📌Revised Syllabus of CPD Exam all stages

 

📌Revised Syllabus of Continuous Professional Development Examinations

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🔹 Stage I Examination

C-1 Financial Management

Duration: 2 hours  Maximum Marks: 100

1. Analysis of Financial Statements

Understanding and interpreting financial statements, methods and limitations of financial analysis, ratio analysis, funds flow and cash flow analysis.

2. Concepts of Value and Return

Time value of money, present value, future value, annuities, and rate of return.

3. Investment Decisions

Basics of capital budgeting, methods of evaluation, short-term vs long-term decisions, capital rationing, and factors affecting investment decisions.

4. Financial Planning and Capital Structure

Estimation of capital needs, fixed and working capital, capitalization, and types of capital structure.

5. Sources of Finance

Financial markets, debentures, loans, bridge finance, loan syndication, book-building, financial institutions, venture capital, mutual funds, factoring.
New instruments: commercial papers, securitization, GDRs, derivatives (options, forwards, futures, swaps).
Lease financing: concept, types, and difference from hire purchase.

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6. International Financial Management

Foreign exchange market, exchange risk management, and payment methods in international trade such as open account, bank transfer, letter of credit, and consignment.

7. Public Procurement

Principles and methods of procurement, transparency, professionalism, penalties, debarment.
Indian Contract Act, 1872 and Arbitration & Conciliation Act, 1996.

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Suggested Reading:

1. Financial Management – Ravi M. Kishore
2. Indian Financial System – H.R. Machiraju
3. Indian Contract Act, 1872 (updated)
4. Arbitration & Conciliation Act, 1996 (updated)

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C-2 Accounting and Auditing Principles & Standards

Duration: 2 hours  Maximum Marks: 100

Coverage includes:

1. CAG Auditing Standards (2017)
2. International Auditing Standards (IFAC)
3. Indian Accounting Standards (IND AS)
4. Indian Government Accounting Standards (IGAS)
5. International Public Sector Accounting Standards (IPSAS)
6. CAG Guidelines on Data Analytics

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Suggested Reading:

Standards and guidelines issued by respective authorities.

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🔹 Stage II Examination

C-3 Public Finance

Duration: 2 hours  Maximum Marks: 100

1. Public Financial Management

Meaning, importance, maximum social advantage, role under different systems, federal finance, Finance Commission recommendations, Union Budget analysis, FRBM Act.

2. Public Expenditure

Principles, types (revenue & capital), development vs non-development expenditure, and its effects.

3. Public Revenue

Sources of revenue, taxation principles, good tax system, tax structure, and direct vs indirect taxes.

4. Problem of Equity

Cost of service, benefit principle, ability to pay, proportional vs progressive taxation.

5. Public Debt

Types, purpose, repayment methods, and impact on economy.

6. Economic Development and Planning

National income, central banking, monetary vs fiscal policy, balance of payments, growth factors, government measures, planning types (centralized vs decentralized).

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Suggested Reading:

1. Public Finance – S.K. Singh
2. Modern Economic Theory – K.K. Dewett
3. Union Budget
4. FRBM Act
5. Finance Commission Reports

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C-4 General Principles of Economics

Duration: 2 hours  Maximum Marks: 100

Economics:

1. Basic Concepts
2. Demand and Supply
3. Consumer Theory
4. Production and Costs
5. Types of Markets

International Trade:

6. Trade Theories
7. Trade Policy Instruments
8. International Financial System

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Suggested Reading:

1. Economics – Samuelson & Nordhaus
2. Modern Economic Theory – Dewett

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🔹 Stage III Examination

C-5 General Studies & Current Economic Developments

Duration: 2 hours  Maximum Marks: 100

Topics:

1. Indian economy, planning, growth, employment
2. Social and economic inclusion, governance, accountability
3. Environment and sustainability
4. India’s global economic relations (IMF, World Bank, WTO, etc.)
5. Science & technology developments (IT, space, biotech, IPR)
6. Sustainable Development Goals (SDGs)

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Suggested Sources:

• NITI Aayog
• National e-Governance Plan
• Digital India

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🔹 C-6 Information Systems Audit (CPD-III)

(Effective from 2021 Exam)

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1. Information Systems Audit

1.1 System Development & Implementation

Project management, governance, SDLC, software methods, IT services, BCP.

1.2 Governance of Information Systems

Frameworks (COBIT, ISO), IT Act 2000, Aadhaar Act, security policies, Digital India.

1.3 IS Audit Process

CAG guidelines, risk-based audit, controls, audit activities, data analytics (CAATs).

1.4 Protection of Information Assets

Access control, network security, data classification, encryption, cyber threats (OWASP), security tools, incident response.

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2. Suggested Reading:

• COBIT framework
• ISO standards
• CAG IT audit guidelines
• WGITA handbook

April 04, 2026

CPD, Syllabus ALL