The Association of Chartered Certified Accountants of UK (ACCA UK) and Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan) signed a Memorandum of Understanding (MoU) to enhance the existing academic recognition arrangements between the two accounting bodies.
This MoU shall facilitate students and members of ACCA and ICMA Pakistan to earn dual qualification and membership on a fast track basis. Students and members of ICMA Pakistan shall benefit from the global recognition of ACCA and access to international job market of professional accountants, whereas ACCA students and members in Pakistan will be able to develop skills which are more technically aligned with local corporate and tax legislation.
Apart from collaborating on research, policy matters and continuous professional development, the scope of the MoU also enables both the professional bodies to deliver value for their students and members by marketing Pakistan's professional accountants globally to enhance their employability specifically and projecting Pakistan as a hub for supply of such expertise to rest of the world.
Arif Masud Mirza, Regional Head of Policy MENASA stated, "This collaborative arrangement would be a substantive contribution by both ACCA and ICMA Pakistan in strengthening the accountancy infrastructure in Pakistan as well as identifying opportunities for members of both bodies to add value to the fast evolving accountancy profession." Zia-ul-Mustafa Awan, President ICMA Pakistan highlighted the importance of synergies between different accounting bodies which would help young finance professionals to enjoy rewarding careers and in turn helping businesses through financial leadership and performance.
Sajed Aslam, Head of ACCA Pakistan concluded the ceremony with these remarks, "ACCA Pakistan aims to develop capacity in the accounting profession and this cannot be achieved in isolation. By working with local and international accountancy bodies, we can make Pakistan a preferred destination for shared services and a centre of financial excellence in the region."-PR
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