a paper in hand could not help.well for CPT the chances are always that some racket is there to leak the paper.It is India and none is spared from that.