4.

ENTRANCE TEST AND ITS SYLLABUS

(1) Entrance test shall be called Assessment of Fundamental Competencies and shall
comprise of the following subjects:
AFC-1 Functional English
AFC-2 Business Communication
AFC-3 Quantitative Techniques
AFC-4 Introduction to Information Technology
(2) The contents and learning outcomes of each subject are attached as Annexure A.

5. CURRICULUM AND SYLLABUS
(1) Any person seeking membership of the Institute under sub-section (1)(ii) of section 4 of
the Ordinance shall be required to pass all the subjects forming part of the curriculum or
obtain exemption therefrom.
(2) Curriculum
The examinations of the Institute shall consist of the following stages and subjects:
(i) Certificate in Accounting and Finance (CAF)
CAF-1 Introduction to Accounting
CAF-2 Introduction to Economics and Finance
CAF-3 Business Law
CAF-4 Business Management & Behavioural Studies
CAF-5 Financial Accounting and Reporting I
CAF-6 Principles of Taxation
CAF-7 Financial Accounting and Reporting II
CAF-8 Cost and Management Accounting
CAF-9 Audit and Assurance
(ii) Certified Finance and Accounting Professional (CFAP)
CFAP-1 Advanced Accounting and Financial Reporting
CFAP -2 Corporate Laws
CFAP -3 Business Management and Strategy
CFAP -4 Business Finance Decisions
CFAP -5 Advanced Taxation
CFAP -6 Audit, Assurance and Related Services
(iii) Multi Subject Assessment (MSA)
MSA-1 Financial Reporting Professional Competence
MSA-2 Audit Professional Competence



Levels SDAI 16 Year Graduates 14 Year Graduates HSSC A-levels


AFC &
Stage
AFC Exempted and
Exemption(s) will be
obtained From CAF IF:


75% marks or
Equivalent Grades.




Subject matches at least
70% with that of the
prescribed syllabus.

Exemption(s) will be
obtained from AFC & CAF-1,
CAF-2, CAF-3 & CAF-4 IF:

Minimum 70% Marks or
equivalent grades in
aggregate

Minimum 75% or
Equivalent grades in
relevant subject in which
candidate is seeking
exemption

Subject matches at least
70% with that of the
prescribed syllabus.

Exemption(s) will be
obtained from AFC if

60% or above marks in
aggregate

75% marks or equivalent
grades in relevant
subject(s) from which
the candidate is seeking
exemption.

Subject matches at least
70% with that of the
prescribed syllabus.

Exemption(s) will be
obtained from AFC if

70% or above marks in
aggregate

75% marks or equivalent
grades in relevant
subject(s) from which the
candidate is seeking
exemption.

Subject matches at least
70% with that of the
prescribed syllabus.

Exemption(s) will be
obtained from AFC if

Two Bs in A-level

Minimum B Grade in
relevant subject(s) from
which the candidate is
seeking exemption.


Subject matches at least
70% with that of the
prescribed syllabus.