In Pakistan, the Chartered Accountancy (CA) qualification is administered by the Institute of Chartered Accountants of Pakistan (ICAP). CA program in Pakistan consists of four stages:
Pre-Requisite Competencies This is the initial stage for students entering the CA program. It includes fundamental courses covering accounting, business communication, economics, and quantitative methods. Successful completion of the PRC stage is a prerequisite for progressing to the CAF.
Certificate in Accounting & Finance (CAF): Building on the Foundation level, the Intermediate level delves deeper into accounting, finance, and related subjects. It includes specialized courses to develop a more in-depth understanding of financial reporting, business taxation, and audit and assurance. Successfully passing the CAF stage is necessary to advance to the Final level.
Final Level: The Final level is the last stage of the CA program and consists of two stages:
- Certified Finance & Accounting Professional (CFAP)
- Multiple Subject Assessment (MSA)
Multiple Subject Assessment (MSA)
The MSA stage focuses on advanced case studies to assess practical application skills.
Upon successfully completing the Final level, candidates become eligible for ICAP membership and the prestigious title of Chartered Accountant.