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Open Book Examination

Open Book Examination

Examinees shall be permitted to carry/access books in certain examinations as specified below:

Paper Permitted Book
CFAP-1 Advanced Corporate Reporting Handbook of International Financial Reporting Standards and ICAP Code of Ethics for Chartered Accountants (Revised 2024).
CFAP-2 Corporate Laws and Governance
  • Anti-Money Laundering Act, 2010
  • Anti-Money Laundering and Countering Financing of Terrorism Regulations, 2020 issued by the Securities and Exchange Commission of Pakistan
  • Companies (Distribution of Dividends) Regulations, 2017
  • Companies (Further Issue of Shares) Regulations, 2020
  • Companies Regulations, 2024
  • Companies (Investment in Associated Companies or Associated Undertakings) Regulations, 2017
  • Companies (Postal Ballot) Regulations, 2018
  • Companies (Related Party Transactions & Maintenance of Related Records) Regulations, 2018
  • Companies (Manner and Selection of Independent Directors) Regulations, 2018
  • Companies Act, 2017
  • Companies Ordinance, 1984
  • Competition Act, 2010
  • Corporate Restructuring Companies Act, 2016
  • Corporate Restructuring Companies Rules, 2019
  • Employees Contributory Fund (Investment in Listed Securities) Regulations, 2018
  • Foreign Exchange Manual of State Bank of Pakistan
  • Islamabad Capital Territory Trust Act, 2020
  • ICAP Code of Ethics for Chartered Accountants (as prescribed from time to time with current version being Revised 2024)
  • Insurance Ordinance, 2000
  • Listed Companies (Buy-Back of Shares) Regulations, 2019
  • Listed Companies (Code of Corporate Governance) Regulations, 2019
  • Listed Companies (Substantial Acquisition of voting shares and Takeovers) Regulations, 2017
  • NBFC (Establishment and Regulation) Rules 2003
  • Pakistan Stock Exchange Rule Book
  • Payment System and Electronic Fund Transfer Act, 2007
  • Private Placement of Securities Rules, 2017
  • Public Offering Regulations, 2017
  • Public Sector Companies (Corporate Governance) Rules, 2013
  • Securities Act, 2015
  • State Owned Enterprises (Governance and Operations) Act, 2023
  • The Banking Companies Ordinance, 1962
  • The Non-Banking Finance Companies and Notified Entities Regulations, 2008
**Note: Hard copies of the books will not be permitted in the examination hall. Link to digital versions of the Bare Acts will be provided in the examination software.
CFAP-3 Sustainability Reporting and Assurance

Digital access to the links of the following standards will be granted during the examination:

  • IFRS S1 – General Requirements for Disclosure of Sustainability-related Financial Information
  • IFRS S2 – Climate-related Disclosures
  • International Standard on Sustainability Assurance (ISSA) 5000 – General Requirements for Sustainability Assurance Engagements
  • The examinable Sustainability Accounting Standards Board (SASB) Standards
  • International Ethics Standards for Sustainability Assurance
CFAP-4 Strategic Business Finance Formula sheets will be provided by the Institute.
CFAP-5 Tax Practices and Planning
  • Income Tax Ordinance, 2001 and related rules
  • Sales Tax Act, 1990 and related rules
  • The Provincial Sales Tax Acts
  • The Islamabad Capital Territory (Tax on Services) Ordinance, 2001
  • Federal Excise Act, 2005 and related rules
  • ICAP Code of Ethics for Chartered Accountants (as prescribed from time to time with the current version being the Revised 2024 edition)
**Note: Hard copies of the books will not be permitted in the examination hall. Link to digital versions of the Bare Acts will be provided in the examination software.
CFAP-6 Audit, Assurance and Data Handbook of International Auditing and Assurance Pronouncements and ICAP Code of Ethics for Chartered Accountants (as prescribed from time to time with the current version being the Revised 2024 edition).
Strategic Case Study Pre – Seen material, any written or printed notes, printed annotated documents, and any three books, subject to space limitations in the exam hall.
(ii) Only original books duly bound shall be permitted, where applicable.
(iii) Examinees shall be permitted to highlight or underline the text in the permitted books.
(iv) Any decision taken by the Institute regarding permission to carry a book in the examinations shall be final.