ICAP is an Institution for Chartered Accounting in Pakistan. It was established six decades ago in 1961. It was established by the Federal Government audience, by the Federal Government Chartered organization. ICAP as an institute for Chartered Accountancy which produces the best Chartered Accountants in Pakistan. ICAP is basically a regulatory body. CA is a leading business professional with a focus on accounting, auditing, and finance. CA is a profession where you can get respectable jobs. Students can pursue CA after completing their Intermediate or A-level examination. Students ask this question a lot and parents are also concerned about it, that what is the scope or future for CA holders. First of all, I would like to tell you that CA in Pakistan is one of the most rewarding carriers in Pakistan. It gives you a worthwhile carrier both in respect of professional and personal areas. Secondly now in the 21 century, the business canvas has provided so many challenges for the corporate bodies itself. The corporations are seeking business managers with strong analytical skills, strong business acumen and deep-thinking skills. CA is by far a leading qualification which equips the students for all the basic skill which are required for a 21st-century business manager. Last but not least it is very important to take a decision for choosing CA as a carrier. According to my opinion, CA is a platform to realize your own potential. 21st-century milliners who are the high achievers look for challenges in their life. These are the 3 most important things that a student should know while choosing a field like CA.
We as the general public thinks that Chartered Accountancy is a very dry field or an unproductive field. It is not true. I have met CA holders who are eventful and lively. CA is a field that is very knowledgeable and motivating. It is just that a CA person should have the skill to balance their personal life as well as professional life. CA is not a difficult task. If you think you can join this carrier option then go for it, and don’t think much. It is obviously a future-oriented field. Students can learn and grasp a lot of knowledge and skills regarding auditing, accountancy and finance.
To be a student of ICAP, it is very important for students to complete their 12 years of education which is recognized by HEC in Pakistan. If you have 14 years of education then also you can be a part of ICAP. It is basically 4 years of qualification. These 4 years comprises of 21 papers in total. The first year is called AFC which is the Assessment of Fundamental Competency. AFC has 4 papers to be accomplished. It is a completely computer-based year in which students are required to appear in a CPE which is a computer-based examination based on MCQ. After passing AFC the first year, the students become eligible to enter the second year called CAF which is the Certification in Accountancy and Finance. CAF has 9 papers in total. After you have cleared with your CAF you can register yourself with an auditing firm or you may start practising in the industry. Then comes the Third year C CAP which is the Certified Accountancy and Finance Profession. It comprises of 6 papers overall. After you have cleared the 3 years of CA you will be eligible to enter the last and the final year MSA which is called the Multi Subject Assistance. The last year has 2 papers. This is the complete structure to become a CA holder.
The criteria to join ICAP is very simple. If you belong to an HEC background you need a total of fifty-five per cent marks to get eligible to join ICAP and there is no restriction for the faculty you have chosen for HEC. A commerce student, a pre-medical student or a pre-engineering student can also choose this carrier opportunity. The students who have A-levels background the minimum requirement is 2 passes.
In Pakistan and abroad there are many business opportunities for students. CA holders can work as business managers in the corporate world. The Chartered Accountants are working in almost every sector. CA holders are working in the manufacturing sector, service sector, tertiary sector etc. CA holders are also making their future in private as well as public sectors. Chartered Accountants are working as auditors, consultants, taxation managers, financial and general managers. Here we come to know that it is not a difficult task if you are focused and engrossed to attain your final goal. In the end, I would conclude it by saying that CA carrier can reward you with respect, money and many other achievements within Pakistan as well as abroad.
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