ICAP frequently asked questions (FAQs)

Rules of Progression

A. Yes, it is mandatory for all the students who are registered in the new education scheme to pass or get exemption from all the papers of AFC before attempting any paper of CAF Level.

A. A student can attempt the papers of CFAP level after the completion of eighteen months of the training on or before the first day of the month in which examination is to be held and have passed or
obtained exemptions from all papers of CAF.

A. The students who have passed or obtained exemptions from the following papers of CFAP shall be eligible to attempt ‘MSA-1 Financial Reporting and Assurance - Professional Competence’:
(a) CFAP-1: Advanced Accounting and Financial Reporting
(b) CFAP-6: Audit, Assurance and Related Services

The students who have passed or obtained exemptions from the following papers of CFAP shall be eligible to attempt ‘MSA-2 Management - Professional Competence’:

(a) CFAP-3: Business Management and Strategy

(b) CFAP-4: Business Finance Decisions

Need Help:

In case you didn’t find the answer you are looking for, kindly click here.