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November 21, 2014

Pakistani profession in talks with potential American and global partners

By Vincent Huck

The Institute of Chartered Accountants of Pakistan (ICAP) met several institutes during the World Congress of Accountant in Rome (WCOA 2014), including the American Institute of Certified Public Accountants (AICPA), The Accountant has learnt.

In conversation with The Accountant, the ICAP said the institute is working on its global recognition.

In 2012, ICAP signed a Memorandum of Understanding (MOU) on reciprocal membership arrangements with the Canadian Institute of Chartered Accountants (CICA, now CPA Canada) and is now looking at forming more partnerships with other organisations.

ICAP chief operating officer Khalid Rahman told TA: "One of our major focuses is that we want to be a globally recognised body, we have arrangements with the institute in Canada and we are building up relations with other bodies."

It is also believed that ICAP will sign a MoU with CIPFA during the 2014 Public Financial Management Conference to be held in Islamabad next Monday. Both CIPFA chairman Ian Ball and CIPFA chief executive Rob Whiteman will be attending the conference as speakers.

Contacted by The Accountant, the AICPA and CIPFA weren’t available for comment. At the time of publication none of the other institutes met by ICAP could be confirmed.

Amendement 04/12/2014: Following publication, TA received a reply from the AICPA. However the institute did not confirmed if it had met ICAP and said it would not make any further comment at this stage, an AICPA spokesperson said: "Organizations meet with us all the time and as a general policy those conversations are kept confidential. Agreements with other organizations are announced if and when they happen."

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