CA – ICAP

About Chartered Accountancy

Chartered Accountancy is a rewarding career and there are excellent prospects for employment in audit firms as well as in local companies, multi-nationals, and local and foreign banks. The profession has stood the test of time, and career opportunities for Chartered Accountants are unfolding as corporate entities increasingly realize the importance of professional values, ethics and good governance. Becoming Chartered Accountant you will be top ranking executive in commerce and industry. Chartered Accountancy is making its own borders. You study here and practice the qualification across the world. To become a Chartered Accountant you need to be motivated, possess analytical skills, numerical ability, a keen sense of what is going on in the world of business and finance, and personal qualities such as reliability and discretion. You will be required to study business and corporate finance, economics, auditing, accounting, corporate laws, taxation laws, management and information systems.

Why Chartered Accountancy

  • Chartered Accountants have a myriad of career options including working in high multinational corporations, advising governments, and supporting charities and businesses from every industry all over the world.
  • Students with a Chartered Accountancy qualification are sought by employers all over the world.
  • The starting salaries for chartered accountants are impressive and compare favorably with salaries for those starting out in law, general management and banking.
  • The HEC equates CA qualification to a Master’s qualification in Commerce.
  • Chartered Accountancy is a secure qualification because no matter the company size everyone needs a chartered accountant.

CAPS Philosophy

Our educational philosophy is simple – to provide the highest quality of lecturing and exceptional services to our students. At CAPS, your success is our top agenda!

About ICAP

The Institute of Chartered Accountants of Pakistan was established under the Chartered Accountants Ordinance, 1961 as a self-regulatory body and it operates under the CA Bye Laws 1983. ICAP is an examining body for the candidates aspiring to become Chartered Accountants. It regulates the accounting and auditing profession in Pakistan.ICAP is a member of International Federation of Accountants (IFAC), International Accounting Standards Board (IASB), Confederation of a Asian & Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAFA).

1. Higher Secondary School Certificate with minimum 50% marks.
2. ‘A’ Levels with minimum two passes, or equivalent qualification.
3. Graduates with minimum 45% marks.

AFC - Assessment of Fundamental Competencies

The competency for this level requires understanding and awareness of the subject matter and related concepts. The person will be expected to have the ability to understand the nature of basic concepts.

Subject Code Subject
AFC-1 Functional English
AFC-2 Business Communication
AFC-3 Quantitative Methods
AFC-4 Information Technology

CAF - Certificate in Accounting and Finance

The 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 scenario. The person will be expected to have ability to provide reasonable justification and logical explanation to support their professional judgment and decision making.

Subject Code Subject
CAF-1 Introduction to Accounting
CAF-2 Introduction to Economics
CAF-3 Business Law
CAF-4 Business Management and Behavioural
CAF-5 Financial Accounting and Reporting-I
CAF-6 Principles of Taxations
CAF-7 Financial Accounting and Reporting-II
CAF-8 Cost and Management Accounting
CAF-9 Audit and Assurance

CFAP - Certified Finance and Accounting Professional

The competency for 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.

Subject Code Subject
CFAP-1 Advance Accounting &Financial Reporting
CFAP-2 Corporate Laws
CFAP-3 Business Management & Strategy
CFAP-4 Business Finance Decisions
CFAP-5 Advanced Taxation
CFAP-6 Audit Assurance & Related Services

MSA - Multi Subject Assessment

Final stage towards Chartered Accountant

Subject Code Subject
MSA-1 Financial Reporting & Assurance - Professional Competence
MSA-2 Management - Professional Competence

CAPS Approved PCSC Provider

Presentation and Communication Skills Course (PCSC)

In order for students to develop effective communication skills, ICAP has introduced  compulsory Presentation and Communication Skills Course (PCSC) of 50 hours. PCSC – 01, is attended at CAF stage before commencement of training.

PCSC-01 Course Plan

Ist week 2nd week 3rd week 4th week
L(1)PRESENTATION GROUP DISCUSSION Feedback on Writing skills Feedback on presentations
L(2)GROUP DISCUSSION Essay Writing Feedback(con.) Feedback on presentations
L(3)WRITING SKILLS AND PRACTICE Precis Writing Snap Presentation
Group Discussion Letter Writing Short Presentation
Group Discussion Report Writing Long Presentation
Feedback on Presentations
HOURS: 3+3+4+3+2=15 Hours:3+3+3+3+3=15 Hours: 3+3+2+2+5=15 HOURS:3+2=5

Total Hours=50

ICAP Education Scheme

Education Scheme 2013
Education Scheme 2021

Examination Schedule

Months Session Stage
February – March Spring AFC and CAF
May – June Summer CFAP and MSA
August – September Autumn AFC and CAF
November – December Winter CFAP and MSA

For more details please download.

ExamSchedule2018_2020
Examination Program Winter-2019
Examination Program Spring-2020

Exemptions To New Students

The exemptions on the basis of academic qualification are available to the following categories:

  • Four year degree from Specified Degree Awarding Institute (SDAI)
  • Four year degree from universities other than SDAI
  • Two years degree from any universities
  • HSSC or Equivalents
  • A Levels
Stages Available exemption and conditions applicable
Graduates HSSC A-levels
4 year
(SDAI*)
4 year
(non-SDAI*)
2 year
(non-SDAI*)
AFC Exemption from all papers of AFC

Without any other condition

Exemption from all papers of AFC

Minimum 60% marks in aggregate

60% marks or equivalent grades in relevant subject

Syllabus matches at least 70% with the prescribed syllabus of relevant subject

Exemption from all papers of AFC

Minimum 60% marks in aggregate

75% marks or equivalent grades in relevant subject

Syllabus matches at least 70% with the prescribed syllabus of relevant subject

Exemption from all papers of AFC

Minimum 70% marks in aggregate

75% marks or equivalent grades in relevant subject

Syllabus matches at least 70% with the prescribed syllabus of relevant subject

Exemption from all papers of AFC

Minimum two B grades

B grade in relevent subject

Syllabus matches at least 70% with the prescribed syllabus of relevant subject

CAF Exemption from all subjects of CAF

Minimum 60% marks or equivalent grades in relevant subjects

Syllabus matches at least 70% with that of the prescribed syllabus of relevant subjects

Exemption from CAF-1 to 4

Minimum 60% marks in aggregate

60% marks or equivalent grades in relevant subject

Syllabus matches at least 70% with the prescribed syllabus of relevant subject.

Exemption from CAF-1 Introduction to accounting CAF-2 Introduction Economics and Finance

Minimum 60% marks in

75% marks or equivalent grades in relevant subject

Syllabus matches at least 70% with the prescribed syllabus of relevant subject.

Exemption from CAF-1 Introduction to accounting CAF-2 Introduction Economics and Finance

Minimum two B grades

B Grade in relevant subject

Syllabus matches at least 70% with the prescribed syllabus of relevant subject.

* SDAIs are degree awarding institutes recognized by the Institute on the basis of a pre-defined criteria and evaluation by the Institute. The degree courses of SDAIs are designed in close coordination with the Institute.

Exemptions for other Professional Qualification

Stages and Papers ACCA CIMA ICMAP PIPFA
Assessment of Fundamental Competencies (AFC)
AFC-1 Functional English Y Y Y Y
AFC-2 Business Communication Y Y Y
AFC-3 Quantitative Techniques Y Y Y Y
AFC-4 Introduction to Information Technology Y Y Y
Certificate in Accounting and Finance (CAF)
CAF-1 Introduction to Accounting Y Y Y Y
CAF-2 Introduction to Economics & Finance Y Y Y
CAF-3 Business Law Y Y Y
CAF-4 Business Management & Behavioral Studies Y Y
CAF-5 Financial Accounting and Reporting – I Y Y Y
CAF-6 Principles of taxation   Y* Y
CAF-7 Financial Accounting and Reporting – II Y Y Y
CAF-8 Cost and Management Accounting Y Y Y
CAF-9 Audit and Assurance   Y* Y
* The exemptin from CAF-6 ‘Principles of Taxation’ shall be granted to candidates who have passed F6 Taxation – Pakistan variant and exemption from ‘CAF-9 Audit and Assurance’ shall be granted to candidates who have passed P7 Advanced Auditing.

Training & Education

Training and Education

On successful completion of CAF, it is mandatory for the student to join an authorized training organization of the Institute for a prescribed period.Training includes specific learning hours for each field of specialization through practical experience. Training includes specific learning hours for each field of specialization through practical experience. During training the candidate qualifies the following stages.

Period of Training

Candidates who have passed or obtained exeption from AF (3.5 years)Four year Graduate/Post Graduate from universities approved by the (3years) Education and Training Committee of the Institute.Graduates/Post Graduates other than those mentioned at (2) above (4 years) students are paid prescribed stipend by the Training Organizations during the period of training which allows financial independence.