Program Overview
|
Round |
Procedure |
Date |
Venue |
|
Qualifying Round |
Part A: Computer-based MCQs* Part B: QuickSim |
December 12, 2023 |
Virtual |
|
Simulation & Assessment Round |
Extensive day-long Simulation |
December 16, 2023 |
KSBL-Karachi ICAP Office-Lahore |
|
Grand Finale |
Part A: Board Room* Part B: 100-seconds Part C: Spin the wheel |
December 20, 2023 |
Marquee-PC Hotel Karachi |
Eligibility Criteria:
- Chartered Accountants and other finance professionals can participate through their organizations/firms, or as an independent team.
- Each team will consist of three individuals (ICAP trainees & trainees of other professional bodies who have completed a minimum 3 years of experience are allowed to be included in the team).
- The team leader should preferably be an ICAP Member. In case the team leader is not an ICAP Member, the team must have a Fellow Member of ICAP as their coach/mentor for this Competition.
- An organization/firm can nominate a maximum of two team.
Qualifying Round
Qualifying rounds will be conducted in two segments with an aggregate maximum score of 100..
Part A: Computer based MCQs
- Accounting concepts and applications
- Business financial management
- Compliance and Governance
- ESG and Technology
Pre-defined syllabus outline is available at ICAP NFO website: www.icap.org.pk/nfo
Each section will comprise of questions on the following pattern:
|
No. |
Testing pattern |
Score per question |
No. of questions as per syllabus |
|||
|
Accounting concepts and applications |
Business financial management |
Compliance and Governance |
ESG and Technology |
|||
|
1 |
Selecting the right answer |
1 |
4 |
3 |
3 |
2 |
|
2 |
Selecting the most/least relevant answer |
2 |
6 |
4 |
4 |
6 |
|
3 |
One descriptive scenario |
3 |
3 |
3 |
3 |
- |
|
|
TOTAL |
|
13 |
10 |
10 |
6 |
The 2-hour MCQs will be conducted online. Web links and credentials for online test will be shared with registered teams.
Part B: QuickSim
Facilitated by KSBL, this session will be total of one hour with maximum score of 25 marks. QuickSim is the new segment added to the round.
Teams qualifying from this round will advance to the Simulation & Assessment Round planned on December 16, 2023 by carrying forward their scores.
Simulation & Assessment Round
- This day-long simulation round will be conducted online simultaneously for all registered teams in Karachi and Lahore.
- A professor from the Karachi School of Business and Leadership (KSBL) will conduct the simulation while independent facilitators will conduct the assessment activity.
- Facilitators will brief the teams to ensure a complete understanding of the requirements and the KPIs for online day-long simulation.
- The top six teams will advance to the Grand Finale based on consolidated scoring of both rounds.
Grand Finale
This is the third round of the Competition scheduled for December 20, 2023.
- Part A will be The Board Room
- Each team will be required to present a solution to a business, finance, economic, or environmental problem which will be assigned after the Simulation & Assessment Round.
- Time allotted for presenting the solution and convincing the jury will be a maximum of eight minutes followed by a two-minute Q/A session by the jury.
- Maximum score for Part B will be 60 marks based on defined criteria.
- ICAP nominated panel of judges and audience will evaluate all teams according to the pre-defined criteria.
- Part B will be 100 Seconds
- An ICAP-nominated facilitator/adjudicator will conduct this round.
- All teams will be given 100 seconds simultaneously to answer the maximum number of questions possible.
- Each team will have the option to pass a maximum of 3 questions, in case they don’t want to answer it.
- Each question carries 3 marks.
- Negative marking will apply for each wrong answer.
- Part C will be Spin the Wheel
- An ICAP-nominated facilitator/adjudicator will conduct this round.
- Teams will have 6 categories to choose the questions from, these categories are emancipating from the Syllabus as a. Accounting, b. Financial Management, c. Risk and Controls, d. Governance and Compliance, e. Ethics and f. ESG
- A total of 60-70 seconds will be assigned to each team to attempt the question. This will include selecting the category, choosing the risk, and attempting the question.
The team that scores the highest aggregate marks in all parts of the Grand Finale will be declared the National Finance Champion 2023.