04-14-2007, 07:54 PM
Dear,
Every ACA in Pakistan can open an audit firm. It makes clear that FCA can also open a firm whenever he likes.
However, in Pakistan, ACA or FCA before opening a firm must have to get a CERTIFICATE OF PRACTICE from ICAP on apllying for the same and depositing the required fee.
Further, permission to train the students is given by ICAP after three years of being in practice.
However, if ACA joins an existing audit firm as partner, his 10 seats (for training 10 studnets) are added to his partner who has secured a permission to train students. In his own capacity or as a sole proprietor he will have no seat until he completes 3 years of practice and then gets permission to train students.
Hope this would serve your purpose.
Regards,
Kamran.
Every ACA in Pakistan can open an audit firm. It makes clear that FCA can also open a firm whenever he likes.
However, in Pakistan, ACA or FCA before opening a firm must have to get a CERTIFICATE OF PRACTICE from ICAP on apllying for the same and depositing the required fee.
Further, permission to train the students is given by ICAP after three years of being in practice.
However, if ACA joins an existing audit firm as partner, his 10 seats (for training 10 studnets) are added to his partner who has secured a permission to train students. In his own capacity or as a sole proprietor he will have no seat until he completes 3 years of practice and then gets permission to train students.
Hope this would serve your purpose.
Regards,
Kamran.
