Papers to Attempt

Stages Eligibility Maximum number of paper permitted in one session Minimum training period to be served
PRC After registration / QAT No limit None
CAF After passing or obtaining exemption from PRC 4 papers None
CFAP After passing or obtaining exemption from CAF No limit 1 year
MSA-1 After passing the following CFAP papers:
  • Advanced Accounting and Financial Reporting
  • Corporate Laws
  • Advanced Taxation
 N/A 1 year
MSA-2 After passing the following CFAP papers:
  • Advanced Accounting and Financial Reporting
  • Corporate Laws
  • Audit, Assurance and Related Services
 N/A 1.5 year

Maximum number of Attempts

Stages Maximum permitted attempts Additional attempts
PRC 12 Months 3 Months (if 1 paper remains)
CAF Six attempts per paper Two more attempts after using all permitted attempts per paper for those who have maximum two papers left.
CFAP 10 years if 2 minimum papers are passed.
MSA Unlimited Not applicable