Institute of Certified Public Accountants of Pakistan
 | |
| Industry | Accounting and Finance |
|---|---|
| Founded | 1992 |
| Headquarters | Islamabad, Pakistan |
| Other Offices | Karachi; Lahore, Pakistan |
| President & CEO | Muhammad Aslam Arayain |
| Members | 1300 |
| Member's Designations | ACPA, FCPA |
| Website | icpap.com.pk |
The Institute of Certified Public Accountants of Pakistan (ICPAP) was established in August, 1992 with the objective of professional training in Accounting & Finance in accordance with the IAS/IFRS and relevant Pakistani corporate laws. Students have to undergo in comprehensive stages of education and professional training. The qualified members shall be entitled to use the designatory letters of ACPA and FCPA with their names, after clearing all the examination papers of CPA program and attaining the minimum stipulated period of training/experience.
The CPA Program offered by ICPAP is different in design, structure, scope, content and examinations from the CPA Program offered by the American Institute of Certified Public Accountants (AICPA), USA and others countries of the world. All reference to the CPA Program in this article pertains to the Program offered by ICPAP only.
The Institute of Certified Public Accountants of Pakistan (ICPAP) is an autonomous institution and not affiliated to any University, nor is it a University under the UGC/HEC Act. Moreover, it is also not chartered by any law or act of the parliament and is not recognized by the Securities and Exchange Commission of Pakistan, the apex regulator of corporate sector in Pakistan. The ICPAP and its constituents do not confer any degrees at bachelors and masters levels, as defined in the UGC/HEC Act.
Associate & Fellow Membership
A person may be admitted as an Associate Member if he passes all the papers of CPA program, and shall be entitled to use the designatory letters ACPA.
Fellowship in the above stream with designatory letters of “FCPA” could also be offered to persons presently engaged as Manager Finance, Finance & Cost Controller, Director Finance, Managing Director, Chief Executives Officer, Company Secretaries, Management, Finance and Corporate Consultants who meet the prescribed merit conditions.
The CPA membership is a professional certification accredited across the world specially in Australia, Canada, United Kingdom, Scotland, Cambodia, Saudi Arabia, Afghanistan, United Arab Emirates, Qatar and Sri Lanka. The CPA curriculum of six modules comprises twenty-seven subjects/papers including (9) optional courses and consisting of four specializations (each containing of three subjects/papers) in audit & accounts, forensic accounting & fraud investigation, capital market & banking and human resource accounting & development.
The ICPAP evaluates the credential of candidates, administers the examination, grants certificates and ensures that CPAs continue to meet the professional developments necessary to retain their certificates in good standing. The ICPAP functions under the overall guidance of the Board of Governors composed of Certified Public Accountants/Chartered Accountants/Cost & Management Accountants, leading consultants, seniors officers, bankers and corporate executives. The ICPAP staff plans and implements the ICPAP activities within the framework of policies and procedures established by the Board of Governors. The Academic Council comprises practitioners and distinguished academicians and other leading educational institutions. The ICPAP is credited with a team of qualified and experienced professional staff and faculty members.
Global Affiliations
- Ministry of Economy and Commerce, UAE has granted the Audit Rights to the members of Institute of Certified Public Accountants of Pakistan (ICPAP). UNITED ARAB EMIRATES full Auditor status recognition has been granted under Ministerial Decree No. 148 of 2012 by the Ministry of Economy - U.A.E.
- Chartered Institute of Management Accountants (CIMA), UK grants exemptions of certificate level of CIMA program to the qualified members of ICPAP.
- The Institute of Certified Forensic Accountants, USA grants full exemptions to the qualified members of ICPAP subject to payment nominal transfer fee
- Association of Certified Project Accountants (ACPA), USA also grants substantial exemptions to the qualified members of ICPAP.
- ICPAP members are also entitled to claim Graduate Accounting Technician as well as Advanced Accounting Technician of both the above programs.
- Institute of Certified Public Accountants, Ireland grants exemption in 06 papers of its CPA program to the qualified members of ICPAP.
- Institute of Financial Consultants, Canada (Chartered in USA and Canada) grants full exemptions to the qualified members of ICPAP subject to payment nominal transfer fee.
- Institute of Accounting Technicians, Canada (Chartered in USA and Canada) grants full exemptions to the qualified members of ICPAP subject to payment nominal transfer fee.
- Institute of Professional Accountants (IPA) UK, grants exemptions in 11 papers.
- Higher National Diploma (HND) by Edexcel UK, grants exemptions in 12 papers.
- Higher Diploma in Accounting (HDA) by BIMS is awarded to those who complete their CPA program with ICPAP.
- Association of Certified Public Accountants, UK gives direct membership to the qualified members of ICPAP.
- International Research Association, UK allows exemption in Level I and Level II of their LIFA Program.