06-21-2005, 08:47 PM
<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote>1. The Institute of Chartered Accountants of Pakistan
ICAP is a statutory autonomous body governed by its representative members constituted under the Chartered Accountants Ordinance, 1961.
Included in its charter is the audit of limited liability companies.
About Twenty-one members are serving the public sector and Government-owned enterprises and the rest are located in industry or in public practice.
The body has strong links with other accounting bodies within the country through the ICAP/ICMA Committee and being a co-sponsor of PIPFA with the Auditor-General of Pakistan and ICMA.
ICAP has also entered into an arrangement involving bilateral exemptions with the Association of Chartered Certified Accountants (ACCA-UK)& the Chartered Institute of Management Accountants (CIMA-UK)
Members of ICAP have been represented on Technical Committees of IFAC.
In 1998 two members of ICAP were nominated to the Information Technology Committee of IFAC, the first time nominations had been made to an IFAC committee from a developing country.
The Council comprises 16 members of whom the members elect 12 and four are nominees of the Federal Government.
The Council is responsible for the overall control and direction of ICAP.Standing and Other Committees
These committees are established for various purposes including
Education and training of the students seeking professional qualification and membership of the Institute.Investigation into any cases of violation of any ethical codes by the members or students and recommendation of the necessary disciplinary action.Provision of the professional input into the standards development process, either local or international, by the members and to provide the Council with appropriate recommendations to be forwarded to IFAC. To provide technical advice to the members on any accounting or auditing issues.Implementation of the quality controls and review procedures in the accounting and auditing practice in Pakistan.Continuing professional education of the members.Coordinate with the members working abroad and other similar bodies inside and outside the country.Development of accounting standards to account for the Islamic
ways of financing and investments.Liaison with the government on economic and financial policy making decisions.Corporate governance.The administration of the employees and members benevolent and provident funds arrangements. Regional committees are organized to promote professional education activities at regional levels through seminars and workshops. Local chapters also contribute to the objective causes of the Instituteâs standing committees.
ICAP is a member of the Confederation of Asian and Pacific Accountants (CAPA) and the South Asian Federation of Accountants (SAFA).
Educational Requirements
The prerequisite entry requirement is âAâ level examinations passed in
Pakistan or outside Pakistan through any examining body in the UK
with a minimum number of passes as determined by the Council.
Within Pakistan, the Higher School Secondary Certificate and the
Intermediate Examinations are accredited prerequisite entry
requirements.
The candidates, after passing the Pre-Entry Proficiency
Test also have to pass the Foundation/Intermediate Examinations of the Institute to be eligible for the four yearsâ training with a registered firm of accountants.
In addition, candidates have to pass two stages of Professional Examinations to be entitled to membership of the Institute.
Candidates who have passed ICMA, Chartered Institute of
Management Accountants (CIMA â UK), Association of Certified
Chartered Accountants (ACCA â UK) have to complete three years of
training and further exemptions are available in the examinations.
Members of recognized accounting bodies can obtain direct
membership of the Institute after passing the Corporate Laws &
Practices and Taxation Subjects of Professional Examinations.<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote>
Continued
ICAP is a statutory autonomous body governed by its representative members constituted under the Chartered Accountants Ordinance, 1961.
Included in its charter is the audit of limited liability companies.
About Twenty-one members are serving the public sector and Government-owned enterprises and the rest are located in industry or in public practice.
The body has strong links with other accounting bodies within the country through the ICAP/ICMA Committee and being a co-sponsor of PIPFA with the Auditor-General of Pakistan and ICMA.
ICAP has also entered into an arrangement involving bilateral exemptions with the Association of Chartered Certified Accountants (ACCA-UK)& the Chartered Institute of Management Accountants (CIMA-UK)
Members of ICAP have been represented on Technical Committees of IFAC.
In 1998 two members of ICAP were nominated to the Information Technology Committee of IFAC, the first time nominations had been made to an IFAC committee from a developing country.
The Council comprises 16 members of whom the members elect 12 and four are nominees of the Federal Government.
The Council is responsible for the overall control and direction of ICAP.Standing and Other Committees
These committees are established for various purposes including
Education and training of the students seeking professional qualification and membership of the Institute.Investigation into any cases of violation of any ethical codes by the members or students and recommendation of the necessary disciplinary action.Provision of the professional input into the standards development process, either local or international, by the members and to provide the Council with appropriate recommendations to be forwarded to IFAC. To provide technical advice to the members on any accounting or auditing issues.Implementation of the quality controls and review procedures in the accounting and auditing practice in Pakistan.Continuing professional education of the members.Coordinate with the members working abroad and other similar bodies inside and outside the country.Development of accounting standards to account for the Islamic
ways of financing and investments.Liaison with the government on economic and financial policy making decisions.Corporate governance.The administration of the employees and members benevolent and provident funds arrangements. Regional committees are organized to promote professional education activities at regional levels through seminars and workshops. Local chapters also contribute to the objective causes of the Instituteâs standing committees.
ICAP is a member of the Confederation of Asian and Pacific Accountants (CAPA) and the South Asian Federation of Accountants (SAFA).
Educational Requirements
The prerequisite entry requirement is âAâ level examinations passed in
Pakistan or outside Pakistan through any examining body in the UK
with a minimum number of passes as determined by the Council.
Within Pakistan, the Higher School Secondary Certificate and the
Intermediate Examinations are accredited prerequisite entry
requirements.
The candidates, after passing the Pre-Entry Proficiency
Test also have to pass the Foundation/Intermediate Examinations of the Institute to be eligible for the four yearsâ training with a registered firm of accountants.
In addition, candidates have to pass two stages of Professional Examinations to be entitled to membership of the Institute.
Candidates who have passed ICMA, Chartered Institute of
Management Accountants (CIMA â UK), Association of Certified
Chartered Accountants (ACCA â UK) have to complete three years of
training and further exemptions are available in the examinations.
Members of recognized accounting bodies can obtain direct
membership of the Institute after passing the Corporate Laws &
Practices and Taxation Subjects of Professional Examinations.<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote>
Continued
