Overview: CAP2

CAP2 builds on the foundation knowledge studied at CAP1 and follows the cumulative knowledge principal.


There are four subjects on the CAP2 syllabus:
Audit, Tax (ROI/NI), Strategic Finance and Management Accounting (SFMA) and Financial Reporting (FR).

The topics covered in the syllabus are mapped on the competency statement which you can find using the link below. With the cumulative principle, some topics in CAP2 expand upon CAP1 knowledge and some subject areas will be carried into FAE.

Students enrolling on to CAP2 will have the choice of enrolling on two or four subjects. If a student has one and a half subjects (or less) outstanding at CAP1 there is a bridging option which combines the remaining CAP1 subjects with CAP2 Audit and Tax.

If a student has exemptions and joins the Institute at this level it is their responsibility to ensure they are fully conversant with topics carried forward. The CAP1 competency statement, most recent exam papers and examiner reports and recordings are available on our website.


CAP2 offers nine timetables across six centres; Belfast, Cork, Dublin, Galway, Limerick and Waterford/Kilkenny. A sample of these timetables can be seen on the student portal.

The Distance programme is available in Dublin, Galway and Belfast, for more information on the Distance programme, please go to the Overview: Distance Programmes page.

The harmonisation of materials ensures that all centres deliver the same content; this comes in the form of class slides, question banks and online recordings. These are all tracked in a learning journal, which breaks down the syllabus into sessions and allows students to track their progress throughout the academic year. A link to the learning journal can be found below.

In addition to lectures we also introduced FR workshops and case studies at this level to prepare students for their final year of studies (FAE).


There are three Interim assessments at CAP2 and marks are awarded toward your exam: Financial reporting (10%), SFMA case study (15%) and Audit (15%) while the end of year exams takes place in June.

Recommended downloads: CAP2

The Learning Journal includes the summer 2016 exam past-papers along with the suggested solutions and examiner reports.

Key dates: CAP2

Dates What's happening
04 October - 07 October 2016 CAP2 autumn 2016 exams
04 November 2016 Closing date for receipt of training contracts
18 November 2016 Publication of CAP2 autumn 2016 exam results
25 November 2016 Closing date for applications for CAP2 autumn 2016 information and appeals schemes
14 January 2017 CAP2 SFMA and FR interim assessments
30 February 2017 Closing date for receipt of exam entry forms for CAP2 summer 2017 exams
01 April 2017 CAP2 Audit interim assessment
08 April 2017 CAP2 mock exams (Audit and Tax)
22 April 2017 CAP2 mock exams continued (FR and SFMA)
20 June - 23 June 2017 CAP2 summer 2017 exams
11 August 2017 Publication of CAP2 summer 2017 exam results
18 August 2017 Closing date for applications for CAP2 summer 2017 information and appeals schemes
25 August 2017 Closing date for receipt of exam entry forms for CAP2 autumn 2017 exams
01 September 2017 Closing date for receipt of course enrolment forms for CAP2 and FAE

Booklist: CAP2

Book names ISBNs

CAP2 General

CAP2 Learning Journal ROI

CAP2 Learning Journal NI

Student Technical Handbook




CAP2 Audit

External Auditing and Assurance 2nd Ed (Revised) **

Financial Reporting Council Auditing Standards and Guidance 2015 **

** not issued again at FAE and students are expected to carry over these books.




CAP2 Taxation ROI/NI

CAP2 Taxation (ROI) 2016-17

CAP2 Taxation (ROI) Toolkit 2016-17

CAP2 Taxation (NI) 2016-17

CAP2 Taxation (NI) Toolkit 2016-17






Managerial Accounting 3rd Ed by Martin Nolan *

Finance: Theory and Practice 3rd Ed by Peter Clarke *

SFMA Toolkit

* only issued if students did not do CAP1.





CAP2 Financial Reporting

Consolidated Financial Statements by Paul Mahony

International Financial Accounting and Reporting 4th Ed by Ciaran Connolly

Case Studies in Advanced Financial Reporting by John Casey and Clare Kearney

IFRS Standards 2016 **

FRS 102 - The Financial Reporting Standard applicable to the UK and Republic of Ireland **

** not issued again at FAE and students are expected to carry over these books.






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