Exemption/Waiver Criteria & Rules

The underlying principle in respect of granting exemptions to persons holding academic and professional educational qualifications is the predetermined equivalence of the Institute’s standards with other academic and professional educational institutes/bodies in respect of examinations, courses of studies and other conditions as to professional standards etc. Based on this principle the Executive Council/Exemption Committee of the Institute has listed the exemptions/waivers available to intending candidates who wish to join the Institute’s examinations but nevertheless cases of exemption/waiver claimed falling outside the prescribed list are considered by the Executive Council/Exemption Committee of the Institute on the basis of their respective merit. On this question the decision of the Executive Council/Exemption Committee is absolute and final.

Adhering strictly to the foregoing principle, the Executive Council/Exemption Committee of the Institute has framed comprehensive rules for deciding claims for exemption/waiver from the Institute’s examinations. Accordingly eligibility for exemption/waiver will be assessed/evaluated on the basis of approved academic and professional examinations having relevant and considerable knowledge content of Accounting, Auditing, Finance, Banking, Management, Law, Taxation Laws, Corporate Laws and allied subjects. Applications for exemption and student registration must be made simultaneously in the prescribed form obtainable from the office of the Institute and must accompany the prescribed exemption and registration fees.

Students are advised that applications for exemptions must be supported by attested documentary evidence of all subjects taken in the academic and professional qualifications. The Executive Council/Exemption Committee of the Institute reserves the right to review and re-evaluate the equivalence criteria for exemption in respect of all or any academic and professional examinations which presently or in future have been accorded approval for equivalence with the Institute’s examinations. Exemptions are granted from the Institute’s examinations in subjects of other academic and professional examinations on the basis of equivalence established by The Institute of Forensic Accountants of Pakistan (IFAP).