Specialized Certification Exams

The Icelandic Certified Public Accountant Examination, known as "Hagfræðiembættispróf," is administered by the Icelandic Institute of Certified Public Accountants (Félag hagfræðinga). The examination aims to assess candidates' knowledge, skills, and competence in accounting, auditing, taxation, and related areas in accordance with Icelandic accounting standards and regulations.

The examination covers a range of topics including:
⚫ Financial Accounting: Principles, standards, and practices related to recording, summarizing, and reporting financial transactions and statements.
⚫ Managerial Accounting: Cost accounting, budgeting, decision-making techniques, and performance measurement.
⚫ Auditing: Standards, procedures, and techniques for examining and evaluating financial statements and internal controls.
⚫ Taxation: Icelandic tax laws, regulations, and procedures related to income tax, value-added tax (VAT), corporate tax, and other taxes.
⚫ Business Law: Legal aspects relevant to accounting and auditing, including contracts, business organizations, and regulatory frameworks.
⚫ Ethics: Professional ethics and responsibilities of certified public accountants, including independence, objectivity, and confidentiality.

The examination format may include multiple-choice questions, case studies, essays, and practical exercises to assess candidates' theoretical knowledge and practical application of accounting principles and techniques.

For the most accurate and up-to-date information on the syllabus and examination format, it's recommended to consult the Icelandic Institute of Certified Public Accountants or visit their official website. They should provide detailed information regarding exam structure, syllabus, and any updates or changes to the examination content.