ICAP was awarded associate membership by CAW, making it the second professional body to be admitted to the organisation since its launch in February 2013.
Membership will provide chartered accountants in Pakistan with international recognition and give ICAP the opportunity to contribute to the further development of the profession. It will also open up access to events and networking opportunities for its members.
ICAP was established in 1961 and is the premier regulatory body for the development and regulation of the profession in Pakistan, with around 7,000 members.
The professional body’s admission to CAW recognises the importance of the qualification in Pakistan and demonstrates ICAP’s commitment to providing the highest professional and ethical standards.
ICAP president Hafiz Mohammad Yousaf said, “ICAP’s vision is to be a globally-recognised professional accountancy body, bringing value to its members, the profession and the wider community. Global coordination and joint initiatives are what will take the profession ahead; Chartered Accountants Worldwide is the perfect platform to achieve this goal and we look forward to promoting the brand in our part of the world.”
Pat Costello, chairman of CAW, added, “We look forward to working with ICAP on shaping the future of the global profession and the fresh perspectives they will bring to the table. By welcoming our second associate member we are expanding our outreach, enabling us to support even more members around the world.”
The Institute of Singapore Chartered Accountants (ISCA) also joined CAW as an associate member in June 2015.
The rest of the organisation is made up of founder members; Chartered Accountants Australia and New Zealand, Chartered Accountants Ireland, ICAEW, ICAS and the South African Institute of Chartered Accountants.
ICAEW chief executive Michael Izza commented, “ICAEW is one of the founder members of CAW which brings together institutes from across the globe to promote the highest standards in the profession. Chartered accountants are right at the heart of business and play a vital role throughout the global economy.
"We are committed to growing CAW and working together with other like-minded bodies to promote the brand and support our members. I am delighted to welcome ICAP to the organisation.”