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Changes in ICAP Examination Policy FAQs
06-18-2010, 10:50 PM
Post: #1
Changes in ICAP Examination Policy FAQs
Frequently Asked Question

Changes in ICAP Examination Policy FAQs

Can I apply and deposit examination fee for one or any number of papers I wish to appear in or I am supposed to apply and pay for full module?
Ans You can appear in any number of papers for the same module however your attempt will be counted for that module irrespective of the number of papers you pay your examination fee for.

Will my attempt be counted if I appear only in one paper of Module A, B, C or D?
Ans Yes, your attempt will be counted.

Q3 I have already appeared in Module A examination three times till Spring 2010 examinations. How many attempts are now left for me to pass Module A?
Ans You have six attempts to qualify Module A examinations, which will be counted from Autumn 2010 examinations. As per policy, the examinations attempted by all students before Autumn 2010 will have no effect on their limit of six attempts for each module from A to D.

Q4 I am a student of Module D. What if I am not able to pass Module D in six attempts? Am I required to redo from Module A or will I be given credit for Foundation?
Ans As per present policy, you will not be allowed to pursue chartered accountancy in any manner.

Q5 With the introduction of policy of permanent credit in papers irrespective of marks in other papers, one may apply and deposit examination fee for any number of papers. Does it mean that he/she can select any paper out of total 12 papers of Module A to D or there is any restriction to it?
Ans The progression rules to attempt modules have not been changed and one can attempt one or any two consecutive modules up to D module.

Q6 With the introduction of new policy when will be the eligibility for the first attempt of module A?
Ans If you hold the (CRN) Common Registration Number for 6 months (before or on the last date of submission of examination form for the upcoming session) you will be deemed eligible to sit in that exam. Your attempt will be counted even if you do not submit your examination form for that sitting.

Q7 When will be the eligibility for the first attempt of a student of Module B-D?
Ans As soon as you pass the full module you are automatically eligible for the next one and your attempt will start to count, or if you have not cleared all the papers of the existing module and have paid the examination fee for the next module then your attempt will be counted for both the modules.

Handbook of International Standards on Auditing, Assurance and Ethics Pronouncements 2008 Edition

The latest (2008) edition of International Standards of auditing hand book has two parts (volumes) where as part II includes the revised and redrafted standards. Kindly let me know whether revised code of ethics for chartered accountants and part II standards are applicable for the upcoming final exam.
Ans Yes, it has already been made applicable.

What about the applicability date of code of ethics and revised and redrafted standards which are in the syllabus of intermediate auditing paper.
Ans They have already become applicable and examined from March 2009 intermediate attempt.

Q3 What about applicability of revised and redrafted standards which are effective for audits of financial statements for periods beginning on or after December 15, 2009.
Ans Those will remain applicable for examination purposes irrespective o f their date of effectiveness.

Open book Examinations of Business Finance Decision

Kindly let me know whether open book examination of BFD is limited to recommended books only or one can bring any book on the topic in the examination hall. Also please tell me whether solved past paper books are considered as allowed books for the examination or not.
You can bring any book of your choice including books on past papers.

With reference to the open book examination of BFD, please clarify whether two volumes of any book will be considered one book or two books?
Two volumes will be considered as two separate books.

Can I bring my tutor’s notes which are printed and in book shape?
Yes, you may bring such notes provided they are bound and typed.

Recently ICAP has introduced the scheme of open book examination in the paper of BFD. Also please tell me if by any three books of one’s choice, you mean that there is no restriction of publisher, writer, or country in which the book is published.
Your understanding is correct.

Will revision kit published by BPP or any other professional body be allowed in the BFD open book examination?
Yes, you are allowed to bring revision kit in the BFD examination.

Please clarify whether students are allowed to bring hand-written notes in book form in BFD examination.
Students are not allowed to bring any hand-written notes. However, they can bring the typed notes in book form.

What does bound volume mean - spiral or stitched?
It Includes spiral, ring and stitched.

Can I bring photocopied, handwritten and printed papers in one bound volume?
It is allowed as far as these are typed and in bound volume.

Is scribbling allowed on books?
It is not allowed.
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