Accounting Articles

  • Fixing the Pakistani Tax System

    The existential threat to Pakistan starts with the letter ‘T’. It’s ‘Taxes’. More precisely, it’s the lack of a fair and equitable taxation system, and the unwillingness and inability of successive governments to fix it.
  • Internal Audit in the New Business Environment

    United States public companies are navigating new reporting and monitoring demands arising from new regulation and societal trends. The Sarbanes-Oxley Act (SOX) and the apparent conversion of US Generally Accepted Accounting Principles (GAAP) to the International Financial Reporting Standards (IFRS) have created reporting issues for US companies.
  • Our Stubborn Tax Culture

    Even though the Federal Board of Revenue (FBR) appears determined to widen the tax net and is undertaking some unconventional measures as well to rein in the evaders, not much change can be expected from resource mobilisation effort in the year 2012.
  • Making Inter-corporate Financing Transparent

    The Securities and Exchange Commission of Pakistan (SECP) has decided to streamline investments made by listed companies in associated firms, much of which is made without proper disclosures to the shareholders.
  • Are Tax Reforms Delivering?

    The 1973 Constitution provides for eliminating all forms of exploitation on the basis of, ‘from each according to his ability, to each according to his work.’ Deviating from this fundamental principle, our successive governments have failed to develop a fair taxation system.
Accounting News

Accounting News

Economic and Finance News

Salient Features and Highlights of the Economic Survey of Pakistan 2012-13

ISLAMABAD (June 12, 2013) - Finance ministry of the Government of Pakistan yesterday published the Annual Economic Survey of Pakistan for the year 2012-13, salient features and highlights of which have been compiled and presented here.

Accounting Profession News

New IS Audit and Assurance Standards Released: Effective from November 2013

ROLLING MEADOWS, IL, USA (July 30, 2013) - ISACA (Information Systems Audit and Control Association) has issued revised Information Systems (IS) Audit and Assurance Standards. The standards have an effective date of 1 November 2013.

ACCA and WWF Organize Green Economy Forum Pakistan 2013

ISLAMABAD (June 06, 2013) - ACCA and WWF Pakistan yesterday hosted the Green Economy Forum in Islamabad. The event attracted 150 participants including some CEOs, CFOs, ACCA members and other professionals from corporate, public sector and practice, NGOs and Media.

ACCA and Rawalpindi Chamber of Commerce (RCCI) sign MoU for Collaboration

ISLAMABAD (March 12, 2013) - ACCA Pakistan (Association of Chartered Certified Accountants) and RCCI (Rawalpindi Chamber of Commerce and Industry) signed a Memorandum of Understanding last week to work together to support the business community by building its capacity and capability.

Industry CFOs Want Recruits to be Complete Finance Professionals: ACCA Research

KARACHI (January 22, 2013) - Majority of Chief Financial Officers (CFOs) looking to appoint new staff for their businesses say they should ideally have both a breadth and depth of finance expertise and capabilities, a new report from ACCA (the Association of Chartered Certified Accountants) reveals.

IBA and ICAP Design Programme Combining Undergraduate Degree in Accounting with CA Qualification

KARACHI (February 12, 2013) - Institute of Business Administration (IBA) in collaboration with the Institute of Chartered Accountants of Pakistan (ICAP) has designed an innovative four-year programme of combining the undergraduate academic degree in Accounting and Finance with a professional Chartered Accountancy qualification.

Accounting Education News

ACCA Pakistan Launches the Entry-level Foundation Diploma

ISLAMABAD (April 29, 2013) - ACCA Islamabad today held a launch ceremony for ACCA Foundation Diploma, the first in the series of launch events for the new diploma.

ACCA Islamabad Celebrates Students Achievements

ISLAMABAD (February 11, 2013) - ACCA Islamabad recently organised a students appreciation event title 'Celebrating Achievement' in Islamabad. The event honored the nine high achievers of December 2011 and June 2012 sessions.

Pakistani Accountancy Students Recognised by ACCA Chief Executive

KARACHI (January 31, 2013) - Outstanding achievements by two students were recognised by ACCA during a recent visit of the Chief Executive of ACCA (the Association of Chartered Certified Accountants) to Pakistan.

ACCA Pakistan Organizes Talent Gymnasium 2012

KARACHI (October 02, 2012) - ACCA Pakistan organised Talent Gymnasium 2012 in Karachi at Pearl Continental, attended by key employers and more than three hundred ACCA students.

Accounting Education and Students

Students and Education Articles

Why Islamic banking?

Islamic banking is based on Sharia that prohibits ‘riba’. According to religious scholars it means both usury and interest, and ‘gharar’, that signifies ambiguity, uncertainty, or lack of specificity in terms of a financial contract.

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