The Institute of Chartered Accountants of Pakistan (ICAP) held its 44th Annual General Meeting on December 24 here at ICAP House. ICAP President, Syed Mohammad Shabbar Zaidi, FCA, briefed the members of the institute about the challenges facing the profession, and informed them of the strategies adopted by the Council to face those challenges.
He said the building of public confidence and trust was imperative and the institute's strategy in this regard was to adhere to international best practices, while taking cognisance of local environment.
While talking about the role of the Institute in framing economic, financial and fiscal policies, he said the ICAP would play a proactive role. He said the small and medium sized enterprises were backbone of our economy and it was necessary that those entities were taken along in economic growth of the country. "Hence the Institute is making all out efforts to help them attain international standards".
He said the Institute was initiating an extensive education program for all stakeholders to properly identify the value-addition of businesses arising from effective audits and was also encouraging members to gear up for export of services.
He acknowledged the support and co-operation of SECP Chairman Dr Tariq Hasan, CBR Chairman Abdullah Yousuf, National Tariff Commission Chairman Dr Faizullah Khilji and Arif Mansur of Ministry of Finance, and thanked them for their contributions in running the affairs of the Institute.