Students

Institute of Forensic Accountants of Pakistan
  1. Graduates from any disciplines are eligible to register/enrol into the Forensic Accountant/Forensic Auditor (FA) Program.
  2. Candidates from any discipline with 50% or above marks and a minimum of 18 years of age are eligible to register/enrol into the Forensic Accountant/Forensic Auditor (FA) Program.
  3. Candidates in their final year Bachelor’s Degree Courses who are expecting the results within three months from the date of submitting the Application to The Institute of Forensic Accountants of Pakistan (IFAP) are also eligible to apply (such candidates will be enrolled provisionally in the Forensic Accountant/Forensic Auditor (FA) Program.
The Forensic Accountant/Forensic Auditor (FA) Program may be completed in a period of two-three years (24-36 months) after graduation.
The candidates are required to complete the Forensic Accountant/Forensic Auditor (FA) Program (all the four stages/levels) within a maximum period of seven years from the date of registration/enrolment. They are also required to complete Formation Stage/Level 1 of the Forensic Accountant/Forensic Auditor (FA) Program within three years from the date of registration/enrolment. Candidates who are unable to complete the Forensic Accountant/Forensic Auditor (FA) Program within the time-frame stipulated above, but still keen on continuing in the FA Program, are required to register de novo.
The examination for each subject is of 3 hours duration. Each subject has one paper of 3 hours each. The examinations of the Institute are held/conducted twice a year, in the last week of January and July every year.

Each Stage/Level of the Forensic Accountant/Forensic Auditor (FA) Program requires minimum period of about 6 months including the time for coaching and self-study. Coaching classes for the bi-annual sessions are held during the March-June and September-December. The faculty responsible for the conducts of classes are professionally qualified and also possess practical knowledge in the respective field. The coaching arrangements helps students acquire adequate knowledge of the subject and also prepare better for the examinations. The coaching classes are compulsory and also optional except when IFAP grants exemptions to students residing at a place where the coaching facility is not available or they have already attended classes of others professional Institutes in the corresponding subjects. There are also correspondence courses available now. The classes are conducted at IFAP’s own Supervised or Accepted Coaching Centers/campuses covering all major cities. The IFAP own center is at present working at Dubai-UAE, Islamabad, Rawalpindi, Lahore, Peshawar, Gujranwala and Quetta.

Candidates with prior academic and professional qualifications like B.Com, BBA, M.Com, MBA, CA/CWA/CS, CPA, PFA, and IBP Members are eligible to get exemptions/waivers from certain subjects in all stages/levels of Forensic Accountant/Forensic Auditor (FA) Program on case to case basis.

The Forensic Accounting  Program Syllabus

Foundation Stage (5 Papers)
FS1 Introduction to Forrensic Accounting
FS2 Concepts & Techniques of Fraud Examination
FS3 Forensic Accounting & Litigation Framework
FS4 Business Communication & Behavioral Studies
FS5 Corporate Performance Management
Certificate Stage (5 Papers)  
CS6 Investigation Process & Techniques
CS7 The Taxation & Company Laws
CS8 Evidence & The Forensic Accountant
CS9 Forensic Auditing & Assurance
CS10 Public Financial Management
Professional Stage (Group 1) (5 Papers)  
PS11 Treasury & Forex Management
PS12 Risk Management (Basics & Tools)
PS13 Independent Accounting Expert Reports
PS14 Banking & Insurance Laws
PS15 Corporate Financial Management
Professional Stage (Group 2) (6 Papers)  
PS16 Anti Money Laundering Measures & Business Ethics
PS17 Corporate & Financial Reporting
PS18 Corporate Governance & Administration
PS19 Business Valuation Management
PS20 Criminology, Legal Environment & Ethics
PS21 Advanced Auditing or Advanced Taxation or Cyber Laws or Bank/Corporate Frauds

Click here to download the syllabus

The Forensic Accountant/Forensic Auditor (FA) Program follows a unique learning approach consisting of several distinct stages:-

Self-Study

The IFAP provides comprehensive study package specially designed for independent study. The IFAAJK course materials are revised frequently to keep them up to date.

Training Classes

The Training Classes is an important stage that would help the candidates gain an in-depth understanding of the subjects and also prepare well for the examination.

Case study Approach

Case-based learning is encouraged to help the candidates acquire problem-solving and decision making skills in complex business situations.

Project Work

The project work equips the candidates with practical application skills relevant to their area of study. Candidates are encouraged to do the project work under the guidance of a Project Guide.

Examinations

The examinations serve to finally assess and carefully the candidate’s understanding of the subject and level of skill development.

  1. Candidates looking for a long term career as a Forensic Accounting and Forensic Auditing professional to work in the industry (corporate/financial services/banking/insurance sectors) or to set up independent practice/consulting.
  1. Professionals like Chartered Accountants, Cost/Management Accountants, Chartered/Corporate Secretaries and Internal Auditors who are keen on building a hard core Forensic Accounting and Forensic Auditing career or those who are interested in updating themselves in Forensic Accounting and Forensic Auditing.
  1. Com, MBAs, LLB, LLM, Bankers and Other Finance/Management Professionals who would like to specialize in Forensic Accounting and Forensic Auditing or would like to have a strong grounding in Forensic Accounting and Forensic Auditing which would help them in performing their general management functions better.
  1. Candidates interested to build a career in Forensic Accounting and Forensic Auditing.
  1. Candidates pursuing full time postgraduate programs in Forensic Accounting and Forensic Auditing.
  1. Working Executives seeking enhanced career mobility and prospects in the area of Forensic Accounting and Forensic Auditing.
  1. Banking Professionals who want to upgrade their knowledge in the fields of Forensic Accounting and Forensic Auditing.
  1. Academicians and those in the teaching profession who are keen to update their knowledge in the areas of Forensic Accounting and Forensic Auditing.
  1. All applications for registration/enrolment as student of the Institute must be made in the form prescribed which is obtainable from the Institute’s Head Office Islamabad.
  1. Every application shall be duly completed and submitted along with the prescribed student registration/enrolment fee and exemption fees and annual subscription as a student for the year in force at the date of application.
  1. If the application for registration/enrolment is accepted the registration/enrolment fees and exemption fees and the annual subscription amount will not be refunded.
  1. On acceptance an official notification will be issued to the student who will also be allotted a Student Registration Number (SRN) which must be quoted on all communication between the student and the Institute.

Every application for registration/enrolment as a student must accompany the following documents without which the application will not be entertained:-

  1. Attested/Certified photocopies of all education certificates (academic & professional) reflected by the applicant on his application.
  1. A Letter of Good Standing/Character Certificate (LGS/CC from the Head of Institution last attended or employer if employed. The Executive Council of The Institute of Forensic Accountants of Pakistan (IFAP) may also accept Letter of Good Standing/Character Certificate (LGS/CC) issued by any Associate or Fellow Member of the Institute or by a first class gazetted officer of the Government of Pakistan.
  1. Satisfactory evidence of age, name and eligibility. In this connection the applicant shall satisfy the Executive Council of the Institute that he/she:-
  • Is not less than 18 years age,
  • Possesses the requisite educational qualifications prescribed,
  • Is a fit and proper person to be registered/enrolled as a student of the Institute,
  1. Two attested passport size copies of latest photographs/pictures along with CNIC/passport copy.

The Forensic Accountant/Forensic Auditor (FA) Program is divided into four Stages/levels/21 papers: Foundation Stage/Level 1 five (5) papers, Certificate Stage Level 2 five (5) papers, Professional Stage Group I/Level 3 five (5) papers and Professional Stage Group II/Level 4 six (6) papers. After completing Foundation Stage/Level 1 five (5) papers, the candidates will be admitted into the Certificate Stage/Level 2 five (5) papers. Similarly, after completing Certificate Stage/Level 2 five (5) papers, they will be admitted into Professional Stage Group I/Level 3 five (5) papers. The candidates of the Forensic Accountant/Forensic Auditor (FA) Program will be required to study and complete the four stages/levels/21 papers in a sequential manner.

Level 1: Foundation Stage

  • Paper FS1
  • Paper FS2
  • Paper FS3
  • Paper FS4
  • Paper FS5

Level 2: Certificate Stage

  • Paper CS6
  • Paper CS7
  • Paper CS8
  • Paper CS9
  • Paper CS10

Level 3: Professional Stage Group I

  • Paper PS11
  • Paper PS12
  • Paper PS13
  • Paper PS14
  • Paper PS15

Level 3: Professional Stage Group II

  • Paper PS16
  • Paper PS17
  • Paper PS18
  • Paper PS19
  • Paper PS20
  • Paper PS21

 

  • Introduction to Forensic Accounting (Marks: 100)
  • Concepts & Techniques of Fraud Examination (Marks: 100)
  • Forensic Accounting & Litigation Framework (Marks: 100)
  • Business Communication & Behavioural Studies Marks: 100)
  • Corporate Management & Performance (Marks: 100)

 

  • Forensic Accounting Investigation (Process & Techniques) (Marks: 100)
  • Taxation & Company Laws (Marks: 100)
  • Evidence & Forensic Accountant (Marks: 100)
  • Audit & Assurance (Marks: 100)
  • Public Financial Management (Marks: 100)

 

  • Treasury & Forex Management (Marks: 100)
  • Risk Management (Basics & Tool) (Marks: 100)
  • Forensic Accountant Independent Accounting Expert Reports (Marks: 100)
  • Banking & Insurance Laws (Marks: 100)
  • Corporate Financial Management (Marks: 100)

 

  • Anti-Money Laundering Measurement & Business Ethics (Marks: 100)
  • Corporate & Financial Reporting (Marks: 100)
  • Corporate Governance & Administration (Marks: 100)
  • Business Valuation Management (Marks: 100)
  • Criminology, Legal Environment & Ethics (Marks: 100)
  • Advanced Audit & Assurance or Advanced Taxation or Cyber Laws or Banks/Corporate Fraud (Case Studies) (Marks: 100)

Class of Students

For National / Local Students – Candidates

Registration / enrollment fee

Annual subscription as student

Processing charges

For Overseas Pakistani Students – Candidates

Registration / enrollment fee

Annual subscription as student

Processing charges

For International / Foreign Students – Candidates

Registration / enrollment fee

Annual subscription as student

Processing charges

Annual Subscription 

 

Rs. 12,400

Rs. 3,600

Rs. 7,500

Rs. 15,200

Rs. 4,800

Rs. 10,000

US $ 160

US $ 50

US $ 75

All fees and annual subscriptions are payable along with the application for registration/enrolment as a student on acceptance of which no amount of such fees and annual subscription is refundable.

Click here to download the paper wise fee for Pakistani students

The powers and functions of Registration/Enrolment Committee have been largely described dealing specifically with matters pertaining to admission of students and granting of exemptions in all cases. Here as well in respect of all matters connected with the registration/enrolment of students this committee has been vested with identical powers which internalia includes acceptance or rejection of any application for registration as a student without assigning any reason, to prescribe, change and review the schedule and rates of fees and subscriptions and also to frame the rules and regulations in respect therewith. In case of rejection, however, the student is given the right to appeal to the Executive Council/Registration Committee for review of his/her application but in that case also the Executive Council/Registration Committee again reserves the right to decide the case in which event its decision shall be final and binding upon the applicant.