In 1961, Pakistan, a newly born country, established the institute of Charted Accountants of Pakistan through a presidential Ordinance to regulate and monitor the accounting professional across the country. Since its inception, the Institute has strictly adhered to the policy of recognizing merit and remained committed to safeguarding public interest and ensuring ethical practices. Institute’s commitment to quality has made Charted Accountancy in Pakistan synonymous with professional excellence, integrity, transparency and accountability. ICAP has approx. as 11,000 members who are currently working in 46 countries worldwide. With thousands of students joining our prestigious fraternity, we offered approx. 382 ambassadors to the local and international market in the year 2011. The transformation to global financial reporting standards requires the internalization of new values and attitudes. At ICAP we realize that education is critical and holds together and centrifugal forces countries to pull us towards diversification, yet persuade us to retain our distinctive identity.

International Recognition

The ICAP’s affiliation with international bodies has enhanced the spirit of collaboration among the member countries and has played an effective role in promoting standards of competence and high quality for the accountants. ICAP is a proud member of the International Federation of Accountants and has achieved global competence through adherence with quality international standards set by IFAC that are working to promote and develop best practices and values.   ICAP coordinates with Confederation of Asian & Pacific Accountants to augment the accountancy standards and advance the profession by promoting harmonization through the adaptation of IFAC and IASB standards.   South Asian Federation of Accountants serves as a regional platform of chartered accountants. ICAP is an active member of SAFA that serves as a professional accountancy forum for SAARC member bodies.   Under the MoU signed between ICAP and ICAEW, ICAP members get exemption from the professional stage exams and mandatory training of ICAEW. ICAP members are only required to complete the advanced stage exams and the ethics module for membership of ICAEW.   ICAP members with 12 years' experience, through Evaluation of Experience (EvE) program, are eligible to become members of the Canadian institute of Chartered without appearing in any further examinations. ICAP members meeting the general membership criteria are also eligible for membership subject to:

• Having a university degree granted by a recognized university;
• Passing the Evaluation (UEF); and
• Meeting the practical experience requirements (term, depth, breadth and progression) of the Canadian CA profession. Practical experience obtained pre-and-post-qualification as a member of the ICAP is included.

National Recognition

The Higher Education Commission has accepted the Certificate of Chartered Accountancy qualification as equivalent to the Degree of Masters in Commerce. University of Lahore is also awarding B.Com degree to students who have qualified C.A intermediate subject to submission of a research paper

All candidates who intend to join the Chartered Accountancy profession are required to have any one of the following qualifications.

• Passed Higher Secondary School Certificate (HSSC) examination with minimum 60% aggregate marks, or passed Qualifying Assessment Test (QAT) if aggregate marks are less than 60% but not less than 50%;
• ‘A’ Levels with minimum three Subjects with aggregate minimum 60% equivalence or passed QAT if equivalence is less than 60% but not less than 50%
• Graduates with minimum 45% marks

CA is a five-year and 6-month program consisting of four levels and a training program:

• Pre-requisite Competencies (PRC)
• Certificate in Accounting and Finance (CAF)
• Certified Finance and Accounting Professional (CFAP)
• Multi-Subject Assessment (MSA)
• Training program: the students have to join a firm

  After the successful completion of PRC and CAF, it is mandatory for students to join an authorized training organization for a period of three and a half years. The training will include specific learning for each field of specialization in accountancy through practical experience. After one year of completion of their training, the students will also be required to take their CFAP exams. Once the relevant CFAP exams are cleared, the students will be eligible to give their MSA papers. Moreover, as part of the CA program focus is also given to improve the students' speaking and presentation skills. For this it is compulsory for the students to take the Hands-on courses.

This is the first level requires understanding and awareness of the subject matter and related concepts. The candidates will be expected to have the ability to understand the nature of basic concepts. Pre-Requisite Competencies.

Subject Code	Subject	Examination
PRC-1	Business Writing and Comprehension Skills	All 12 Months.
PRC-2	Quantitative Methods	All 12 Months.
PRC-3	Principle of Economics	All 12 Months.
PRC-4	Introduction to Accounting	All 12 Months.
PRC-5	Introduction to Business	All 12 Months.

Competency for this level requires good understanding and detailed evaluation of the subject matter and related concepts, along with the ability to apply concepts and skills in simple professional scenarios. The person will be expected to have the ability to provide reasonable justification and logical explanation to support their professional judgment and decision making.
Group A

Subject Code	Subject	Examination
CAF-01	Financial Accounting and Reporting 1	March & September
CAF-02	Tax Practices	March & September
CAF-03	Cost And Management Accounting	March & September
CAF-04	Business Law	March & September

  Group B

Subject Code	Subject	Examination
CAF-05	Financial Accounting and Reporting 2	March & September
CAF-06	Managerial and Financial Analysis	March & September
CAF-07	Company Law	March & September
CAF-08	Audit And Assurance	March & September

   

Competency at this level requires an in-depth understanding of the subject matter and related concepts. The person will be expected to have the ability to critically examine and evaluate all concepts and available information to make firm professional judgments and make decisions.
CFAP (Certified finance and Accounting Professionals)

Subject Code	Subject	Examination
CFAP-01	Advance Accounting & Finance Reporting	June & December
CFAP-02	Advance Corporate Law & Practices	June & December
CFAP-03	Strategy & Performance Measurement	June & December
CFAP-04	Business Finance Decision	June & December
CFAP-05	Tax Planning & Practices	June & December
CFAP-06	Audit Assurance & Related Services	June & December

  MSA (Multi Subject Assessment)

Subject Code	Subject	Examination
MSA-01	Financial Reporting & Assurance Professional Competence	June & December
MSA-02	Management Professional Competence	June & December

 

Through this course, Aim is to equip its students with the skills and knowledge to successfully conduct presentations and help students speak fluently.

Subject Code	Subject
PPE	Presentation and Personal Effectiveness
MS Office	MS Office
Data Management & Analytics	Data Management & Analytics

 

Exemption
https://icap.org.pk/students/examination/exemption-summary/
Study Resource & Syllabus
PRC
https://icap.org.pk/students/study-resources/prc/
CAF
https://icap.org.pk/students/study-resources/caf/
CFAP
https://icap.org.pk/students/study-resources/cfap/
MSA
https://icap.org.pk/students/study-resources/MSA/