About ICAP

The Institute of Chartered Accountants of Pakistan was established under The Chartered Accountants Ordinance, 1961 as a self regulatory body and it operates under the CA Bye Laws 1983.

ICAP is an examining body for the candidates aspiring to become Chartered Accountants. It regulates the accounting and auditing profession in Pakistan, which inter alia include:

Standard setting
Quality Control
Investigation

Affairs of ICAP are governed by a Council comprising of 19 members. 15 members of the Council are elected by ICAP members and 4 council members are nominated by the Federal Government. Current nominees of the Government are Chairman SECP, Deputy Auditor General of Pakistan, Secretary Planning and Development (formerly Chairman FBR) and Secretary Finance.

Apart from its core functions, ICAP contributes in promoting corporate governance, formulating economic policies of Federal and Provincial Governments including federal budget making with specific focus on taxation.

ICAP is also a prominent participant of professional activities and development at international level. Presently, ICAP nominees are working in the following capacities on various international bodies:

Member of the IFAC Board
Member of the International Auditing and Assurance Standards Board
Member of the IFAC Developing Nations Committee
Member of the IFAC Professional Accountants in Business Committee
Chairman of International Standards of Accounting & Reporting of UNCTAD
Member of the Board of Confederation of Asia and Pacific Accountants
Member of the Board of South Asian Federation of Accountants
Member of Asian-Oceanian Standard-Setters Group