ICAB New Curriculum

1/15/ICAB-2010                                                                                                     28 March 2010
CIRCULAR
ICAB New Curriculum
The Council ICAB in its meeting held on 23 March 2010 decided that from May-June 2010 onward, the following Examination Structure & Conversion Criteria would be followed by the examinees of ICAB in super-session of all previous Circulars issued in this regard.
1. Examination Structure
(i)            The examinations structure shall comprise of 2-stages as follows:
Professional Stage (PS)
Advanced Stage (AS)
Professional Stage examination shall again consist of 2 progressive level of examination as follows:
1.         Knowledge level
2.         Application level
(ii)          Professional Stage (Knowledge Level) i.e. PS (K) shall consist of 07 papers with examination duration of 1½ hours each except ‘Taxation-I’ which will be of 3 hours duration, as under:
Subject Duration Marks
(1)           Assurance                                         1½ hours                         100
(2)           Accounting                                       1½ hours                          100
(3)           Business and Finance                      1½ hours                          100
(4)           Management Information                  1½ hours                          100
(5)           Taxation-I                                          03 hours                          100
(6)           Business and Commercial Law          1½ hours                         100
(7)           IT Knowledge                                    1½ hours                          100
700
(iii)         Professional Stage (Application level) i.e. PS (A) shall consist of 07 papers with examination duration of 2½ hours each as under:
Subject Duration Marks
(1)           Audit and Assurance                         2½ hours                          100
(2)           Financial Accounting                         2½ hours                          100
(3)           Business Strategy                             2½ hours                          100
(4)           Financial Management                      2½ hours                          100
(5)           Taxation-II                                         2½ hours                          100
(6)           Corporate Laws and Practices          2½ hours                          100
(7)           IT Application                                    2½ hours                          100
700
(iv)         Advanced Stage (AS) shall consist of the following 04(four) papers with examination duration of 3 hours each except Case Study which will be of 4 hours duration:
Subject Duration Marks
1. Financial and Corporate Reporting              03 hours                      100
2. Advanced Audit and Assurance                    03 hours                     100
3. Business Analysis                                         03 hours                     100
4. Case Study                                                   04 hours                     100
400
2. Pattern of Examination:
Pattern of examination for each paper will be as under:
(a)           Professional Stage (Knowledge Level)
There will be 7 (seven) separate written examinations of which 6 papers will be held and assessed in short-form (short answer) questions except Taxation-I examination which will be held and assessed in traditional system.
(b)          Professional Stage (Application Level)
There will be 7 (seven) separate written examinations in traditional system, all having 2½ hours duration.
(c)           Advanced Stage (AS) Integration: There will be 03 separate written examinations in traditional system, all having 3 hours duration,
and
01 Case Study written examination will be of 4 hours duration.

3. Recognition of Examination Results
Paper by paper pass has already been allowed in all levels from the examination of November-December 2009 and it will continue.

4. Maximum Attempts for each paper
Students will be allowed a maximum of 06 (six) continuous attempts to pass a paper under new syllabus.

5. Step by step Examination
Students will be given the option to sit for one or more or all the papers of each level at a session. No examination for the next level will be undertaken before the previous level has been completed in entirety.

6. Frequency of Examination
Examination will be held twice in a year as per existing policy of the Institute.

7. Commencement of Coaching Class on New Syllabus
The Coaching Classes for the students under new Syllabus have been going on since January 2010.

8. Commencement of examination under New Curriculum
The last Examination of PE-I syllabus was held in November-December 2009. First Examination based on new syllabus for Professional Stage-Knowledge Level will start from May-June 2010.
The last Examination under PE-II syllabus will be held in May-June 2010. The First Examination based on new syllabus for Professional Stage-Application Level will start from November-December 2010.
The last Examination under PE-III syllabus will be held in November-December 2010. The First Examination based on new syllabus for Advanced Stage will start from May-June 2011. Recent Circular Regarding PE-III (Circular : 1/1/ICAB-2012 Dated : 02 September,2012 )
Previous Circular Regarding PE-III (Circular : 1/15/ICAB-2012 Dated : 18 May,2011 )
A student will be allowed to sit for the Case Study paper after completion of all other papers of Advanced Stage (AS).

9. Paper by Paper Exemption with Conversion
The Paper by Paper exemption with some conversion courses at the time of transition to new ICAB Curriculum would be as under:
Paper-by-Paper Exemptions
Exemption chart
PE-I (paper or half paper passed)
Student takes conversion course comprising ...
... and is allowed exemption for paper
Student must take
Financial Accounting (½)
Preparing Ltd company accounts
PS (K) Accounting
Cost Accounting (½)
PS(K) Management Information
Taxation-I
PS (K) Taxation-I
Auditing (½)
PS(K) Assurance
Business Law (½)
PS (K) Business & Commercial Law
Information Technology
PS (K) IT Knowledge
PS (A) IT Application
PS (K) Business & Finance
PE II paper passed
Student takes conversion course comprising ...
... and is allowed exemption for paper
Student must take
Advanced Financial Accounting
Principal differences between IFRS and Bangladesh GAAP
PS(A) Financial Accounting
Advanced Auditing
PS(K) Assurance
PS(A) Audit & Assurance
Corporate Laws & Practices
PS(A) Corporate Laws & Practices
PS (A) Taxation-II
Management Accounting
PS(K) Management Information
PS(A) Financial Management
PS(A) Business Strategy
PS(K) Business & Finance

PE III paper passed
Student takes conversion course comprising ...
... and is allowed exemption for paper
Student must take
Financial Reporting (½)
Professional Issues (½)
Taxation-II
PS(A) Taxation-II
Financial Management
PS(K) Business & Finance
PS(A) Financial Management
Strategic Management
PS(A) Business Strategy
All AS papers

10.       The students who have passed the Intermediate Examination and will not be able to pass PE-II by May-June 2010 examination, will be required to appear at the following papers of Professional Stage Knowledge Level. After completion of the following papers, the students will have to pass all the papers of Professional Stage Application Level and thereafter the papers of Advanced Stage:
i) Assurance                                                     100 Marks
ii) Business and Finance                                  100 Marks
iii) Management Information                             100 Marks
Total:   300 Marks

11.       The Students who have passed Group “A” only of the Intermediate Examination under revised “C” Syllabus will be required to appear at the following papers of Professional Stage Knowledge Level. After completion of these papers, these students will have to pass all the papers of Professional Stage Application Level and thereafter the papers of Advanced Stage.
i) Assurance                                                     100 Marks
ii) Business and Finance                                  100 Marks
iii) Management Information                           100 Marks
iv) Taxation-I                                                   100 marks
v) IT Knowledge                                               100 Marks
Total:   500 Marks

12.       The students who have passed Group “B” only of the Intermediate Examination under revised “C” will be required to appear at the following papers of Professional Stage Knowledge Level. After completion of these papers these students will have to pass all the papers of Professional Stage Application Level and thereafter the papers of Advanced Stage:
i) Assurance                                                     100 Marks
ii) Business and Finance                                  100 Marks
iii) Management Information                             100 Marks
iv) IT Knowledge                                              100 Marks
Total:   400 Marks

13.       The students who have passed the Final Group-I Examination under “C” Syllabus or Revised “C”Syllabus will be required to appear at the following papers of Professional Stage and after completion of these papers the students will have to pass all the papers of Advanced Stage:
i) PS (K) Business and Finance                         100 Marks
ii) PS (A) Business Strategy                              100 Marks
iii) PS (A) Financial Management                      100 Marks
Total:    300 Marks

14.       The students who passed the Final Group-I Examination under “A” or “B” Syllabuswill be required to appear at the following papers of Professional Stage and after completion of these papers they will have to pass all the papers of Advanced Stage:
i) PS (K) Business and Finance                         100 Marks
ii) PS (A) Business Strategy                               100 Marks
iii) PS (A) Financial Management                       100 Marks
iv) PS(A) Taxation-II                                           100 Marks
Total:     400 Marks

15.     The students who passed the Final Group-II Examination under syllabus ‘A’ or ‘B’, but did not pass Final Group-I, will be required to appear at the following papers of Professional Stage and after completion of these papers they will have to pass all the papers of Advanced Stage:
i) PS (K) Assurance                                          100 Marks
ii) PS (K) Management Information                  100 Marks
iii) PS (A) Audit and Assurance                         100 Marks
Total:   300 Marks

16.    The students who passed the Final Group-II Examination under syllabus Old-C, having passed Intermediate Examination under syllabus ‘A’ or ‘B’, but did not pass the Final Group-I, will be required to appear at the following papers of Professional Stage and after completion of these papers they will have to pass all the papers of Advanced Stage:
i) PS (K) Management Information                   100 Marks
iii) PS (A) Taxation-II                                        100 Marks
Total:  200 Marks

17.      The students who passed both the Final Group-II Examination and Intermediate Examination under syllabus Old-C, but did not pass Final Group-I, will be required to appear at the following papers of Professional Stage and after completion of these papers they will have to pass all the papers of Advanced Stage:
i) PS (K) Assurance                                           100 Marks
ii) PS (K) Management Information                    100 Marks
iii) PS (A) Audit and Assurance                         100 Marks
iv) PS(A) Taxation-II                                           100 Marks
Total: 400 Marks

18. The students who passed the Final Group-II under syllabus ‘A’ or ‘B’ and also passed Management Accounting (being exempted from rest of the papers) of Final Group-I will be required to appear at the following papers of Professional Stage and after completion of these papers they will have to pass all the papers of Advanced Stage:
i) PS (K) Assurance                                          100 Marks
ii) PS (A) Audit and Assurance                         100 Marks
Total:   200 Marks

19.       The students who passed the Final Group-II under syllabus ‘Old-C’ having passed Intermediate Examination under syllabus ‘A’ or ‘B’ and also passed Management Accounting and Taxation-II (being exempted from rest of the papers) of Final Group-I under the syllabus Revised-C, will be required to appear at all the papers of Advanced Stage.

By Order of the Council
N I Chowdhury FCA
Secretary-ICAB
ALL MEMBERS OF THE INSTITUTE