Institute of Cost & Management Accountants of Pakistan

Education Department
ICMAP/HO/Edu/0003/2015
January 30, 2015

CIRCULAR
Memorandum of Understanding between
ICMA Pakistan and ACCA-UK
We are pleased to inform you that ICMA Pakistan and ACCA-UK signed a
Memorandum of Understanding (MOU) on December 02, 2014 for
reciprocal exemption arrangement. This MOU is an extension in the existing
exemptions arrangement to provide mutual exemptions for affiliate
(qualified)/members of both Institutions and a path of Mutual Recognition
Arrangement (MRA) to each others qualification / membership.
Now according to the MOU qualified students/members of ICMA Pakistan
are eligible for exemptions from all nine (9) courses of Fundamentals Level
irrespective of their year of qualification and waiver from first year
subscription fee who want to avail these exemptions before March 15, 2015
on first come first served basis. The only charge that applies in such cases is
the ACCA registration fee. The ACCA-UK affiliate (qualified)/members are
eligible for exemptions in thirteen (13) ICMA Pakistan courses up to
Semester-5.
The details of exemptions awarded by both institutions is attached as
Annexure-A.
All concerned may please note for compliance.
Regards,

Sheikh Mahmood-ul-Hasan, FCMA

Senior Director Education
Copy to: All ICMA Pakistan Centre In-charges
Executive Director
Director Examination
Director I.T [for webhosting]

Institute of Cost & Management Accountants of Pakistan

Education Department
ICMAP/HO/Edu/0003/2015
January 30, 2015

Annexure-A
Exemption Awarded by ICMA
Pakistan to Affiliate/Members of
ACCA-UK
Semester-1
1. Fundamentals of Financial Accounting
2. Business Economics
3. Business Communication and Report
Writing

Exemption Awarded by ACCA-UK to

Qualified Students/Members of
ICMA Pakistan
Fundamentals Level
Knowledge
1. F1 Accountant in Business
2. F2 Management Accounting
3. F3 Financial Accounting

Semester-2

Skills

4. Fundamentals of Cost & Management

Accounting
5. Business Mathematics & Statistical
Inference

4.
5.
6.
7.

Semester-3

8. F8 Audit and Assurance

9. F9 Financial Management

6. Financial Accounting
7. Enterprise Management
8. Information Systems and I.T. Audit

Semester-4
9. Management Accounting
10. Business Taxation [subject to passing F6
Taxation Pakistan variant]

Semester-5
11. Advanced Financial Accounting and
Corporate Reporting
12. Risk management and Audit
13. Strategic Financial Management

F4 Corporate and Business Law

F5 Performance Management
F6 Taxation
F7 Financial Reporting