You will not be awarded with a degree or diploma certificate after completing CPA. However, you will be given a certificate of completion.
CPA is a professional exam which was introduced to improve skills and knowledge for those in the business career.
These days, people do CPA to improve their chances of being employed.
UPDATE: In the new KASNEB syllabus, CPA is now equivalent to a degree course as it has been placed at KNQF LEVEL 7.
Read more about KASNEB New syllabus