New Delhi: The Institute of Chartered Accountants of India (ICAI) on Thursday said it has formed a committee to look into the examination process following protests from students who are demanding revaluation of their CA answer sheets. In a press conference, ICAI president Prafulla Chhajed said the examination process followed by ICAI ensures multiple levels of monitoring for quality evaluation of answer sheets.

Later in a statement, the ICAI said, "It has decided to constitute a high-level independent committee to look into the examination processes/regulations governing CA examinations including Regulation 39(4) of the Chartered Accountants Regulations, 1988 and suggest changes wherever required in the ICAI examination system."

The CA aspirants have been demonstrating outside the ICAI office and demanded revaluation of answer sheets, alleging they have not been checked properly. The ICAI received around 53,000 applications for showing answer sheets from around three lakh CA aspirants who took the exams conducted by the institute. Also, around 150 requests were made by examinees with complaints of being denied stepwise marking, said ICAI office-bearers. Chhajed said over 100 examiners have been removed based on the report of head examiner of the institute, for not being up to the mark and erratic in checking answer sheets.