KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) and University of Management & Technology (UMT) signed a memorandum of understanding (MOU) recently. The MOU was signed by Yaqoob Suttar, President ICAP and Abid Sherwani, Director General UMT at UMT campus Lahore.
As a result of this collaboration, the graduates of BS Accounting from UMT will have an opportunity to pursue highly recognized Chartered Accountancy qualification. Under the MOU, these graduates would be able to avail exemption from eight papers of the CA examinations. Similarly ICAP students who have cleared the respective ICAP subjects and ICAP members would be able to avail exemptions in the mapped subjects of BS Accounting at UMT.
President ICAP, Yaqoob Suttar while expressing his views to the audience said that the collaboration would increase the outreach of the partnering institutions and will serve as an endeavor to offer dynamic routes of achievement to our brilliant youth. He stated that work-integrated learning will provide a vibrant experience to all graduates, who will be well equipped to make a positive contribution towards business, economic and financial sector of the country.
Abid Sherwani, speaking on the occasion said that ICAP and UMT relationship will lead to an increase in the number of CAs and will bring us at par with countries with well-developed accounting structures.