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.
PRC - Pre-Requisite 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 |
|---|---|
| PRC-1 | Business Writing and Comprehension Skills |
| PRC-2 | Quantitative Methods |
| PRC-3 | Principles of Economics |
| PRC-4 | Introduction to Accounting |
| PRC-5 | Introduction to Business |
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.
Group - A
| Subject Code | Subject |
|---|---|
| CAF-1 | Financial Accounting and Reporting-I |
| CAF-2 | Tax Practices |
| CAF-3 | Cost and Management Accounting |
| CAF-4 | Business Law |
Group - B
| Subject Code | Subject |
|---|---|
| CAF-5 | Financial Accounting and Reporting-II |
| CAF-6 | Managerial and Financial Analysis |
| CAF-7 | Company Law |
| CAF-8 | 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. The examinations/ assessment at this stage will focus mostly on innovation and decision making with enhanced application and analytical skills
| Subject Code | Subject |
|---|---|
| CFAP-1 | Advanced Accounting and Financial Reporting |
| CFAP-2 | Advanced Corporate Laws and Practices |
| CFAP-3 | Strategy and Performance Measurement |
| CFAP-4 | Business Finance Decisions |
| CFAP-5 | Tax Planning and Practices |
| CFAP-6 | Audit, Assurance and Related Services |
MSA - Multi Subject Assessment
Final stage towards Chartered Accountant. The examinations/assessments at this stage will focus on integrated topics to ensure that candidates can solve and provide advice on complex business issues and problems.
| 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.
Exemptions To New Students
The exemptions on the basis of academic qualification are available to the following categories:
| 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.