TORONTO, May 7, 2012 /CNW/ - The Canadian Institute of Chartered
Accountants (CICA) and the Institute of Chartered Accountants of
Pakistan (ICAP) signed a Memorandum of Understanding (MOU) on
Reciprocal Membership Arrangements.
The MOU specifies the criteria by which members of one body are eligible
for membership in the other. It was signed by the CICA on behalf of
the provincial and territorial institutes/Ordre of chartered
accountants of Canada and the Institute of Chartered Accountants of
Bermuda, which has long been affiliated with the CICA.
"Our profession is known as a leader in international labour mobility
and in foreign credential recognition," said Kevin Dancey, president
and CEO, CICA. "It is important to help internationally trained
professionals earn their Canadian CA as this fosters mobility and helps
us attract the brightest and the best individuals."
The MOU recognizes that there is substantial equivalency in the core
knowledge component of the accounting education for CAs in both
countries and will reduce the admission requirements for qualified CAs
from Pakistan. Under the MOU:
An ICAP member who holds a recognized university degree will be eligible
to become a Canadian CA by passing the Canadian Uniform Evaluation
(UFE), which is offered annually in Canada. In addition, the candidate
must meet the profession's experience requirements.
Individuals with a Canadian CA designation will be eligible to become an
ICAP member by passing the ICAP's examinations in Advanced Taxation and
"This increased recognition of accounting education programs in Pakistan
is a true benefit for our members," said Rashid Rahman Mir, president, ICAP. "It is very encouraging to see our efforts being
acknowledged by the CICA. This is a great example of two accounting
bodies working together to provide windows of opportunity in today's
"The Canadian CA profession has considerable expertise in determining
substantial equivalency of foreign qualifications in a manner that is
fair, consistent, transparent and timely," noted Dancey.
Chartered Accountants (CAs) are Canada's most valued, internationally recognized profession of
leaders in senior management, advisory, financial, tax and assurance
roles. Through their integrity, expertise, and internationally
recognized qualification standards, Canada's 81,000 CAs sustain their
influence and leadership position both in Canada and globally. As
trusted business advisors to Canadian organizations of all sizes,
Canada's CAs foster confidence in Canadian business and contribute to
the health and sustainability of Canada's capital markets and economy.
The Canadian Institute of Chartered Accountants (CICA) represents
Canada's CA profession both nationally and internationally. The CICA is
a founding member of the International Federation of Accountants (IFAC)
and the Global Accounting Alliance (GAA).
SOURCE Canadian Institute of Chartered Accountants
For further information:
Tobin Lambie, Manager, Media