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

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

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

WHAT IS CHARTERED ACCOUNTANCY

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

INTERNATIONAL RECOGNITION 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). ICAP’s 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)

PAKISTANI CHARTERED ACCOUNTANTS

Y

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

HOW

PROFESSIONAL COURSE 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).

FOUNDATION EXAMINATION Module - A MARKS Paper A 1 Functional English 100 Paper A 2 Quantitative Methods 100 Paper A 3 Introduction to Economics and Finance 100 Module - B Paper B 4 Introduction to Financial Accounting 100 Paper B 5 Mercantile Law 100 Paper B 6 Introduction to Information Technology 100

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

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

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

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

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

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

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

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

OPPORTUNITIES FOR QUALITY STUDENTS 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)

Permanent Credit retention 50% Pass Percentage UPDATES Permanent Credit retention 50% Pass Percentage

PRESENTER: SYED MASOUD ALI NAQVI KPMG Taseer Hadi & Co. +92-21 568 1054 mnaqvi@kpmg.com www.kpmg.com. 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.