The Institute of Certified Public Accountants of Pakistan

The Certified Public Accountant (CPA) credential is the professional designation for management consultants, working executives, professional accountants, financial and corporate managers. The certificate provides distinction in today's economic climate end is an opportunity to certify your expertise in business areas that are critical to the decision making process.

The CPAs unique perspective is invaluable in business, public and government accounting and shows that you posses the skills and knowledge necessary to be an influential member of the management team. Companies throughout the country support the CPA program by looking for the CPA designation when hiring, and by encouraging their employees to become CPAs.

The growing list of CPAs includes individuals holding top management positions, middle managers working to become the leaders of the next decade, and those just starting their careers in financial accounting, management accounting, cost accounting and financial management. Regardless of where you are in your career or the size of your organization, the CPA provides an added dimension to your professional development.

VISION

To be the premier business qualification in Pakistan, comparable to the best in the world.

MISSION

To enhance the value and distinctive of the Certified Public Accountant (CPA) qualification, to promote high standards of professional conduct and technical competence of members to safeguard public interest and to provide quality professional education and training thereby creating a competitive advantage for members.

WHAT DOES A CPA DO?

Today, the role of CPA ranks among the most demanding in the Pakistan economic community. The CPAs ability to provide the information necessary to determine and evaluate the past, present and future economic activities of organizations is vital in our changing business environment.

CPAs who choose a career in public accounting may apply their skills in Accounting, Auditing, Corporate Laws, Tax Laws, Personal Financial Planning, Management Policy, Management Information System, Computer Operations and other areas. CPAs also pursue career in Business, Industry, Government and Education.

Registered/Head Office

1 2, Wasil Plaza, 105 Blue Area, Near Islamabad Stock Exchange,

Islamabad 44000, Pakistan.

Tel: +92 51 227 8627, +92 51 282 8410, Fax: +92 51 227 0534

CPA has no market in pk ,

Students face difficulties when they start preparation of Corporate Laws. Reason is that syllabus is too huge and they don't even have any book in which they can find complete syllabus. They need to search a lot to complete the contents of the syllabus but still it remains incomplete because it consists of 21 rules, ordinances, acts and regulations. So for the convenience of students complete syllabus of Corporate Laws is arranged here. It can be downloaded with just a single click. Following rules, acts, oprdinances are avaiable for download at below mentioned link.

http://uptodatearticles.com/2010/10/corporate-laws-pakistan/

* Syllabus

* Companies Ordinance, 1984

* Companies Rules, 1985

* Companies (Issue of Capital) Rules, 1996

* Companies (Appointment of Legal Advisors) Rules, 1975

* Companies (Buy-back of Shares) Rules, 1999

* Companies' Share Capital (Variation in Rights and Privileges) Rules, 2000

* NBFC Rules issued by SECP

* Foreign Exchange Manual 8th Edition

* Listing Regulations

* Code of Corporate Governance

* Banking Companies Ordinance 1962

* Cebtral Depositories Act 1997

* Central Depository Companies Establishment and Regulation Rules 1996

* Modaraba Companies and Modarabas (Floatation and Control) Ordinance, 1980

* Modaraba Companies and Modaraba Rules, 1981

* Insurance Ordinance 2000

* Insurance Rules 2002

* Securities and Exchange Ordinance 1969

* Securities and Exchange Rules 1971

* Competition Ordinance 2010

* Listed Companies (Substantial Acquisition of Voting Shares and Takeover) ordinance, 2002

Comsdev. What are you trying to say? Its totally unrelated to what Umair posted. You are talking about the ICAP Module Corporate Laws syllabus and he is talking about CPA.

@mathbatra, you are right. But I thought CPA and CA will have some sort of mutual syllabus of Corporate Laws. Isn't it soo?

[quote=", post:, topic:"]

@mathbatra, you are right. But I thought CPA and CA will have some sort of mutual syllabus of Corporate Laws. Isn’t it soo?
[/quote]

you are 100% right in terms of both designation having the same weight in terms of qualification, but CPA and CA are different in terms of regions they belong to, hence their syllabus are obviously defferent as each region has their own accounting requirements and rules

CA- CHARTERED ACCOUNTANT: is governed by british accounting standards and is common in former british colonies i.e. Pakistan

CPA-CERTIFIED PUBLIC ACCOUNTANT: is native to United States and follows American accounting standards, which is new to Pakistan and to be honest totally unneeded here since there is already CA well established in Pakistan. Now if people jump into it as if its fashion to get CPA then thats something else.

OK! I did not know that much about CPA! Thanks Mr. Kamran! I am student of ICAP Final Module and ACCA. I thought that CPA is a Pakistan Degree! Thanks for rectification!

[quote=", post:, topic:"]

CA- CHARTERED ACCOUNTANT: is governed by british accounting standards and is common in former british colonies i.e. Pakistan

[/quote]

It is not governed by “British” accounting standards. Its a Pakistani qualification and its Board i.e. Institute of Chartered Accountants of Pakistan (ICAP) was established under Pakistan law i.e The Chartered Accountants Ordinance, 1961. The qualification is governed by that Ordinance and other bye laws which are introduced by ICAP from time to time. However you are right about the point that it is common in former British colonies that is India, Pakistan, Sri Lanka etc.

@ Comsdev

No CPA is a USA qualification and you need to take their exams in either USA or Dubai (as far as I know). And its law course is very different, it doesn’t have any of the Pakistani laws. You can learn more about the CPA qualification at their website:

http://www.aicpa.org/

[quote=", post:, topic:"]

It is not governed by “British” accounting standards. Its a Pakistani qualification and its Board i.e. Institute of Chartered Accountants of Pakistan (ICAP) was established under Pakistan law i.e The Chartered Accountants Ordinance, 1961. The qualification is governed by that Ordinance and other bye laws which are introduced by ICAP from time to time. However you are right about the point that it is common in former British colonies that is India, Pakistan, Sri Lanka etc.

/

[/quote]

i kind of disagree with you in this respect, you have to seperate CA in two parts

1- Accounting math, auditing principles and ethics.

2- country specific laws i.e in pakistan federal level laws then provincial level laws which will differ from province to province and then within those provinces local govt laws which will be different from one municipality to another in terms of compliance and tax codes.

Bottom line:

ICAP itself is very well matured and sophisticated in terms of “PART 2” when it comes to compliance and tax codes of pakistan, but “PART 1” i mean Accounting math, auditing principles and ethics may not be governed directly by british law but what ever changes are brought in British Accounting in terms of “PART 1” is sooner or later either copied, implemented or embraced by ICAP for Pakistani accounting practices. so the influence is there no question about it.

First of all, there is not thing such as "accounting math". If you are talking about accounting rules and standards then let me clarify.

ICAP has adopted IFRS (International Financial Reporting Standards) for accounting standards, ISA (International Standards for Auditing) for Auditing, and IFAC Code of Ethics for Ethics in Pakistan. All these are international standards being developed and maintained by IFAC (International Federation of Accountants) based in US. We are miles ahead of a lot of countries in terms of compliance with IFRS largely due to the immense efforts of ICAP and all these standards being a part of the syllabus of Chartered Accountancy. Also the ironic thing is that US where these standards are based (or rather the IFAC office is based) is well behind in implementation of IFRS and will "start" joining the implementation of IFRS in 2014.

I agree with you that the earlier versions of laws relating to the accounting etc (which were a major part of the Companies Ordinance, 1984 previously) were lifted from British laws (Companies Act, 1913) but that is now history. As Companies Ordinance, 1984 now does not contain "much" guidance (some additional guidance is there) regarding accounting and financial statements. Instead, IFRS adopted by ICAP, relevant laws introduced by SECP and other regulations (including Companies Ordinance, 1984) form part of the "accounting standards" which is generally called "Accounting Standards applicable in Pakistan".

Though i agree with you that we as a nation still (to a small extent) copy other nations when making new laws but that is another story and it relates to Government not ICAP! ICAP does not make laws (it can make and propose standards though)! Its an accounting board and is a member of IFAC. Example is the "Substantial Acquisition Laws" developed by SECP (Securities and Exchange Commission of Pakistan) which were largely inspired by US based Substantial Acquisition laws but there is no harm in taking help from other countries. There is no "Copyright" on laws and can be freely used by anyone. If we can adopt technology, traffic laws, civil laws and many other laws then why not accounting laws? In the same way other developing countries can take our (Pakistani) laws and adopt them, there is no harm. :)

I hope I have cleared your misconceptions about ICAP.

P.S. I am an ICAP finalist too and i had to defend my Institute! But all points given above are facts. :)

^^^

god have mercy on me, i have had it with this thread, typical ratta mentaltiy crowd, dude accounting math is something i used generic term, and yes accounting is math, it is combination of 4 basic math functions 1 addition 2 subtraction 3 division 4 multiplication. a

reality freakin check all the ICAP crap means nothing, business in pakistan is not done with whatever they'll teach you there, never have been and never will.

get yourself out of ICAP topi drama and look out what legalized form of chor bazari is going on starting from your president to prime minister to chaprasi level.

god damn man i tried to reason with you people you are more interested in kira nikalna. instead of intellectual exchange

show in which part of economy ICAP topic drama rules are being used honestly in this country.

ICAP CA may sound nice in your drawing rooms conversation to impress another dumb guy infront of you.

I am out of this thread.

I agree with Mr. Kamran that what ICAP teaches us is rarely used in practical life. It is not only about ICAP but all the accounting bodies. All the accounting bodies teach us to be independent while conducting our Audit. But bit compliance of spirit of auditing standards can be seen on Big 4. All other firm are largely dependent of their external clients. I am working in audit from last 2.5 years and have seen many such instances. So brother, we are the persons (Accountants) who make the standards and we search the ways to get out of it. So its not about ICAP its about all accounting bodies.

Second thing is that ICAP members are technical person. This is why they are not very good in communication. You may feel when talking to them that they are dumb. But how would you justify 6,7 digits salary that they are getting. No one pays you that much if you are not eligible. Companies require technical knowledge from them not the knowledge to talk in drawing rooms. I hope you got my point!

Okay. I will leave this post too after my last closing post. Since I don't want to start a flaming war here.

@ Kamran

You went completely off topic in your last post. We are not talking about what is really happening in the country or what companies are doing. We were talking about the role of ICAP in terms of the points you mentioned:

1. Accounting rules, auditing and ethics (The part you said accounting math)

2. Corporate laws, taxation and other laws

You said the ICAP lags behind in terms of Part 1. That was simply untrue and the point that ICAP "adopts" whatever "British" (as you keep on referring) come up with.

If you would read my post it clarifies your assumption regarding that point. The reason is that all of the accounting, auditing and ethics rules are not made by "British"!! They are "International" standards developed and maintain by IFAC and in collaboration with member bodies of several countries. So your assumption that they are made by British and then we copy them is totally unacceptable to me as an accounting student. Then you said the ICAP is self sufficient in terms of Point 2. How can ICAP be sufficient in taxation laws, corporate and other laws. ICAP has nothing to do with it! Its not their domain at all. Its upto SECP / Parliament to make and amend laws and for Companies to follow them. But I "did agree" with you that we as a nation do copy other developed countries' laws and there is nothing wrong with that.

Bear in mind that we are doing an "intelligent" conversation here and:

1. Accounting may have some base in maths, but it is not "maths". Its much more than that!

2. I am not "taking out Keeras" as you said but instead was clarifying what you said. I think you can clarify something if you know more about it, there is nothing wrong with that. Also my post was "not" intended to ridicule you in some way. It was just a healthy discussion.

3. What do you mean by "ratta mentality crowd"? Do you think i post these things after taking them out of a textbook? :)

Anyway, i hope you are not cross with me. As i was just doing discussion and this is what these forums are about, nothing else. Peace!

@ Comsdev

Its not restricted to accounting bro. This is something that is a universal truth. All over the world lawyers are paid huge sums of money to circumvent the law and to save companies from penalties or unfavourable judgments. This may be corporate law, tax law, civil law, import laws etc etc. You should read some novels by John Grisham and you'll get the idea! (joking) :)

You are right that Accountants are mainly technical people but that "articleship" is the learning ground for improving your interpersonal skills and making contacts. So make good use of it. Since we are not able to do that mostly in our college time (due to exam pressure!).

@ The Moderators

Shouldn't the first post (by the guy called Umair) would have been deleted? Since it looks like an unauthorised advertisement to me.