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Examination Structure

The Association examinations comprise, fifteen papers - each of three or three and a half hours duration. The combined examinations cover a total of forty-eight examination hours - the most extended examination period for any professional accountancy body established in the United Kingdom and, as far as ascertained, overseas.

The Association is the only accountancy body in the United Kingdom examining in a special
paper entitled "Professional Practice" and the ICPAI student is required to write more examination papers relating to public practice, than students of other professional bodies of accountants.

The following is the conspectus of the examinations:-

Formation Examination

Formation 1

Paper 1 - Business Mathematics & Quantitative Methods
Paper 2 - Economics & the Business Environment
Paper 3 - Legal Framework

Formation 2

Paper 1 - Accounting Framework
Paper 2 - Taxation
Paper 3 - Information Technology for Managers
Paper 4 - Management Accounting


Professional Examination

Professional 1

Paper 1 - Financial Accounting
Paper 2 - Auditing
Paper 3 - Strategic Management Accounting
Paper 4 - Professional Practice

Professional 2

Paper 1 - Strategic Management
Paper 2 - Advanced Financial Accounting
Paper 3 - Audit Practice
Paper 4 - Financial Management


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