ICAI to form research group to study cryptocurrencies

New Delhi: The Institute of Chartered Accountants of India (ICAI) on Tuesday said it will undertake a detailed study on cryptocurrencies in wake of their rising popularity across the world. A research group is being constituted by the body which will soon be undertaking the task, it said.

The ICAI, in a statement, also said it will be hosting the World Congress of Accountants (WCOA) from November 18 to 21 in hybrid mode for the first time ever in the Congress’ history. ”A conglomeration of 6,000 Delegates from over 135 Countries will exchange views on accounting and allied areas,” it said in the statement.

The ICAI will soon introduce a new scheme for education and training, it said, which will emphasize more on the development of higher-order skills of application, analysis, and interpretation. A special feature of the new scheme would be the mandatory multi-disciplinary case study at the final level, which will help students apply their knowledge in solving real-world problems, it said.

Aniket Sunil Talati, Vice-President, ICAI, said: “This is for the first time the CA course is being revised in five years instead of 10 years, as per past practice.”

To attract young aspirants from remote areas, ICAI has also decided to extend 75 percent concession in registration course fee for all levels of Chartered Accountant courses to students from Jammu and Kashmir, Ladakh, Andaman and Nicobar Islands, and eight North-East States, — Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura — till March 31, 2025, the statement said.