PreMCQ

Impact on the Global Economy-COVID 19

2021-03-17T10:36:00.003+05:00

During March 2020, the World Health Organization (WHO) declared the Coronavirus (COVID-19) outbreak as a pandemic in recognition of its rapid spread across the globe. Governments all over the world took steps to contain the spread of the virus and implemented closure of borders, released social distancing guidelines and enforced country wide lockdowns and curfews. According to a dashboard released by the Center for Systems Science and Engineering (CSSE) at Johns Hopkins University (JHU, USA), over 4.8 million cases have been confirmed and more than 300,000 people have perished. Due to the safety measures adopted by governments, as mentioned above, lives and livelihoods of most of the global population is at risk, thereby triggering an economic crisis with dire societal consequences. On the macroeconomic front, performance has already started to deteriorate and is expected not to stabilize till the end of the financial year. A recession is imminent and International Monetary Fund (IMF) has already revised growth forecast and GDPs of advanced and developing countries, while Asian Development Bank (ADB) has estimated that the pandemic could cost the global economy between $5.8 trillion to $8.8 trillion. Impact on Asian Economies and Economic Outlook In this section, the impacts and economic outlook of China, Pakistan and India will be assessed. Although China is several weeks ahead of many other countries on the “curve” of the virus progression, but it has already witnessed 36% decline in GDP in the first quarter of 2020. As per the data compiled by IMF, it is observed that manufacturing and services activities have declined dramatically while services appear to be much harder hit than manufacturing. In Pakistan, the main challenge for the government was to steer a judicious path between the need to insulate the population, and to revive the economic engine. The country was already in a mild recession pre-COVID, and the extended lockdown has surely made the situation worse. The lockdown imposed by Federal and Provincial governments jammed the economic wheel and resulted in the fast-track contraction of the economy. Although the pace of economic contraction is less than -1.5% which IMF initially predicted, it resulted in a slip in the economic size from $280 million to $265 million.

Govt has no intention to sell Roosevelt Hotel: minister

2020-10-22T15:51:00.008+05:00

Govt has no intention to sell Roosevelt Hotel: minister

No proposal is under consideration to selling the PIA-owned Roosevelt Hotel in New York, Aviation Minister Ghulam Sarwar Khan said on Monday. “All reports circulating in the media are nothing more than speculation and political point-scoring,” he added. The minister said the hotel’s management had taken out a loan of USD160mn from JP Morgan bank and was making regular payments from its own revenue stream. The balance outstanding at the moment is USD105mn. However, the hotel ran into financial trouble after the onset of the Covid-19 pandemic, giving the lender a pretext to sell off its liabilities to another company.

Source: https://www.dawn.com/news/1584733/govt-has-no-intention-to-sell-roosevelt-hotel-minister

Power tariff up by PKR2.89 per unit for KE consumers

2020-10-22T15:50:00.005+05:00

Power tariff up by PKR2.89 per unit for KE consumers

The federal government Monday notified up to PKR2.89 per unit hike in power tariff for K-Electric consumers effective from September 1. The Power Division notified the increase from PKR1.09 to PKR2.89 per unit. The K-Electric will increase the power price from September 1. The notification states, “In pursuance of sub-section (7) of Section 31 of the Regulation of Generation, Transmission and Distribution of Electric Power Act, 1997, the federal government is pleased to notify as under the adjustment approved on account of quarterly adjustments wef September 1, 2020, as determined as recommended by National Electric Power Regulatory Authority (NEPRA) vided decision of dated December 31, 2019, in respect of K-Electric Limited,” the Power Division said in a notification.”

Source: https://www.thenews.com.pk/print/728810-power-tariff-up-by-rs2-89-per-unit-for-ke-consumers

Housing finance: SBP announces PKR33bn govt markup subsidy

2020-10-22T15:30:00.007+05:00

Housing finance: SBP announces PKR33bn govt markup subsidy

The State Bank of Pakistan (SBP) Monday announced the government of Pakistan’s markup subsidy of PKR33bn for affordable housing finance. Under this scheme, the government is providing a markup subsidy for housing finance to provide financing at a minimum of 5 and a maximum 9% interest rate. All men/women holding CNIC and the first-time homeowners can avail of financing under this scheme. One individual can have a subsidized house loan facility under this scheme only once and financing will be provided only for construction and first purchase of newly constructed affordable housing units. In line with its vision of providing affordable housing to the masses, the Government of Pakistan will be providing a markup subsidy facility for the construction and purchase of new houses.

Source: https://epaper.brecorder.com/2020/10/13/1-page/854586-news.html

IDB to give Pakistan PKR63.23bn for oil, LNG import

2020-10-22T15:29:00.000+05:00

IDB to give Pakistan PKR63.23bn for oil, LNG import

Pakistan and the International Trade Finance Corporation of the Islamic Development Bank (IDB) signed a financing agreement amounting to USUSD386mn (PKR63.23bn) for the import of oil and Liquified Natural Gas (LNG), foreign media reported on Monday. The facility will be utilized by Pakistan State Oil Company Limited, Pakistan Arab Refinery Limited, and Pakistan LNG Limited. The Pakistani side emphasized the importance of this agreement and its role in promoting economic and social development.

Source: https://www.thenews.com.pk/print/728809-idb-to-give-pakistan-rs63-23-bn-for-oil-lng-import

Pakistan unlikely to avail USD4.5bn ITFC facility

2020-10-22T15:26:00.004+05:00

Pakistan unlikely to avail USD4.5bn ITFC facility

Pakistan is unlikely to fully benefit from the USD4.5bn financing package it secured about two and years ago from the International Islamic Trade Finance Corporation (ITFC) owing to market limitations of the Jeddah-based agency. Pakistan and the ITFC on Monday signed about USD400mn worth of two facilities to finance oil and liquefied natural gas (LNG) imports by December this year. Another USD100mn facility is expected to be arranged by December. In addition, Islamabad has given a mandate of an additional USD500mn for six months after December.

Source: https://www.dawn.com/news/1584755/pakistan-unlikely-to-avail-45bn-itfc-facility

Pakistan ACCA students in Pakistan

2020-07-28T13:04:00.000+05:00

Pakistan ..ACCA students and affiliates salary and career survey 2012

ACCA students in Pakistan are attractive to employers and able to move between roles, organisations and sectors. They are ambitious –keen to gain more senior positions and broaden their experiences.

SALARIES AND BONUSES

Just under half (45%) of students in Pakistan received a pay rise in the preceding 12 months, compared to 63% globally. Only 1% suffered a pay cut. Pay increases were more common in the public and corporate sectors and in financial services (54%, 57% and 57% respectively) than in public practice (25%). Only 24% of students in Pakistan received a bonus (against 50% globally). Among bonus recipients, 56% gained a bigger sum than in the previous year, and 61% saw their bonus increase by 6% or more, perhaps reflecting the relatively high inflation rate in Pakistan.

Based on reported salaries, ACCA students and affiliates in Pakistan have good prospects, and can increase their earning power while they study: students with more than five years of experience earn three times as much as students with less than two years of experience. Students in Pakistan perform a variety of roles and are able to focus on getting the experience needed for conversion to membership. Salaries vary greatly, but those in the most senior roles as part qualified accountants can earn up to PKR 80,000/ 100,000 a month.* Students are positive about their future pay prospects: two thirds (67%) expect to receive a pay rise in the next 12 months, with 65% of these anticipating an increase of at least 11%. A significant proportion expect to receive a pay rise or a promotion after passing exams or achieving ACCA membership.

BENEFITS AND WORKING CONDITIONS

Study leave is the most common benefit, received by 47% of students overall in Pakistan (and by 62% in public practice). Other common benefits include healthcare (received by 26%) and travel benefits / allowances (23%). Study leave is also the most valued benefit, ranked highly by 43%. Students in Pakistan typically work 47.5 hours a week, longer than the global average (44 hours).

VARIED CAREERS AND AMBITIONS

Students in Pakistan are highly mobile. Four in ten (40%) have previously worked in a different sector, while over a third have changed roles in the past 12 months – 58% within the same organisation. Their key drivers included increasing their salary (27%), changing career direction (21%) and obtaining promotion (19%). The ACCA Qualification helped students achieve their new roles: 58% said it reassured their employer of their technical or business skills, and in a third of cases it was a prerequisite for the job. ACCA students in Pakistan are ambitious: 80% plan to continue in their area in a more senior role, and 79% to lead a finance team. They are keen for new experiences, 68% aiming to work in a different area of finance or service line, but they also see opportunities as specialists – 73% anticipate working in a specialist finance role. 87% of students plan to work in another country, capitalizing on the portability of the ACCA Qualification and the international opportunities it opens up. Entrepreneurial interest is also strong, with 69% of students considering starting their own business.

* As per other reports, salaries reported exclude the top and bottom quartiles to reflect typical salaries received by ACCA students

ACCA students and affiliates salary and career survey

https://www.accacareers.com

Top ten audit firms in pakistan according to ACCA students

2014-02-23T11:08:00.003+05:00

Top ten audit firms in pakistan according to ACCA students

KPMG Taseer Hadi & Co. Chartered Accountants (80% of ACCA students wants kpmg 2011 )

Ernst & Young Ford Rhodes Sidat Hyder & Co. Chartered Accountants

M. Yousuf Adil Saleem & Co. Chartered Accountants (Deloitte

A.F. Ferguson & Co.

BDO Ebrahim & Co. Chartered Accountants

Riaz Ahmad & Co. Chartered Accountants

Anjum Asim Shahid Rahman Chartered Accountants (Grant Thornton)

Ibrahim Shaikh & Co. Chartered Accountants

Avais Hyder Liaquat NaumanHLB Ijaz Tabussum & Co.

KPMG is Hiring ACCA Affiliates Trainees

2012-09-12T19:17:00.001+05:00

ooks like that KPMG Taseer Hadi and Company is still hiring ACCA qualified affiliates, but on condition that they entered through ICAP’s exemption route.

According to their website link KPMG Taseer Hadi also invited ACCA affiliates to apply for training contract. Following is the text from their ‘career page’:..................full at ACCA Pakistan

Online Trainee Application forms will be accepted from 7th September 2012.

Eligibility Criteria

APPLY

June 2012 session ACCA Qualification pass rates:

2012-08-09T20:27:00.004+05:00

Results from the ACCA (Association of Chartered Certified Accountants) examinations in June 2012 show that a record number of students have successfully completed their final exams. Candidates around the world took almost 370,000 papers, with 7,160 students successfully completing their final ACCA exams, representing a 13.4% increase on last session.

Pass rates have improved at the Fundamental level - rising on average 2% over the previous December session. The pass rate of the F8 Audit and Assurance exam at 56% was significantly higher than in recent times. The results for F4 Corporate and Business law and that of F7 Financial Reporting were also strong this session. All other pass rates at the Fundamental level remained close to their historic averages.

At the Professional level, the results for the Essential papers remain strong. It was particularly pleasing that pass rates for each of the Options papers rose above those of December 2011, given that ACCA has launched guidance and signposted materials to assist students getting through this final hurdle in their exams.

Alan Hatfield, ACCA director - learning, said: 'We congratulate those who have succeeded in their exams – and we are delighted to see that more than 7,000 have completed their examinations, having been able to demonstrate the financial knowledge and professional skills which are needed by organisations in challenging economic conditions. We look forward to welcoming them to ACCA membership on completion of their practical experience requirements.'

Following the launch of ACCA’s new Foundations in Accountancy suite of awards in December, a bumper number of exams were taken both as paper-based and computer-based exams (CBEs), with 10,000 paper-based exams and almost 45,000 CBEs taken in the June session. This resulted in 2,935 students choosing to transfer to the ACCA qualification on completion of the Diploma exams. The Diploma exams in this suite of awards are benchmarked as equivalent to first year degree standard.

Commenting on the continuing success of Foundations in Accountancy, Alan Hatfield said: 'We are very pleased to see ACCA’s core values of opportunity and diversity in action through the Foundations in Accountancy suite of awards, offering students of ability an alternative way to gain entry to the ACCA qualification if they do not have formal qualifications of the appropriate level.'

Additionally, it was the first session where the new Foundations Specialist exams were offered. These exams can be taken as part of the Certified Accounting Technician (CAT) qualification or can be taken as standalone exams leading to a Foundation specialist award on completion of the Foundations in Professionalism, an interactive module delivered online.

June 2012 session ACCA Qualification pass rates:

Paper F1, Accountant in Business, 64%*

Paper F2, Management Accounting, 52%*

Paper F3, Financial Accounting, 57%*

Paper F4, Corporate and Business Law, 54%

Paper F5, Performance Management, 42%

Paper F6, Taxation, 45%

Paper F7, Financial Reporting, 48%

Paper F8, Audit and Assurance, 56%

Paper F9, Financial Management, 37%

Paper P1, Governance, Risk and Ethics, 53%

Paper P2, Corporate Reporting, 49%

Paper P3, Business Analysis, 49%

Paper P4, Advanced Financial Management, 36%

Paper P5, Advanced Performance Management, 35%

Paper P6, Advanced Taxation, 42%

Paper P7, Advanced Audit and Assurance, 32%

June 2012 session Foundations in Accountancy pass rates:

Introductory Certificate in Financial and Management Accounting

FA1, Recording Financial Transactions, 70%*

MA1 Management Information, 74%*

Intermediate Certificate in Financial and Management Accounting

FA2, Maintaining Financial Records, 61%*

MA2, Managing Costs and Finance, 52%*

Diploma in Accounting and Business

FAB, Accountant in Business, 47%

FMA, Management Accounting, 43%

FFA, Financial Accounting, 46%

Foundation Specialist papers

FAU, Foundations in Audit, 53%

FTX, Foundations in Taxation, 83%

FFM, Foundations in Financial Management, 45%

* Combined pass rates for paper-based and computer-based exams.

http://www.accaglobal.com/en/discover/news/2012/08/june-2012.html

How ACCA compare other bodies or master

2012-05-27T15:45:00.000+05:00

Answer by ACCA body
ACCA stands apart from the rest for five significant reasons:

Globally recognised qualifications
Our reputation and influence are respected worldwide. Our qualifications are based on international accounting standards but we offer adapted papers in financial accounting and auditing, and papers that test local law and tax. So you can feel confident that you have a globally recognised qualification that is relevant locally too.

Strong focus on professional ethics
We are the only accountancy association with a mandatory professional ethics module as part of our ACCA Qualification exam syllabus. This is essential as the profession moves towards strengthened codes of conduct, regulation and legislation - with an increasing focus on professionalism and ethics in accounting.

Versatile qualifications
Whilst some accountancy bodies focus on specific areas of accounting, we provide a qualification that can be applied to roles in financial institutions and public practice and finance departments within the public and corporate sectors. With ACCA you will be primed for a more varied career.

Continuing support
ACCA recognises that its members perform many diverse roles globally and has developed a flexible Continuing Professional Development (CPD) policy that reflects this. Members are encouraged to think about what CPD is relevant to them and chose learning appropriately. CPD could be achieved through attending classroom-based training, contributing to technical committees, acting as a mentor or through on-the-job learning (to name but a few options). We will provide support to help you identify appropriate CPD and professional networking opportunities.

Choice of specialist options papers tailored to career needs
In addition to completing performance objectives from up to five key areas as part of your Practical Experience Requirement (PER), ACCA offers students the opportunity to choose two final level papers. This choice is unique to the ACCA Qualification. You can choose papers in the subject areas you are working or aspire to work from the following list: Advanced Financial Management; Advanced Performance management; Advanced Taxation (available in nine different country-specific exams); Advanced Audit and Assurance.
http://www.accaglobal.com/en/qualifications/why-acca/compare.html

Top ten(10) Audit firms in Pakistan according to ACCA students (Accountancy)

2012-05-27T07:47:00.000+05:00

ASSOCIATION OF CERTIFIED CHARTERED ACCOUNTANTS (ACCA)

2012-05-27T07:33:00.000+05:00

ASSOCIATION OF CERTIFIED CHARTERED ACCOUNTANTS (ACCA)

Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global body for professional accountants offering the Chartered Certified Accountant qualification

The ACCA professional examinations are offered worldwide twice yearly, in June and December.

Only ACCA, ICAEW, ICAI, ICAS and AIA are able to authorise members to conduct audit, insolvency and investment business work in the United Kingdom and Republic of Ireland.

ACCA as worlwide

United Kingdom and Republic of Ireland
The ACCA or Chartered Certified Accountant qualification is fully recognised in the United Kingdom and Republic of Ireland.

Only ACCA, ICAEW, ICAI, ICAS and AIA are able to authorise members to conduct audit, insolvency and investment business work in the United Kingdom and Republic of Ireland.

European Union (EU
The ACCA qualification is legally recognized by all member countries of the European Union under the Mutual Recognition Directiv.Access to local professional qualifications is based on an aptitude test

United States
ACCA failed to gain recognition in America whereas HKICPA signed Mutual Recognition Agreement with AICPA. The mutual recognition agreement was signed between the Hong Kong Institute of Certified Public Accountants and the U.S. International Qualifications Appraisal Board representing the National Association of State Boards of Accountancy and the American Institute of Certified Public Accountants. The agreement covers the period from 24 October 2011 to 23 October 2016. http://www.hkicpa.org.hk/en
Effective December 2009, Colorado State Board of Accountancy no longer accepts Chartered Accountants including ACCA members, as meeting the educational requirements to sit for the US.so ACCA members are required to complete all of the regular requirements to become a U.S. Certified Public Accountant (CPA). Information on becoming a CPA in the U.S

Canada
As of 2006, Canadian Institute of Chartered Accountants, World Education Services and the Odette School of Business at the University of Windsor indicated that the evaluation recognized ACCA as having the Canadian equivalence of a Bachelor's Degree (four years) in Accounting
Australia
The Institute of Chartered Accountants in Australia, CPA Australia and Institute of Public Accountants recognised the ACCA qualification as sufficient to obtain a skill assessment as an Accountant for the purposes of immigration to Australia.
The Tax Practitioners Board has accredited ACCA as a recognised tax agent association and as a recognised BAS agent association on 12 May 2010.
ACCA has not procured a mutual recognition agreement with any accountancy body in Australia whereas both CIPFA & CIMA are recognized in Australia via MRA with CPA Australia.

New Zealand
New Zealand Institute of Chartered Accountants has removed its exemptions altogether for ACCA members following the re-negotiation of mutual recognition agreement with various accounting bodies including CIPFA and CPA Australia in December 2010.

South Africa
The ACCA Professional Scheme has been registered at Level 8 (equivalent to master degree level).
ACCA hasn’t procured mutual recognition agreement with any accountancy body in South Africa while Institute of Chartered Accountants in England and Wales, ICA in Scotland, ICA in Ireland have MRA with South African Institute of Chartered Accountants

Zimbabwe
Only members in good standing of ACCA and Institute of Chartered Accountants of Zimbabwe can register as auditors.

China
A new Agreement of Recognition Arrangement (ARA) between ACCA and HKICPA It was a disaster for ACCA members when they had to go through so called "8 unfair terms" e.g.holding a degree recognized by HKICPA (ACCA degree offered by OUB was failed in the test).However, ACCA qualification is highly recognized by the Hong Kong employment market due to international and historical influences.

Singapore
Singapore government recognizes ACCA qualification to meet her migration skills assessment to immigrate in Singapore.
ACCA and national accountancy body, Institute of Certified Public Accountants of Singapore (ICPAS), have operated a Joint Scheme of Examinations.All students who successfully complete the Joint Scheme examinations satisfy the examination requirements of both ACCA and ICPAS and are eligible to apply for membership of both bodies
Taiwan.ACCA members are entitled to obtain advanced standing in the examinations to become a Certified Public Accountant in Taiwan.

Malaysia
The ACCA or Chartered Certified Accountant qualification currently is recognized by the Malaysian Institute of Accountants (MIA). Only MIA members will be considered as accountants in Malaysia ACCA is statutorily recognised in Part II of the First Schedule of the Accountants
ACCA and the Malaysian Institute of Certified Public Accountants (MICPA) signed a mutual recognition agreement (MRA),

Pakistan
The ACCA qualification is legally recognised as Qualified Company Secretary in Pakistan, and there is partial recognition between ACCA and the local statutory accounting body (Institute of Chartered Accountants of Pakistan). Now ACCA affiliates/members can get maximum of seven exemptions.
Higher Education Commission (HEC) of Pakistan recognise ACCA member as equal to Masters in Commerce (M.Com)

Members

To qualify as an ACCA member, you will need to complete:

a minimum of five of 14 exams (nine are eligible for exemption)
the three years' practical experience
the Professional Ethics module.

Achieving fellowship When you have been an ACCA member for five years and completed your CPD for that time, we will automatically award you the prestigious title of Fellow. You will receive a letter and a certificate to welcome you to your newly-awarded FCCA status

The ACCA offers other qualifications:

MBA (for ACCA full members, offered in association with Oxford Brookes University)
BSc(Hons) in Applied Accounting, offered in association with Oxford Brookes University
MSc in Financial Management, offered in association with Heriot Watt University
Diploma in Financial Management (DipFM). Introduced in the mid-1980s as the Certified Diploma in Accounting and Finance (CDipAF), a financial qualification designed for non-finance managers. This qualification was withdrawn for new registrants at the end of 2010 and will be replaced with Foundations in Accountancy awards at the end of 2011
Diploma in International Financial Reporting (DipIFR)
Certificate in International Auditing (CertIA)
Certificate in International Financial Reporting (CertIFR)

Learning Partner

BPP Learning Media (Platinum Approved Learning Partner)

Gold Approved Learning Partners

Becker Professional Education - ATC International
Get Through Guides
Kaplan

ACCA membership

Once you have completed your exams, three years' practical experience and the Professional Ethics module you will become an ACCA member and be able to use the 'ACCA' letters after your name.

When you have been an ACCA member for five years and completed your CPD for that time, we will automatically award you the prestigious title of Fellow. You will receive a letter and a certificate to welcome you to yo

Professional Scheme
The Professional Scheme is the primary qualification of the ACCA and, following completion of up to 14 professional examinations and three years of supervised, relevant accountancy experience, enables an individual to become a Chartered Certified Accountant.ur newly-awarded FCCA status
ASSOCIATION OF CERTIFIED CHARTERED ACCOUNTANTS (ACCA)

F 1- Accounting In Business (AB).
F 2 – Management Accounting (MA)
F 3 – Financial Accounting (FA)

FUNDAMENTAL LEVEL : SKILLS MODULE.(All Papers)

F 4 – Corporate and Business Law (CL)
F 5 – Performance Management (PM)
F 6 – Taxation (TX)
F 7 – Financial Reporting (FR)
F 8 – Audit and Assurance (AA)
F 9 – Financial Management (FM)

PROFESSIONAL LEVEL: ESSENTIALS MODULE.(All Papers).

P1 – Professional Accountant (PA)
P2 - Corporate Reporting (CR)
P3 – Business Analysis (BA)

PROFESSIONAL LEVEL: OPTIONS MODULE.(Any Two Papers)

P4 – Advanced Financial Management (AFM)
P5 - Advanced Performance Management (APM)
P7 – Advanced Audit and Assurance. (AAA).

AFTER ACCA
Many (although not all) universities and educational providers will recognise ACCA as equivalent to at least a Bachelor degree in accountancy, for the purpose of obtaining credit to acquire a local Masters degree or enter an advanced study program.

The relationship between ACCA and the UK'
s Oxford Brookes University, has offered ACCA students and members to the Oxford Brookes BSc (Honours) in Applied Accounting, and the online supported MBA.
According to the agreements between ACCA and Tsinghua University in Beijing (China), Tsinghua will recognise the Oxford Brookes University BSc(Hons) Applied Accounting degree stated as the above, and will accept the graduates from this BSc(Hons) degree program to further study Tsinghua's master degree programs.
ACCA and the School of Oriental and African Studies (SOAS) at the University of London have signed a global partnership agreement to enable ACCA’s members and affiliates worldwide to take the SOAS's Postgraduate Diploma in Public Financial Management.
ACCA has signed the agreement with the University of Cambridge ESOL examinations (English for Speakers of Other Languages) to result in the launch of the International Certificate in Financial English (Cambridge ICFE), a new financial English exam.
Together with the Said Business School, at the University of Oxford, ACCA offers the Diploma in Financial Strategy, a Masters-level course that provides the essential elements of an MBA for qualified accountants, and is designed to extend knowledge and develop senior management skills.
ACCA and Edinburgh Business School at Heriot-Watt University have signed a joint agreement to enable ACCA Part 3 students, affiliates and members to gain a fast track entry through free-of-charge credit transfer and exemption when they matriculate for the MSc in Financial Management by distance learning or face-to-face study at a global network of centres.
ACCA partners Exeter University to offer members postgraduate qualifications in leadership (MA degree in leadership

source at http://en.wikipedia.org/wiki/Association_of_Chartered_Certified_Accountants

ICAEW employers in Pakistan

2012-05-26T15:32:00.000+05:00

A.F. Ferguson & Co LAHORE ISLAMABAD KARACHI

Amin Mudassar & Co LAHORE

Anjum Asim Shahid Rahman LAHORE KARACHI ISLAMABAD

Avais Hyder Liaquat Nauman LAHOREQUETTA KARACHI FAISALABAD

Azure Pakistan Outsourcing (Private) Limited LAHORE

BDO Ebrahim & Co KARACHI ISLAMABAD LAHORE

Consulting Direct UK Ltd RAWALPINDI

Ernst & Young Ford Rhodes Sidal Hyder ISLAMABAD KARACHI

F.R.A.N.T.S. & Co. KARACHI F.R.A.N.T.S. & Co

Fakharuddin Yousafali & Co LAHORE Fakharuddin Yousafali & Co

Fazal Mahmood & Company LAHORE

Ford Rhodes, Sidat Hyder & Co LAHORE 54000

HLB Ijaz Tabussum & Co. ISLAMABAD HLB Ijaz Tabussum & Co.

Horwath Hussain Chaudhury & Co. LAHORE ISLAMABAD RAWALPINDI

ICI Pakistan Limited (Corporate Function) KARACHI ICI

Javaid Jalal Amjad & Co LAHORE

Khalid Majid Rehman ISLAMABAD

KPMG Taseer Hadi & Co LAHORE 201 KARACHI ISLAMABAD

M Yousuf Adil Saleem & Co. KARACHI M Yousuf Adil Saleem LAHORE. MULTAN. ISLAMABAD

Mansoor Aslam Seraj Saleem, Chartered Accountants KARACHI

Mansoor Aslam Seraj Saleem, Chartered Accountants LAHORE

Maqbool Haroon Shahid Safdar & Co. LAHORE

Nasir Javaid Maqsood Imran Chartered Accountants LAHORE

ORIX Leasing Pakistan Limited KARACHI

Pace Pakistan Ltd (Worldcall Group) LAHORE

Pakarab Fertilizers Limited MULTAN

Pakistan Petroleum Limited KARACHI

Riaz Ahmad and Company LAHORE R ISLAMABAD KARACHI FAISALABAD

Sarwars Chartered Accountants LAHORE

Shell Gas LPG (Pakistan) Ltd KARACHI

Standard Chartered Bank (Pakistan) Limited KARACHI

Telenor Pakistan (PvT) Limited ISLAMABAD

University of Lahore LAHORE

Zahid Jamil & Co. Chartered Accountants FAISALABAD

Zia Masood & Co ISLAMABAD

Top ten audit firms in pakistan according to ACCA students

2012-05-12T21:41:00.001+05:00

Top eight from ten audit firms inPakistan according to ACCA students

KPMG Taseer Hadi & Co. Chartered Accountants (80% of ACCA students wants kpmg 2011 )

Ernst & Young Ford Rhodes Sidat Hyder & Co. Chartered Accountants

M. Yousuf Adil Saleem & Co. Chartered Accountants (Deloitte

A.F. Ferguson & Co.

BDO Ebrahim & Co. Chartered Accountants

Riaz Ahmad & Co. Chartered Accountants

Anjum Asim Shahid Rahman Chartered Accountants (Grant Thornton)

Ibrahim Shaikh & Co. Chartered Accountants

Telenor Pakistan training opportunities

2012-04-18T23:53:00.003+05:00

Telenor Pakistan has the following training opportunities:
Post
Interns
Eligibility
The ideal candidate for job would have the following credentials:

ACCA Professional Stage Student

Duration

Internships will be offered for tenure of minimum 6 weeks and maximum 8 weeks, commencing from the month of June.
How to apply
a.     Go to www.telenor.com.pk/careers
b.     Click on job opportunities
c.     If the applicant is new, he/she needs to create their profile
d.    Once the profile is completely filled in, click the home page link to go to where the vacancies are displayed – click on ‘summer internship 2012′, which will appear under the header of vacancies, once the document   opens, the candidate needs to click the â€œapplyâ€ button that will appear towards the very end.
Deadline
The deadline for applying is 22 April 2012.
Source at http://www.pakistanacca.com/2012/04/17/finally-telenor-started-hiring-acca-professional-students-but-only-for-2-months/

IAS 69: Accounting for Girl Friends,,,,,

2012-04-17T08:35:00.003+05:00

IAS 69: Accounting for Girl Friends

Objective:
The objective of IFRS 69 is to prescribe the accounting treatment for Girl friends. The principal issues are the timing of recognition of a female friend as a girl friend, the no. of days the relationship can be carried on and any write down in this romantic relationship. It also provides guidance on the methods to be employed to make GF.

Scope:
This IAS applies to all GF’s except those whose father, brother, ex-boyfriends or prospective boyfriends are working in police, army, intelligence agencies or political organizations or 6+ feet tall, have muscular body and know kung fu, judo or any other marshal art.

Definitions:
The following terms are used in this Standard with the meanings specified:
- LOVE is a serious mental disease, mostly found in old Indian movies, dramas and Urdu literature.
- FLIRTING is the modern form of love; this disease came from Hollywood movies, new Indian movies, internet, mobile phones, and English literature.

- MARRIAGE is a long term liability as a result of PAST events that is expected to be settled by increasing the population, decreasing the health and money.
-GIRL FRIEND is a current asset as a result of past efforts and events that is probable to generate future dates, physical contact and gifts. If not properly handled may become long-term liability i.e. wife.
-BOYFRIEND-SPECIFIC VALUE is the present value of the future dates that a boyfriend expects to realize from continuing use of the GF over its useful life and from its disposal to his another friend at the end of the flirting term
-FLIRTING TERM is the higher of the following:
-from your first conversation till the time the GF father catches you
-from the time of your first date till your GF get married with another person ,in which case she will become your ex-GF.
-from the time of your first date till you get married with your GF, afterward it will become a suffering term.

RECOGNITION
A girl shall be recognized as a girl friend if, and only if:
(a) it is probable that future physical benefits associated with the girlfriend will flow to the boyfriend,
(b) no possibility of GF becoming a long term liability (wife) exists and
(c) the expenditures to be incurred (e.g. in respect of gifts, cards etc ) can be measured reliably Female Cousins, younger sisters, and other female friends associated with the girlfriend should not be recognized. However, beautiful and bold ones should be declared in the flirting statement if and only if it is probable that they are expected to result in prospective girlfriends.

MEASUREMENT OF USEFUL LIFE OF GF
All the following factors shall be considered in determining the useful life of a GF:
(a) Expected “usage” of the girlfriend.
(b) Expected “physical” wear and tear, which depends on “operational” factors such as the number of “shifts” the GF is to be used.
(c) Technical or commercial obsolescence arising from changes in fashion or “service output” of the GF.
(d) “Legal” or similar limits on the “use” of the GF.

DERECOGNITION

The Girl Friend shall be derecognized:

1. at the end of the useful life of GF or flirting term whichever is earlier,
2. when no future benefits are expected from her or her disposal or 3.
3. when remote possibility of GF becoming long term liability occurs.

DISCLOSURE

The flirting statement shall disclose, for each “class” of GF:
a) Total no. of GFs with:
-age of GF
-complexion, face cut
-the useful life of each GF
-email address, residential address and mobile no. of each GF
-any “special” benefits that may have been derived from the GF
b) A reliable estimate of the boy friend regarding no. of expected GFs for each class of GF.
c) A reliable estimate of the expenditures to be incurred (e.g. in respect of gifts, cards etc) for each class of GF. :P ;D

ASSOCIATION OF BUSINESS EXECUTIVES - ABE

2012-03-14T09:24:00.001+05:00

ASSOCIATION OF BUSINESS EXECUTIVES - ABE

ABE is a Business Management qualification that is offered by ABE(UK), which is a professional Examination body based in United Kingdom.

The Association of Business Executives (ABE) is a professional membership body and an examination board. We develop business and management
qualifications at Diploma (Level 4), Higher Diploma (Level 5), Graduate/ Graduate Integrated/ Extended Diploma (Level 6) and Postgraduate Diploma (Level 7). ABE qualifications provide progression routes to degree and Masters programmes worldwide.

The three-hour written external examinations are held twice a year (usually the first week in June and December). ABE manages the entire examination process, from its external centres around the world, to invigilation and marking.

LEVEL FOUR:

DIPLOMA IN BUSINESS MANAGEMENT.

Course Structure

IB – Introduction to Business
IBC – Introduction to Business Communication
QM – Introduction to Quantitative Methods
IA – Introduction to Accounting

LEVEL FIVE:

HIGHER DIPLOMA IN BUSINESS MANAGEMENT.

FA – Financial Accounting
HRM – Human Resource Management
MP – Marketing Policy, Planning and Communication
OB – Organisational Behaviour
QM-BM – Quantitative Methods for Business Management
BE - The Business Environment

TWO Optional subjects S

MCR – Managing the Customer Relationships
EB – Economics for Business
PBL – Principles of Business Law
EBD – Enterpreneurship and Business Development
MA – Managerial Accounting

LEVEL SIX:

GRADUATE DIPLOMA IN BUSINESS MANAGEMENT.

CSP – Corporate Strategy and Planning
IBC – International Business Case Study
MO – Managing in Organisations

TWO Optional subjects :

SHRM – Strategic Human Resource Management
SMM – Strategic Marketing Management
PM – Project Management
CF – Corporate Finance

more info www.abeuk.com
Entry Requirements
Fee

ASSOCIATION OF BUSINESS EXECUTIVES - ABE

2012-03-14T09:11:00.004+05:00

CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS - CIMA

CIMA is the world's largest professional body of management accountants.
The Chartered Institute of Management Accountants (CIMA) is a United Kingdom-based professional body offering training and qualification in management accountancy and related subjects, focused on accounting for business; together with
ongoing support for members
.
CIMA is one of a number of professional associations for accountants in the UK and Republic of Ireland. Its particular emphasis is on developing the management accounting profession within the UK and worldwide.

CIMA is a member of the Consultative Committee of Accountancy Bodies and CIMA is withdrawing its membership from the CCAB (Consultative Committee of Accounting Bodies) on 2 March 2011. CIMA also is a member of the International Federation of Accountants.

CIMA has two grades of full membership:

Associate - designated by the letters ACMA

completed a period of qualifying practice of at least three years, documented and signed by appropriate witnesses
passed the institute's 15 qualifying examinations

Fellow - designated by the letters FCMA
www.cimaglobal.com

CIMA SYLABUS:

Certificate Level

The Certificate level is made up of five papers:

CO1 - Fundamentals of Management Accounting
CO2 - Fundamentals of Financial Accounting
CO3 - Fundamentals of Business Mathematics
CO4 - Fundamentals of Business Economics
CO5 - Fundamentals of Ethics, Corporate Governance & Business Law

Operational Level

E1 - Enterprise Operations
P1 -Performance Operations
F1 - Financial Operations

Management Level

E2 - Enterprise Management
P2 - Performance Management
F2 - Financial Management

Strategic Level

E3 - Enterprise Strategy
P3- Performance Strategy
F3 - Financial Strategy

CERTIFIED INTERNAL AUDITOR - CIA.

2012-03-14T09:05:00.001+05:00

CERTIFIED INTERNAL AUDITOR - CIA.
The Certified Internal Auditor (CIA) is a Globally Accepted Certifications for Internal Auditors. It is the standard by which individuals demonstrate their competence and professionalism in the Internal Audit Field.
CIA is administered by the Institute of Internal Auditors based in the USA. They set, monitor and administer CIA Examinations, and also set guidelines for
Certifications.
CIA Exams are available through Computer – Based - testing. You can register for the Examination any time of the year. All registrations are done online

EXAMINATION LEVELS:

CIA Exams aims to test a candidate’s knowledge of current Internal auditing practices and understanding of internal audit issues, risks and remedies.
The examination is offered in FOUR PARTS:

PART ONE:

The Internal Audit Activity’s Role in Governance, Risk and Control.

PART TWO:

Conducting the Internal Audit Engagement.

PART THREE:

Business Analysis and Information Technology.

PART FOUR:

Business Management Skills.

REGISTRATION REQUIREMENTS:

CIA candidates must meet the following eligibility requirements for education, character and work experience.

Education: CIA candidates must hold a bachelor’s degree (or higher degree) or its educational equivalent from an accredited college-level institution. For further details, please see the Certifications Candidate Handbook. Please note that we will not accept any amount of experience to substitute for missing education requirements.

Acceptable Documents

· Copy of your degree or official transcripts (If your name has changed since you earned your degree, you must also include your legal name change document)

 Letter from school confirming degree

 Letter from evaluation services confirming degree level

Character Reference: Candidates must exhibit high moral and professional character and must submit a Character Reference Form signed by a CIA, CGAP, CCSA, CFSA or the candidate's supervisor.

Work Experience: Candidates must obtain a minimum of 24 months of internal auditing experience or its equivalent. A Masters degree can substitute for 12 of the required 24 months. Please see the Certifications Candidate Handbook for more details. A completed Experience Verification Form is required. Candidates may apply to the program and sit for the exam prior to satisfying the professional experience requirement, but will not be certified until all program requirements have been met.

Eligibility Period:

Effective November 2010, the certification program’s eligibility requires candidates to complete the program certification process within four years of application approval. If a candidate has not completed the certification process within four years, all fees and exam parts will be forfeited.

EXAMINATION FEES:

NB: If you are a student with any learning institution, you are entitled to a discussed, which is approved by the council. These Fees are paid directly to the Examination Body in USA.

Application FEE: ~       $ 100 (Non – Students); $ 50 for Students.
CIA EXAM Part FEE: ~   $ 200 (Non – Students); $105 for Students.
Exam Part Rescheduling Fee:   ~ $ 50.

Accounting Technicians Certificate - ATC

2012-03-14T08:04:00.001+05:00

Accounting Technicians Certificate - ATChe ATC examination is held twice yearly in June and December. The examination is divided into TWO Levels. Each Level consists of five papers. A candidate may attempt each level in a part or separately in ascending order but before proceeding to the next level, a candidate must pass the lower level.

ATC is a Foundational professional Accountant qualification that is offered by KASNEB, which is a professional Examination body based in Kenya, East Africa.
LEVEL ONE.

1) Introduction to Financial Accounting.
2) Introduction to Law.
3) Entrepreneurship and Communication.
4) Principles of Management.
5) Business Mathematics.

LEVEL TWO.

1) Financial Accounting.
2) Fundamentals of Information Communication Technology.
3) Cost Accounting.
4) Taxation
6) Auditing.

CERTIFIED FINANCIAL ANALYST (CFA)

2012-03-14T08:01:00.004+05:00

CERTIFIED FINANCIAL ANALYST (CFA)
The Chartered Financial Analyst (CFA) designation is a mark of distinction that is globally recognized by employers, investment professionals, and investors as the definitive standard by which to measure serious investment professionals
Effective 1 January 2011: Have a valid international travel passport (required for enrollment and exam registration

SUBJECT NAME	LEVEL ONE.	LEVEL TWO	LEVEL THREE.
	EXAM WEIGHT (%).	EXAM WEIGHT (%).	EXAM WEIGHT (%).
ETHICS.
QUANTITATIVE METHODS.
ECONOMICS.
FINANCIAL REPORTING AND ANALYSIS.
CORPORATE FINANCE.
EQUITY INVESTMENTS.
FIXED INCOME.
DERIVATIVES.
ALTERNATIVE INVESTMENTS.
PORTFOLIO MANAGEMENT.

EXAM WEIGHT (%) varies and it range from 5% to20% and some time up to 60% depends on institution

CERTIFIED INFORMATION SYSTEM AUDITOR - CISA(AUDIT)

2012-03-14T07:46:00.001+05:00

CERTIFIED INFORMATION SYSTEM AUDITOR CISA(AUDIT)

CISA is a professional Audit qualification that is offered by the ISACA , which is a professional body based in USA. With this qualification, you get a qualification that opens the whole world of opportunities.Certified Information Systems Auditor (CISA) is a professional certification for Information Technology Audit professionals sponsored by ISACA, formerly the Information Systems Audit and Control Association. Candidates for the certification must meet requirements set by ISACA.
Examination paper
CISA is a single multiple choice examination paper. It's examinable twice a year. It is one of the few certifications formally approved by the US Department of Defense in their Information Assurance.
In 2011,
the CISA examination underwent its most significant update in a decade. The exam was revised from 6 domains to 5. All domains were revised and updated in this process.
Examination
The exam consists of 200 multiple-choice questions that must be answered within 4 hours. Candidate scores are reported as a scaled score. A scaled score is a conversion of a candidate's raw score on an exam to a common scale. ISACA uses and reports scores on a common scale from 200 to 800. For example, the scaled score of 800 represents a perfect score with all questions answered correctly; a scaled score of 200 is the lowest score possible and signifies that only a small number of questions were answered correctly. A candidate must receive a score of 450 or higher to pass the exam. As of 2011.

Content Areas.

Effective June 2011, ISACA has identified the new CISA job practice which reflects the vital and evolving responsibilities of IT auditors to be
Domain 1—The Process of Auditing Information Systems (14%)
Domain 2—Governance and Management of IT (14%)
Domain 3—Information Systems Acquisition, Development and Implementation (19%)
Domain 4—Information Systems Operations, Maintenance and Support (23%)
Domain 5—Protection of Information Assets (30%)

Domain 1—The Process of Auditing Information Systems (14%)
Provide audit services in accordance with IT audit standards to assist the organization in protecting and controlling information systems.
Domain 1—Task Statements:
1 Develop and implement a risk-based IT audit strategy in compliance with IT audit standards to ensure that key areas are included.
2 Plan specific audits to determine whether information systems are protected, controlled and provide value to the organization.
3 Conduct audits in accordance with IT audit standards to achieve planned audit objectives.
4 Report audit findings and make recommendations to key stakeholders to communicate results and effect change when necessary.
5 Conduct follow-ups or prepare status reports to ensure appropriate actions have been taken by management in a timely manner.
Domain 1—Knowledge Statements:
1 Knowledge of ISACA IT Audit and Assurance Standards, Guidelines and Tools and Techniques, Code of Professional Ethics and other applicable standards
2 Knowledge of risk assessment concepts, tools and techniques in an audit context
3 Knowledge of control objectives and controls related to information systems
4 Knowledge of audit planning and audit project management techniques, including follow-up
5 Knowledge of fundamental business processes (e.g., purchasing, payroll, accounts payable, accounts receivable) including relevant IT
6 Knowledge of applicable laws and regulations which affect the scope, evidence collection and preservation, and frequency of audits
7 Knowledge of evidence collection techniques (e.g., observation, inquiry, inspection, interview, data analysis) used to gather, protect and preserve audit evidence
.8 Knowledge of different sampling methodologies
.9 Knowledge of reporting and communication techniques (e.g., facilitation, negotiation, conflict resolution, audit report structure)
10 Knowledge of audit quality assurance systems and frameworks

Domain 2—Governance and Management of IT (14%)
Provide assurance that the necessary leadership and organization structure and processes are in place to achieve objectives and to support the organization's strategy.
Domain 2—Task Statements:
2.1 Evaluate the effectiveness of the IT governance structure to determine whether IT decisions, directions and performance support the organization’s strategies and objectives.
2.2 Evaluate IT organizational structure and human resources (personnel) management to determine whether they support the organization’s strategies and objectives.
2.3 Evaluate the IT strategy, including the IT direction, and the processes for the strategy’s development, approval, implementation and maintenance for alignment with the organization’s strategies and objectives.
2.4 Evaluate the organization’s IT policies, standards, and procedures, and the processes for their development, approval, implementation, maintenance, and monitoring, to determine whether they support the IT strategy and comply with regulatory and legal requirements.
2.5 Evaluate the adequacy of the quality management system to determine whether it supports the organization’s strategies and objectives in a cost-effective manner.
2.6 Evaluate IT management and monitoring of controls (e.g., continuous monitoring, QA) for compliance with the organization’s policies, standards and procedures.
2.7 Evaluate IT resource investment, use and allocation practices, including prioritization criteria, for alignment with the organization’s strategies and objectives.
2.8 Evaluate IT contracting strategies and policies, and contract management practices to determine whether they support the organization’s strategies and objectives.
2.9 Evaluate risk management practices to determine whether the organization’s IT-related risks are properly managed.
2.10 Evaluate monitoring and assurance practices to determine whether the board and executive management receive sufficient and timely information about IT performance.
2.11 Evaluate the organization’s business continuity plan to determine the organization’s ability to continue essential business operations during the period of an IT disruption.
Domain 2—Knowledge Statements:
2.1 Knowledge of IT governance, management, security and control frameworks, and related standards, guidelines, and practices
2.2 Knowledge of the purpose of IT strategy, policies, standards and procedures for an organization and the essential elements of each
2.3 Knowledge of organizational structure, roles and responsibilities related to IT
2.4 Knowledge of the processes for the development, implementation and maintenance of IT strategy, policies, standards and procedures
2.5 Knowledge of the organization’s technology direction and IT architecture and their implications for setting long-term strategic directions
2.6 Knowledge of relevant laws, regulations and industry standards affecting the organization
2.7 Knowledge of quality management systems
2.8 Knowledge of the use of maturity models
2.9 Knowledge of process optimization techniques
2.10 Knowledge of IT resource investment and allocation practices, including prioritization criteria (e.g., portfolio management, value management, project management)
2.11 Knowledge of IT supplier selection, contract management, relationship management and performance monitoring processes including third party outsourcing relationships
2.12 Knowledge of enterprise risk management
2.13 Knowledge of practices for monitoring and reporting of IT performance (e.g., balanced scorecards, key performance indicators [KPI])
2.14 Knowledge of IT human resources (personnel) management practices used to invoke the business continuity plan
2.15 Knowledge of business impact analysis (BIA) related to business continuity planning
2.16 Knowledge of the standards and procedures for the development and maintenance of the business continuity plan and testing methods

Domain 3—Information Systems Acquisition, Development, and Implementation (19%)
Provide assurance that the practices for the acquisition, development, testing, and implementation of information systems meet the organization’s strategies and objectives.
Domain 3—Task Statements:
3.1 Evaluate the business case for the proposed investments in information systems acquisition, development, maintenance and subsequent retirement to determine whether it meets business objectives.
3.2 Evaluate the project management practices and controls to determine whether business requirements are achieved in a cost-effective manner while managing risks to the organization.
3.3 Conduct reviews to determine whether a project is progressing in accordance with project plans, is adequately supported by documentation and status reporting is accurate.
3.4 Evaluate controls for information systems during the requirements, acquisition, development and testing phases for compliance with the organization's policies, standards, procedures and applicable external requirements.
3.5 Evaluate the readiness of information systems for implementation and migration into production to determine whether project deliverables, controls and organization's requirements are met.
3.6 Conduct post-implementation reviews of systems to determine whether project deliverables, controls and organization's requirements are met.
Domain 3—Knowledge Statements:
3.1 Knowledge of benefits realization practices, (e.g., feasibility studies, business cases, total cost of ownership [TCO], ROI)
3.2 Knowledge of project governance mechanisms (e.g., steering committee, project oversight board, project management office)
3.3 Knowledge of project management control frameworks, practices and tools
3.4 Knowledge of risk management practices applied to projects
3.5 Knowledge of IT architecture related to data, applications and technology (e.g., distributed applications, web-based applications, web services, n-tier applications)
3.6 Knowledge of acquisition practices (e.g., evaluation of vendors, vendor management, escrow)
3.7 Knowledge of requirements analysis and management practices (e.g., requirements verification, traceability, gap analysis, vulnerability management, security requirements)
3.8 Knowledge of project success criteria and risks
3.9 Knowledge of control objectives and techniques that ensure the completeness, accuracy, validity and authorization of transactions and data
3.10 Knowledge of system development methodologies and tools including their strengths and weaknesses (e.g., agile development practices, prototyping, rapid application development [RAD], object-oriented design techniques)
3.11 Knowledge of testing methodologies and practices related to information systems development
3.12 Knowledge of configuration and release management relating to the development of information systems
3.13 Knowledge of system migration and infrastructure deployment practices and data conversion tools, techniques and procedures.
3.14 Knowledge of post-implementation review objectives and practices (e.g., project closure, control implementation, benefits realization, performance measurement)

Domain 4—Information Systems Operations, Maintenance and Support (23%)
Provide assurance that the processes for information systems operations, maintenance and support meet the organization’s strategies and objectives.
Domain 4—Task Statements:
4.1 Conduct periodic reviews of information systems to determine whether they continue to meet the organization’s objectives.
4.2 Evaluate service level management practices to determine whether the level of service from internal and external service providers is defined and managed.
4.3 Evaluate third party management practices to determine whether the levels of controls expected by the organization are being adhered to by the provider.
4.4 Evaluate operations and end-user procedures to determine whether scheduled and non-scheduled processes are managed to completion.
4.5 Evaluate the process of information systems maintenance to determine whether they are controlled effectively and continue to support the organization’s objectives.
4.6 Evaluate data administration practices to determine the integrity and optimization of databases.
4.7 Evaluate the use of capacity and performance monitoring tools and techniques to determine whether IT services meet the organization’s objectives.
4.8 Evaluate problem and incident management practices to determine whether incidents, problems or errors are recorded, analyzed and resolved in a timely manner.
4.9 Evaluate change, configuration and release management practices to determine whether scheduled and non-scheduled changes made to the organization’s production environment are adequately controlled and documented.
4.10 Evaluate the adequacy of backup and restore provisions to determine the availability of information required to resume processing.
4.11 Evaluate the organization’s disaster recovery plan to determine whether it enables the recovery of IT processing capabilities in the event of a disaster.
Domain 4—Knowledge Statements:
4.1 Knowledge of service level management practices and the components within a service level agreement
4.2 Knowledge of techniques for monitoring third party compliance with the organization’s internal controls
4.3 Knowledge of operations and end-user procedures for managing scheduled and non-scheduled processes
4.4 Knowledge of the technology concepts related to hardware and network components, system software and database management systems
4.5 Knowledge of control techniques that ensure the integrity of system interfaces
4.6 Knowledge of software licensing and inventory practices
4.7 Knowledge of system resiliency tools and techniques (e.g., fault tolerant hardware, elimination of single point of failure, clustering)
4.8 Knowledge of database administration practices
4.9 Knowledge of capacity planning and related monitoring tools and techniques
4.10 Knowledge of systems performance monitoring processes, tools and techniques (e.g., network analyzers, system utilization reports, load balancing)
4.11 Knowledge of problem and incident management practices (e.g., help desk, escalation procedures, tracking)
4.12 Knowledge of processes, for managing scheduled and non-scheduled changes to the production systems and/or infrastructure including change, configuration, release and patch management practices
4.13 Knowledge of data backup, storage, maintenance, retention and restoration practices
4.14 Knowledge of regulatory, legal, contractual and insurance issues related to disaster recovery
4.15 Knowledge of business impact analysis (BIA) related to disaster recovery planning
4.16 Knowledge of the development and maintenance of disaster recovery plans
4.17 Knowledge of types of alternate processing sites and methods used to monitor the contractual agreements (e.g., hot sites, warm sites, cold sites)
4.18 Knowledge of processes used to invoke the disaster recovery plans
4.19 Knowledge of disaster recovery testing methods

Domain 5—Protection of Information Assets (30%)
Provide assurance that the organization’s security policies, standards, procedures and controls ensure the confidentiality, integrity and availability of information assets.
Domain 5—Task Statements:
5.1 Evaluate the information security policies, standards and procedures for completeness and alignment with generally accepted practices.
5.2 Evaluate the design, implementation and monitoring of system and logical security controls to verify the confidentiality, integrity and availability of information.
5.3 Evaluate the design, implementation, and monitoring of the data classification processes and procedures for alignment with the organization’s policies, standards, procedures, and applicable external requirements.
5.4 Evaluate the design, implementation and monitoring of physical access and environmental controls to determine whether information assets are adequately safeguarded.
5.5 Evaluate the processes and procedures used to store, retrieve, transport and dispose of information assets (e.g., backup media, offsite storage, hard copy/print data, and softcopy media) to determine whether information assets are adequately safeguarded.
Domain 5—Knowledge Statements:
5.1 Knowledge of the techniques for the design, implementation, and monitoring of security controls, including security awareness programs
5.2 Knowledge of processes related to monitoring and responding to security incidents (e.g., escalation procedures, emergency incident response team)
5.3 Knowledge of logical access controls for the identification, authentication and restriction of users to authorized functions and data
5.4 Knowledge of the security controls related to hardware, system software (e.g., applications, operating systems), and database management systems.
5.5 Knowledge of risks and controls associated with virtualization of systems
5.6 Knowledge of the configuration, implementation, operation and maintenance of network security controls
5.7 Knowledge of network and Internet security devices, protocols, and techniques
5.8 Knowledge of information system attack methods and techniques
5.9 Knowledge of detection tools and control techniques (e.g., malware, virus detection, spyware)
5.10 Knowledge of security testing techniques (e.g., intrusion testing, vulnerability scanning)
5.11 Knowledge of risks and controls associated with data leakage
5.12 Knowledge of encryption-related techniques
5.13 Knowledge of public key infrastructure (PKI) components and digital signature techniques
5.14 Knowledge of risks and controls associated with peer-to-peer computing, instant messaging, and web-based technologies (e.g., social networking, message boards, blogs)
5.15 Knowledge of controls and risks associated with the use of mobile & wireless devices
5.16 Knowledge of voice communications security (e.g., PBX, VoIP)
5.17 Knowledge of the evidence preservation techniques and processes followed in forensics investigations (e.g., IT, process, chain of custody)
5.18 Knowledge of data classification standards and supporting procedures
5.19 Knowledge of physical access controls for the identification, authentication and restriction of users to authorized facilities
5.20 Knowledge of environmental protection devices and supporting practices
5.21 Knowledge of the processes and procedures used to store, retrieve, transport and dispose of confidential information assets

Requirements
As of 2011, Candidates for the CISA must meet several requirements A minimum of 5 years of professional information systems auditing, control or security work experience (as described in the CISA job practice areas) is required for certification. Substitutions and waivers of such experience, to a maximum of 3 years, may be obtained as follows:

A maximum of 1 year of information systems experience OR 1 year of non-IS auditing experience can be substituted for 1 year of experience. 60 to 120 completed university semester credit hours (the equivalent of an 2-year or 4-year degree) not limited by the 10-year preceding restriction, can be substituted for 1 or 2 years, respectively, of experience. A bachelor's or master's degree from a university that enforces the ISACA-sponsored Model Curricula can be substituted for 1 year of experience. To view a list of these schools, please visit www. isaca.org/model universities. This option cannot be used if three years of experience substitution and educational waiver have already been claimed. A master's degree in information security or information technology from an accredited university can be substituted for 1 year of experience. Exception: 2 years as a full-time university instructor in a related field (e.g., computer science, accounting, information systems auditing) can be substituted for 1 year of experience.
information from en.wikipedia.org/wiki/Certified_Information_Systems_Auditor

CERTIFIED SECURITIES AND INVESTMENT ANALYST .(CSIA )

2012-03-14T07:41:00.001+05:00

CERTIFIED SECURITIES AND INVESTMENT ANALYST .
SECTION 1.
1. Financial Mathematics.
2. Financial Institutions and Markets.
3. Enterpreneurship and Communication.

SECTION 2.

4. Economics
5. Financial Accounting
6. Taxation Theory and Practice

SECTION 3.
7. Management Information Systems
8. Financial Management
9. Financial Statements Analysis.

SECTION 4.
10. Advanced Finance, Investment and Equity Analysis.
11. Law and Regulations Governing Financial Markets.
12. Quantitative Analysis.

SECTION 5.
13. Principles and Practice of Management.
14. Valuation and Analysis of Fixed Income Instruments.
15. Asset Management.

SECTION 6.
16. Portfolio Management.
17. International Finance.
18. Valuation and Analysis of Derivatives.

CERTIFIED PUBLIC ACCOUNTANT (CPA)

2012-03-14T07:37:00.003+05:00

Certified Public Accountant (CPA)
is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA.n most U.S. states, only CPAs who are licensed are able to provide to the public attestation (including auditing) opinions on financial statements. The exceptions to this rule are Arizona, Kansas, North Carolina and Ohio where,
although the "CPA" designation is restricted, the practice of auditing is not..
Many states prohibit the use of the designations "Certified Public Accountant" or "Public Accountant" (or the abbreviations "CPA" or "PA") by a person who is not certified as a CPA or PA in that state Texas additionally prohibits the use of the designations "accountant" and "auditor" by a person not certified as a Texas CPA, unless that person is a CPA in another state, a non-resident of Texas, and otherwise meets the requirements for practice in Texas by out-of-state CPA firms and practitioners

CPA exam
In order to become a CPA in the United States, the candidate must sit for and pass the Uniform Certified Public Accountant Examination (Uniform CPA Exam), which is set by the American Institute of Certified Public Accountants (AICPA) and administered by the National Association of State Boards of Accountancy (NASBA)
Typically the requirement is a U.S. bachelors degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional 1 year study. This requirement for 5 years study is known as the "150 hour rule" and has been adopted by the majority of state boards, although there are still some exceptions (e.g.California). This requirement mandating 150 hours of study has been adopted by 45 states. Work experience under the supervision of a practising accountant is not generally required.,Although the CPA exam is uniform, licensing and certification requirements are imposed separately by each state's laws and therefore vary from state to state.
The Colorado State Board of Accountancy allows Chartered Certified Accountants (ACCA), together with Chartered Accountants from eligible jurisdictions (Australia, South Africa, Canada, Ireland, New Zealand) automatic eligibility to sit for the Uniform CPA Exam as a Colorado candidate. As of December 9, 2009, ACCA members are not automatically eligible to sit for the Uniform CPA Exam.

State requirements for the CPA qualification can be summed up as the Three Es—Education, Examination and Experience. The Education requirement normally must be fulfilled as part of the eligibility criteria to sit for the Uniform CPA and the Examination component is the Uniform CPA itself. Some states have a two tier system whereby an individual would first become certified as a CPA—usually by passing the CPA exam. That individual would then later be eligible to be licensed once a certain amount of work experience is accomplished. Other states have a one tier system whereby an individual would be certified and licensed at the same time when both the CPA exam is passed and the work experience requirement has been met.
The experience component varies from state to state:

The two-tier states generally do not require work experience for a CPA certificate (it is required for a license to practice).
Some states, such as Colorado and Massachusetts, will waive the work experience requirement for those with a higher academic qualification compared to the state's requirement to appear for the Uniform CPA
The majority of states still require work experience to be of a public accounting nature. However an increasing number of states, including Oregon, Virginia, Georgia and Kentucky will accept experience of a more general nature in the accounting area. This allows persons to obtain the CPA designation while working for a corporation's finance function.
The majority of states require work experience to be verified by a licensed CPA. This can cause difficulties for applicants based outside the United States. However, some states such as Colorado and Oregon will accept work experience certified by a Chartered Accountant as well

Over 40 of the state boards now require applicants for CPA status to complete a special examination on ethics, which is effectively a fifth exam in terms of requirements to become a CPA .

Continuing Professional Education (CPE)

CPAs are required to take continuing education courses in order to renew their license. Requirements vary by state but the vast majority require 120 hours of CPE every 3 years with a minimum of 20 hours per calendar year. The requirement can be fulfilled through attending live seminars, webcast seminars, or through self-study (textbooks, videos, online courses, all of which require a test to receive credit). As part of the CPE requirement, most states require their CPAs to take an ethics course during every renewal period. Again, ethics requirements vary by state but the courses range from 2–8 hours.

Certified Public Accountants outside the U.S.

The designation Certified Public Accountant (CPA) also exists as an accounting designation in many countries ouside the United States. Education, experience and examination requirements vary. These countries include:

China: Chinese Institute of Certified Public Accountants
Cyprus: Institute of Certified Public Accountants in Cyprus
Hong Kong: Hong Kong Institute of Certified Public Accountants
Israel: Institute of Certified Public Accountants in Israel
Indonesia: The Indonesian Institute of Certified Public Accountants
Japan: The Japanese Institute of Certified Public Accountants
Kenya: Institute of Certified Public Accountants of Kenya
Korea: The Korean Institute of Certified Public Accountants
Malaysia: The Malaysian Institute of Certified Public Accountants
Malta: The Ministry of Finance grants the Malta CPA title to B.Accty (Hons) graduates from the University of Malta or ACCA/ICAEW qualified accountants who have sat for the Maltese Variant with at least 3 years experience
Mexico: The Mexican Association of Public Accountants, The Mexican Institute of Certified Public Accountants
Pakistan: Institute of Certified Public Accountants of Pakistan
Philippines: Philippine Institute of Certified Public Accountants
Republic of Ireland: Institute of Certified Public Accountants in Ireland
Singapore: Institute of Certified Public Accountants of Singapore
Turkey: TURMOB
United Kingdom: Association of Certified Public Accountants
Venezuela:

In some of these countries the CPA designation is not recognized by law. For example in Pakistan the ICPAP does not confer a public accounting designation as it is not a chartered or recognized body. There are only two accounting bodies chartered by law in Pakistan i.e. Institute of Chartered Accountants of Pakistan and the Institute of Cost and Management Accountants of Pakistan. Only chartered accountants can perform financial audit and Cost and Management Accountants and CAs can perform Cost Audit in Pakistan. In the United Kingdom membership of the ACPA is not recognized by statute.

PART ONE.

SECTION ONE:
1) Financial Accounting.
2) Introduction to Law.
3) Entrepreneurship and Communication.
SECTION TWO:
4) Economics.
5) Cost Accounting.
6) Auditing and Assurance.

PART TWO.

SECTION THREE.
7) Management Information Systems.
8) Financial Management.
9) Financial Reporting.
SECTION FOUR.
10) Taxation.
11) Company Law.
12) Quantitative Analysis
PART THREE.
SECTION FIVE.
13) Principles and Practice of Management.
14) Management Accounting.
15) Advanced Financial Management.
SECTION SIX.
16) Advanced Taxation.
17) Advanced Auditing and Assurance.
18) Advanced Financial Reporting.