CPA Exams - Exemptions
CPA Exams Holders of recognised qualifications (post grad, degree, diploma, certificate, accounting technician etc.) may be entitled to various exemptions from the CPA exams. All exemptions are granted on an individual basis and on a subject-for-subject basis to students. A pass mark of 50% must be achieved in the relevant subjects to be eligible for exemptions. A summary of exemptions can be found below. There are four stages of examinations within the CPA syllabus:
| Course Name | Exemptions |
|---|---|
| National Certificate in Business Studies - Accounting |
F1: All subjects |
| Bachelor in Business Studies – Accounting | F1: All subjects F2: All subjects P1: Auditing P1: Corporate Reporting |
| BA in Business Studies - Management |
F1: All subjects F2: Information Systems F2: Management Accounting |
| Awards 2005 Onwards | |
| Course Name | Exemptions |
| Higher Certificate in Business Studies - Accounting | F1: All subjects |
| BBS (Ord) in Accounting | F1: All subjects F2: All subjects P1: Auditing P1: Managerial Finance |
| BBS (Hons) in Accounting (to 2007) |
F1: All subjects F2: All subjects P1: Auditing P1: Corporate Reporting P1: Managerial Finance |
| Bachelor in Business Studies – Financial Services & Investment Analysis (Honours) |
NOTE: Professional 2 Examinations 2009
Students who have passed the Professional 1 Syllabus first examined in 2008 (Subjects (CL&G, MF, CR and AUD)
Please note that only those Students who have completed and passed examinations in the Syllabus of Examinations at Professional 1 Stage examined for the first time in 2008 will be eligible to choose their subjects at Professional 2 stage of examination from 2009 onwards.
In addition to the two mandatory subjects of Advanced Corporate Reporting, and Strategy, Leadership & Knowledge Management, they will choose two subjects from four elective subjects. Students who intend to pursue a career in practice must sit and pass the elective subjects Audit Practice & Assurance Services and Advanced Taxation in addition to the two mandatory subjects.
Students who have passed Professional 1 based on the previous syllabus (subjects: M&S, SMA, FA and AUD)
Students that have completed passed Professional 1 examinations based on the previous syllabus are required to sit and pass the following subjects at Professional 2 Stage: Advanced Taxation, Advanced Corporate Reporting, Audit Practice and Financial Management. Please note that Financial Management will not be an open book examination.
| Formation 1 | Formation 2 | Professional 1 | Professional 2 (no exemptions) |
|---|---|---|---|
| Business Mathematics & Quantitative Methods | Financial Accounting | Corporate Reporting) | Advanced Taxation |
| Economics & The Business Environment | Taxation | Auditing | Advanced Corporate Reporting |
| Business Laws | Information Systems | Managerial Finance(For Transition Students Only) | Audit Practice & Assurance Services |
| Management Accounting | Strategic Management Accounting Management & Strategy (For Transition Students Only) | Strategy Leadership | |
| Strategic Corporate Finance | |||
| Strategic Performance Management | |||
| Financial Management |
Exemptions Criteria for admission to ACCA /CPA/CIMA
Process
The ITT sends student % grades directly to the ICAI and other bodies at the end of June.
The student makes their own application for exemptions.
The student sends in their own transcripts.
The accountancy body communicates directly with the student as to whether exemptions are successfully awarded.
