- Exemption is granted on the basis of accreditation/recognition of the professional credentials of the candidate.
- The Executive Council of ICPAP may consider the members of professional bodies or holders of university degrees for grant of exemption in any paper(s) /course(s).
- Each paper/course passed by the candidate is matched with the CPA curriculum and considered for grant of exemption subject to its full coverage of all the topics and subjects included in the study program of CPA.
- Only such paper/course is considered which has been passed in any professional examination(s) not below the level of Masters or Graduation (i.e. minimum fourteen years study level/program).
- Exemption will be considered in only the subject/paper which has been passed by securing at least 50% marks, in any examination of a reputable professional institution or university.
- Holders of professional qualification (with minimum level of graduation) in accounts, audit, finance, taxation, law, commerce, business administration, economics, banking, human resource, and other relevant subjects are usually considered for grant of exemption.
- Executive Council of ICPAP may consider the professionals in the faculties (referred to in para-6 above)for grant of exemption(s) in the field(s) of their experience/practice subject to:
- Possession of minimum three years post qualification experience or practice for grant of exemption in one subject/paper;
- Counting of specific experience/practice for exemption in only one paper/course at a time, so, double benefit of the same period will not be admissible; and
- Submission of creditable evidence/proof of the claimed experience or practice, failing which the proposal for admissibility of exemption shall stand rejected.
- Exemption on subject to subject basis or full may be allowed to the members of the credible professional accounting and auditing bodies.
- Exemption on the basis of an exemption shall not be permissible
- Exemptions granted to one student cannot be quoted as precedent, as the same are accorded after minute examination of candidate’s credentials including credibility of university or professional body awarding degree or diploma and Student’s specialization/expertise, experience, employing organization’s status and market standing as well as acceptability by the business community etc.
- Candidates seeking exemption(s) shall apply on the prescribed form along with requisite fee, supporting certificates/ evidences and mapping of claimed exemption(s) with CPA syllabus, at least two weeks earlier to submission of application for registration/admission.
- Executive Council of ICPAP may, at its discretion, decide upon the proposals for grant of exemptions on case to case basis, which shall be final and not challenge-able at any forum including the courts of law.