THE INSTITUTE OF CHARTERED ACCOUNTANTS OF PAKISTAN

Welcome to the Institute of Chartered Accountants of Pakistan

The Institute of Chartered Accountants of Pakistan is a professional body of Chartered Accountants in Pakistan, and represents accountants employed in public practice, business and industry, and the public and private sectors.

At ICAP we realize that education, professional values and ethics are critical, and hold together the forces that continue to pull us towards globalization, yet persuade us to retain our distinctive identity.

QCR Program is a key part of the Institute’s regulatory framework, established to develop and maintain compliance of professional standards amongst the firms engaged in the audit of limited companies particularly listed entities, as the Code of Corporate Governance requires that a satisfactory QCR rating is mandatory for CA firms to conduct audit of listed companies.

The primary objective of the QCR process continues to be monitoring the compliance by audit firms with appropriate levels of professional standards in the performance of the audit function. The secondary objective is to provide guidance to practitioners to assist them to improve their standards.

The Institute is committed to regulate the education, training and examination of its students in order to ensure that a newly qualified Chartered Accountant can continue to be confidently regarded as: * Having a sound grounding in the major subject of accountancy, business, finance and management which can be further developed by continuing education and which can be drawn on for a professional lifetime; * Being fully equipped with the professional attitudes expected of a member of the Institute; * Being ready to undertake work, demanding qualities and skills expected of a chartered accountant and being able, with suitable induction, speedily to acquire any additional accountancy skills required for particular task in public practice, industry, commerce or else where. To achieve the above objectives the Institute continues to review and update its prescribed syllabus and education and training schemes. The present syllabus was recently updated and restructured to meet the challenges of the fast changing global and national economic scenarios. From 1994 a Pre-entry Proficiency Test (PPT) was introduced to determine the suitability of candidates before being registered as Trainee Students. PPT is mandatory for all entrants except those who are exempt from PPT