FASTEST GROWING INTERNATIONAL ACCOUNTING QUALIFICATION A VALUE ADDITION IN EDUCATION
Oct 08 - 21, 2007
Association of Chartered Certified Accountants (ACCA) has introduced ACCA Qualification in Pakistan, which is considered as the fastest growing international accounting qualification.
Mr. Allen Blewitt, Chief Executive of ACCA highlighting the salient features of this newly introduced ACCA Qualification said that this new qualification is designed to provide the accounting knowledge, skills and professional values which will delivery finance professionals who are capable of building successful careers across al sectors, whether they are working in the public or private sector, practicing in accounting firms or pursuing a career in business.
However the designing was made after an extensive and detailed consultation process, which started back in November 2004. In excess of 17000 students and members took part in the member competences and student aspirations surveys, which formed the basis of the new qualification proposals.
Following this hectic research, ACCA consulted internationally with students, members, employers, tuition providers, joint scheme partners and regulators and received over 30, 000 responses to its various research initiatives.
In addition to responding to the needs of its stakeholders, ACCA has designed a qualification, which embeds the global account education standards set by the International Federation of accounts (IFAC). There is a strong focus on profession moves towards strengthened code of conduct, regulation and legislation with an increasing focus on professionalism and ethics in accounting. They will be examined at the highest level in the new ACCA Qualification, and will be a core element of students' practical experience requirements.
In order to qualify as an ACCA member any individual registering on the ACCA qualification will need to satisfy the following:
--14 exams (nine of which are eligible for exemption)
--Relevant practical experience, with a minimum of three years
--An online professional ethics module
While completion of the online professional ethics module will not be mandatory for existing students converting to the qualification, they will be encouraged to compete the module.
ACCA is said to be the largest international accountancy body with 296000 students and 115,000 members in 170 counties. It aims at offering first choice qualification to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. ACCA works to achieve and promote the highest professional, ethical and governance standards and advance the public interest. ACCA Pakistan supports around 1400 affiliates and members and 20,000 students who study CAT or ACCA at the ACCA learning partner institutions (34 colleges & universities in Pakistan).
HR & TRAINING: CRITICAL INGREDIENT FOR SOCIO-ECONOMIC STABILITY
EC TO PROVIDE RS 16.8 BILLION FOR HR DEVELOPMENT IN PAKISTAN
Pakistan and European Commission have signed a Euro 200 million (Rs 16.8 b) Memorandum of Understanding on the Multi-Annual Indicative Program for the period 2007-2010.
The focal area will be education and human resources development which is a critical ingredient for developing a well-trained work force and creating a moderate and stable Pakistan.
Actually the objective of the program is fighting poverty through rural development and natural resources management in North-West Frontier Province and Balochistan with a view to reducing regional disparities and promoting stability in Pakistan's sensitive provinces bordering Afghanistan EAD Secretary, M. Akram Malik, signed the MoU on behalf of the Government of Pakistan while Ambassador Jan de Kok, represented the European Commission.
Pakistan and the European Commission are committed to strengthening their relationship under this new Multi-Annual Indicative Program. In line with Pakistan's policy priorities, the key objective for 2007-2010 will be poverty reduction.
Other areas of assistance are trade development, democratization, human rights and anti-money laundering. Since the start of its cooperation with Pakistan in 1976, the European Commission has committed more than Euro 500 million (Rs. 42 billion) in grants to projects and programs.