ICAG Exemptions 2026: The Complete Guide — Every Qualification, Every Paper, Every Fee
Exemptions save papers and time, but not always money. A Master’s degree holder claiming 9 exemptions pays GHS 8,539 before writing a single exam. This guide shows exactly what each exemption costs, who qualifies, and whether it is worth taking for your profile.
This guide covers every ICAG exemption available in 2026: who qualifies for what, exactly which papers are credited, the full fee schedule for both standard students and members of other professional accounting organisations (PAOs), and the honest financial calculation of whether each exemption is worth taking. All fees and rules are sourced directly from ICAG Ghana’s official student portal, published procedures, and MSL Business School’s verified 2026 rates.
Last reviewed and updated , against ICAG’s official exemption policy, the 2026 fee schedule, and the published PAO registration procedure.
- What they do
- Credit specific Professional Qualifying Examination papers based on a recognised prior qualification, so the candidate does not sit them
- Standard fees 2026
- GHS 711 per Level 1 paper, GHS 1,139 per Level 2 paper, paid directly to ICAG
- Maximum exemptions
- All 4 Level 1 papers plus up to 5 Level 2 papers (Paper 2.5 PSAF can never be exempted)
- Level 3
- No exemptions for standard students. PAO members may exempt 3.1, 3.4 and 3.2 (if an equivalent advanced audit was passed)
- Always written
- Paper 2.5 by everyone, and all 4 Level 3 papers by standard students
- How to apply
- Online via the ICAG student portal at sms.icagh.org. The fee must be paid before the paper is credited
- Pass mark
- 50% on every paper still written. Exemptions do not waive this standard
- PAO pathway
- A separate route with lower fees for full members of ACCA, CIMA, ICAN, SAICA and other IFAC bodies
Not sure which papers you can skip? Check your exemptions instantly with our free calculator.
Use the Exemptions CalculatorWhat are ICAG exemptions?
One of the first questions every prospective ICAG student asks is whether they qualify for any exemptions. The answer depends entirely on your specific qualification background, and the implications are significant. Exemptions can reduce the number of papers you need to write from 14 to as few as 5. They can shorten your qualification timeline by years. But they also carry fees that are substantial in their own right, and in some cases the cost of taking an exemption exceeds the cost of simply writing the paper.
ICAG exemptions allow candidates with relevant prior qualifications to bypass specific papers in the Professional Qualifying Examination. Rather than sitting the examination for an exempted paper, the candidate applies to ICAG Ghana for the exemption, pays the applicable fee, and the paper is credited to their record.
Exemptions are not automatic. They must be applied for through the ICAG student portal at sms.icagh.org, supporting documentation must be uploaded, and the exemption fee must be paid before ICAG will formally credit the paper. Until the fee is paid and the exemption is approved, the paper remains outstanding.
Three things exemptions do not do
| Limitation | What this means |
|---|---|
| They do not remove Level 3 papers | No qualification exempts any Level 3 paper for standard ICAG students. All four Level 3 papers (Corporate Reporting, Advanced Audit & Assurance, Advanced Taxation, and Strategic Case Study) must be written by every standard candidate regardless of prior qualifications. |
| They do not reduce the pass mark | Papers that are not exempted must still be passed at 50%. There is no credit for near misses. |
| They do not carry over between sittings | An exemption applied for but not yet approved cannot be used in a sitting until ICAG formally credits it. Exemption fees must be paid before ICAG credits the paper. |
Who qualifies for ICAG exemptions in Ghana?
The table below maps every recognised qualification to its specific ICAG exemptions. This is the definitive reference, drawn from ICAG’s official exemption policy for the 2024 to 2029 syllabus.
| Prior qualification | Level 1 papers exempted | Level 2 papers exempted | Level 3 |
|---|---|---|---|
| WASSCE / SSSCE | None, all 4 must be written | None, all 6 must be written | None, all 4 must be written |
| Diploma in Accounting / HND Accountancy | All 4 Level 1 papers | HND holders also exempt Paper 2.3 Audit & Assurance. Diploma holders: none automatically. | None |
| ATSWA | All 4 Level 1 papers | Paper 2.3 Audit & Assurance and Paper 2.6 Principles of Taxation | None |
| Bachelor’s Degree (Accounting) | All 4 Level 1 papers | Paper 2.3 Audit & Assurance and Paper 2.6 Principles of Taxation | None |
| MOU University, Level 300 Accounting | All 4 Level 1 papers | Paper 2.3 and Paper 2.6 (same as Bachelor’s Degree) | None |
| MOU University, Level 300 Finance | All 4 Level 1 papers | Paper 2.3 and/or 2.6 exempt only if those specific subjects were studied | None |
| Master’s Degree (Accounting) | All 4 Level 1 papers | All Level 2 papers except Paper 2.5 Public Sector Accounting & Finance | None, all 4 must be written |
| Other degrees / professional qualifications | Case by case on academic transcript | Case by case on academic transcript, no automatic exemptions | None |
| ACCA / CIMA / ICAN / SAICA (PAO members) | All 4 Level 1 papers | All Level 2 papers except 2.5 PSAF | 3.1 and 3.4 only (see PAO section) |
WASSCE and SSSCE holders
Candidates entering ICAG with WASSCE or SSSCE qualifications alone are not entitled to any paper exemptions. They must write all 14 papers across Levels 1, 2 and 3. The good news is that Level 1 is a multiple choice format, and candidates without prior accounting study can clear it in one to two sittings with structured tuition. Many ICAG students start here.
Diploma in Accounting and HND Accountancy holders
Diploma in Accounting holders are exempt from all 4 Level 1 papers, a total exemption fee of GHS 2,844. HND Accountancy holders receive the same Level 1 exemptions plus Paper 2.3 Audit and Assurance at Level 2, a total exemption fee of GHS 3,983 for 5 exempted papers. Both groups still write all Level 3 papers. HND holders should weigh whether to also write Paper 2.6 Principles of Taxation, which is not exempted automatically.
ATSWA qualification holders
Holders of the ATSWA (Accounting Technicians Scheme West Africa) qualification are exempt from all 4 Level 1 papers plus Paper 2.3 Audit and Assurance and Paper 2.6 Principles of Taxation at Level 2. The total exemption fee is GHS 5,122 for 6 exempted papers, leaving 8 papers to write. ATSWA holders effectively enter ICAG at the mid Level 2 stage, among the strongest non degree exemption packages available.
Bachelor’s degree (Accounting) holders
Holders of a Bachelor’s degree in Accounting, including BSc, B.Ed (Accounting option), and B.Com, are exempt from all 4 Level 1 papers plus Paper 2.3 Audit and Assurance and Paper 2.6 Principles of Taxation. The total exemption fee is GHS 5,122 for 6 exempted papers. Eight papers remain: Papers 2.1, 2.2, 2.4 and 2.5 at Level 2 plus all 4 Level 3 papers. This is the most common ICAG exemption profile in Ghana.
Bachelor’s degree (Finance, Economics, Law and other non accounting) holders
Holders of Bachelor’s degrees in Finance, Economics, Law, or other non accounting disciplines are assessed by ICAG on a subject by subject basis from their academic transcript. There are no automatic exemptions. ICAG reviews each candidate’s transcript and grants exemptions only where the course content and standard are judged equivalent to the relevant ICAG paper. Most non accounting degree holders qualify for one to three Level 1 exemptions, not the full set.
Master’s degree (Accounting) holders
Master’s degree (Accounting) holders are exempt from all 4 Level 1 papers and 5 of the 6 Level 2 papers (every Level 2 paper except Paper 2.5 Public Sector Accounting and Finance). The total exemption fee is GHS 8,539 for 9 exempted papers. Only 5 papers remain: Paper 2.5 at Level 2 and all 4 Level 3 papers. This is the strongest standard route exemption package available.
Holders of other professional qualifications
Holders of professional qualifications outside the recognised IFAC member bodies, for example the Ghana Bar Association qualification, NIM, or institute memberships not affiliated with IFAC, are assessed on a subject by subject basis. There are no automatic exemptions. Members of recognised IFAC PAOs (ACCA, CIMA, ICAN, SAICA and others) follow the separate PAO pathway with significantly broader exemptions, covered in the dedicated PAO pathway section below.
Important · Other degrees and professional qualifications
Candidates holding degrees not listed above, such as a Bachelor’s in Finance, Economics, Law, or a non IFAC professional qualification, are assessed on a subject by subject basis. ICAG reviews the academic transcript and grants exemptions only for subjects where the content and standard are judged equivalent to the relevant ICAG paper. There is no automatic exemption for these candidates. Each case is assessed individually by ICAG.
Want a personalised exemption count for your exact qualification?
Use the Exemptions CalculatorHow much do ICAG exemptions cost in 2026?
Exemption fees are paid directly to ICAG Ghana, per paper exempted. They are a one off cost, paid once for each paper rather than recurring annually. The 2026 exemption fee schedule is set out below.
| Level | Fee per paper exempted | Max papers exemptable | Maximum total fee |
|---|---|---|---|
| Level 1 | GHS 711 per paper | 4 papers | GHS 2,844 |
| Level 2 | GHS 1,139 per paper | 5 papers (2.5 cannot be exempted) | GHS 5,695 |
| Level 3 | No exemptions for standard students | 0 | Not applicable |
A note on Level 2: the maximum of 5 exemptable Level 2 papers applies to Master’s degree holders only. Most degree holders are entitled to only 2 Level 2 exemptions (Papers 2.3 and 2.6). Paper 2.5 Public Sector Accounting and Finance typically cannot be exempted under any academic qualification for standard students.
Cost by qualification profile
| Qualification | Papers exempted | Exemption fees payable | Papers still to write |
|---|---|---|---|
| WASSCE / SSSCE | 0 papers | GHS 0 | 14 papers |
| Diploma in Accounting | 4 Level 1 | 4 × GHS 711 = GHS 2,844 | 10 papers |
| HND Accountancy | 4 Level 1 + 1 Level 2 (2.3) | GHS 2,844 + GHS 1,139 = GHS 3,983 | 9 papers |
| ATSWA | 4 Level 1 + 2 Level 2 (2.3 + 2.6) | GHS 2,844 + GHS 2,278 = GHS 5,122 | 8 papers |
| Bachelor’s Degree (Accounting) | 4 Level 1 + 2 Level 2 (2.3 + 2.6) | GHS 2,844 + GHS 2,278 = GHS 5,122 | 8 papers |
| MOU Level 300 Accounting | 4 Level 1 + 2 Level 2 (2.3 + 2.6) | GHS 2,844 + GHS 2,278 = GHS 5,122 | 8 papers |
| Master’s Degree (Accounting) | 4 Level 1 + 5 Level 2 (all except 2.5) | GHS 2,844 + GHS 5,695 = GHS 8,539 | 5 papers |
Should I take my ICAG exemptions or write the paper?
This is the question most students never think to ask. Taking an exemption saves time, but it does not always save money. In some cases, writing a paper is cheaper than exempting it. The three scenarios below use the 2026 standard figures.
Scenario 01 · Level 1, one paper at a time
A single Level 1 paper, written on its own
Exempt
GHS 711 exemption fee
Write
GHS 511 exam + GHS 450 MSL tuition = GHS 961
Verdict
Exemption saves GHS 250
Scenario 02 · Level 2, one paper alone
A single Level 2 paper, written on its own
Exempt
GHS 1,139 exemption fee
Write
GHS 911 exam + GHS 550 MSL tuition = GHS 1,461
Verdict
Exemption saves GHS 322
Scenario 03 · Level 2, within a 3-paper sitting
A Level 2 paper written as part of a three paper sitting
Exempt
GHS 1,139 exemption fee
Write
~GHS 769 exam + GHS 550 MSL tuition = GHS 1,319
Verdict
Exemption saves GHS 180
The averages shift as you add papers to a sitting. When sitting 3 Level 2 papers together, the total fee is GHS 2,305, averaging about GHS 769 per paper. When sitting 4 papers, the average drops to about GHS 697 per paper, at which point the cost difference between writing and exempting narrows considerably.
The calculation changes again when you consider the time value. A Level 2 exemption removes one paper from your total and potentially removes one entire sitting from your journey. At Level 2, each sitting avoided represents roughly 4 months of qualification time. For a candidate who values speed over cost, paying GHS 322 to save 4 months is straightforward.
When writing beats exempting
The only scenario where writing clearly beats exempting is when you are confident of passing and the exam entry cost plus tuition is lower than the exemption fee. At Level 1, sitting papers one at a time costs GHS 511 in exam fees plus GHS 450 in MSL tuition, GHS 961 in total, which is more than the GHS 711 exemption fee. This means Level 1 exemptions almost always save money for eligible candidates.
At Level 2 the calculus is tighter. A student sitting 3 Level 2 papers together pays about GHS 769 per paper in exam fees plus GHS 550 MSL tuition, GHS 1,319 total per paper, against a GHS 1,139 exemption fee. The exemption still saves money, but only GHS 180 per paper. A student sitting all 6 Level 2 papers together pays about GHS 697 per paper in exam fees, making the combined writing cost GHS 1,247 versus the GHS 1,139 exemption fee. The gap narrows to GHS 108.
MSL guidance · The practical rule
Take your Level 1 exemptions. They save both time and money. Take your Level 2 exemptions if you qualify for them: the per paper saving is real and the time saved is meaningful. The only exception is a candidate who is close to completing Level 2 and has a clear cost advantage from writing rather than exempting a remaining paper.
What ICAG exemptions are available for ACCA, CIMA, ICAN, SAICA and other IFAC members?
Members of professional accounting bodies that belong to the International Federation of Accountants (IFAC), including ACCA, CIMA, ICAN (Nigeria), SAICA (South Africa), and other recognised PAOs, follow a different, dedicated exemption pathway when applying to write the ICAG examinations.
This pathway is governed by Section 14(5) of the Institute of Chartered Accountants, Ghana Act, 2020 (Act 1058) and a formal procedure published by ICAG. The rules, fees and papers required differ materially from the standard student route. Every ACCA or CIMA professional considering ICAG membership should read this section carefully.
Eligibility · Full members only
Honorary members of other PAOs or bodies do not qualify for this pathway. This route is exclusively for full members of IFAC member professional accounting bodies who have completed the qualifying examinations of their respective PAO.
Papers PAO members must write, with no exemption available
Three papers cannot be exempted away by the PAO route, or can only be exempted under a strict condition.
| Paper | Rule for PAO members |
|---|---|
| Paper 2.5 Public Sector Accounting and Finance | Cannot be exempted. Must be written by all PAO members regardless of their existing qualification. |
| Paper 3.3 Advanced Taxation | Cannot be exempted. Must be written by all PAO members. Ghana specific advanced taxation knowledge is not assessed by any other PAO qualification. |
| Paper 3.2 Advanced Audit and Assurance | Must be written unless the PAO member has already written and passed an equivalent advanced audit paper under their PAO qualification. ACCA members who passed P7 / AAA are typically exempt from 3.2. CIMA members who have not written an equivalent paper must write 3.2. |
Full PAO paper and exemption fee schedule
The table below shows all 14 ICAG papers and their status for PAO members, sourced directly from ICAG’s official published procedure for PAO members.
| Paper | Exemption fee | Status for PAO members |
|---|---|---|
| 1.1 Financial Accounting | GHS 605 | Exempt, pay fee |
| 1.2 Business Management & Information Systems | GHS 605 | Exempt, pay fee |
| 1.3 Business and Corporate Law | GHS 605 | Exempt, pay fee |
| 1.4 Introduction to Cost & Management Accounting | GHS 605 | Exempt, pay fee |
| 2.1 Financial Reporting | GHS 690 | Exempt, pay fee |
| 2.2 Management Accounting | GHS 690 | Exempt, pay fee |
| 2.3 Audit and Assurance | GHS 690 | Exempt, pay fee |
| 2.4 Financial Management | GHS 690 | Exempt, pay fee |
| 2.5 Public Sector Accounting & Finance | Not applicable | Must be written, no exemption |
| 2.6 Principles of Taxation | GHS 690 | Exempt, pay fee |
| 3.1 Corporate Reporting | GHS 1,000 (proposed) | Exempt, pay fee |
| 3.2 Advanced Audit & Assurance | GHS 1,000 (proposed) | Exempt only if passed under PAO, otherwise must write |
| 3.3 Advanced Taxation | Not applicable | Must be written, no exemption |
| 3.4 Strategic Case Study | GHS 1,000 (proposed) | Exempt, pay fee |
PAO member exemption fees versus standard fees
PAO members pay different exemption fees from standard ICAG students. The PAO specific fees are lower.
| Level | Standard exemption fee | PAO member fee | Saving for PAO members |
|---|---|---|---|
| Level 1 (per paper) | GHS 711 | GHS 605 | GHS 106 per paper (GHS 424 across all 4) |
| Level 2 (per paper) | GHS 1,139 | GHS 690 | GHS 449 per paper (up to GHS 2,245 across 5) |
| Level 3 (per paper) | GHS 1,380 | GHS 1,000 (proposed) | GHS 380 per paper |
The Level 3 PAO exemption fees of GHS 1,000 per paper are marked as proposed in ICAG’s published procedure document, dated July 2024. These figures should be verified directly with ICAG at the time of application. Contact ICAG at studentservices@icagh.com or call 0243113543.
PAO member registration and subscription fees
PAO members also pay different registration and subscription fees from standard ICAG students.
| Fee item | Standard student (2026) | PAO member (2024 figures) |
|---|---|---|
| Registration fee (one time) | GHS 400 | GHS 330 |
| Annual subscription | GHS 400 | GHS 330 |
| Total first year administrative fees | GHS 800 | GHS 660 |
The PAO member registration and subscription fees shown are from ICAG’s 2024 published procedure and may have been updated for 2026. Verify current fees at sms.icagh.org before registering.
Total cost estimate for a PAO member
Using the published PAO fee schedule, here is the estimated total cost for an ACCA member who has passed an equivalent advanced audit paper registering with ICAG.
Worked example · ACCA member
ACCA member with an equivalent advanced audit pass
- Registration feeGHS 330
- Annual subscription (1 year)GHS 330
- Level 1 exemptions (4 × GHS 605)GHS 2,420
- Level 2 exemptions (5 × GHS 690, all except 2.5)GHS 3,450
- Level 3 exemptions (3.1 + 3.4 = 2 × GHS 1,000)GHS 2,000
- Exam entry, Paper 2.5 (1 paper, Level 2)GHS 911
- Exam entry, Paper 3.3 (1 paper, Level 3)GHS 1,104
- MSL tuition, 2.5 Public Sector AccountingGHS 550
- MSL tuition, 3.3 Advanced TaxationGHS 600
An ACCA member who has not passed an equivalent advanced audit paper must also write Paper 3.2 Advanced Audit and Assurance. Adding the second Level 3 exam entry and MSL tuition for 3.2 brings the estimate to approximately GHS 13,299.
Which Ghanaian universities have MOU exemption pathways with ICAG?
Level 300 students at universities that have a Memorandum of Understanding (MOU) with ICAG are eligible for special exemptions without needing to complete their full degree first. The exemptions available depend on whether you are in an Accounting or Finance option.
| University option | Level 1 exemptions | Level 2 exemptions | Condition |
|---|---|---|---|
| Level 300, Accounting Option | All 4 Level 1 papers | Paper 2.3 Audit & Assurance and Paper 2.6 Taxation | Must have completed Level 300 courses successfully |
| Level 300, Finance Option | All 4 Level 1 papers | Paper 2.3 and/or 2.6, only if those specific subjects were studied | Exemptions for 2.3 and 2.6 granted only if the student has taken those courses |
The standard exemption fees apply for MOU university students: GHS 711 per Level 1 paper and GHS 1,139 per Level 2 paper, the same schedule as Bachelor’s degree holders. The advantage of MOU status is timing. Level 300 students can begin ICAG earlier and potentially complete some papers before graduation.
ICAG maintains a current list of MOU universities on its website at icagh.org. If you are unsure whether your university has an MOU with ICAG, contact ICAG directly at studentservices@icagh.com before applying for exemptions.
How do I apply for ICAG exemptions?
Exemptions are applied for through the ICAG student portal in a fixed sequence. The fee is the final step, and the paper is only credited once it is paid.
Register as an ICAG student
Register at sms.icagh.org. You cannot apply for exemptions until you have a Student Registration Number (SRN). For a full walkthrough, see our ICAG Registration Guide for Ghana 2026.
Upload your supporting documents
Upload your academic certificates and transcripts on the student portal. PAO members also upload their membership certificate and any relevant result slips from their PAO qualification.
Select the papers and submit
Select the papers you are applying to exempt on the portal and submit your exemption application.
Wait for ICAG to review and approve
ICAG assesses your transcript against the specific content and standard of each ICAG paper you are claiming exemption for, then approves the eligible papers.
Pay the exemption fees
Once ICAG approves the exemptions, pay the applicable exemption fees through the portal before registering for examinations.
Confirm the papers are credited
Only after fees are paid will ICAG formally credit the exempted papers to your record. Outstanding exemption fees block progression: you cannot register for the next level until the exemption fees for the current level are cleared.
Timing · Apply well before your first sitting
Apply for exemptions well in advance of your first examination sitting. ICAG’s review process may take a few days, and if your exemptions are not approved and paid before the examination registration deadline, you cannot register for that sitting. MSL recommends applying for exemptions at the same time as, or immediately after, your student registration.
Are ICAG exemptions worth taking?
After reviewing your qualification background and the fee implications, the practical guidance from MSL Business School’s experience of preparing thousands of ICAG candidates is as follows.
Always take Level 1 exemptions if you qualify
Level 1 papers are multiple choice and accessible, but there are four of them, representing four sittings worth of exam fees plus tuition if written individually. The exemption fee is lower than the combined cost of writing them, and clearing Level 1 quickly gives you more time and mental energy for Level 2, which is where the qualification becomes genuinely demanding.
Take Level 2 exemptions for 2.3 and 2.6 if you qualify
Paper 2.3 Audit and Assurance and Paper 2.6 Principles of Taxation are the most commonly exempted Level 2 papers. Both are substantial written papers. The GHS 1,139 exemption fee per paper is justified by the time and preparation effort saved. Students who exempt 2.3 and 2.6 can focus their Level 2 preparation entirely on the four remaining papers, improving their performance across all four.
Think carefully about Master’s degree Level 2 exemptions
A Master’s degree holder eligible for 5 Level 2 exemptions (all except 2.5) pays GHS 5,695 in Level 2 exemption fees. The alternative, writing all 5 papers at once in a single sitting, costs GHS 3,485 in exam fees plus GHS 2,750 in MSL tuition, GHS 6,235 in total. The exemption route costs slightly less, GHS 540 less, and requires no preparation time for those 5 papers. For a working professional who values their time, taking the exemptions is the right call. For a student who wants to maximise learning, writing the papers builds deeper knowledge that carries forward to Level 3.
For PAO members, the exemption route is almost always correct
ACCA or CIMA members should take every available exemption. You are paying PAO specific fees that are meaningfully lower than standard rates, and you are reducing your examination burden to two or three papers in total. The goal is to complete ICAG membership efficiently, not to relearn content you already know at professional level. Focus all your preparation energy on the papers you must write, 2.5, 3.3, and where required 3.2, and exempt everything else.
Plan your exemptions with MSL
How can MSL Business School help with ICAG exemption planning?
Exemptions are one part of ICAG qualification planning. The bigger question, once you know which papers you are writing, is how to prepare for each one to pass first time. That is where MSL Business School’s role begins. Our team can help you assess your specific qualification background, confirm which exemptions apply, advise on the cost calculation, and structure your sitting plan so you qualify as efficiently as possible. We turn a confusing exemption policy into a clear paper by paper plan with a timeline and a budget.
MSL Business School is Ghana’s most awarded professional education institution, with 46 national awards, more than 3,000 ICAG students trained, and the Overall Best Graduating Student across all three ICAG sittings in 2024. As Ghana’s clear technology leader in professional education and the first and only provider with multimodal AI for professional exam students, MSL combines award winning ICAG preparation with the technology infrastructure that defines modern professional education. To discuss your exemption profile and register for MSL tuition, visit our ICAG page or message us on WhatsApp.
ICAG exemptions: frequently asked questions
What are ICAG exemptions?
ICAG exemptions allow candidates with relevant prior qualifications, including ACCA, CIMA, accounting degrees, HND Accountancy and ATSWA, to bypass specific papers in the Professional Qualifying Examination. The candidate applies through ICAG’s student portal at sms.icagh.org, uploads supporting documentation, and pays a per paper exemption fee before ICAG credits the paper. In 2026, standard exemption fees are GHS 711 per Level 1 paper and GHS 1,139 per Level 2 paper. No Level 3 exemptions are available for standard students; only members of recognised Professional Accounting Organisations qualify for Level 3 exemptions.
Who qualifies for ICAG exemptions in Ghana?
Eligibility depends on the prior qualification. Diploma in Accounting and HND Accountancy holders are exempt from all 4 Level 1 papers, with HND holders also exempting Paper 2.3. ATSWA holders and Bachelor’s degree (Accounting) holders are exempt from all 4 Level 1 papers plus Papers 2.3 and 2.6. Master’s degree (Accounting) holders are exempt from all 4 Level 1 papers and 5 of the 6 Level 2 papers, all except Paper 2.5. WASSCE and SSSCE holders receive no exemptions and must write all 14 papers. Non accounting degree holders are assessed subject by subject. PAO members follow a separate, broader pathway.
How much do ICAG exemptions cost in 2026?
Standard 2026 exemption fees are GHS 711 per Level 1 paper, up to GHS 2,844 for all 4, and GHS 1,139 per Level 2 paper, up to GHS 5,695 for the 5 that can be exempted. By profile: a Diploma in Accounting pays GHS 2,844 to exempt 4 papers; an HND Accountancy holder pays GHS 3,983 for 5; ATSWA and Bachelor’s (Accounting) holders pay GHS 5,122 for 6; and a Master’s (Accounting) holder pays GHS 8,539 for 9 exempted papers. Exemption fees are a one off cost paid directly to ICAG, not a recurring charge.
Can Paper 2.5 Public Sector Accounting and Finance be exempted?
No. Paper 2.5 Public Sector Accounting and Finance typically cannot be exempted under any academic qualification for standard students, and it also cannot be exempted under the PAO pathway. Every candidate, including ACCA and CIMA members, must write Paper 2.5. This is why even a Master’s degree (Accounting) holder, who is exempt from the other 5 Level 2 papers, still has Paper 2.5 among the 5 papers they must write.
Are there any Level 3 ICAG exemptions?
There are no Level 3 exemptions for standard ICAG students. All four Level 3 papers, Corporate Reporting, Advanced Audit and Assurance, Advanced Taxation, and Strategic Case Study, must be written by every standard candidate. Members of recognised IFAC Professional Accounting Organisations are the only exception: they may exempt Papers 3.1 and 3.4, and 3.2 if they have passed an equivalent advanced audit paper, but they must always write Paper 3.3 Advanced Taxation.
Should I take my ICAG exemptions or write the paper?
Taking an exemption always saves time, but not always money. At Level 1, writing one paper costs GHS 511 in exam fees plus GHS 450 in MSL tuition, GHS 961 in total, which is more than the GHS 711 exemption fee, so Level 1 exemptions almost always save money. At Level 2, a single paper exemption (GHS 1,139) saves GHS 322 against writing it alone, but the saving narrows to about GHS 180 within a 3 paper sitting and GHS 108 within a 6 paper sitting. MSL’s guidance is to take Level 1 exemptions and to take Level 2 exemptions if you qualify, since each Level 2 exemption can also remove roughly 4 months of qualification time.
What ICAG exemptions can ACCA and CIMA members claim?
Full members of IFAC bodies such as ACCA, CIMA, ICAN and SAICA follow a dedicated PAO pathway under Section 14(5) of the ICAG Act 2020 (Act 1058). They can exempt all 4 Level 1 papers, all Level 2 papers except 2.5, and Level 3 Papers 3.1 and 3.4, plus 3.2 if they passed an equivalent advanced audit paper. PAO exemption fees are lower than standard: GHS 605 per Level 1 paper, GHS 690 per Level 2 paper, and a proposed GHS 1,000 per Level 3 paper. Honorary members do not qualify for this pathway.
Which papers must ACCA and CIMA members still write for ICAG?
All PAO members must write Paper 2.5 Public Sector Accounting and Finance and Paper 3.3 Advanced Taxation, because Ghana specific public sector and advanced taxation knowledge is not assessed by other PAO qualifications. Paper 3.2 Advanced Audit and Assurance must also be written unless the member has already passed an equivalent advanced audit paper under their PAO. ACCA members who passed P7 or AAA are typically exempt from 3.2, while CIMA members who have not written an equivalent paper must write it. In practice most PAO members write only two or three ICAG papers.
What ICAG exemptions can Level 300 MOU university students claim?
Level 300 students at universities with a Memorandum of Understanding with ICAG can claim exemptions before completing their degree. Accounting Option students are exempt from all 4 Level 1 papers plus Papers 2.3 and 2.6, provided they have completed their Level 300 courses successfully. Finance Option students are exempt from all 4 Level 1 papers, and from 2.3 and/or 2.6 only if they studied those specific subjects. Standard exemption fees apply: GHS 711 per Level 1 paper and GHS 1,139 per Level 2 paper. ICAG maintains the current MOU university list at icagh.org.
How do I apply for ICAG exemptions?
Apply through the ICAG student portal at sms.icagh.org in six steps: register as an ICAG student to obtain a Student Registration Number; upload your supporting documents, including academic certificates and transcripts, and for PAO members the membership certificate and result slips; select the papers you are claiming and submit the application; wait for ICAG to review your transcript against each paper’s content and standard and approve eligible papers; pay the applicable exemption fees through the portal; and confirm the papers are credited. Outstanding exemption fees block progression to the next level. Apply at the same time as, or immediately after, your student registration.
Are ICAG exemptions worth taking?
For most candidates, yes. Level 1 exemptions almost always cost less than writing the papers and free up time and energy for the harder Level 2 stage. Level 2 exemptions for Papers 2.3 and 2.6 are worth taking for the time saved. A Master’s degree holder weighing 5 Level 2 exemptions (GHS 5,695) against writing all 5 (about GHS 6,235) saves roughly GHS 540 by exempting, plus all the preparation time. For PAO members the exemption route is almost always correct, reducing the examination burden to two or three papers. MSL Business School can confirm which exemptions apply to your profile and structure your sitting plan.
Key terms in this guide
- ICAG
- Institute of Chartered Accountants, Ghana. The professional body that regulates accountancy in Ghana, sets the Professional Qualifying Examination, and administers paper exemptions.
- PQE
- Professional Qualifying Examination. The complete ICAG examination process across three levels (Level 1, Level 2, Level 3) that leads to the Chartered Accountant qualification in Ghana.
- Exemption
- A credit granted by ICAG for a paper a candidate does not have to write, based on a recognised prior qualification, on payment of the exemption fee.
- Exemption Fee
- The per paper fee paid to ICAG to claim an exemption. GHS 711 per Level 1 paper and GHS 1,139 per Level 2 paper for standard students in 2026.
- PAO
- Professional Accounting Organisation. A professional accountancy body that is a member of IFAC, such as ACCA, CIMA, ICAN and SAICA. PAO members follow a separate ICAG exemption pathway.
- IFAC
- International Federation of Accountants. The global body whose member organisations qualify for the ICAG PAO exemption pathway.
- ATSWA
- Accounting Technicians Scheme West Africa. A technician level accountancy qualification. ATSWA holders are exempt from all Level 1 papers plus Papers 2.3 and 2.6.
- HND
- Higher National Diploma. A tertiary qualification from accredited Ghanaian institutions. HND Accountancy holders are exempt from all Level 1 papers plus Paper 2.3.
- MOU
- Memorandum of Understanding. An agreement between ICAG and a university that allows Level 300 students to claim exemptions before completing their degree.
- Paper 2.5 (PSAF)
- Public Sector Accounting and Finance. The one Level 2 paper that cannot be exempted under any standard or PAO route. Every candidate must write it.
- Pass Mark
- The minimum score required to pass each ICAG paper, fixed at 50% in 2026. Exemptions do not waive this standard for papers still written.
- SRN
- Student Registration Number. The identifier issued when a candidate registers as an ICAG student through sms.icagh.org, required before applying for any exemption.
Key points to remember
- Exemptions let candidates with prior qualifications skip specific PQE papers, reducing the load from 14 papers to as few as 5.
- Standard 2026 fees are GHS 711 per Level 1 paper and GHS 1,139 per Level 2 paper, paid to ICAG before the paper is credited.
- A Bachelor’s in Accounting exempts 6 papers for GHS 5,122; a Master’s in Accounting exempts 9 for GHS 8,539; Paper 2.5 PSAF can never be exempted.
- There are no Level 3 exemptions for standard students. PAO members (ACCA, CIMA, ICAN, SAICA) can exempt 3.1, 3.4 and 3.2 (if they passed an equivalent advanced audit), but must always write 2.5 and 3.3.
- Level 1 exemptions almost always save money; Level 2 exemptions save money and time; writing only wins in narrow late stage cases.
- Apply through sms.icagh.org after registering as a student. Exemptions are credited only once the fee is paid, and outstanding fees block progression.
Sources: ICAG exemption fees and policy are sourced from ICAG Ghana’s official student portal (sms.icagh.org) and MSL Business School’s verified 2026 FAQ pages. PAO member exemption fees and procedure are sourced from ICAG’s official published document, Procedure for Registration by Members of Other Professional Accounting Organisations (PAOs) to Write the ICAG Examinations, dated July 2024. PAO registration and subscription fees, and Level 3 exemption fees for PAO members, are from the 2024 document. Verify current figures at icagh.org or contact studentservices@icagh.com before registering. Standard fees are current as of the 2026 cycle.
