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helpful for CA students entery - MOHAMMAD FAROOQ KHAN - 03-22-2010
What do I do to become a Chartered Accountant?
You must first appear in our Pre-entry Proficiency Test (PPT).
How can I appear in PPT?
Submit application on prescribed form. This form is available at all ICAP offices/Information Centre usually 2 months before the test date.
Are there any exemptions available from PPT?
Yes, PPT exemptions are available for
* HSC with minimum 60%;
* A-levels with minimum 2 Cs;
* Graduates with 1st division; and
* Post graduate.
Can I appear in PPT on result-awaited basis?
Yes, you can.
How can I get exemption from PPT?
Submit application on prescribed form. Instructions for submission are given on the form.
What is the validity of PPT?
PPT once passed is not required to be taken again and will be valid for registration in all schemes of Education and Training. However, other conditions, if any, are required to be met as applicable to a particular scheme.
How would I study for Chartered Accountancy?
You may take the following routes
* HSC/A-level students must study with RAETs (MFC scheme); and
* Graduates/Post Graduates may study privately or take coaching classes (PFC scheme/Direct graduation trainee/ Post graduation trainee scheme).
Is it possible to get transferred from scheme to another?
Yes. Please refer Inter-Scheme transfers.
Will I retain my passed papers in case of change of scheme?
Yes, cancellation of registration from any scheme does not affect the papers that the student has already passed under the previous registration.
If I change my scheme during training, whether my previous training served shall count in the completion of the training under new scheme?
No. The student will not get any credit for any previous training served. He will be required to complete the entire period under the new scheme.
How can I cancel my registration from PFC scheme?
PFC candidates may cancel their registration by submitting an application for cancellation to Director-Education and Training along with a copy of PFC registration letter.
How can I cancel my registration from Trainee Scheme?
Trainee students who want to cancel their registration from the Institute may resign from the Training Organization and submit the resignation to the principal of the Training Organization. The principal shall enclose his resignation with its forwarding letter.
What are RAETs?
RAETs are Registered Accounting Education Tutors approved by ICAP to provide coaching classes to students of MFC in Karachi, Lahore, Islamabad, Peshawar, Faisalabad, Multan, Sialkot, Rawalpindi, Abottabad and Hyderabad.
Is it possible to get transferred from one RAET to another RAET?
Yes. The transfer shall be as follows
If a student wants to transfer from one RAET to another RAET before the commencement of course; he shall submit voucher of transfer fee along with his original MFC card and photograph.
Where the student wants to get transferred from one RAET to another 1 month from the commencement of the session in Module B or D, he may apply for transfer by submitting an application for transfer along with his original MFC card, photograph, NOC from the transferor & transferee RAET and voucher of transfer fee.
Is training mandatory?
Yes, training with an approved audit firm/Training Organization is mandatory.
What is the eligibility period for examinations during training?
Please refer Eligibility Period during Training.
Where would I be trained?
There are around 200 approved CA Firms/Training Organizations in Pakistan that are permitted to train students.
Is it possible to get transferred from one CA firm/Training Organization to another?
Where a student wants to get transferred from one CA firm/Training Organization to another, he shall apply for No Objection Certificate (NOC) from the CA firm/Training Organization from where he is currently pursuing his training. After obtaining the NOC from the CA firm/Training Organization he will enter into a new a training contract for the remaining period and send a copy of the contract to the Institute for re-registration.
The trainee student must join another Training Organization from the very next day after getting his NOC. Registration papers must be submitted within 1 month from the date of joining the new Training Organization.
Will I be paid during training period? ICAP has prescribed minimum stipend to be paid to the students.
Will I get leave for examinations preparation?
ICAP has prescribed study leave during training.
Is the CA qualification recognized?
Yes. The HEC has accepted the certificate of chartered accountancy qualification as equivalent to the Degree of Masters in Commerce
Is there any financial assistance available to needy students?
Yes, ICAP offers Interest Free Educational Loan (IFEL) to pay the tuition fee of RAETs. One may apply for IFEL directly to ICAP or through his RAET.
Is there any recommended study material by the Institute?
Yes. The following publishers are authorized by us to publish our study material
* A T Foulks Lynch Pakistan; and
* Professional Business Publications (PBP).
Where can I get the International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISAs) from?
You can obtain them from the Facilitation Centre of ICAP.
Where IFRS or ISAs are revised during the year, what will be the due attempt of their testing in exams?
The IFRS or ISAs, where revised during the year, shall be tested in examinations after 6 months from the date of their publication.
What are the minimum passing marks?
The minimum passing marks are 50.
Are there any exemptions awarded for prior learning?
Please refer
* Opportunities for Quality Students.
* Professional Exemptions.
Revised Modular Scheme
I failed in Module A in Autumn'06 examination, whether I will attempt Module A in Spring' 07 examination as per new policy?
Yes i.e., you will attempt only two papers of Module A.
I appeared in Autumn'06 examination in Module A and passed, in which subject will I appear in Module B examination?
You will appear in only 2 papers of Module B as per the revised scheme and will not take the exams of the paper Introduction to Economics and Finance again.
I have a referral in the paper Introduction to Economics and Finance, whether I will attempt this paper along with Module B papers i.e. Introduction to Financial Accounting and Mercantile Law?
Yes. Besides, you can also take the examinations of both Module B & C in a single attempt.
I appeared in Module B examination in Autumn'06 and failed, in which subject will I appear in Spring'07 examination?
You will appear in only 2 papers of Module B as per the revised scheme and will not take the exams of the paper Introduction to Economics and Finance again, if already passed in Module A. Besides, you can also take the examinations of both Module B & C in a single attempt provided you have passed the papers Functional English and Quantitative Methods.
I passed the paper Introduction to Information Technology (theory & practical) in Autumn'06 but got a referral in the remaining papers of Module B. Will I be required to appear in the paper Information Technology (theory & practical) again in Module D?
Yes. You will be.
I passed all the papers of Module B including the paper Introduction to Information Technology (theory & practical) in Autumn'06. Will I be required to appear in the paper Information Technology (theory & practical) again in Module D?
Yes. You will be.
I got a referral in the paper Introduction to Information Technology of Module B and passed remaining papers, what will be my status?
This paper will be deemed exempt for the purpose of progression to the next module. You can also take the examination of Module C and D in a single attempt.
I got failed in the paper Introduction to Information Technology of Module B and passed remaining papers, what will be my status?
You will take the exams of two papers of Module B. Besides, you can take the examination of Module B and C together, provided you have passed the papers Functional English and Quantitative Methods.
I appeared for Module A & B examination together and got a referral in the papers Introduction to Information Technology and Introduction to Economics and Finance, what would be my situation in appearing for the next examination?
You are required take the examination of Module C along with the paper of Introduction to Economics and Finance. You will be deemed exempt from the paper Introduction to Information Technology.
I have been appearing for referral papers of Introduction to Information Technology of Module B and Information Technology of Module D since last two sessions. What will be my status?
The referral in Introduction to Information Technology of Module B shall be deemed exempt and the referral in Information Technology of Module D shall be attempted as per the revised syllabus.
I am taking classes for two consecutive modules simultaneously at a RAET and I got 80% attendance in one module but below 80% in the other module, whether I should obtain 80% in both modules separately or cumulative 80% attendance of both modules will suffice?
You should obtain 80% in both modules separately.