Proposal for entrusting accounting education to SECP is already in the air. It may take some time before the government rules on the subject. The law, to be framed, would take its course and that too if it does. However, I propose incorporation of a provision in the draft companies' law on the following lines:
(1) "On the directive of the government, the authority may take over and proceed with actions in relation to an educational institution's function in the field of imparting education in accounting, prescribing curricula, holding examinations and declaring results of examination and to do all other acts in relation to education and training of the science of accounting, in collaboration with or otherwise, or in concert with any other body whether corporate or otherwise as per details provided under the rules."
(2). "In the event of a body or its functions so taken over, being fully or partially owned by a connected with a provincial government, details relating to its post-take over functioning may be worked out in consultation with the concerned provincial government."
(3) "The government may entrust the taken over body's management or other functions in this behalf to a body or persons it deems fit." Obviously, the above suggested provision is not for nationalisation purpose, it can be acted upon only in the event of a governmental nod to this effect, staying sterile in the interregnum. The law may seek power to prescribe course contents and imparting thereof.