The Institute of Chartered Accountants of India periodically reviews its scheme of education and training to remain in tandem with developments in the field of education and other changes at the national and global levels. Evolving business and changing environment also demands newer skills from the accounting professionals. ICAI, being a member body of International Federation of Accountants (IFAC), has to comply with the International Education Standards [IES 1 to IES 8] which have been revised recently. There has been a shift from “input-based” to “outcome-based” approach in the Revised IESs. Accordingly, the ICAI’s present scheme of education has been designed and implemented from July1, 2017