The
Pakistani government adopted "to regulate the profession of accounting
in the country Court in 1932 and the Companies Act 1913. In 1950, the
Pakistan government reframed certificate rules" Certificate rules
auditor to meet with the necessary changes in the prevailing needs of
the profession. Under these rules the profession in Pakistan included practicing and non-practicing registered accountants. The registered accountants made to known to safeguard and promote the
interests of accountants a private entity as Pakistan Institute of
Accountants (PIA).
The Pakistan Institute of Accountants held with the idea of creating an independent body. In June 1959, the government has a department for accounting with the processing of accounting as chief executive. An
advisory body to the Council of the accounting rules under the
Certificates called 1950 the auditor has determined that a branch in
Pakistan of the Institute of Auditors recommended, which was adopted. The Auditor Regulation In 1961 the approval of the President of
Pakistan on 3 March 1961, which was published in the Extraordinary
Gazette of Pakistan on 10 March 1961stAccording
to the Institute of Chartered Accountants of Pakistan (ICAP) of
accounting in Pakistan was established with the primary objective on 1
July 1961 regulation of the profession. It was due to the vision and foresight of our predecessors that we are
the first regulatory body for the development and regulation of the
profession in the country today.ICAP currently has indeed a long way from the small group of members come over five thousand professionals. Today, our professionals are recognized and worldwide technical
expertise and for their compliance with the ethics and integrity are
respected.The
reputation and standing, the ICAP today commands shown due to the
determination, courage and loyalty of the members and the leadership. The
Institute has been considered and founded the profession generally
regulate, in particular the professional audit and is responsible for
mediating Chartered Accountancy qualification in the country. ICAP provides great service to the nation through the promotion and
careers in the management of its robust training and testing system over
the years to produce top-class care professionals.In
addition, ICAP plays its role in the regulatory framework in Pakistan
to strengthen important policy institutions and authorities, including
the State Bank of Pakistan are working in collaboration, the Securities
and Exchange Commission of Pakistan, the Federal Board of Revenue and
other government departments.
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