Global Chartered Accountants -GCA

Summary of New ICAP Strategy

4 levels announced by ICAP. -1st two levels are computer based. -3rd one is paper based. -Last level is multi subject based.

1st:Assesment of fundamental competences (AFC)

-Functional Englidh -Business Communication -Quantitative Methods -Information Technology

2nd:Certificate in accountancy and finance (CAF)

-Intro to accounting -Intro to economics and finance -Business Law -Business c=management and behavioural studies -Financial accounting and reporting 1 --Financial accounting and reporting 2 -Principals of taxation

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Global Chartered Accountants -GCA

-Cost and management accounting -Auditing and assurance

3rd: Certified finance and accounting professional (CFAP)

-Advanced accounting and financial reporting -Corporate laws -Business management and strategy -Business finance decisions -Advanced taxation -Audit assurance and related services

4th:Multi-subject assesment (MSA)

-Financial reporting professional competence -Audit professional competence

For current students: Exsiting student will take exemptions of relevant paper and start new scheme except for finalist.In case of final,those having training started before 1st july 2005 will continue Mod E and F till winter 2018.Others will start new scheme. Attempts: For 1st level,3 attempts per paper. For last level,unlimited attempts. For other 2 levels,maximum 8 attempts. www.gcanetwork. Fb.com/gcaofficial

Global Chartered Accountants -GCA

Exemptions: Max 8 for ACCA Max 7 for CIMA Max 12 for ICMAP Max 7 for PIPFA

Almost same criteria for F.sc/A-level etc student.1st level will be exempted on meeting criteria. For institutes likes lums and IBS,1st 2 levels exempt provided they meet criteria. For 4 year graduates,1st level and 4 papers of 2nd level on meeting criteria.

Implementation from Autumn 2014 for students who are currently in upto module D. For student of final,policy is as follows: Students who are registered as a trainee student before July 2015 will attempt Module E/F till Winter 2018 and will become CA. If they have not cleared it till 2018 then there are two ways. First if you have cleared less than 6 papers of Module E/F then you will get equivalence of passed paper of Module E/F from CFAP and will have to pass remaining paper plus MSA exam to qualify. Second is if you have passed 6 or more papers then you will be given a chance to attempt Module E/F to qualify till Winter 2019 and if you are not able to pass yet, then you will have to get equivalence of passed paper of Module E/F from CFAP and will have to pass remaining paper plus MSA exam to qualify.

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