Diploma in IFRS

Keeping in view the convergence, undergone by the major economies of the world such as United States of America, China and Canada, of the International Financial Reporting Standards with respective local GAAP, the demand for IFRS specialists is increasing. The Institute of Chartered Accountants of Pakistan (ICAP) is introducing a diploma in IFRS to prepare the candidates to avail such opportunities.

AIMS AND OBJECTIVES

The Diploma in IFRS aims to:

Develop expertise in the application of accounting concepts under the International Financial Reporting Standards.
Create avenues of international mobility.
Provide an opportunity to candidates of taking their accounting skills to highly advanced level and be able to progress within various accounting support roles as IFRS specialists.

MINIMUM ELIGIBILITY

Candidates who are qualified up to Module D of modular scheme of Chartered Accountancy program (or given equivalence thereto by ICAP) are eligible to enroll in this diploma.

ASSESSMENT

The candidates will be required to undertake an examination conducted by ICAP.

Assessments will be held bi-annually in   June and December

It will consist of two exams:

Paper 1    Multiple Choice Questions 100 Marks
Paper 2    Scenario Based Questions 100 Marks

Minimum passing marks are:

Paper 1      75%
Paper 2      50 %

Registration Deadlines

For June examination :           by 31st May
For December examination :   by 30th November

Candidates will be eligible to retain their passed paper irrespective of their result in other paper.

Candidates will be allowed to bring bound volume of IFRS published by ICAP in Paper 2 Examination.

SYLLABUS

Preface to IAS

Framework for the preparation and presentation of financial statements
Expert level knowledge required in IFRS 2 to 8
Introductory level knowledge required in IFRS 1
Expert level knowledge required in IAS 1 TO 41 except IAS 29 (Hyperinflationary economies)
Introductory level knowledge required in IAS 29 (Hyperinflationary economies)
International Financial Reporting Interpretation Statements (IFRIC)
Standing Interpretation Committee Statements (SICS)

Expert Level means the IFRS Diploma holder should possess the knowledge, comprehension and capability to apply in the real world scenario of the accounting concepts, principles and interpretations discussed in the required pronouncements.

Introductory Level means the general knowledge and comprehension of the accounting concepts, principles and interpretations discussed in the required pronouncements would suffice.
Any changes in the above pronouncements will take effect with the lapse of six months thereinafter.

Diploma fee is:

Rs. 15,000 for two papers
Rs. 10,000 for one paper

For further information, please contact the following persons:

City	Contact Person
Karachi	Mr. Ali Jafri
Lahore	Ms. Iram Sultan
Islamabad	Ms. Asma Akram
Multan	Mr. Ahmed Raza
Faisalabad	Mr. Shahbaz Fareed
Peshawar	Mr. Iqrar Hussain

Sr.No	Registration forms	Download
1.	Registration form
2.	Pilot Paper-1
3.	Pilot Paper-2