What is an Exemption?
If a student is granted an exemption, it means that he or she does not need to write the particular exam(s) for which he/she was exempted in order to obtain a qualification. Exemptions are usually granted on the basis of relevant prior studies. The purpose of granting exemptions is to reduce the time that it takes to become qualified for those students who have already undergone training in the subject matter that is to be examined.
Students are required to apply for any exemptions for which they might be eligible, as exemptions are not granted automatically. Exemption fees will usually be charged per module or per exam paper for which exemption is granted.
CIMA Exemptions for ICAP:
ICAP is the Institute of Chartered Accountants of Pakistan. Exemptions are granted by CIMA to students who have already completed CA(ICAP), and vice versa.
From ICAP to CIMA:
Students who have passed all the exams for CA(ICAP) will be eligible for exemption from the CIMA Certificate in Business Accounting and from one paper of the CIMA Professional Qualification: Managerial Level.
Students who have passed Module A to D of CA(ICAP) will be eligible for exemption from all papers of the CIMA Certificate in Business Accounting, except for the Business Law paper.
From CIMA to ICAP:
Students who have passed all of the CIMA exams will be eligible for exemption from the PPT, Foundation and Intermediate examinations (Modules A to D) of ICAP.
Such students will also be able to enter directly into a three-year training contract, and will be allowed complete the Module E exams 18 months after entering into the training contract and will be allowed to complete the Module F exams during the last year of their practical training.
Last updated: December 13th, 2016