News & Events
02-22-19Amendments in the Grids and Weightage of CFAP-2 and MSA-1
02-22-19Presentations of CAF Classes
02-15-19Introduction of E‐marking

Open Book Examination

Examinees shall be permitted to carry books in certain examinations as have been specified below:

Paper

Permitted book

CAF-7 Financial Accounting and Reporting – II Handbook of International Financial Reporting Standards
CFAP-1 Advanced Accounting and Financial Reporting Handbook of International Financial Reporting Standards
CFAP-4 Business Finance Decisions Any three books
* CFAP-5 Advanced Taxation      
  • Income Tax Ordinance, 2001 and related rules
  • Sales Tax Act, 1990 and related rules
  • Federal Excise Act, 2005 and related rules
  • The Provincial Sales Tax Acts
  • The Islamabad Capital Territory (Tax on Services) Ordinance, 2001

Explanation:

  • Examinees can bring Bare Act, Rules and SROs published by any publisher. However, any book containing commentary on Acts and Rules is not permitted.
  • Bound volume of Bare Acts, Rules and SROs printed from website do not qualify as original published books, hence are not permissible under the open book policy.

There is no limit to the number of books that can be brought under the policy

CFAP-6 Audit, Assurance and Related Services Handbook of International Auditing and Assurance Pronouncements and Code of Ethics for Chartered Accountants
MSA-1 Financial Reporting and Assurance Professional Any five books
MSA-2 Management Professional Competence Any five books
   
(ii) Only the original books duly bound shall be permitted.
(iii) Examinees shall be permitted to highlight or underline the text in the permitted books.
(iv) Any decision taken by the Institute regarding permission to carry a book in the examinations shall be final.