The Institute of Chartered Accountant of Pakistan Education Scheme 2013 1GCA Official

The Institute of The Institute of Chartered Accountant of Chartered Accountant of

PakistanPakistan

Education Scheme 2013Education Scheme 2013

1GCA Official www.gcaofficial.org

Conceptual Background

7

Knowledge and comprehensionKnowledge and comprehension

Application and AnalysisApplication and Analysis

Professional judgment, forming opinion and decision making

Professional judgment, forming opinion and decision making

Support roleSupport role

Operational role Operational role

Leadership role as Chartered Accountant

Leadership role as Chartered Accountant

GCA Official www.gcaofficial.org

Revised Qualification Structure

5

T r a i n i n g


Revised Qualification StructureAssessment of Fundamental Competencies (AFC)Assessment of Fundamental Competencies (AFC)

6

Functional EnglishFunctional English

Business CommunicationBusiness Communication

Introduction to Information TechnologyIntroduction to Information Technology

Quantitative MethodsQuantitative Methods

Foundation/screening for a career as CA



7

Introduction to AccountingIntroduction to Accounting

Introduction to Economics & FinanceIntroduction to Economics & Finance

Business Management & Behavioral StudiesBusiness Management & Behavioral Studies

Business LawBusiness Law

Financial Accounting & Reporting IFinancial Accounting & Reporting I

Principles of TaxationPrinciples of Taxation

Financial Accounting & Reporting IIFinancial Accounting & Reporting II

Cost & Management AccountingCost & Management Accounting

Audit & AssuranceAudit & Assurance

Knowledge and ComprehensionSupport Role

Certified in Accounting and FinanceGCA Official

www.gcaofficial.org


8

Advanced Accounting & Financial ReportingAdvanced Accounting & Financial Reporting

Business Finance DecisionBusiness Finance Decision

Advanced TaxationAdvanced Taxation

Corporate LawCorporate Law

Business Management & StrategyBusiness Management & Strategy

Audit Assurance & Related ServicesAudit Assurance & Related Services

Application and AnalysisOperational Role

Certified Finance and Accounting Professional



9

Formation of Professional Opinion, Advisory and Decision MakingLeadership role

Chartered Accountant


Qualification Streams

10 GCA Official www.gcaofficial.org

Full Time Student


Trainee Student


Exemptions

4 year Graduates from non-SDAI

4 year Graduates from SDAI

CAFCAF AFCAFC CAFCAFAFCAFC


Exemptions

2 year Graduates

AFCAFC AFCAFC AFCAFC

HSSC A Levels


Exemptions

Exemptions to following accountancy bodies are available subject to conditions stipulated in the scheme:

• ACCA• CIMA• ICMAP• PIPFA

• Other professional qualifications on case to case basis


Education Delivery

SDAI optionICAP has so far approved IBA and LUMS and following a cautious approach in approving universities.

Self study optionExam-aligned study support material would be available, but not a recommended mode of study in view of limited attempts.

RAET optionSpecialized in ICAP exams

Full involvement of ICAP in ensuring best tuition facility provided by RAETs.

RAETs would be ranked according to their performance judged on pre-defined criteria/KPIs.


Practical Training

The existing Training Regulation and Guidelines would remain effective


Transition

Students of Modules A to D would be transferred to new scheme from

Autumn 2014

Students of Modules A to D would be transferred to new scheme from

Autumn 2014

Students of Modules E and F would be gradually transferred to new scheme

The transition would commence from Summer 2017

And would fully completed by Winter 2019

Students of Modules E and F would be gradually transferred to new scheme

The transition would commence from Summer 2017

And would fully completed by Winter 2019


Equivalencies

Equivalencies for CFAP stage would be given according to the transition scheme

Equivalencies for AFC and CAF stages shall be given at the commencement of the Education Scheme 2013

There shall be no equivalency for Multi-subject Assessment (MSA)


Equivalencies (AFC)

7

Functional EnglishFunctional English

Business CommunicationBusiness Communication

Quantitative MethodsQuantitative Methods

Functional English (Module A)Functional English (Module A)

Business Communication and Behavioural Studies (Module C)

Business Communication and Behavioural Studies (Module C)

Quantitative Methods (Module A)Quantitative Methods (Module A)

Introduction to Information Technology

Introduction to Information Technology

Information Technology (Module D)

Information Technology (Module D)


Equivalencies (CAF)

7

Introduction to AccountingIntroduction to Accounting

Introduction to Economics and Finance

Introduction to Economics and Finance

Business Law (Mercantile law section)Business Law (Company law section)Business Law (Mercantile law section)Business Law (Company law section)

Introduction to Financial Accounting (Module B)


Introduction to Economics and Finance (Module B)

Introduction to Economics and Finance (Module B)

Mercantile law (Module B)Company law (Module D)Mercantile law (Module B)Company law (Module D)

Business Management and behavioural studies

Business Management and behavioural studies

Business Communication and behavioural studies (Module C)Business Communication and

behavioural studies (Module C)


Equivalencies (CAF)

7

Financial Accounting & reporting IFinancial Accounting & reporting I

Principles of TaxationPrinciples of Taxation

Financial Accounting & reporting IIFinancial Accounting & reporting II



Taxation (Module C)Taxation (Module C)

Financial Accounting (Module C)Financial Accounting (Module C)

Cost and Management AccountingCost and Management Accounting Cost Accounting (Module D)Cost Accounting (Module D)

Audit and assuranceAudit and assurance Auditing (Module D)Auditing (Module D)


RAET System

Increased engagement between ICAP and RAETsIncreased engagement between ICAP and RAETs

Performance based ranking system• Fellow• Affiliate

Performance based ranking system• Fellow• Affiliate


Performance based ranking systemKey Performance areas•Focus of RAET on CA qualification or exclusive resources for CA stream•Maintenance of infrastructure and facilities•Promotion of CA profession•Engaging good quality faculty•Providing good teaching environment•Performance of students in CA examinations•Level of coordination with ICAP Self assessment by RAETs – Assurance report by an independent QCR rated firm

Ranking•Fellow•Affiliate

Key Performance areas•Focus of RAET on CA qualification or exclusive resources for CA stream•Maintenance of infrastructure and facilities•Promotion of CA profession•Engaging good quality faculty•Providing good teaching environment•Performance of students in CA examinations•Level of coordination with ICAP Self assessment by RAETs – Assurance report by an independent QCR rated firm

Ranking•Fellow•Affiliate


Increased engagement between ICAP and RAETsWith Fellows•Prominent exposure on website, in the events and front offices•Mention of Fellow RAETs in advertisements and exhibitions•Closer relationship and feedback facility in respect of examinations and results including sharing of actual performance of failures of respective RAETs•Consultation on policies regarding education, delivery of education and examinations•Participation in annual coordination meeting•Priority in train the trainers program

With affiliates•Moderate level exposure on website, in the events and front offices•Closer relationship and feedback facility in respect of examinations and results including sharing of actual performance of failures of respective RAETs •Participation in annual coordination meeting

With Fellows•Prominent exposure on website, in the events and front offices•Mention of Fellow RAETs in advertisements and exhibitions•Closer relationship and feedback facility in respect of examinations and results including sharing of actual performance of failures of respective RAETs•Consultation on policies regarding education, delivery of education and examinations•Participation in annual coordination meeting•Priority in train the trainers program

With affiliates•Moderate level exposure on website, in the events and front offices•Closer relationship and feedback facility in respect of examinations and results including sharing of actual performance of failures of respective RAETs •Participation in annual coordination meeting


24GCA Official www.gcaofficial.org

Documents

The Institute of Chartered Accountant of Pakistan Education Scheme 2013 1GCA Official