The Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Chartered Accountants in England and Wales (ICAEW) signed a Memorandum of Understanding in Karachi on August 30, 2007 in presence of the eminent members of ICAP and ICAEW.

As per the terms of MoU, ICAEW and the ICAP will cooperate with each other to enable ICAEW to offer its advanced level tuition in Pakistan for progression of ICAP members to the ICAEW\'s ACA qualification. In addition, it will help both the Institutes to strengthen international accounting ties, exchange information and experience and provide assistance to each other in the accountancy profession.

Under the banner of the MoU, ICAP members are allowed to appear in the Advance Level Examinations of ICAEW in Pakistan, the members would also be expected to complete a training period of 2 years with Training Organizations approved (ATOs) by ICAEW in Pakistan. It has also been specified that ICAP members who have qualified in the year 2003 or earlier would be required to also appear in the Business Strategy Module in the Professional stage of the ICAEW examinations.

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