Karachi: The role of accountants has gradually evolved as business advisors from stereotypical bookkeepers, emerging as key position holders in private and public sectors corporations towards progress and growth.
This was stated by Saqib Masood, President Institute of Chartered Accountants of Pakistan (ICAP) in an exclusive interview to The News Tribe.
“In the history of the country, the members of ICAP have contributed to their key role for reforming and building of institutions as number of senior members is still serving in the boards of leading public and private sector companies,” he said.
Professional accountants have a critical role in accelerating the progress of our country towards economic stability. “We are proud of that we have done a successful job for our country.”
An accountant who works for private organizations also delivers a lot in the economy with their sound knowledge, professional skills and ethical responsibilities. If an accountant performs his duties with honesty, he serves the nation in various ways because he is generating taxes for the country, rightful documentation of the economy and provides an outlook of sector and company’s performance level that helps the government.
ICAP will continue to support and facilitate not only its members but also the government, the regulators and the business community in this respect. The Institute, being the custodian of the accounting profession in Pakistan, has gradually evolved processes to ensure transparency, accountability and good governance within the profession.
Simultaneously, the Institute has firmly established itself as a premier institution which produces qualified accountants, who are not only in high demand within the country but have also made a mark for themselves outside Pakistan.
This journey of ours is a test of endurance and being fifty years old is just another milestone. We have a greater responsibility on our shoulders now as the journey beyond the golden jubilee is expected to be more challenging. There is no time for complacency in a dynamic environment where information is being exchanged in micro seconds; both the members and the Institute must appreciate the challenges lying ahead and effectively plan to address them.
The institute was established under The Chartered Accountants Ordinance in July, 1961 under The Chartered Accountants Ordinance, 1961. Since then it has come a long way from a very small community of Registered Accountants to what it is today – a professional body of 5,500 members.
This year on 1st July ICAP has completed its 50th year of establishment. For the golden jubilee celebrations we marked the opening conference in Islamabad in March, 2011. For the upcoming golden jubilee conference in July, delegates have been invited from India, Bangladesh, Sri Lanka and Nepal. Initially speakers from the US and UK were also invited and they showed enthusiasm and interest but due to the prevailing law and order situation of our country it’s difficult to convince them. However, India has shown keen interest with the participation of 50-60 delegates.
Our members working outside Pakistan will also be participating in the mega event. The most interesting thing is our theme which is “Accountants and social responsibility”. We believe every professional whether doctor or engineer have an obligation
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