CIPFA's International Public Financial Management (IPFM) qualification has always offered the best foundation for developing the next generation of public finance professionals and leaders
In March 2022 we are introducing a refreshed syllabus, the Professional Accountancy Qualification (PAQ). The IPFM will run alongside the new syllabus until all IPFM students have completed their studies. If you began studying the IPFM before 2022, you will find important information about this process on this page.
What does the new syllabus mean for you?
There will be minimal impact on you. You are not required to transition to the updated syllabus, nor will you be required to complete any additional modules. Your progress will not be interrupted, and you will be able to continue your current programme through to completion.
Find out more about the new syllabus
Key dates
As the IPFM syllabus is being retired, you will need to make sure that you register for all of the final IPFM module terms and exams – set out in the table below. If you do not register in time or are unsuccessful in a final module exam, you will be fully supported in transitioning to the updated PAQ syllabus. The IPFM modules you have completed will be taken into account.
We will be communicating with you every step of the way, to ensure that you are aware of the key dates and are able to register in time.
|
Module name |
Final term |
Final exam |
|
Management Accounting |
September 2021 |
March 2022 |
|
Financial Accounting |
September 2021 |
March 2022 |
|
Audit and Assurance |
February 2022 |
September 2022 |
|
Strategy and Policy Development |
February 2022 |
September 2022 |
|
Company Financial Reporting |
September 2022 |
March 2023 |
|
Financial Management |
February 2023 |
September 2023 |
|
Business and Change Management |
February 2023 |
September 2023 |
|
Governance, Public Policy and Ethics |
February 2023 |
September 2024 |
|
Public Finance |
February 2023 |
September 2024 |
|
Public Sector Financial Reporting |
September 2023 |
March 2024 |
|
Strategic Public Finance |
September 2023 |
March 2024 |
|
Strategic Case Study |
September 2023 |
March 2024 |
Mapping the IPFM and PAQ modules
In many cases, the updated PAQ modules map directly onto the current IPFM syllabus. 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 also illustrates how you would transition across to the PAQ syllabus if you didn't register in time for a final module term or exam, or failed a final module exam.
| Current IPFM Module | New PAQ Module |
| Management Accounting | Management Accounting |
| Financial Accounting | Financial Accounting |
| Audit and Assurance | Audit and Assurance |
| Financial Management | Business Planning and Financial Management |
| Company Financial Reporting | Business Reporting |
| Governance and Risk Management | |
| Strategy and Policy Development | Developing Strategy and Data Analysis |
| Public Finance | Tax and Law |
| Governance, Public Policy and Ethics | |
| Strategic Public Finance | Strategic Public Financial Management |
| Advanced Audit | |
| Business and Change Management | Implementing Business Change |
| Public Sector Financial Reporting | Public Sector Financial Reporting |
| Strategic Case Study | Strategic Case Study |
Remember to submit your PEP
To make sure you get the recognition you deserve, you must submit your Practical Experience Portfolio (PEP) after your final exams. This is a log of the practical workplace experience and evidenced skills recorded over the duration of your studies. Once you have submitted your portfolio, you will be awarded full membership to CIPFA and your Chartered Public Finance Accountant (CPFA) designation.
Find out more
For more information refer to our FAQs or contact the CIPFA Student team: studentsupport@cipfa.org