1. What is CA?
CA is the qualification of chartered accountancy. It is one of the most rewarding careers that anyone can opt to excel in life. There are vast job opportunities for the Chartered Accountant in Pakistan as well as in foreign counties. Even the fresh graduates are offered a handsome salary package in the local and multinational companies.
2. Who can apply for CA?
There are two CA routes of entry for the students that wanted to apply for the CA
The students should have 50% marks in the intermediate or equivalent study program.
The candidates with 45% marks in the graduation are eligible to enroll in the CA course.
3. How many papers are there in CA?
The CA consists of four parts and each part contains different papers. It is mandatory for students to clear all the parts. Following is the division of papers
Assessment of Fundamental Competencies (AFC) 4 Papers
Certificate in Accounting and Finance (CAF) 9 Papers
Certified Finance and Accounting Professional (CFAP) 6 Papers
Multi-subject Assessment (MSA) 2 Papers
4. Which authority is behind CA in Pakistan?
In Pakistan, CA is administered only by the Institute of Chartered Accounting of Pakistan (ICAP). The institute is working to produce quality accountants by maintaining the standard of education.
5. How much does it cost for CA?
In CA, the students have to pay for each paper separately alongside the registration fee and the tuition fee. Generally, the cost of the CA ranges from 4-5 lacs in case the students clear all the papers in the first attempt. Otherwise, the cost of the CA will be considerably enhanced for the second and third attempts of the paper.
6. Which cities have CA institutes?
Many cities across Pakistan have institutes that offer their services so that students can prepare for CA easily. In case the tuition is required the students can easily approach the CA preparation institutes in Karachi, Lahore, Quetta, Faisalabad, Gujranwala, Abbottabad, Peshawar, Rawalpindi, Hyderabad, and many other cities.
7. After CA, what kinds of jobs are offered?
After CA, the jobs are offered in both public and private sectors because almost every organization needs chartered accountants to deal with the financial affairs. Some of the jobs for the CA qualifier are Auditor, Bank Examiner, Certified Public Accountant, Chief Accountant, Controller, Finance Manager, and Financial Analyst. Moreover, NAB and FBR also appoint chartered accountants.
8. What is the duration of CA in Pakistan?
The duration of CA depends upon the pace with which the candidates clear the exams. In Pakistan, there are 21 papers in the CA course divided into four parts. So it usually takes 5-6 years to complete the CA.
9. How many attempts are allowed at the AFC level?
Assessment of Fundamental Competencies exams contains four papers and student can have three attempts for each paper. In case the students have passed two papers in three attempts then they will be provided two additional attempts for remaining papers.
10. At CAF level how many attempts are available?
At Certificate in Accounting and Finance level, six attempts are provided to students for each paper. If the students have cleared seven papers in six attempts, then they can avail the opportunity of having two additional attempts for the remaining papers.
11. How many attempts are available for CFAP and MSA?
At the CFAP level, six attempts are available for each paper. For MSA exams, unlimited attempts are allowed to candidates to pass the papers. But in case the students have cleared three papers in the six available attempts then unlimited attempts will be provided to them for remaining papers.
12. Can a student appear in the exams from abroad?
The students can only appear in the Certified Finance and Accounting Professional and Multi-subject Assessment examinations from abroad such as Dubai and Riyadh.
13. What is the procedure of rechecking of the CA papers?
The candidates can apply for the rechecking within 30 days after the declaration of the final result. The examinees have to submit the form alongside with the specified fee to review their paper. The review process considers certain points such as marking was free from errors and marks were calculated correctly. The CA rechecking fee per paper is 1500/-.
14. How many preparation institutes of chartered accountants are in Pakistan?
There are various preparation institutes of chartered accountants in Pakistan. Some famous are mentioned below: