The question papers are set in accordance with the prevailing laws and regulations, the relevant details for testing the changes are available as under.
The question papers of all accounting subjects are set in accordance with International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) as well as the Accounting and Auditing Practices and Guidelines, issued by the professional bodies of Pakistan.
Examination questions of any specific level may be set from the available syllabus contents.
Inclusion of Recent Updates/ Amendments of Rates, Rules, Laws and Regulations for taking ICMA Examinations:
In pursuance to the conduct of ICMA Examinations in each alternate month, the competent authority has decided to include recent updates/ amendments of rates, laws and regulations [issued by the Regulatory Authorities of Pakistan time to time] as per the below given period of applicability for taking the Institute’s examinations w.e.f. December 2020 Examinations.
| Sr. No |
Examination Attempts |
Period of Applicability |
|
1.
|
February
|
Any update/ amendment applicable upto August of the previous calendar year may be tested.
|
|
2.
|
April
|
Any update/ amendment applicable upto October of the previous calendar year may be tested.
|
|
3.
|
June
|
Any update/ amendment applicable upto December of the previous calendar year may be tested.
|
|
4.
|
August
|
Any update/ amendment applicable upto February of the same calendar year may be tested.
|
|
5.
|
October
|
Any update/ amendment applicable upto April of the same calendar year may be tested.
|
|
6.
|
December
|
Any update/ amendment applicable upto June of the same calendar year may be tested.
|
|
Note : Any Update/amendment issued for a shorter period [e.g for 120 days] will not be included in the examinations.
|
This is important for the students to acquire amount of knowledge of relevant Laws/ Rules and Regulations, pertaining to Business Taxation and others similar courses for their study and examinations preparation.
The Director Education may circulate the same to the students (coaching and DLP) as well as to the faculty for their information and to guide the students.