The Certified Islamic Accountant (CIPA) Program
The CIPA program is designed to help senior managers, managers, and accountants to create value for their respective organization, based on the principles of Islamic accounting and finance. While managing value is not an easy task, the program creates understanding of important features, fundamentals and applications of Islamic accounting and finance. Throughout the program, participants will enjoy an interactive outcome-based learning where the facilitators will be discussing concepts and their applications in real life business, based on their collective corporate experiences. The facilitators will make the finance and accounting course content interesting through interactive lecture presentations, case studies and discussion. Participants will value how Islamic finance and accounting will help them to manage the bottom-line and create better value for shareholders.
At the end of the program, participants will achieve the following objectives:
- Demonstrating the role of Islamic accounting and finance in decision making.
- Applying Islamic accounting and finance principles in corporate reporting.
- Planning company’s operating, financing, and investing needs based on available instruments and financial markets offerings in Islamic finance.
- Constructing portfolio of Islamic wealth management, corporate zakat, waqf and tax
- Enhancing corporate performance beyond profitability.
- Seminar 1: Islamic Finance: Islamic Banking, Capital Market and Insurance (20 Hours)
- Seminar 2: Islamic Accounting (8 Hours)
- Seminar 3: Shariah Governance and Assurance Services (8 Hours)
- Seminar 4: Corporate Financial Strategy for Islamic Financial Leaders (4 Hours)
The Certified Islamic Public Accountant (CIPA) Qualification will be awarded upon completion of:
- Satisfactory attendance in all Seminars (at least 32 hours of the required 40 hours)
- Participation in Case Study Discussion and Analysis in all 4 Seminars of the CIPA syllabus
- Successful completion of an Exam and/or a Project-based Assignment as follows:
Length: 3,000 words, excluding bibliography, notes, and attachments.
Assessment: A pass mark of 50% or above is required to satisfy the educational requirements for CIPA certification.
Due Date: Maximum Three Months from date of completion of program attended.
After completion of the above classes for CIPA Certification they need to sit for an Assessment & Pay the followings fees to the Institute:
- Assignment or Written Exam Fee: AU$ 110
- Joining Fee/Registration Fee – Onetime payment AU$ 198
- Membership Fee for 3 Years (i.e., Renewable after every 3 years) AU$ 150
- Membership of Management Accounting Affiliate (MAA) – FREE
The Certified Islamic Accountant (CIA) Program (run by AFMA) in BANGLADESH only, is fully accredited by ICMA as meeting all of the education (attendance) requirements of the Institute’s Certified Islamic Public Accountant (CIPA) program. Participants would also need to successfully complete the required assessments (conducted by ICMA Australia & NZ) to be given the dual CIA(AFMA) and CIPA(Australia) designations.
The delivery of the CIA (AFMA) program will be based on experiential and interactive learning. Lectures based on topic, case study, simulation and group discussion will be delivered.
The CIA(AFMA) program conducted in Bangladesh under guidance of the Regional Director Mr. Sazzad Hassan (e-mail: firstname.lastname@example.org)
The completion of the CIA (AFMA) program will enable an individual to obtain the CIPA (Australia) professional qualification. Students will therefore have dual qualifications.
STEP 1: Undertake the CIA Academy of Finance and Management Australia module
STEP 2: Sit for a written exam for AU$110
STEP 3: Join ICMA by paying a Joining fee/Registration of AU$198 (once-off).
- STEP 4: The fee for the CIPA certification is AU$ 150 for three years of use of the post-nominals CIPA (Australia & NZ)
Topic 2: Islamic Accounting: Applications
- Sales-Based Contracts
- Equity-Based Contracts
- Rental Based Contracts