The Institute of Chartered Accountants of Pakistan (ICAP)

Introduction of the Professional Body
Is a professional body of Chartered Accountants in Pakistan, and represents accountants employed in public practice, business and industry, and the public and private sectors. The Institute is a member of the International Federation of Accountants (IFAC) which is the global organization for the accountancy profession.
"ICAP has approx. 7300 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 2013. 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 the centrifugal forces that continue to pull us towards diversification, yet persuade us to retain our distinctive identity.
The head office of the Institute is housed in its own premises in Karachi at Teen Talwar, Clifton with regional offices in Islamabad, Lahore, Multan, Faisalabad and Peshawar.

Benefits of ACCA Qualification

  • Obtaining such a qualification is evidence that the holder possesses skills and knowledge which are in high demand by employers in industry, banking, auditing, consulting as well as other professions like taxation and law
  • The qualification has three and a half year mandatory training requirement with a Chartered Accountant firm ensuring the practical side of the qualification
  • Enables you to become competent enough to reach at the top most level of any business organizations, including large multinational, banks, leasing companies etc
  • Provides an opportunity to set up own Chartered Accountant firm, having license to conduct statutory audits, provide tax and consultancy service

Eligibility

ACCA offers different entry routes, depending on your age and previous academic qualifications.

There are two schemes of Entry:

  • Full Time Study Scheme
  • Trainee Scheme

Full Time Study Scheme

  • Candidates who have HSSC with minimum 50% marks, ‘A’ Levels with minimum two passes or equivalent qualification and graduates with minimum 45% marks.
  • Students meet the above criteria can enter the first level (AFC) after registration.
  • Before entering into the professional examination candidates pass or obtain exemption from entrance test; Assessment of fundamental Competencies (AFC). A candidate may be provisionally registered for AFC examinations as fulltime student if result is awaited
  • On successful completion of CAF, it is mandatory for the students to join an authorized training organization of the Institute for a prescribed period.

During training the candidate qualifies the following stages:

  • Certificate in Accounting and Finance (CAF)
  • Certified Finance and Accounting Professional (CFAP)
  • Multi subject Assessments (MSA)
  • Financial Reporting Professional Competence; and Audit professional competence.

Exemptions for CA Qualification

Candidates seeking exemptions under any of the schemes are required to apply on the prescribed Form along with the prescribed fee and supporting documents/certificates as mentioned on the Form to the Directorate of Examinations before the prescribed date of submission of examinations forms.
All the exemptions will be approved by the Directorate of Examinations, after scrutiny of each case independently.

For Brilliant and Talented 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 year degree from any university
  • Higher Secondary School Certificate or equivalents
  • A Levels

Papers for CA Program 

Level Papers Subjects
AFC AFC-1 Functional English
AFC-2 Business Communication
AFC-3 Quantitative Techniques
AFC-4 Introduction to information Technology
Certificate in Accounting & Finance(CAF)
CAF CAF-1 Introduction to Accounting
CAF-2 Introduction to Economics and Finance
CAF-3 Business Law
CAF-4 Business Management & Behavioral Studies
CAF-5 Financial Accounting & Reporting-1
CAF-6 Principles of Taxation
CAF-7 Financial Accounting & Reporting-2
CAF-8 Cost and Management Accounting
CAF-9 Audit and Assurance
CFAP CFAP-1 Advanced Accounting and 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 MSA-1 Financial Reporting Professional Competence
MSA-2 Audit Professional Competence

ICAP Fee Structure 

Registration Fee Rs 12,000
Assessment of Fundamental Competencies (AFC) ICAP Exam Fee
AFC-1 Functional English • 4 papers of same Level - 9,100
• 3 papers of same Level - 7,100
• 2 papers of same Level - 5,100
• 1 paper - 3,100
AFC-2 Business Communication
AFC-3 Quantitative Techniques
AFC-4 Introduction to Information Technology • Computer Based Exam - 700
(Additional charges per Paper)
Certificate in Accounting & Finance (CAF)
CAF-1 Introduction to Accounting • 5 papers of same Level - 11,100
• 4 papers of same Level - 9,100
• 3 papers of same Level - 7,100
2 Papers for same level- 5,100
1 Paper-3,100
CAF-2 Introduction to Economics & Finance
CAF-3 Business Law
CAF-4 Business Management & Behavioral Studies
CAF-5 Financial Accounting and Reporting – I
CAF-6 Principles of taxation
CAF-7 Financial Accounting and Reporting – II
CAF-8 Cost and Management Accounting
CAF-9 Audit and Assurance

Final Examination

Stage/ Module Subjects ICAP Examination fee per Module (Rs.)
Final Examination
Candidates appearing from: Dubai Riyadh Pakistan
AED SR Pak Rupees
4 papers of same module 1,070 1,100 13,000
3 papers of same module 965 1,000 11,000
2 papers of same module 880 900 9,000
1 paper 780 800 6,500
Annual subscription Fee 45 45 1,000
Exemption Fee Rs.
Assessment of Fundamental Competencies (AFC) – Per Paper 2,800
Certificate in Accounting and Finance (CAF) – Per Paper 3,400
Final Examination – Per Paper 5,350
Module E (Complete Module) 16,700
Module F (Complete Module) 16,700
For PIPFA qualified candidates 21,400
For ICMAP qualified candidates 38,400
For CIMA qualified candidates 22,600
For ACCA Qualified Candidates
Exemption from six papers 19,200
Exemption from seven papers 22,600
Exemption from eight papers 26,000
For ICAEW / ICAI / ICAS / ICAA / CICA qualified candidates 75,200

Examination Schedule and Important Dates 

Month Session Stage
Feb-Mar Spring AFC and CAF
May-June Summer CFAP and MSA
Aug-Sep Autumn AFC and CAF
Nov-Dec Winter CFAP and MSA

Practical Experience Requirement

Period of training varies from with the academic or professional education background of the trainee. The following table provides information about the length of the period of training period

Sr. No. Qualification on the Commencement of Training Training Period
1 Candidates who have passed or obtained exemptions from CAF 3.5 yrs
2 Four year Graduates/Post Graduates from University approved by Ed Com of ICAP 3 yrs
3 Graduates/Post graduates other than those mentioned (ii) above 4 yrs

Benefits of Studying CA from CFE

  • Faculty includes professional tutors including 12 CA's
  • Accreditation from world renowned professional bodies
  • Leading brand in Accountancy and Finance qualifications
  • Self developed, research based study material comprehensive and organised study programmed ensuring guaranteed success in each examination
  • After lectures academic support
  • Merit based scholarships and financial assistance
  • Regular class tests, quizzes and mock examinations
  • Career counselling

CFEs Accreditation/ Affiliation with CA (ICAP)

CFE is ICAP's approved Registered Accounting Education Tutor (RAET)

Tuition Fee 

CFE Registration Fee: Rs. 7,000
Papers Subjects CBE Preparation Charges Fee (Rs.)
AFC-1 Functional English 2,500 15,000
AFC-2 Business Communication 2,500 10,000
AFC-3 Quantitative Techniques 2,500 30,000
AFC-4 Introduction to information Technology 10,000
CAF-1 Introduction to Accounting 15,000
CAF-2 Introduction to Economics and Finance 15,000
CAF-3 Business Law 15,000
CAF-4 Business Management & Behavioral Studies 15,000
CAF-5 Financial Accounting & Reporting-1 15,000
CAF-6 Principles of Taxation 15,000
CAF-7 Financial Accounting & Reporting-2 15,000
CAF-8 Cost and Management Accounting 15,000
CAF-9 Audit and Assurance 15,000
CFAP-1 Advanced Accounting and Financial Reporting 15,000
CFAP-2 Corporate Laws 15,000
CFAP-3 Business Management & Strategy 15,000
CFAP-4 Business Finance Decisions 15,000
CFAP-5 Advanced Taxation 15,000
CFAP-6 Audit, Assurance & Related Services 15,000
MSA-1 Financial Reporting Professional Competence 20,000
MSA-2 Audit Professional Competence 20,000

Financial Assistance

  • The financial assistance approved will be applicable for the current session only. If a student wishes to apply for the next session, a new application along with new enclosure will be required and complete procedure to be followed.
  • Students who are transferring from FIA, ACCA or CIMA will require filling a new application along with the required enclosures.
  • The financial assistance approved in previous qualification will not be carried forward. The new application will be assessed again

Procedure

  • Forms should be submitted to Manager Coordination/ Manager Operations.
  • Students will be interviewed by Manager Coordination/ Manager Operations.
  • Based on the interview, recommendation is made to the Principal for Financial Assistance.
  • Principal approves the Financial Assistance as per policies of the institute and keeping in view the budget of donations- allocated.
  • All applications will be processed within one week of submission.

Scholarships 

Merit Based Scholarships
Qualification Marks Obtained Scholarship
(%age of Tuition Fee)
Intermediate Position holder 100%
80% or above 50%
75% - 79% 30%
65% - 69% 25%
A-levels Position holder 100%
6 or more A's 50%
2 A's 40%
1A + 1B 25%
B.A / B.Sc Position holder 100%
70% or above 50%
65% - 69% 30%
B.Com Position holder 100%
80% or above 50%
75% - 79% 40%
70% - 74% 30%
Students domiciled and resident outside Lahore 20%
Hafiz-e-Ouran 20%
Orphans 20%

Faculty 

Paper Name Qualification Teaching Experience Email
CAF-1, CAF-5, CAF-6, CAF-7, CAF-9, E-14 & F-19 Khalid Mehmood FCA, PhD Scholar (Accounting) 12 khalid.mehmood@cfe.edu.pk
F17, F18 Adnan Rashid FCA 12 adnan@cfe.edu.pk
CAF-5, CAF-7 & E-14 Asim Amin FCA, FCCA 11 asim@cfe.edu.pk
CAF-1, CAF-5 Shahid Ali ACCA, M.Com 6 shahid@cfe.edu.pk
CAF-5, CAF-9 Asim Nazir FCA 4
CAF-9, F20 Rana Muhammad Usman FCA 15
CAF-4 & E16 Kamran Azim FCA 10
CAF-6, CAF-8 Zahid Qavi FCA 11
CAF-3, E-15 Qasim Imam FCA 12
CAF-7, CAF-9 Abu Bakar FCA, FCCA 11
AFC-4, CAF-4 & E-13 Ashraf Rehman BCS, MBA, M.Phil-IT (Cont.) 17
CAF-8, & F-17 Abdul Azeem ACCA, M.Com, Dip-FM, PhD Scholar (Finance) 9
CAF-9 Sadaf Maaz ACA, FCCA 11
AFC-1, AFC-2 Sadaf Hassan MBA 8
CAF-1, CAF-5 Yasir Gonadal M.Com, PhD Scholar (Finance) 10 yasir@cfe.edu.pk
CAF-3 Erum Shafiqu LLB 13
AFC-3 Sanaullah Minhas M.Sc (Mathematics) 10
AFC-3 Dawood Shahid CA (Finalist) 6
AFC-3 Muhammad Javed Bhatti M.Sc (Statistics) 11
CAF-2 Dr. Muhammad Nawaz PhD (Economics) 9
AFC-3, CAF-2 Mubashir Waseem M.Sc (Economics), MBA, MCS, M.Phil HRM 17 yasir@cfe.edu.pk
CAF-9 Saqlain Siddiqui ACA 5
AFC-1, AFC-2 Sadia MA(English), MA(Linguistic) 10
AFC-1, AFC-2 & CAF-4 Gulzareen MA(English), MA(Linguistic), MA(Int. HRM) 3

ASD

  • Out-of-Class academic support to weak students
  • Make-up classes for those who have missed out the regular class
  • Additional practice sessions, especially for numerical subjects

     Admission Rules

  1. Registration fee is non-refundable and non-transferrable
  2. Admission process must be completed before commencement of classes by depositing institute's dues
  3. If you wish to withdraw or transfer your fee (pre result) of one or more papers, you can do so by writing an application in specified form to the course coordinator within 2 weeks from the commencement of the course
    • The fee shall be transferred without deduction
    • A deduction of 10% of applicable fee shall be made at the time of refund
      No application for refund or transfer shall be entertained in any case after the expiry of above period
  4. If you have appeared in the recent ACCA/AFD examination and awaiting result, you can withdraw or transfer your fee upon the declaration of result by writing an application to the course coordinator within the period of one week from the announcement of result
    • In case of transfer, no deduction shall be made if the fee is transferred to the same paper in next session.
    • In case of paper change, 50% of applicable fee is deducted and 50% will be transferred to immediate next session
    • In case of refund after the declaration of result, 50% of applicable fee will be deducted
  5. If your application for fee refund or transfer is not in accordance with above criteria, no such application shall be entertained. Please note that crossed cheque of fee refund shall be issued to the credit of the student or in the name of parents
  6. Any application for refund/transfer will be processed within one week after the above-mentioned deadlines
  7. Any outstanding dues must be cleared as per due dates
  8. After the expiry of due date, students with outstanding balance will not be allowed to take classes anymore
  9. Students are not allowed to drop any course/paper after enrollment
  10. If a student wishes to take extra class of any paper with other batch, he/she must inform the respective course coordinator
  11. If a student wishes to re-sit in any course, 50% tuition fee will be charged
  12. Course, for which a student is enrolled, may be cancelled, due to any circumstance, beyond institution’s control. However, in the event of such cancellation, students will be informed and fee submitted will be refundable without any deduction

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