IFAC Members … Institute of Chartered Accountants of Pakistan (ICAP) (Urdu: ادارہَ محاسبانِ منشوری ، پاکستان ‎) is a professional accountancy body in Pakistan.As of December 2018, it has 9989 members working in and outside Pakistan. Under the Chartered Accountants Ordinance of 1961, ICAP is responsible for the quality assurance reviews of audit firms in Pakistan. Out of total members, about 20% of members are serving abroad which shows the contribution of the Institute towards global economic development. Pakistan. Members of IFAC work for promoting & developing best values & practices. IFAC is a global organisation, currently comprised of 173 members and associates in 129 countries and jurisdictions. CAPA Pakistan is included in the IFAD GAAP Convergence Studies; National professional organisation websites: Institute of Cost and Management Accountants of Pakistan; The Institute of Chartered Accountants of Pakistan; Response to IFAC Member Body Survey on Standard Setting and Regulation; World Bank ROSC Accounting and Auditing Report Admission Process: IFAC staff guide candidate PAOs in the admission process with the advice and oversight of the IFAC Compliance Advisory Panel (CAP) . The institute was established on July 1, 1961 to regulate the profession of accountancy in Pakistan. Currently, the Institute has over 5,000 members in Pakistan and abroad. IFAC's role is: to establish and promote adherence to high quality international standards IFAC Member organizations are professional accountancy organizations (PAOs) recognised by law or general consensus within their countries as substantial national organizations, representing almost 3 million accountants in public practice, education, government service, industry, and commerce. He is a Fellow of ICAEW and a member of the ICAEW Audit Faculty. 2017). Describe Other Organizations ... International Federation of Accountants (IFAC) since: 1974. Together with other affiliated organizations, IFAC and ICAP promote competence & high quality of exposure for chartered accountants. Pakistan Institute of Public Finance Accountants (PIPFA) is a FULL Member of International Federation of Accountants (IFAC), the world organization for the accounting profession. 2; Another IFAC member body 3 Universities 4 Approved training institutions 5 Government bodies 6 Other organizations 2.3.2. Fazal qualified as an ICAEW Chartered Accountant from Jeffreys Henry Chartered Accountants, London (a member firm of JHI) in 1984. IFAC member body in Pakistan, Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management of Pakistan (ICMAP). Biography . 31 Criteria for Becoming a Member The IFAC Board has the authority and responsibility for determining the criteria and procedures by which organizations are admitted as Members of IFAC. ICAP established a Quality Assurance Board (QAB) in 2005 to oversee the Quality Control Review (QCR) Framework for all firms conducting audits of financial statements of listed companies; public interest companies (Non-listed); and large-sized companies. Member of IFAC full member body (on reciprocal basis) as approved by PIPFA Board. Pakistan’s premier accountancy bodies: Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountants of Pakistan (ICMAP) are the members of IFAC. 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