The Institute of Chartered Accountant of Pakistan Education Scheme GCA Official

Conceptual Background 7 Knowledge and comprehension Application and Analysis Professional judgment, forming opinion and decision making Support role Operational role Leadership role as Chartered Accountant GCA Official

Revised Qualification Structure AFC Assessment of Fundamental Competencies (4 papers) CAF Certificate in Accounting and Finance (9 papers) CFAP Certified Finance and Accounting Professional (6 papers) MSA Multi subject Assessments (2 papers) CA 5 T r a i n i n g GCA Official

Revised Qualification Structure Assessment of Fundamental Competencies (AFC) 6 Functional English Business Communication Introduction to Information Technology Quantitative Methods Foundation/screening for a career as CA GCA Official

Revised Qualification Structure 7 Introduction to Accounting Introduction to Economics & Finance Business Management & Behavioral Studies Business Law Financial Accounting & Reporting I Principles of Taxation Financial Accounting & Reporting II Cost & Management Accounting Audit & Assurance Knowledge and Comprehension Support Role Certified in Accounting and Finance Knowledge and Comprehension Support Role Certified in Accounting and Finance GCA Official

Revised Qualification Structure 8 Advanced Accounting & Financial Reporting Business Finance Decision Advanced Taxation Corporate Law Business Management & Strategy Audit Assurance & Related Services Application and Analysis Operational Role Certified Finance and Accounting Professional Application and Analysis Operational Role Certified Finance and Accounting Professional GCA Official

Revised Qualification Structure 9 Formation of Professional Opinion, Advisory and Decision Making Leadership role Chartered Accountant Formation of Professional Opinion, Advisory and Decision Making Leadership role Chartered Accountant GCA Official

Qualification Streams Fulltime student Trainee Student 10GCA Official

Full Time Student 14 years of education 45 % aggregate marks 16 years of education 11GCA Official

Trainee Student 14 years of education 45 % aggregate marks years of education GCA Official

Exemptions 4 year Graduates from non-SDAI 4 year Graduates from SDAI CAF AFC CAF Exemptions from CAF 1 to 4 Non core subjects AFC GCA Official

Exemptions 2 year Graduates AFC HSSC A Levels GCA Official

Exemptions Exemptions to following accountancy bodies are available subject to conditions stipulated in the scheme: ACCA CIMA ICMAP PIPFA Other professional qualifications on case to case basis GCA Official

Education Delivery SDAI option ICAP has so far approved IBA and LUMS and following a cautious approach in approving universities. SDAI option ICAP has so far approved IBA and LUMS and following a cautious approach in approving universities. Self study option Exam-aligned study support material would be available, but not a recommended mode of study in view of limited attempts. Self study option Exam-aligned study support material would be available, but not a recommended mode of study in view of limited attempts. RAET option Specialized in ICAP exams Full involvement of ICAP in ensuring best tuition facility provided by RAETs. RAETs would be ranked according to their performance judged on pre-defined criteria/KPIs. RAET option Specialized in ICAP exams Full involvement of ICAP in ensuring best tuition facility provided by RAETs. RAETs would be ranked according to their performance judged on pre-defined criteria/KPIs. GCA Official

Practical Training The existing Training Regulation and Guidelines would remain effective GCA Official

Transition Students of Modules A to D would be transferred to new scheme from Autumn 2014 Students of Modules E and F would be gradually transferred to new scheme The transition would commence from Summer 2017 And would fully completed by Winter 2019 Students of Modules E and F would be gradually transferred to new scheme The transition would commence from Summer 2017 And would fully completed by Winter 2019 GCA Official

Equivalencies Equivalencies for CFAP stage would be given according to the transition scheme Equivalencies for AFC and CAF stages shall be given at the commencement of the Education Scheme 2013 There shall be no equivalency for Multi- subject Assessment (MSA) GCA Official

Equivalencies (AFC) 7 Functional English Business Communication Quantitative Methods Functional English (Module A) Business Communication and Behavioural Studies (Module C) Quantitative Methods (Module A) Introduction to Information Technology Information Technology (Module D) GCA Official

Equivalencies (CAF) 7 Introduction to Accounting Introduction to Economics and Finance Business Law (Mercantile law section) Business Law (Company law section) Business Law (Mercantile law section) Business Law (Company law section) Introduction to Financial Accounting (Module B) Introduction to Economics and Finance (Module B) Mercantile law (Module B) Company law (Module D) Mercantile law (Module B) Company law (Module D) Business Management and behavioural studies Business Communication and behavioural studies (Module C) GCA Official

Equivalencies (CAF) 7 Financial Accounting & reporting I Principles of Taxation Financial Accounting & reporting II Introduction to Financial Accounting (Module B) Taxation (Module C) Financial Accounting (Module C) Cost and Management Accounting Cost Accounting (Module D) Audit and assurance Auditing (Module D) GCA Official

RAET System Increased engagement between ICAP and RAETs Performance based ranking system Fellow Affiliate Performance based ranking system Fellow Affiliate GCA Official

Performance based ranking system Key Performance areas Focus of RAET on CA qualification or exclusive resources for CA stream Maintenance of infrastructure and facilities Promotion of CA profession Engaging good quality faculty Providing good teaching environment Performance of students in CA examinations Level of coordination with ICAP Self assessment by RAETs – Assurance report by an independent QCR rated firm Ranking Fellow Affiliate Key Performance areas Focus of RAET on CA qualification or exclusive resources for CA stream Maintenance of infrastructure and facilities Promotion of CA profession Engaging good quality faculty Providing good teaching environment Performance of students in CA examinations Level of coordination with ICAP Self assessment by RAETs – Assurance report by an independent QCR rated firm Ranking Fellow Affiliate GCA Official

Increased engagement between ICAP and RAETs With Fellows Prominent exposure on website, in the events and front offices Mention of Fellow RAETs in advertisements and exhibitions Closer relationship and feedback facility in respect of examinations and results including sharing of actual performance of failures of respective RAETs Consultation on policies regarding education, delivery of education and examinations Participation in annual coordination meeting Priority in train the trainers program With affiliates Moderate level exposure on website, in the events and front offices Closer relationship and feedback facility in respect of examinations and results including sharing of actual performance of failures of respective RAETs Participation in annual coordination meeting With Fellows Prominent exposure on website, in the events and front offices Mention of Fellow RAETs in advertisements and exhibitions Closer relationship and feedback facility in respect of examinations and results including sharing of actual performance of failures of respective RAETs Consultation on policies regarding education, delivery of education and examinations Participation in annual coordination meeting Priority in train the trainers program With affiliates Moderate level exposure on website, in the events and front offices Closer relationship and feedback facility in respect of examinations and results including sharing of actual performance of failures of respective RAETs Participation in annual coordination meeting GCA Official

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