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Masoud Naqvi, Senior Partner KPMG Taseer Hadi & CO Chartered Accountants 24 November 2007 Masoud Naqvi, Senior Partner KPMG Taseer Hadi & CO Chartered.

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Presentation on theme: "Masoud Naqvi, Senior Partner KPMG Taseer Hadi & CO Chartered Accountants 24 November 2007 Masoud Naqvi, Senior Partner KPMG Taseer Hadi & CO Chartered."— Presentation transcript:

1 Masoud Naqvi, Senior Partner KPMG Taseer Hadi & CO Chartered Accountants 24 November 2007 Masoud Naqvi, Senior Partner KPMG Taseer Hadi & CO Chartered Accountants 24 November 2007 GLOBAL SERVICE/ INDUSTRY AUDIT / TAX / ADVISORY / LINE OF BUSINESS Accountancy as a Profession

2 2 ACCOUNTANCY AS A PROFESSION Chartered Accountant ( ACA and FCA ) Certified Accountant ( ACCA, CPA ) Cost and Management Accountant (ACMA and FCMA ) Masters in Accounts

3 3 ICAP is a monitoring and regulatory body Education & Training Education & Training Examinations Examinations Membership Membership INSTITUTE OF CHARTERED ACCOUNTANTS OF PAKISTAN

4 4 WHAT IS CHARTERED ACCOUNTANCY

5 5 A Financial market qualification in Accounting Study of how businesses track their income and assets over time

6 6 INTERNATIONAL RECOGNITION ICAPs scheme of study is fully compliant with the Rules & Regulations of: International Accounting Standards International Standards of Auditing International Educational Standards(IES) of International Federation of Accountants(IFAC) ICAP is a member of: International Federation of Accountants (IFAC), International Accounting Standards Board (IASB), Confederation of a Asian & Pacific Accountants (CAPA) South Asian Federation of Accountants (SAFA).

7 7 PAKISTANI CHARTERED ACCOUNTANTS

8 8

9 9 Rapid Growth Rapid Growth Business qualification Business qualification Highly rewarding Highly rewarding Top management Top management Private practice Private practice BECOMING A CHARTERED ACCOUNTANT CAREER PROSPECTS BECOMING A CHARTERED ACCOUNTANT CAREER PROSPECTS

10 10

11 11 The ICAP Education Scheme currently in operation is Modular in nature comprising of six modules known as: Module A and B (Foundation) Module C and D (Intermediate) Module E and F (Final). PROFESSIONAL COURSE

12 12 FOUNDATION EXAMINATION Module - A MARKS Paper A 1Functional English100 Paper A 2Quantitative Methods100 Paper A 3Introduction to Economics and Finance100 Module - B Paper B 4Introduction to Financial Accounting100 Paper B 5Mercantile Law100 Paper B 6Introduction to Information Technology100

13 13 INTERMEDIATE EXAMINATION Module - C MARKS Paper C 7Financial Accounting 100 Paper C 8Taxation 100 Paper C 9Business Com. & Behavioural Studies 100 Module - D Paper D 10Company Law 100 Paper D 11Auditing 100 Paper D 12Cost Accounting 100 Paper D 13Information Technology 100

14 14 FINAL EXAMINATIONS Module – E Marks Paper E 14 IT Management, Audit and Control 100 Paper E 15 Ad. Accounting & Financial Reporting 100 Paper E 16 Corporate Laws 100 Paper E 17 Business Management 100 Module - F Paper F 18 Management Accounting 100 Paper F 19 Business Finance Decisions 100 Paper F 20 Advanced Taxation 100 Paper F 21 Advanced Auditing 100

15 15 PROSPECTIVE FOUNDATION COURSE (PFC) SCHEME Bachelor Degree Holders Study Privately for Intermediate Examinations CHARTERED ACCOUNTANT Training for 3 ½ yrs + Final Exams Appear in PPT * Min Second Division PPT Exempt * For First Division Holders Financial help Financial help

16 16 Chartered Accountant Training for 5 yrs + Modules A-F Bachelor Degree Holders 2-3 years Graduates Pass PPT/ PPT Exempt DIRECT GRADUATE SCHEME Bachelor Degree Holders 4 years Graduates Pass PPT/ PPT Exempt Training for 4 yrs + Modules A-F

17 17 POST GRADUATE TRAINEE SCHEME Masters Degree Holders (Min Second Div) (Min Second Div) PPT Exempt 4 yrs Training + remaining papers not exempted Chartered Accountant

18 18 HSC with minimum Grade B (60% Mark) HSC with minimum Grade B (60% Mark) A Levels with minimum two Cs A Levels with minimum two Cs Bachelor Degree holders (1st division) Bachelor Degree holders (1st division) Post Graduates ( minimum 2nd division) Post Graduates ( minimum 2nd division) EXEMPTIONS FROM PPT EXEMPTIONS FROM PPT

19 19 ELIGIBILITY FOR PPT ELIGIBILITY FOR PPT Minimum 45% marks in HSC Minimum two passes in A Levels Graduates with 2 nd Division or less Post Graduates with less than 2 nd Division *Candidates are allowed to appear in PPT on awaiting result basis.

20 20 OPPORTUNITIES FOR QUALITY STUDENTS 2-3 years Graduates : Exemptions from papers A1, A2 and B3 Exemptions from papers A1, A2 and B3 Obtain 70% marks overall Obtain 70% marks overall Minimum 60% marks in relevant paper (s) Minimum 60% marks in relevant paper (s) Obtain 75% in relevant subjects of Module A Obtain 75% in relevant subjects of Module A paper ( s) paper ( s) * Subject to at least 70% match of course content

21 21 OPPORTUNITIES FOR QUALITY STUDENTS 4 years Graduates / Post Graduates 4 years Graduates / Post Graduates Candidates with minimum of 70% marks in relevant papers will be granted exemption for that specific paper(s) subject to 70% match of course contents of relevant paper(s) Candidates with minimum of 70% marks in relevant papers will be granted exemption for that specific paper(s) subject to 70% match of course contents of relevant paper(s)

22 22 Permanent Credit retention 50% Pass Percentage UPDATES UPDATES

23 23 The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. © 2006 KPMG Taseer Hadi & Co., a partnership firm registered in Pakistan and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in Pakistan. The KPMG logo and name are trademarks of KPMG International. PRESENTER: SYED MASOUD ALI NAQVI KPMG Taseer Hadi & Co


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