If you are thinking of pursuing a career in CA, then you have landed on the right page. This article will find all the important information you need about CA in Pakistan.
What is CA in Pakistan?
CA (Chartered Accountancy) is a prestigious professional qualification that is recognized all over the globe. This qualification opens various opportunities to work in diverse fields, including accounting, auditing, finance, and taxation. Professionals with CA qualifications are always in high demand in local and international markets.
The scope in CA keeps increasing daily because of a high rise in entrepreneurship globally. CA is administered by ICAP (Institute of Chartered Accountants of Pakistan). ICAP was established in 1961, the only institute that provides Chartered Accountancy certification in Pakistan. The head office of ICAP is in Karachi, while the regional offices are based in Multan, Lahore, Islamabad, and Quetta.
What are the eligibility criteria?
While many students wonder if they are eligible for the program or not, we have provided you with all the necessary details. Based on your previous qualification, ICAP offers two routes of entry into the CA program. These include:
- Intermediate level of education with at least a minimum of 50% marks (12 years of education)
- A-Levels with at least 3 passes in subjects or minimum Grade E
- Students from these two categories must then appear in the CA program’s entry test (QAT).
- Bachelor’s degree in any discipline with a minimum of 45% marks
- Master’s degree in any discipline
- CIMA, ACCA, or ICMAP degree
- However, students from the above categories will be exempt from qualifying for the entry test.
Quality Assessment Test (QAT)?
- All students must appear in QAT as an entry test to pursue the CA program.
- This will be a computer-based test that consists of three parts, it includes, Mathematics, English, and Analytical Reasoning.
- Candidates can attempt QAT thrice.
- The entry test is conducted by a third party authorized by the institute.
What is the CA program structure?
CA program is divided into 4 parts:
ASSESSMENT OF FUNDAMENTAL COMPETENCIES (AFC) 4 Papers
|AFC-4||Introduction To Information Technology|
CERTIFICATE IN ACCOUNTING AND FINANCE (CAF) 8 Papers
|CAF-1||Financial Accounting and Reporting 1|
|CAF-3||Cost and Management Accounting|
|CAF-5||Financial Accounting and Reporting 2|
|CAF-6||Managerial and Financial Analysis|
|CAF-8||Audit and Assurance|
Certified Finance and Accounting Professional (CFAP) 6 Papers
|CFAP-1||Advance Accounting and Financial Reporting|
|CFAP-3||Strategy and Performance Measurement|
|CFAP-4||Business Finance Decisions|
|CFAP-5||Tax Planning and Practices|
|CFAP-6||Audit, Assurance and Related Services|
Multi-Subject Assessment (MSA) 2 Papers
|MSA-1||Financial Reporting Professional Competence|
|MSA-2||Management Professional Competence|
CA also includes practical training as a part of its program, so the students must complete their training or internship with a well-recognized organization. The period of the practical training is up to 3 years. However, the structure of this training program depends upon the student’s entry route.
The CA fee structure?
The fees are payable to ICAP; the students must pay a fee for each paper and the registration fee to the institute where the candidate enrolls for the CA subjects. However, the fee varies as every institute has a different fee structure.
What is the admissions process?
Well, every admission requires some paperwork. But first things first, the candidates need to check their eligibility for admission, see if ICAP, Pakistan administers the program, and check for the institutes affiliated with the ICAP; these include SKANS and CFE Group of Colleges. After doing all this research, visit the nearest college offering the CA program and carefully fill in the college’s admission registration form of the college as well as the forms of ICAP. Also, keep in mind that the students eligible for the exemption papers must apply for exemption and pay for them separately.