ICAG past questions · Level 2 & Level 3
ICAG past questions, decoded through examiner feedback
See the recurring strengths, weaknesses and question-level observations in every available ICAG Level 2 and Level 3 chief examiner report from November 2019 onward.
This searchable study resource covers Financial Reporting, Management Accounting, Audit and Assurance, Financial Management, Public Sector Accounting and Finance, Principles of Taxation, Corporate Reporting, Advanced Audit and Assurance, Advanced Taxation and Strategic Case Study. Start with the high-level patterns for your paper, then open the supporting report for any examination sitting.
Visit the official ICAG past-questions archive ↗Two syllabus eras. Read the trends in context.
The current syllabus took effect in November 2024, so start with the current-syllabus insights when preparing for your next examination.
ICAG 2024–2029 syllabus
November 2024 onward. Use this era first when preparing for a current examination.
Reports covered here: November 2024 to the latest available sitting.
Revised ICAG 2019–2024 syllabus
November 2019 through the final pre-change sitting covered here.
July 2024 is the final sitting covered before the current syllabus took effect.
Choose your level and paper
The overview updates instantly. You can then compare all sittings or isolate one syllabus era.
Examiner patterns by paper
A plain reference summary of the archive above, drawn only from what the chief examiners wrote in the current 2024–2029 syllabus era, November 2024 to March 2026. Use the explorer above to read every report in full, including the 2019–2024 syllabus era.
ICAG Paper 2.1 · Financial Reporting
The examiner ties failure in this paper to one thing above all: comprehension and application of IFRS. Consolidated financial statements are consistently the strongest question, while preparing and presenting single-entity statements, including the statement of cash flows and the statement of changes in equity, is repeatedly named the greatest challenge. The November 2024 sitting recorded a pass rate of about 39 percent, and every published report since has described performance as below expectation.
Open Paper 2.1 in the explorer ↑ICAG Paper 2.2 · Management Accounting
Theory questions are consistently well answered; the paper is decided on the computational side. Recent reports flag overhead absorption and ABC cost driver rates, separating mixed costs, yield variances and the incremental cost effectiveness ratio as the areas where candidates lose the paper. March 2025 was called one of the best performances in recent times, but most current-syllabus sittings are described as below expectation.
Open Paper 2.2 in the explorer ↑ICAG Paper 2.3 · Audit & Assurance
The strongest pass rates of any Level 2 paper: between 83 and 87 percent across the five current-syllabus sittings, including 85.38 percent in November 2024 and 83 percent in March 2026. The recurring weaknesses are applying theory to scenarios, drafting qualified opinions and disclaimers in audit reports, going concern procedures and ethical issues in assurance engagements.
Open Paper 2.3 in the explorer ↑ICAG Paper 2.4 · Financial Management
Pass rates swing sharply between sittings: 43 percent in November 2024, 41 percent in March 2025, 30 percent in July 2025, 55 percent in November 2025, then almost half in March 2026. In nearly every sitting one quantitative question collapses the average, and the examiner repeatedly names weak capacity in the quantitative aspects of the syllabus and selective topic coverage as the causes.
Open Paper 2.4 in the explorer ↑ICAG Paper 2.5 · Public Sector Accounting & Finance
Pass rates in the current era have ranged from 20 percent in March 2026 to 38 percent in July 2025, with 24 percent in November 2024 and 29 percent in November 2025. The same four weaknesses recur in almost every report: misreading question requirements, narrow revision concentrated on financial statement preparation, weak application of IPSAS, and time lost on the statements question.
Open Paper 2.5 in the explorer ↑ICAG Paper 2.6 · Principles of Taxation
The examiner's constant refrain is that taxation is a creature of legislation: answers must be grounded in the tax laws, and candidates who rely on general knowledge fail. Pass rates ranged from 39 percent in November 2024 and 35 percent in July 2025 to 21 percent in November 2025, recovering to about 53 percent in March 2026, a sitting in which fewer than two percent of candidates passed the tax-law question on repairs, improvements, reliefs and capital allowances. VAT, pensions under Act 766 and tax administration are repeatedly named weak areas.
Open Paper 2.6 in the explorer ↑ICAG Paper 3.1 · Corporate Reporting
In March 2026 the examiner noted that approximately 70 percent of the paper involved complex group accounting scenarios and professional-level accounting standards, and that candidates who cannot express themselves clearly in writing will find it difficult to pass. The last two current-syllabus reports both record performance better than the previous diet, and both attribute success to a clear understanding of the relevant IFRS.
Open Paper 3.1 in the explorer ↑ICAG Paper 3.2 · Advanced Audit & Assurance
Stated pass rates in the current era: 48.78 percent in November 2024, 39.61 percent in March 2025, then a marked improvement to 53.34 percent in November 2025, which the examiner contrasts with the 30.02 percent cited for July 2025. Every report repeats the same four weaknesses: failing to relate answers to the scenario, inadequate application of auditing standards, over-elaborating beyond the marks allotted, and presentation problems including handwriting and question numbering.
Open Paper 3.2 in the explorer ↑ICAG Paper 3.3 · Advanced Taxation
Candidates show growing control over change in underlying ownership, petroleum and mining taxation and fiscal policy. The persistent weaknesses are VAT administration, customs, the taxation of trusts and thin capitalisation, and the examiner repeatedly warns that omitting computation headings costs marks. Mastery of the Level 2 taxation paper is named as the foundation for passing this one.
Open Paper 3.3 in the explorer ↑ICAG Paper 3.4 · Strategic Case Study
The examiner's recurring conclusion is inadequate preparation, and the paper turns on strategic models. Candidates handle the popular frameworks well, including value chain analysis, PESTLE, Porter's Five Forces and Ghana's corporate governance codes, but fail on less-drilled models such as the BCG Matrix, the GE/McKinsey Directional Policy Matrix and Bowman's Strategy Clock, and on the embedded financial management calculations. In November 2024, over 60 percent of candidates scored below 40 marks.
Open Paper 3.4 in the explorer ↑ICAG past questions: frequently asked questions
Where can I download official ICAG past questions and suggested solutions?
ICAG publishes past questions, suggested solutions and chief examiner reports on the official archive at icagh.org. This page decodes the examiner commentary that accompanies those papers so you can see the recurring patterns before opening any PDF.
What is an ICAG chief examiner report?
After each examination sitting, ICAG publishes a report for every paper covering the standard of the paper, the performance of candidates, and the strengths and weaknesses the examiner observed, often down to individual questions and pass rates.
Which papers and sittings does this page cover?
All ten ICAG Level 2 and Level 3 papers across every sitting from November 2019 to March 2026, spanning the revised 2019–2024 syllabus and the current 2024–2029 syllabus that took effect in November 2024.
What is the ICAG pass rate?
There is no single ICAG pass rate; it varies sharply by paper and by sitting. Among current-syllabus sittings, stated overall pass rates range from 20 percent (Public Sector Accounting and Finance, March 2026) to 87 percent (Audit and Assurance, July 2025), with a pass mark of 50 for every paper. Open any paper in the explorer above to read the stated rates and commentary in each report.
How many times a year are ICAG exams held?
ICAG runs three examination sittings each year, in March, July and November, and a chief examiner report is published for each paper after every sitting. Earlier years followed different calendars, which is why the archive includes sittings such as April, May, August and December.
How do you use examiner reports to prepare for ICAG exams?
Start with the recurring patterns for your paper rather than a single report. The same weaknesses repeat across sittings: misreading question requirements, weak application of standards and law to scenarios, and time lost on over-long answers. Fixing the recurring failures for your paper removes the mistakes most candidates repeat.
Do older examiner reports still matter after the syllabus change?
Yes, as context. The current 2024–2029 syllabus took effect in November 2024, so current-era reports should lead your preparation, while reports from the 2019–2024 syllabus show how examiners have treated each subject over time.