Chartered accountants: Pakistani, Canadian bodies sign MoU

KARACHI: The Canadian Institute of Chartered Accountants (CICA) has signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of Pakistan (ICAP). The MoU specifies criteria through which members of one professional body can become eligible for membership of the other. The agreement recognises the similarity of professional accounting qualifications in both countries and will reduce eligibility requirements for Pakistani chartered accountants. Under the MoU, an ICAP member holding a recognised university degree can become a Canadian CA by passing the Canadian Uniform Evaluation tests, in addition to meeting experience requisites. On the other hand, CICA members will be able to join ICAP by passing the Advanced Taxation and Corporate Law ICAP examination.

Published in The Express Tribune, May 10^th, 2012.