What does the updated syllabus mean for current students?
We're taking all possible steps to ensure that your studies continue smoothly.
The pre-2022 Professional Qualification (PQ) and International Public Financial Management (IPFM) programmes will be phased out as the updated PAQ syllabus is introduced. You will continue to receive our full support throughout your qualification journey.
Key Dates
Information about the transition can be found on the pre-2022 PQ and IPFM pages. Students who do not register in time or who are unsuccessful in a final module exam will be fully supported in transitioning to the updated PAQ syllabus.
We will be communicating with you every step of the way, to ensure that you are aware of the dates and are able to register in time.
New platforms and initiatives
Students will gain access to the platforms and content including:
- virtual learning environment
- e-assessment platform
- optional CPD training courses covering sustainability, ethics and data content introduced in the updated PAQ
You will also continue to have access to:
- trained mental health first aiders and CIPFA's Mental Health and Wellbeing Hub, which offers immediate and direct support
- CPD Bites, a weekly email containing a bite-sized 15-minute CPD session to encourage ongoing development
Mapping the new modules
In many cases, the updated PAQ modules map directly onto the pre-2022 PQ and IPFM modules. Where a new module has been mapped this indicates that the new module covers at least 80% of the pre-2022 module's content. The below table illustrates how a student would transition across to the PAQ syllabus if they don't register in time for a final exam, or they are unsuccessful in a final module exam.
| Current PQ module | Current IPFM module | New PAQ Module |
| Management Accounting | Management Accounting | Management Accounting |
| Financial Accounting | Financial Accounting | Financial Accounting |
| Audit and Assurance | Audit and Assurance | Audit and Assurance |
| Financial Management | Financial Management | Business Planning and Financial Management |
| Company Financial Reporting | Company Financial Reporting | Business Reporting |
| Governance and Risk Management | ||
| Strategy and Policy Development | Strategy and Policy Development | Developing Strategy and Data Analysis |
| Taxation | Public Finance | Tax and Law |
| Corporate Governance and Law | Governance, Public Policy and Ethics | |
| Strategic Public Finance | Strategic Public Finance | Strategic Public Financial Management |
| Advanced Public Audit | Advanced Audit | |
| Business and Change Management | Business and Change Management | Implementing Business Change |
| Public Sector Financial Reporting | Public Sector Financial Reporting | Public Sector Financial Reporting |
| Strategic Case Study | Strategic Case Study | Strategic Case Study |
Governance and Risk Management is a new module that has been introduced to reflect the importance of these areas and to bring together content that was previously spread across several modules in the PQ and the IPFM.
*If you do not hold a pass/exemption in BOTH Corporate Governance and Law and Taxation after the final exam sitting which is March 2024, then you will have to sit Tax & Law (UK) under the PAQ qualification route. Please contact paqexemptions@cipfa.org.
*If you do not hold a pass/exemption in BOTH Public Finance and Governance, Public Policy & Ethics after the final exam sitting which was September 2023, then you will have to sit Tax & Law (International) under the PAQ qualification route. Please contact paqexemptions@cipfa.org.
**If you have previously attempted or have booked and deferred the Strategic Case Study and not passed this paper after the final exam sitting - September 2024, by way of a concession, you will be permitted two further attempts in December 2024 and March 2025. After this date, you will have to sit and pass Governance & Risk Management before sitting the Strategic Case Study exam.
Contact Us
If you have any questions about the introduction of the new syllabus, please contact us at paqexemptions@cipfa.org.