21 Papers

5.5 Years

Experienced Faculty Equivalent to Masters Degree

The Chartered Accountancy Programme focuses on building a strong foundation in strategic decision making and accounting advisory services. The program will provide broad knowledge in topics of business, economics, auditing, taxation, management, and information systems. On successful completion of the program, the students will possess strong analytical and communication abilities to succeed in the business environment. As a Chartered Accountant, the students will have to be able to provide accounting, audit, tax, advisory, and management services to business organizations. They will have the opportunity to work in multinational corporations, oil refineries, banks or even start their accountancy firm. A Chartered Accountant is not only in high demand in Pakistan but also globally.

Why Chartered Accountancy

  • Chartered Accountants have a myriad of career options including working in high multinational corporations, advising governments, and supporting charities and businesses from every industry all over the world
  • Students with a Chartered Accountancy qualification are sought by employers all over the world
  • The starting salaries for chartered accountants are impressive and compare favorably with salaries for those starting out in law, general management and banking
  • The HEC equates CA qualification to a Master’s qualification in Commerce
  • Chartered Accountancy is a secure qualification because no matter the company size everyone needs a chartered accountant


CA is a five-year program consisting of four levels and a training program:

  • Assessment of Fundamental Competencies (AFC)
  • Certificate in Accounting and Finance (CAF)
  • Certified Finance and Accounting Professional (CFAP)
  • Multi-Subject Assessment (MSA)
  • Training program: the students have to join a firm

After the successful completion of AFC and CAF, it is mandatory for students to join an authorized training organization for a period of three and a half years. The training will include specific learning for each field of specialization in accountancy through practical experience. After one and half year completion of their training, the students will also be required to give their CFAP exams. Once the relevant CFAP exams are cleared, the students will be eligible to give their MSA papers.
Moreover, as part of the CA program focus is also given to improve the students speaking and presentation skills. For this it is compulsory for the students to take the presentation and communication skills course.

This level requires understanding and awareness of the subject matter and related concepts. The candidates will be expected to have ability to understand the nature of basic concepts. Assessment of Fundamental Competencies (AFC)
Subject CodeSubjectSubject TypeExamination in MonthsObjectiveGeneral Learning Outcomes
AFC-1Functional EnglishTheoreticalMarch, September, June, and December.To ensure that candidates can communicate effectively in the English language“Candidates will be able to; ·  Use a range of vocabulary correctly. ·  Construct sentences using grammar. ·  Demonstrate the ability of speed reading and comprehension.”
AFC-2Business CommunicationTheoretical
AFC-3Quantitative MethodsMathematical
AFC-4Information TechnologyPractical/Theoretical

The competency for this level requires good understanding and detailed evaluation of the subject matter and related concepts, along with the ability to apply concepts and skills in simple professional scenario. The person will be expected to have ability to provide reasonable justification and logical explanation to support their professional judgment and decision making.

Subject CodeSubjectSubject Type
CAF-1Introduction to AccountingNumerical
CAF-2Introduction to EconomicsNumerical/Theoretical
CAF-3Business LawTheoretical
CAF-4Business Management and BehaviouralTheoretical
CAF-5Financial Accounting and Reporting-INumerical
CAF-6Principles of TaxationsNumerical/Theoretical
CAF-7Financial Accounting and Reporting-IINumerical
CAF-8Cost and Management AccountingNumerical
CAF-9Audit and AssuranceTheoretical

The competency for this level requires an in-depth understanding of the subject matter and related concepts. The person will be expected to have the ability to critically examine and evaluate all concepts and available information to make firm professional judgments and make decisions.

Certified Finance and Accounting Professional (CFAP)

Subject CodeSubjectSubject Type
CFAP-1Advance Accounting &Financial ReportingNumerical
CFAP-2Corporate LawsTheoretical
CFAP-3Business Management & StrategyTheoretical
CFAP-4Business Finance DecisionsNumerical/Theoretical
CFAP-5Advanced TaxationNumerical/Theoretical
CFAP-6Audit Assurance & Related ServicesTheoretical

Multi Subject Assessment(MSA)

Subject CodeSubjectSubject Type
MSA-1Financial Reporting & AssuranceCase Studies
MSA-2Management Professional CompetenceCase Studies

Through this course, PAC aims to equip its students with the skills and knowledge to successfully conduct presentations and help students speak eloquently.
Presentation and Communication Skills Course(PCSC)

Subject CodeSubject
PCSC-01Presentation and communication skills course I

Admission Requirement

Higher Secondary School Certificate with a minimum of 50% marks. ‘A’ Levels with minimum two passes, or equivalent qualification. Graduates with a minimum of 45% marks.

Exemption Criteria

If you are a bachelor degree holder, secured excellent marks in Intermediate/A- Levels examination or a qualified member of another professional accountancy body, you could be eligible to get exemptions from some papers/complete levels to join the ICAP. ICAP offers various routes to join CA program including reciprocal agreements, advanced credit arrangements, common content arrangements.