ICAP ,ICMAP,PIPFA: An introduction of professional accounting bodies

An Overview of Auditstudent.com

Audit student website is designed for commerce and finance students of Pakistan. There are quite a few accounting bodies in Pakistan but only three accounting bodies are accredited by IFAC.

These institutes are;

Admissions:

The admission section gives detailed and updated information about registration, admission, examination and exemptions .Find all the required information here.

Educational institutes and Regional offices:

The educational institutes are located country wide and students needs to go to these institutes to get the required knowledge and skills. The regional offices provides all the necessary information to students as well as members. Find all the institutes and regional office of your city at a single click from here.

Courses and Fees:

The courses and fees section gives detailed course outline and syllabus of all the subjects of ICAP, ICMAP and PIPFA. The fees section

Study Material:

Past Papers:

Online Quiz:

These online quiz(es) are free of cost and any body can attempt them as many times as they want. These quiz are firstly divided at institute level. After that these quiz are divided into stages. Quizzes are only available for those subjects which will be tested online.

Institute of Chartered Accountants of Pakistan

Assessment of Fundamental competencies:

Institute of Cost and Management Accountants of Pakistan

OPERATIONAL LEVEL

MANAGERIAL LEVEL

Pakistan Institute of Public Financial Accountants

Jobs, Membership & Audit Firms:

Conferences and Publications:

Institute of Chartered Accountants of Pakistan (ICAP)

The institute of Chartered Accountants of Pakistan was established on 01 July,1961.Its Head Office is in Karachi. It has regional and satellite offices in Lahore, Islamabad, Abbottabad, Mirpur, Sukkur, Hyderabad, Quetta, Peshawar, Gujranwala, Faisalabad, Multan. It has more than 8000 members around the world.

History of ICAP:-

YEAR 1950:

  • The Federal Ministry of Commerce inherited 106  qualified Accountants.
  • A new set of rules known as Auditors Certificates Rules, 1950 were published.
  • The title then  given to the members “Registered Accountant”.   

YEAR 1960:

  • The Institute came into existence on 01 July,1961

YEAR 1970:

  • In year 1977,Government granted a sum of Rs.300,000/- for this project.

YEAR 1980:

  • The IFAC president and the Executive Director visited Pakistan in November,1980.
  •  In 1984, a new regional body called the South Asian Federation of Accountants (SAFA) was formed.
  • In 1987, the institute celebrated its 25th anniversary.

YEAR 1990:

  • The decade of nineties is known as the ‘Era of Education.’ 

YEAR 2000:

  • A resolution was adopted  to evolve and recommend a Code of Good Corporate Governance.

YEAR 2011:

  • In 2011, the institute celebrated its 50th anniversary.

Institute of Cost and Management Accountants of Pakistan (ICMAP)

The Institute of Cost and Management Accountants of Pakistan (ICMAP) was established in 1951.It was granted statutory status in 1961. ICMA Jobs are of managerial level .All those who have qualified and became members ( which are 6000 and counting) are currently holding senior posts in the trade, commerce, industry in Pakistan as well as abroad.

Anyone who holds the intermediate or bachelors or master’s degree is eligible to take admission in ICMA certification. The duration of certificate completion will also depend on the academic last qualification held by the student. Student are also entitled for exemption from certain papers of certification depending on the previous academic records of the students.

You can find Online Lectures of various courses also on our site.

The institute offers three type of accounting education programs; Cost and Management Accounting Program, Diploma programs and Certification Programs.

ICMA certification primarily focuses on cost and Management accounting. Exams are held four times in a year. The certification is divided into three Tiers. Operational Level, Managerial Level and Strategic Level. These tiers are further divided into two levels. Papers are computer based as well as manual. The Difficulty level of these exams is relatively high as compared to PIPFA exams therefore many students of various professional accounting bodies use ICMA Past Papers.

ICMA Head office is situated in Karachi. Not only the head office, the institute currently has two institutes in Karachi. Besides Karachi ICMA has institutes in various metro political cities i.e. Lahore, Faisalabad, Islamabad, Peshawar, Quetta and Multan.

It is also IFAC accredited body which also increases creditability of institute and worth of its certification. With more than 15000 registered students, ICMA is one of the largest professional institute in Pakistan.

The members of the institute are eligible to conduct cost audit in specified industries to ascertain cost allocation and cost centers. The institute provides the Cost Audit Handbook in this regard.

Pakistan Institute of Public Financial Accountants(PIPFA)