institute of certified public accountants of pakistan

Institute of Certified Public Accountants of

Pakistan

OFFERSINTERNATIONALLY RECOGNIZED PROFESSIONAL

QUALIFICATION OFCERTIFIED PUBLIC ACCOUNTANT

ASSOCIATE & FELLOW (CPA)

Become a Certified

Public Accountant

CPA

Admissions Open

Now

S T E P S T O G E T A H E A D I N Y O U R C A R E E R

www.icpap.com.pkInstitute of Certified Public Accountants of

Pakistan (ICPAP)

Sr. No. Particulars Page No.

1 International Partners 32 Vision 43 Mission 44 What is a Certified Public

Accountant5

5 What does a CPA do? 56 Accountants of Pakistan

(ICPAP)6

7 Objects of the Institute 68 Roll of CPA in Pakistan 79 Examination 9

10 Syllabus 1011 Fee Structure 1112 Contact us 12

CONTENTS

Institute of Certified Public Accountants of Pakistan (ICPAP)

www.icpap.com.pk

International Partners


The Following are the international institutions who recognizes ICPAP’s

qualificationSR. COURSE PROFESSIONAL BODY

1 ACPA Ireland Institute of Certified Public Accountants of Ireland

2 ACPA UK Association of Certified Public Accountants, UK.

3 CPFA Institute of Certified Forensic Accountants, Delaware, USA.

4 CFC Institute of Financial Consultants, Canada.

5 CIAT Association of Accounting Technicians, Canada.

6 ACCEA Association of Certified Corporate Accountants, USA.

7 ACIS Institute of Corporate Secretaries of Pakistan

8 ACMA Chartered Institute of Management Accountants (CIMA), UK

9 ACPA Association of Certified Project Accountants USA

10 ACT Chartered Institute of Corporate Treasurers, USA

11 ACFM Chartered Institute of Professional Financial Managers, USA

12 LIFA International Research Association, UK

13 APA Institute of Professional Accountants (IPA) UK

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Vision


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

MissionTo enhance the value ad distinctiveness 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.

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What is a Certified Public Accountant?


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

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

The member’s list of CPA include individuals holding top management positions, and those aspiring to become the leaders of the next decade, in the field of 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.

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What Does A CPA Do?


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Today, the role of CPA is the most demanding in the Pakistan economic community in general and in the world in particular. 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 apply their skills in Accounting, Auditing, Corporate Laws, Tax Laws, Personal Financial Planning, Management Policy, Management Information System, Computer Operations and other areas in Business, Industry, Government and Education.



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The Institute of Certified Public Accountants of Pakistan (ICPAP) was established as a non-profit organization under license of the Federal Government of Pakistan granted by Registrar Joint Stock Companies under Societies Registration Act of XXI of 1860 in June 1992 with the objective of imparting world class training in Accounting, Finance, Auditing, Management, Corporate and Tax Laws to students, working executives and professionals in Pakistan. The Institute of Certified Public Accountants of Pakistan (ICPAP) launched the Certified Public Accountant (CPA) Program in 1994 with a state of the art course design and curriculum. Over the years, the Certified Public Accountant (CPA) Program received overwhelming response from a wide cross section of students, professional and working executives. Currently there are 700 CPAs who successfully completed the CPA Program of ICPAP and received the CPA membership. Today the ICPAP is the leading voice of corporate accountants and financial executives. Members consist of professionals such as chief financial officers, chief executive officers, financial controllers and others in the field of corporate accounting and financial management.

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 comprising 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 of practitioners and distinguished academicians and other leading educational institutions. The ICPAP is accredited with a team of qualified and experienced professional staff and faculty members.

Objects of The Institute


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The Principle Objects of the Institute are:- To advance the theory and practice of accountancy

in its all aspects. To recruit, educate, train and assess by means of

examination or otherwise a body of members skilled in these areas.

To preserve at all times the professional

independence of accountants in whatever capacities they may be serving.

To maintain high standards of practice and

professional conduct by all its members. To do all such things as may advance the profession of accountancy in relation to public practice, industry, commerce, education and the public service

The Role of CPA in Pakistan


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Businesses today have diversified so much and are complex as they are challenging. Highly qualified business professional are needed to provide you with sound accounting and financial advice and assistance.

CPAs play a critical role in providing the services and expertise needed to ensure business stay ahead of current trends in the competitive commercial world, whatever locally and internationally. CPAs uphold the motto “Service With Technical Excellence” in:-Public PracticeThe practice side of the profession is undertaken by individuals or groups of individuals in partnership, auditing, analyzing the accounts, advising on information and financial structure and systems and agreeing taxation liabilities with Inland Revenue Department are major functions of most practicing firms of CPAs.

The services provided by practicing firms of CPAs, however, are more extensive. Today, CPAs in public practice are expected to provide advices on corporate structure and finance. In fact they act as advisers on financial control procedures and to undertake financial advisory, liquidation and company reconstruction work. CPAs with their broad knowledge of taxation also advise on the taxation implications of business and projected investment decisions.

Information Technology


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With the advent of the age of Information Technology, companies of all sizes are increasingly reliant on computers. It is to their accountants that management very often seek their advice on the use of computers for information management purposes.

Financial ServicesIn the face of growing complexity, change and competition, businessmen need expert financial advice. Financial services have therefore, become a major growth areas, and is also one in which many CPAs are serving.

The need for financial services is reflected in the greater demand for the specialization services of merchant banks and other similar financial services organizations. Clients of such services are advised on the merits of particular courses of action; on ways & means to raise finance on the best terms and on the optimum utilization of their existing assets. CPAs advice with their unique training and also expertise in financial accounting and analysis are particularly sought by financial institutions and are highly demanded in the financial services sector.

Management Consultancy


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With their wide experience in finance and information systems and their training in the areas of analytical techniques, CPAs act as specialists in firms of management consultants. In fact, many firms of practicing CPAs today operate their own management consultancy divisions. These management consultants have undertaken assignments to provide specialist’s advice on such as business strategy, financial management, personnel administration, information technology, production planning, systems and financial control.Public Sector ServicesThe expansion in the responsibilities and financial commitments of government departments and public sector entities in the recent years has led to the growth in the number of appointments for qualified accountants. The increasing interest in the public sector in the area of financial management and control provides great opportunities for CPAs, undertaking appointments such as treasury accountants, finance officers, tax officers of government auditors.

Industry & Commerce


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Faced with the competitive and volatile business conditions of the present time, modern industrial and commercial organizations are obliged to adopt new methods, skills and technology to maintain a competitive edge. To such organizations, the CPAs with their thorough knowledge and extensive exposure in financial affairs and business methods are invaluable assets. In industry or commerce & trade, CPAs occupy positions as financial controllers, management accountants, company secretaries or internal auditors.

With a qualification which offers great career mobility, CPAs also branch out from the financial sphere into other fields within an organization. Their broad accountancy training enables CPAs to fill appointments in general management, production, sales and marketing .

Membership of the Institute


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The Institute confers professional membership upon persons who fulfill the prescribed conditions as to education qualifications and experience in management. On admission, Associate and Fellow Members are entitled to use the designatory letters of ACPA, FCPA respectively. Membership of the Institute carries high academic and professional status for those who qualify its examinations and admitted as members on fulfillment of the prescribed conditions.

Examination of the Institute


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Examinations are held twice a year, i.e. June and December of every year.

Admission CriteriaThe candidates who hold a bachelor degree (14 years of education) in any of the disciplines i.e. B.Com, B.A, BBA, BSc, are eligible to apply in CPA program. The admissions are taken through out the year as CPA is a distance learning program. The registered candidates are provided with monthly news letters, assignments, past papers and course material during their semester. The exams are conducted twice a year in June and in December of every year in all major cities of Pakistan and different cities of Middle East Countries. For further detail, a copy of prospectus may be ordered by sending a demand draft/pay order for Rs.600/- in favour of ICPAP at the liaison office of the institute or visit our website at www.icpap.com.pk.

Syllabus of Examination


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Course Code Course NameModule-1 (FUNDAMENTALS)

S-101 Business English and Communication

S-102 Economic Analysis & Business Environment

S-103 Quantitative Methods and Technics

Module-2 (KNOWLEDGE)K-201 Financial Accounting

K-202 Cost and Management Accounting

K-203 Financial ManagementModule-3 (ESSENTIALS)E-301 Mercantile Law E-302 Audit and Assurance

E-303 Information Technology Management, Audit & Control

Module-4 (SKILLS)S-401 Taxation Laws

S-402 Business Analysis and Decision Making

S-403 Financial and Corporate Reporting

Module-5 (PROFESSIONAL)P-501 Corporate Law and Governance

P-502 Advanced Performance Management

P-503 Advanced Management Accounting

Course Code Course Name

Module-6 (SPECIALIZATION)SP-601 Advanced Taxation SP-602 Advanced Auditing and Assurance SP-603 Advanced Financial Management

ORSP-611 Forensic AccountingSP-612 Fraud Investigation and Audit

SP-613 Anti Money Laundering Measures and Business Ethics

OR

SP-621 Capital Market and Financial Planning

SP-622 Advanced Risk Management

SP-623 Retail and Consumer Banking Operations

OR

SP-631 Human Resource Accounting and Auditing

SP-632 Human Resource Management

SP-633 Human Resource Planning and Development

ICPAP COURSES

CERTIFICATE IN PUBLIC

ACCOUNTINGCert.PA

KNOWLEDGE• Financial Accounting• Cost and Management

Accounting• Financial Management

FUNDAMENTALS• Business English and

Communication• Economic Analysis and

Business Environment• Quantitative Methods

and Techniques

Foundation Level

MOD

UlE-

2M

ODUl

E-1

POST GRADUATE DIPLOMA IN PUBLIC

ACCOUNTINGPGDPA

SKILLS • Taxation Laws• Business Analysis and

Decision Making• Financial and

Corporate Reporting

ESSENTIALS• Mercantile Law• Audit and Assurance• Information

Technology Management, Audit & Control






and Techniques

Operational Level

MOD

UlE-

4M

ODUl

E-3

MOD

UlE-

2M

ODUl

E-1

CERTIFIED PUBLIC ACCOUNTING

CPA

SPECIALIZATION • Advanced Taxation• Advanced Auditing

and Assurance• Advanced Financial

Management

PROFESSIONAL • Corporate Law and

Governance• Advanced

Performance Management

• Advanced Management Accounting

SKILLS • Taxation Laws• Business Analysis and

Decision Making• Financial and

Corporate Reporting

ESSENTIALS• Mercantile Law• Audit and Assurance• Information

Technology Management, Audit & Control






and TechniquesProfessional Level

MOD

UlE-

4M

ODUl

E-3

MOD

UlE-

2M

ODUl

E-1

MOD

UlE-

5M

ODUl

E-6


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Fee Structure


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Certificate in Public Accounting (Cert.PA)

Particulars No. of PapersPakistan

i Student

s

No. of Papers

Overseas Pakistani Students

Non-Pakistani Students

Rupees Rupees Rupees Rupees US $Registration Fee 19,500 21,500 200

21,500 200Total Registration Fee 19,500Module-1 1000 x 3 3,000 1500 x 3 4,500 90Module-2 1000 x 3 3,000 1500 x 3 4,500 90Total Exemption/ Examination Fee 6,000 9,000 180Certificate Fee 2,500 2,500 60

1,500 20Annual Subscription for Member 1,500Total 4,000 4,000 80G. Total 29,500 34,500 460

Post Graduate Diploma in Public Accounting (PGDPA)Particulars No. of

PapersPakistani Students

No. of Papers

Overseas Pakistani Students

Non Pakistani Students

Rupees Rupees Rupees Rupees US $Registration Fee 19,500 21,500 200Total Registration Fee 19,500 21,500 200Module-1 1000 x 3 3,000 1500 x 3 4,500 90Module-2 1000 x 3 3,000 1500 x 3 4,500 90Module-3 1000 x 3 3,000 1500 x 3 4,500 90Module-4 1000 x 3 3,000 1500 x 3 4,500 90Total Exemption/ Examination Fee 12,000 18,000 360

2,500 60Diploma Fee 2,500Annual Subscription for Member 1,500 1,500 20

4,000 80Total 4,000G. Total 35,500 43,500 640

Fee StructureCertified Public Accountant (CPA)

Particulars No. of Papers Pakistani

StudentsNo. of Papers

Overseas

Pakistani Students

Non-Pakistani Students

Rupees Rupees Rupees Rupees US $Registration Fee 19,500 21,500 200Total Registration Fee 19,500 21,500 200Module-1 1000 x 3 3,000 1500 x 3 4,500 90Module-2 1000 x 3 3,000 1500 x 3 4,500 90Module-3 1000 x 3 3,000 1500 x 3 4,500 90Module-4 1000 x 3 3,000 1500 x 3 4,500 90Module-5 1000 x 3 3,000 1500 x 3 4,500 90Module-6 1000 x 3 3,000 1500 x 6 4,500 90

Total Exemption/ Examination Fee 18,000

27,000 5402,500 60

1,500 20Membership Fee 2,500Annual Subscription for Member 1,500

4,000 80Total 4,00052,500 820G. Total 41,500


Exemptions OfferedSubject to the prescribed bye-laws, rules and regulations, exemptions are offered from Institute’s examinations. The details exemptions can be viewed from our web: www.icpap.com.pk (Exemption Criteria Rules).

Life MembershipLife Membership may be granted to the associate/ fellow members of the institute upon payment of Rs.15,000/- as Life Membership fee. Life members are not required to pay their annual subscription of Rs.1,500/-.

*Note:- The fee once paid is not refundable

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http://www.icpap.com.pk/

Worldwide Regional Coordinators


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UNITED ARAB EMIRATESABU-DHABI DUBAI

Mr. Shafiq-Ur-Rehman Syed Imran Hasnain JefferyRegional Coordinator Regional Coordinator

Abu-Dhabi, United Arab Emirates Dubai, Ajman, United Arab Emirates

Tel: Tel: +971-6-523-3510Mob:+971-50-596-8001 Mob: +971-50-2213250Email: [email protected] Email: [email protected]

SHARJAH

Mr. Kashif Ahmad Mr. Muhammad Kamran Suleman

Regional Coordinator Additional Regional CoordinatorSharjah-UAE Sharjah-UAETel: +971-4-2205166 Tel: +971-6-5732742Mob: +971-50-2564582 Mob+971-50-5192007Email:[email protected] Email: [email protected]

QATARDOHA

Mr. Rizwan Asghar Mr. Hassan JameelRegional Coordinator Additional Regional CoordinatorDoha-Qatar Doha-Qatar.Tel:+974 611 5376 Tel:+974-6-619-0315Mob: Mob:Email: [email protected] Email: [email protected]

CANADA AUSTRALIA & EAST TIMOR Mr. Muhammad Imran Mr. Aziz- ul-Haq

Regional CoordinatorRegional Coordinator ETT Group CFO 70 Belfield Road, Unit No 11, C/o Transglobal Marketing PtyRexdale ON, Maw 1G3, Canada . NT Ltd. GPO Box # 3405Tel: +1-416-244-3933 Darwin NT 0801 AustraliaMob: +1-416-779-6460 Mob: +670-732-6241Email: [email protected] Email: [email protected]

mailto:[email protected]







Worldwide Regional Coordinators

CAMBODIA PHNOM PENH

Mr. Shafquat Hussain Prof. Dr. Yean RithyRegional Coordinator Additional Regional CoordinatorPhnom Penh Phnom PenhKingdom Of Cambodia Kingdom Of CambodiaTel: +855 13 240 340 Tel: +855-16-278-777Mob: Mob: +855-12-703-888Email: [email protected] Email: [email protected]

SCOTLAND BAGHDAD – IRAQ & BAGRAM – AFGHANISTAN Mr. Thappuwarige Vishwajith Mr. Adnan Khan Yousaf Zai

Regional CoordinatorRegional CoordinatorBagram-Afghanistan & Baghdad-IRAQScotland, UKTel: +93-796-020-174Tel: +126-873-24207Mobile: +93-783-207-131Mob:

[email protected]

Email: [email protected] KSA KABUL – AFGHANISTAN

Mr. Tahir Siddique Mr. Arif MuhammadRegional Coordinator Regional CoordinatorRiyadh, Saudi Arabia. Kabul-AfghanistanTel: +966 53 4300270 Tel: +93-75-2021-974Mob:+966 50 8092831 Mob: +93-786-227-004

Email: [email protected]: [email protected]


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JEDDAH KSA AL-RIYADH KSADr. Farooq Kamal Mr. Mohammad Ashraf Bajwa

Regional CoordinatorRegional Coordinator Riyadh, Saudi Arabia.Jeddah, Saudi Arabia.Tel: +966-1-473-5760Tel: +966-2-6171-555Mob:+966-506-155-017Mob: +966-503-667-423

Email: [email protected] Email: [email protected] KINGDOM

Muhammad AfzalRegional Coordinator195 Grafton Rd., Dagenham, Essex,RM8 3QA, UKTel: +44-208-123-9526Fax: +44-871-528-9234Email: [email protected]












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LAHORE KARACHI

Mr. Umar Hayat Mr. Irfan Ahmad ShujrahRegional Director Regional CoordinatorLahore-Pakistan Karachi-PakistanTel: +92-42-3578-3911 Tel: +92-21-7700-548 Mob:+92 333 452 5988 Mob:+92-345-3625001 Email: [email protected] Email: [email protected]

SARGODHA/JHANG HYDERABAD, KHAIRPUR MIR's, & INTERIOR SINDH

Mr. Muhammad Naveed Zafar Mr. Waqas AliRegional Coordinator Regional CoordinatorSargodha/Jhang-Pakistan Hyderabad-PakistanTel: Tel: Mob :+92 Mob:+92-345-2091-970Email: [email protected]

Email: [email protected]

D.G. KHAN MULTANMr. Muhammad Umar Khan Mr. Amir NawazRegional Coordinator Regional CoordinatorDera Ghazi Khan-Pakistan Multan-PakistanCell: +92-333-6208262 Tel:+92-312-730-4050Cell: +92-333-982220 Mob: +92-312-730-4050Email: [email protected] Email:

[email protected] BAHALWALPUR

Mr. Jahangir Khan Mr. Javaid Iqbal ChRegional Coordinator Regional CoordinatorQuetta-Pakistan Bahawalpur-PakistanTel: Tel: +92Mob: +92-300-3804378 Mob: +92-300-878-0492Email: [email protected] [email protected]

MARDAN ABBOTTABADMr. Adnan Khan Yousafzai Mr.Muhammad Anees KhanRegional Coordinator Regional CoordinatorMardan - Pakistan Abbotabad - Pakistancell: +92-333-538-1145 Tel:+92-992-334750 Email: [email protected] Cell:+92-300-9110309

[email protected] Email: [email protected]

Nationwide Regional Coordinators

tel:+92-42-3578-3911




Institute of Certified Public Accountants of PakistanPlot 13, Street 42, Sector F-8/1, Islamabad-Pakistan.Tel: +92-51-285 3018Fax: +92-51-285 3012Email: [email protected] Web: www.icpap.com.pk

www.facebook.com/icpap

@ICPAPCPA-PAKISTAN


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