CIPA certificate is issued by from Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) which is an international autonomous non-profit organization responsible for developing accounting, auditing, ethics, governance, and Shari’a standards.
What is CIPA?
“CIPA” stands for Certified Islamic Professional Accountant and it is one of the two flagship qualifications which is offered by the AAOIFI. It was launched in 2006 and relaunched in 2017 after a three-year-long overhauling process.
CIPA is the only internationally recognized qualification in accounting for Islamic financial institutions, catering to all banking, investments, and Takaful segments.
The CIPA program is intended towards the development of, and enhancing of, industry’s human resource capabilities by developing experts for Islamic finance accounting and financial reporting, audits, and Shari’ah audits.
Objectives of CIPA
The CIPA qualification aims at achieving the following objectives:
Who is CIPA for?
CIPA is for professionals, executives, as well as for students who are currently involved, are studying for, or have interest, in accounting, auditing, and finance, especially for the Islamic banking and finance industry, such as:
Undergraduate or graduate students aspiring for an accounting career in Islamic banks
Three Reasons for Getting the CIPA Qualification:
After successfully passing all CIPA module exams and fulfilling practical experience requirement (PER), you will become a CIPA Fellow. You stand to gain the following benefits by joining the 1000+ strong group of CIPA Fellows worldwide:
Finding more career opportunities for both personal and professional growth – There is a huge and ever-growing demand for experts of AAOIFI Shari’ah, accounting, auditing, governance, and ethics standards. CIPA Fellows are recognized for their knowledge and expertise and are always preferred over non-CIPA candidates
The CIPA Curriculum
CIPA Candidates are required to study and pass the following four modules:
Shari’ah Standards & Shari’ah Governance (SS&SG)