Certified Islamic Professional Accountant (CIPA)

About Certified Islamic Professional Accountant (CIPA)


CIPA is a fellowship programme in Islamic finance accountancy offered by AAOIFI. It equips candidates with technical knowledge and professional skills in accountancy, audit, risk management, governance, law, and taxation for Islamic financial institutions.

Category	Details
Why Become a CIPA Fellow?	– Join a community of AAOIFI-certified professionals worldwide. – Gain expertise in Islamic finance accountancy, audit, and governance. – Enhance career opportunities in Islamic financial institutions.
Powerful Learning Content	– Based on AAOIFI standards developed by industry founders and practitioners. – Covers accounting, Shari’ah, audit, law, taxation, risk management, capital adequacy, and governance. – Includes a Practical Experience Requirement (PER) for hands-on learning in Islamic finance accountancy.
Excellent Career Opportunities	– Growing demand for professionals who understand and apply AAOIFI standards. – Backed by AAOIFI, a globally recognised Islamic finance standard-setting body. – Recognised by regulators, Islamic financial institutions, and professional organisations worldwide.
Career Opportunities	– High demand for AAOIFI expertise. – Globally recognised benchmark qualification.
Language	Arabic, English, and Russian.
Eligibility	Bachelor’s degree or professional qualification in accountancy.
2025 Exam Deadlines	– June Exam: Register by 22 May 2025. – December Exam: Register by 30 Oct 2025.

Curriculum

Exemption

Examinations

CIPA Fellowship

Fee and Discount

Curriculum

Curriculum
CIPA consists of four modules and a one-year practical experience requirement (PER).

Module	Details
Module 1	Financial Accounting and Reporting (FAR)
Module 2	Audit, Assurance, and Ethics (AAE)
Module 3	Business and Regulatory Environment (BRE)
Module 4	Shari’ah Standards and Shari’ah Governance (SSSG)

Practical Experience Requirement (PER)

Duration	1 Year
Place of PER	Any pre-approved institution
Supervisor	Any pre-approved Islamic finance professional
Deliverable	Submission of periodic and final reports to AAOIFI
Requirement	Fulfillment of accountancy-related work performed for IFIs
Exemption	Case-by-case basis. Alternative to PER: Candidates may submit two 5,000-7,000 word research papers on a pre-approved topic in Islamic finance accountancy.

Exemption

Module exemptions are generally offered as follows:

Module	Exemption Criteria
FAR	CPFAS certificate
AAE	ACCA members who have passed P7 exam, CA, or any other related professional qualification
BRE	Any professional qualification of a body recognized by IFAC
SSSG	CSAA, CSE, or CSA fellowship qualifications by a body recognized by IFAC

PER Exemption

Partial (6-months exemption)	Full exemption
3 years of experience in accountancy in an Islamic financial institution (IFI)	More than 3 years of experience in accountancy in an IFI
5 years of experience in accountancy in a financial institution (FI)	More than 5 years of experience in accountancy in a FI, including 3 months of experience in accountancy in an IFI
Membership in a professional body that is an IFAC member with at least 1 year of experience in accountancy in a FI	Membership in a professional body that is an IFAC member with at least 6 months of experience in accountancy in an IFI

Examinations

Examination

The 2025 examination schedule is as follows:

Module	Diet 1	Diet 2	Duration (hrs)	Format
FAR	23 June 2025	1 Dec 2025	3	Multiple Choice Questions (MCQs) & scenario vignettes
AAE	24 June 2025	2 Dec 2025	1.5	Multiple Choice Questions (MCQs) & scenario vignettes
BRE	24 June 2025	2 Dec 2025	1.5	Multiple Choice Questions (MCQs) & scenario vignettes
SSSG	25 June 2025	3 Dec 2025	2	Multiple Choice Questions (MCQs) & scenario vignettes

CIPA Fellowship

To become a fellow of the CIPA, the candidate must:

1	Pass all four modules (or qualify for module exemption(s))
2	Earn a passing grade in PER
3	Meet the eligibility criteria
4	Pay any applicable dues

*For latest information, visit
www.aaoifi.com

Fee and Discount

Fees & Discounts	Details
Program Fees	USD 2,200 (includes registration, four study texts, four mock exams, four exam sittings, PER fee, and CIPA certificate fee with postal expenses).
I-MAC Discount	USD 770 Register with I-MAC Or contact: info@i-mac.org
Discounted Fee	Discounted fee does not include certificate postal charges

First Time Applicants: Apply Here

Applying For Remaining Modules: Apply Here

Re-appearing Applicant Apply here

First Time Applicants: Apply Here

Applying For Remaining Modules: Apply Here

Re-appearing Applicant Apply here