ICAP CA

Overview

The Chartered Accountant (CA) qualification is awarded by the Institute of Chartered Accountants of Pakistan (ICAP). Under Education Scheme 2025 it has 18 papers in total, down from 21, together with compulsory practical training at an ICAP-approved training organisation. Candidates move through PRC, CAF (or the Graduate Conversion Course), CFAP and a final Strategic Case Study, and also complete a few hands-on courses and integrated modules.

Who can apply

Entry depends on your prior education.

• HSSC or A-Levels: register for PRC with at least 60% aggregate in HSSC (or three A-Level subjects at an equivalent 60%). If your aggregate is lower than 60% but not below 50%, you must first pass the Qualifying Assessment Test (QAT).

• Associate degree holders: a degree of at least 14 years of education in any discipline from a recognised institution, with at least 45% aggregate. These candidates need not sit the QAT and can register as trainees.

• 16-year graduates from a specified or higher-ranked international university: can register as trainees and are exempt from the CAF examinations, subject to conditions.

• 16-year graduates from a relevant or higher-ranked local university: exempt from the QAT and PRC, with possible exemption from up to five CAF papers.

• Other 16-year graduates: register as trainees and take the Graduate Conversion Course (GCC) instead of CAF.

• Professional qualifications: those who have passed all ICMAP examinations can register as trainee students. Those who have passed all examinations of PIPFA, ACCA, CIMA or other relevant bodies can register as full-time students and are exempt from PRC and specified CAF papers.

The QAT is computer-based and tests English, mathematics and analytical reasoning. You get at most three attempts, and after passing you must register for PRC within twelve months or retake it.

Levels or stages

Pre-Requisite Competencies (PRC)

Three papers: PRC-01 Fundamentals of Accounting, PRC-02 Quantitative Analysis for Business and PRC-03 Business and Economic Insights. A separate English Communication Skills course, assessed by the British Council, replaces the former business writing paper. Assessments run every two months, and all of PRC must be cleared within fifteen months of the first attempt.

Certificate in Accounting and Finance (CAF)

Eight papers in two groups. Group A: CAF-01 Financial Accounting and Reporting, CAF-02 Taxation Principles and Compliance, CAF-03 Data, Systems and Risks, CAF-04 Business Law Dynamics. Group B: CAF-05 Management Accounting, CAF-06 Corporate Reporting, CAF-07 Business Insights and Analysis, CAF-08 Audit and Assurance Essentials.

You can sit at most four papers in one sitting, and Group B papers open once you have passed two Group A papers. Exams are held every six months. You have five years from your first CAF attempt to pass, with an extra year if no more than two papers remain.

Graduate Conversion Course (GCC)

For other 16-year graduates in place of CAF, with five papers: Business Concept and Environment (covering business and economic insights, quantitative analysis and business law), Taxation Principles and Compliance, Management Accounting, Corporate Reporting, and Audit and Assurance Essentials. Candidates may attempt any number of GCC papers in a sitting. Exams are held every six months, with four years from the first attempt to finish, plus an extra year if only one paper remains.

Certified Finance and Accounting Professional (CFAP)

Six papers: CFAP-01 Advanced Corporate Reporting, CFAP-02 Corporate Laws and Governance, CFAP-03 Sustainability Reporting and Assurance, CFAP-04 Strategic Business Finance, CFAP-05 Taxation Practice and Planning, CFAP-06 Audit, Assurance and Data. Exams are held every quarter from Summer 2026. Unless only one paper remains, you must sit at least two papers at a time. You have ten years to pass all papers, and with no more than two papers left the number of attempts is no longer limited.

To attempt CFAP you must have passed or been exempted from all CAF or GCC papers and have either completed twelve months of training or opted into one of the training routes described below.

Strategic Case Study

A single open-book paper based on a case study. Candidates receive pre-seen material 20 to 30 days before the exam. It is taken after passing all CFAP papers (or with one paper remaining) and meeting the other requirements, is held every six months, and has no limit on attempts.

Practical training and hands-on courses

Practical training at an authorised training organisation is mandatory. The existing 3, 3.5 and 4 year options continue. Candidates who have passed or been exempted from CAF also have two further options: 2.5 years of uninterrupted training, during which no exams may be attempted, or a three-year route that starts after passing at least four CFAP papers or two years after CAF, whichever is earlier. These choices cannot be reversed.

Hands-on courses are also required: Presentation and Personal Effectiveness and MS Office for Business at the CAF stage; Governance and Ethics before the Strategic Case Study; and AI and Data Analytics before CFAP-06.

Marking and results

Exemptions, time limits and attempt rules are set out in the stage descriptions above. Results of hands-on courses appear on the candidate's transcript. Check ICAP's examination pages for pass marks and result announcements, which are not covered here.

Fees

ICAP's fee schedule effective 1 July 2026 (Autumn 2026) lists the following:

• Qualifying Assessment Test: PKR 6,400

• Annual subscription: PKR 6,500

• Registration as a full-time student: PKR 22,000

• Registration as training on probation: PKR 26,700

• Strategic Case Study: PKR 31,900

The page also lists separate per-paper fees for PRC, CAF and CFAP, which differ by category of candidate. Check the fees page for the amount that applies to you before paying.

How to apply

1. Check which entry route matches your education, and sit the QAT if your marks require it.

2. Register with ICAP as a full-time student or a trainee, and pay the registration and annual subscription fees.

3. Enrol for papers each session and pay the per-paper fee.

4. Complete the hands-on courses and the practical training alongside the exams.

Preparation tips

For PRC, CAF and CFAP you may study by yourself or attend classes at a recognised education and training provider; ICAP encourages CAF candidates to attend classes before their first attempt. For the Strategic Case Study, read the pre-seen material carefully in the weeks before the exam.