In order to become a CIPA Fellow, the CIPA Candidate must successfully complete the following two requirements:
Pass all the four CIPA modules exams;
Fulfill the Practical Experience Requirement (PER); and
Pay annually the CIPA Fellowship Fee
Exemptions are available for qualified and/or experienced CIPA Candidates.
The CIPA Curriculum
CIPA Candidates are required to study and pass the following four modules:
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Download: CIPA Syllabus, [FAR], [AAE], [BRE], [SS&SG]
The CIPA Exams
Total No. of Exams | 4 |
Passing Percentage | 70% for each module |
Exam Composition | MCQs covering theoretical and scenario-based questions |
Max. No. of Attempts | There is no limitation on the number of attempts |
Type of Exam | Physical (Online Exams will be launched shortly) |
Exam Duration for | FAR | AAE | BRE | SS&SG |
3 hours | 1.5 hours | 1.5 hours | 2 hours | |
Total Exam Questions | ~100 | ~65 | ~65 | ~85 |
For exemption(s) from Module(s) Exam(s), please refer to Exemptions section
Practical Experience Requirement (PER)
What is PER? | Internship Program for 1 year at an approved organization under an External Supervisor |
Objective of PER | To give candidate a hands-on real-world understanding and enhance their skillset in accounting for IFIs |
Eligibility Criteria | All registered CIPA Candidates may start their PER after registration |
Exemptions | Available; criteria defined earlier |
Deliverable | Final Report |
Passing Criteria | Earn a ‘Pass’ on your Final Report |
Alternative to PER | To be decided on case-to-case basis; Candidate may be required to write 3 short Research Papers on Islamic Accountancy of words between 5000 and 7000. |