Certified Finance and Accounting Professional (CFAP)Past Papers:
Download Certified Finance and Accounting Professional (CFAP)Past Papers from google drive at a single click.
Summer Examination:
Summer Examination 2018:
- Advanced Accounting & Financial Reporting
- Corporate Law
- Business Management & Strategy
- Business Finance Decisions
- Advanced Taxation
- Audit Assurance & Related Services
Summer Examination 2017:
- Advanced Accounting & Financial Reporting
- Corporate Law
- Business Management & Strategy
- Business Finance Decisions
- Advanced Taxation
- Audit Assurance & Related Services
Winter Examination:
Winter Examination 2018:
- Advanced Accounting & Financial Reporting
- Corporate Law
- Business Management & Strategy
- Business Finance Decisions
- Advanced Taxation
- Audit Assurance & Related Services
Winter Examination 2017:
- Advanced Accounting & Financial Reporting
- Corporate Law
- Business Management & Strategy
- Business Finance Decisions
- Advanced Taxation
- Audit Assurance & Related Services
Winter Examination 2018:
- Advanced Accounting & Financial Reporting
- Corporate Law
- Business Management & Strategy
- Business Finance Decisions
- Advanced Taxation
- Audit Assurance & Related Services
CFAP GENERAL EXAMINATION GUIDANCE
Scope of studies applicable on all examinations Effective from Summer 2019,
Any revision and amendment in legislation, standard, code, guideline and statement shall
not be part of syllabus before six months’ period elapsed:
a) in case of legislation, from the date of publication thereof by the issuing authority;
b) in case of revised or new standard, code, guideline and statement, from the date of
publication of study material by the Institute or date of application prescribed by the
issuing authority of the same, whichever is later; and
c) in case of changes in existing standard, code, guideline and statement, from the date
of publication or notification by the Institute even if they are applicable on a later date.
Provided that Finance Act or Ordinance, and notifications and circulars relating to Finance
Act or Ordinance, issued four months prior to the date of examination shall be considered
forming part of syllabus, in case of CFAP.
For Winter 2021 attempt:
International financial reporting standards (IFRS) edition 2020 will be applicable.
International auditing and assurance standards (ISA) edition 2018 will be applicable.
Code of ethics edition 2019 will be applicable.
Syllabus – Testing Levels
*Testing Level and assessment of contents of earlier stages of qualification
The following policy for testing level and assessment of contents shall be applicable for
Accounting related subjects i.e. (CAF 1 Introduction to Accounting, CAF 5 Financial Accounting
and Reporting-I, CAF 7 Financial Accounting and Reporting-II and CFAP 1 Advanced
Accounting and Financial Reporting)
a. Technical contents assessed at earlier stages of qualification will be tested in later stages
with a limit of 8 marks per topic in an attempt.
b. The contents of syllabus may classify topics at three testing levels from 1 to 3 with a
maximum limit per question as 8, 20 and 25, respectively.
c. The overall marks of earlier stage topics and testing level-1 topics, as mentioned above, will
have a maximum limit of 35 marks in aggregate in an attempt.
*Explanation: A topic of CAF 1 can be examined in CAF 5, CAF 7 and CFAP 1 even if it is not in
the syllabus or study material of the later stage papers, likewise CAF 5 topics can be examined
in CAF 7 and CFAP 1; and CAF 7 topics can be examined in CFAP 1
The Institute is pleased to give the following guidance for preparation of examinations:
- Students are required to prepare for examination
according to the Learning Outcomes and Syllabus
Contents specified in Directive 1.01. - All ICAP publications of International Financial
Reporting Standards (IFRS) and International
Standards on Auditing (ISAs), Code of ethics are
examinable under the respective sections of
syllabus. - The Companies Act 2017, and the other laws, rules
and regulations which are mentioned in the
respective sections of syllabus are examinable. - Income Tax Ordinance 2001, and the other laws,
rules and regulations which are relevant to the
respective sections of syllabus are examinable. - In order to help the students in preparation of their
examination, the Institute publishes:
a. Practice Kits for CFAP -2 Corporate Laws and
CFAP-5 Advanced Taxation and study material
(comprising study support material and
practice kit) for all other subjects of CFAP.
b. Workbooks for MSA level examination - For the section on Governance, Ethics and
Professionalism for CFAP 02 – Corporate Laws,
students are advised to prepare from:
a. Chapters 4 and 5 of the book “Managing Business
Ethics-Straight talk about how to do it right (Fifth
Edition)” by Linda K. Trevino & Katherine A. Nelson,
b. Public Sector Companies (Corporate Governance)
Rules, 2013 and
c. Code of Corporate Governance, 2019 for listed
Companies
Focus:
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