A Memoir of Institute s activities and programs for professional development and corporate networking May 07 I Vol: 7.5 National Council Office Bearers President Mohammad Iqbal Ghori, FCMA Vice President Anis ur Rehman, FCMA Honorary Secretary Khawaja Ehrar ul Hassan, FCMA Honorary Treasurer Saghir ul Hassan Khan, FCMA Members Raheel Asghar Ginai, FCMA Zia ul Mustafa Awan, FCMA Kashif Mateen Ansari, FCMA Waqar Ali Khan, FCMA Government Nominees Jameel Ahmad Deputy Governor, State Bank of Pakistan Dr. Talat Imtiaz Deputy Auditor General of Pakistan Sumaira K. Aslam Dy. Chief Cost Accounts Officer, MoF Research & Publications Committee Mohammad Iqbal Ghori, FCMA, Chairman Mian Nisar Ahmad, FCMA Hamad Rasool Bhullar, FCMA Faisal Shafique, FCMA Syed Hassan Ahmed AlAhdal, FCMA Syed Babar Ali, FCMA Syed Zulfiqar Ali Shah, FCMA Shoaib A. Tirmazi, ACMA Zulfiqar Ali Mehto Jawad Hamid Malik Tanvir Shahzad Dear Members, I am delighted to present the May 07 issue of e covering programs and events organized by the National Council, its various Committees as well as Branch Councils. The e also updates about various Institute s significant activities and progress during this month. The month of May marks two memorable occasions; one is of international significance i.e. Labor Day or international workers day commemorated around the globe on st May; and the other is a red letter day in the history of ICMA Pakistan i.e. rd May on which date the sapling of this professional institution was planted. This year the 67th Anniversary of the Institute was celebrated with great zeal and enthusiasm. The coverage of the celebrations at different campuses is part of this newsletter. Have a nice reading of this e and do share your suggestions on rp@icmap.com.pk Mohammad Iqbal Ghori, FCMA Mohammad Iqbal Ghori, FCMA President, ICMA Pakistan and Chairman Research and Publications Committee National Events Nationwide May, 07 67th Management Accountants Day The 67th Management Accountants Day was celebrated with great zeal and enthusiasm on rd May 07 at all campuses. The ceremonies were attended by office bearers of the institute, in addition to senior members, students and staff of ICMA Pakistan. At the head office, Karachi, the Management Accountants day ceremony was graced by Mr. AnisurRehman, Vice President and Khawaja Ehrar ul Hasan, Honorary Secretary. Other prominent members included Mr. Qaisar P. Mufti, former Vice President; Mr. Jalal Ahmed Khan, former Executive Director ICMAP; Mr. Ahsan Elahi Vohra, Chairman KBC; Mr. Khalid Mehmood, Former Chairman KBC; Mr. Saeed Ahmed Siddiqui, senior faculty member; Mr. Raza Baqir, Executive Director (Strategy); Mr. Mushtaq Ahmed Madraswala, Acting Executive Director (Operations); Mr. Waseem Ahmed, Director Finance ICMAP and employees of the Institute. Editorial Board Chief Editor Mohammad Iqbal Ghori, FCMA Chairman, Research & Publications Committee Editor Shahid Anwar, Joint Director Research & Publications Directorate Email: rp@icmap.com.pk Contact: + 9 99900 Ext 07 / 7 Inside National Events Directorates Activities
LAHORE Ceremony at Centers at Centers ISLAMABAD FAISALABAD Mr. Saghir ul Hassan Khan, Honorary Treasurer was the Chief Guest at MA Day celebration at Lahore. Mr. Muhammad Yasin, Chairman LBC; Mian Muhammad Yasin Asghar, Secretary CPD LBC; Mirza Munawar Hussain; Mr. Tariq Saeed; Mr. Qari Mohammad Awais; Mr. Zahid Mahmood; Mr. Qamar Hussain Ashtar; Mr. Anis Ahmad Piracha; Mr. Muhammad Hussain, Director Central Region; Syed Irfan, Deputy Director and Mr. Salman Haider, Convener CPD Committee LBC were also present. Mr. Muhammad Rafi, former President ICMAP & SAFA and Ex Managing Director OGDCL was the chief guest at MA day celebration at Islamabad. Mr. Waqar Ali Khan, member National Council; Mr. Riasat Ali Khan; Mr. Zakir Hussain Satti, Director North Region and other senior members and staff were also present on the occasion. Mr. Abdul Shakoor, Chairman, Faisalabad Branch Council was the chief guest at MA day celebration at Faisalabad. Mr. Shahid Irshad, Vice Chairman; Mr. Arshad Mehmood, Deputy Director, Faisalabad Campus and other senior members and staff were also present on the occasion. MULTAN HYDERABAD PESHAWAR Mr. Muhammad Naeem, Vice Chairman, Multan Branch Council was the Chief Guest at MA Day celebration at Multan. Mr. Abbas Sattar, Chairman Multan Branch Council and Mr. Mansha Yousaf, Deputy Director Multan Center. Mr. Muhammad Hussain Ajmeri, Deputy Director, Hyderabad Campus along with members, students and staff is celebrating the MA Day. Mr. Muhammad Hamid Mehmood, Chairman Peshawar Branch Council (PBC); Syed Irfan Haider Zaidi, Vice Chairman, PBC and Mr. Shoaib, Secretary PBC were the guests of honor at the MA day celebration at Peshawar. Other members included Mr. Muhammad Bilal; Sayyed Sadiq Shah; Mian Nisar Ahmad; Mr. Muhammad Zaeem Iqbal; Mr. Tahir Rehman and Ms. Sana Batool. Exclusive Session on Education & Examination Policy Nationwide May 0, 07 The Education Department of ICMA Pakistan organized an Exclusive Session through video link facilities at Karachi, Lahore and Islamabad centers on May 0, 07 to discuss ICMAP Education Policy and Examination Challenges. Khawaja Ehrar ul Hassan, FCMA, Honorary Secretary was master of the ceremony while Mr. Waqar Ali Khan, FCMA, Member National Council; Mr. Muhammad Hussain, FCMA, Director Central Region; Syed Irfan, Deputy Director; Mr. Zakir Hussain Satti, FCMA, Director North Region and Mr. Adeel Zeb Khan, Deputy Director Education were also present at their centers. Honorary Secretary gave motivational speech to the students. He shared his personal experiences as student and different phases of his professional life. He also highlighted education policies, procedures and international standards regarding accounting profession. He emphasized upon the old students to complete the CMA qualification. Mr. Waqar Ali Khan, FCMA, Member National Council motivated students in the areas of academics, leadership and humanity. He encouraged the students to inculcate high standards and enhance capabilities to meet the expectations of their families and the nation. At the end question and answer session was held which was participated by students from all centres the students from all centers. Institute of Cost and Management Accountants of Pakistan I e Volume 7.5 I May 07 Page
Center Center / / Campus Activities Activities KARACHI / HYDERABAD Seminar on Islamic Banking & Finance Karachi May 6, 07 Karachi Branch Council (KBC) organized a Seminar on Islamic Banking and Finance on May 06, 07 which covered 0 CPD Hours. The objective was to provide knowledge about Islamic Finance and shariahcompliant Banking, investment and insurance, Mr. Mohammad Mujeeb Baig, Executive Vice President and Group Head Product Development & Research MCB Islamic Bank was the main speaker. The seminar was attended by around 55 participants including members, students and officials of the different companies. Seminars on Zakat Calculation Karachi May 9, 07, Hyderabad May 5, 07 Karachi Branch Council (KBC) organized a Seminar on Zakat Calculation on May 9, 07 which covered 0 CPD hours. The objective was to provide better knowledge regarding zakat calculation under Islamic law. Syed Muhammad Farrukh, MS on Islamic Finance; Mr. Shameer Haroon, Head of Group Taxation and legal affairs,gatron group of Companies and Syed Asif Kasbati, Head of Tax Excellence, Managing Partner Kasbati& Co. & Mufti Ebrahim Essa, Chairman Shariah Board, Sindh Bank Limited were the speakers at the Seminar. The seminar was attended by around 90 participants, members, students and officials of different companies. Karachi Branch Council (KBC) organized another seminar in collaboration with Professional Accountants Forum (PAFO) on Zakat calculation on May 5, 07 at Hyderabad. Speakers from PAFO gave lectures on practical examples which were well appreciated by the participants. Syed Danish Ali, ACMA and Mr. Muhammad Hussain Ajmeri, Deputy Director, Hyderabad Campus were also present on the occasion. KARACHI HYDERABAD PostBudget 078 Seminar Karachi May 0, 07 Karachi Branch Council (KBC) organized a Seminar on Post Budget 078 on May 0, 07. Mr. Ayaz Mehmood, Chief Commissioner IR, LTU, Karachi was the Chief Guest and Mr. Khalid Mehmood, Chief Financial Officer, NAFA was the Moderator. Speakers of the seminar were Mr. Adnan Mufti, Partner, Shekha & Mufti; Mr. Zubair Tufail, President FPCCI; Syed Shabbar Zaidi, Senior Partner and Chairman A. F. Ferguson & Co.; Mr. Shahid Hassan Siddiqui, Economist. Mr. Ashfaq Yusuf Tola, Member Board of Privatization Commission was the Session Chairman. The objective was to provide information related to National Budget 078. The seminar was attended by around 80 participants; members, students and officials of companies. Institute of Cost and Management Accountants of Pakistan I e Volume 7.5 I May 07 Page
LAHORE Career Counseling Seminars Lahore April May, 07 Lahore Centre organized a number of career counseling seminars in Lahore region. The Institutions visited for career counselling include Govt. Girls Higher Secondary School; Govt. College of Commerce; Govt. College of Technology & Commerce; University of Management & Technology (UMT); Islamia College of Commerce; MAO College; Government College Commerce and Government College University. Govt. Girls Higher Secondary School Govt. College of Commerce Govt. College of Technology & Commerce, Jain Mandir University of Management & Technology Islamia College of Commerce MAO College Government College Commerce Government College University ISLAMABAD Seminar on Mock Stock Trading Competition by SECP Islamabad April 7, 07 Technical Support and Practice Development (TSPD) Directorate organized a seminar on Mock Stock Trading Competition by SECP on April 7, 07 as part of its efforts towards development of the practicing profession and capacity building of members, students and practicing members. The objective was to create awareness among the students and members regarding Stock Trading. The workshop was attended by the CMAs, staff of CMA firms and students of ICMA Pakistan. Interactive Session with President of ICMA Pakistan Islamabad May, 07 Islamabad Center organized an interactive session of students with the President of ICMA Pakistan on May 0, 07. The President briefed the students about the education and examinations policies and procedures and shared his educational and professional success story. Students keenly listened to him and asked questions which were appropriately responded by the President. Training workshop on AntiFraud Islamabad May, 07 The CPD committee of Islamabad Branch Council (IBC) organized a one day Antifraud Training workshop on May, 07. Mr. Muhammad Imran,FCMA Director Finance, Ghulam Ishaq Khan Institute of Science and Technology was the Chief Guest of the event. The workshop had three sessions. The first session was conducted by Mr. Waseem Ahmed Khan, FCMA Additional Registrar of Companies, SECP, whereas the second session was conducted by Mr. Muneeb Ashraf, Assistant Manager, Corporate Governess and Fraud from Telenor Pakistan. The third session was facilitated by Miss Sobia Syed, Former Global Head, Product development and delivery Corporate Research Investigation LLC Pakistan. The members and students of ICMAP and ICAP were the participants who were awarded 8 credit hours. Institute of Cost and Management Accountants of Pakistan I e Volume 7.5 I May 07 Page
Motivational Session with Council Member Islamabad May 8, 07 ICMAP Islamabad Centre organized a Motivational Session with Mr. Waqar Ali khan, Member National Council on May 8, 07. The session covered accelerated Learning Techniques, a revolutionary way of learning, based on Nobel Prizewinning research on learning and mind, which can make a dramatic difference to individual learning abilities. The objective of the session was to unleash the power of brain and enhance selfconfidence of the participants for performance improvement through advanced learning skills. Workshop on IFRS for SMEs Islamabad May 0, 07 The Quality Control Department of the institute organized a workshop on International Financial Reporting Standards (IFRS) for Small and Medium Enterprises (SMEs) on May 0, 07. Mian Muhammad Ramzan was the Chief Guest and Mr. Tariq Mahmood, Quality Control Reviewer was the trainer. The objective of workshop was to provide guidance to the participants on effective implementation of IFRS for SMEs, issued by IFAC, in the preparation of Financial Statements of Small & Medium Entities. The Workshop was attended by CMAs, CAs, staff of CMA and CA Practicing firms, industry representative and other stakeholders. Lecture on Blessings of Holy month of Ramzan Islamabad May, 07 The Islamabad Center organized a lecture on the importance and blessings of the holy month of Ramadan on May, 07. Mr. Sajjad Ahmed Chaven,former district and sessions Judge/Special Judge AntiCorruption was the main speaker. The lecture was attended by the student and members community at large. FAISALABAD Accelerated Learning Techniques Faisalabad May 9, 07 National Council of ICMA Pakistan organized a Motivational Session for the students on Accelerated Learning Techniques on May 9, 07 through video link at Faisalabad Campus. Mr. Waqar Ali Khan, FCMA, CPA Member National Council was the speaker at the session. MULTAN The News Education Expo Multan May, 07 Multan Centre participated in Education Expo 07 organized by the Jang News group on May, 07 at Multan. Other leading educational institutes also participated in the expo. Mr. Mansha Yousuf, Deputy Director, Multan Center as well as other members and staff of the institute visited the expo and provided guidance to the aspiring students and other visitors about the education policy and career growth prospects as CMAs. Institute of Cost and Management Accountants of Pakistan I e Volume 7.5 I May 07 Page 5
Directorates Activities EXAMINATION Examination Extra Attempt Nationwide May, 07 EXAMINATION The Institute s Extra Attempt Examinations [EAE], May 07 for following six (6) designated courses and Computer Based Examinations[CBE], May 07 for all six courses of Fundamental Level [FL] were conducted between May to 5, 07 and between May 6 to,07 respectively. EAE, May 07 [Six Designated Courses] [P] Audit & Assurance Professional Level [P] Corporate Financial Reporting [Open Book Assessment] Professional Level [C] Strategic Risk Management Chartered Level [C] Strategic Management Accounting Chartered Level [C] Strategic Financial Management Chartered Level [BML0] Information Systems and I.T. Audit Semester [Transitional Arrangement] CBE, May 07 [Fundamental Level Courses] [F] Fundamentals of Financial Accounting [F] Business Economics [F] Business English [F] Fundamentals of Management Accounting [F5] Commercial Laws [F6] Business Mathematics and Statistics The examinations were conducted at Karachi, Lahore, Islamabad, Multan, Faisalabad, Hyderabad, Peshawar, and Dubai [UAE] examination centres. The results were announced in working days after the conclusion of EAE, May 07 and in 5 working days after the conclusion of CBE, May 07. During the month of May 07, following Examination Committee meetings were held, at Examination Department, Head Office, Karachi, in connection with carrying out various examination activities including announcement of results for EAE, May 07 and CBE, May 07. Two meetings of the Examination Committee were held on 06May, 07 and 7May, 07 respectively. CPD &CORPORATE RELATIONS KARACHI CORPORATE RELATIONS Motivation & Brain Storm Sessions NORTH NAZIMABAD CAMPUS, KARACHI Industry Visit of General Tyre & Rubber Company of Pakistan Limited Interpersonal Skills Development Series in collaboration with INJAZ Institute of Cost and Management Accountants of Pakistan I e Volume 7.5 I May 07 Page 6
Nationswide CR&C Activities (5th April 07 th May 07) Sr. Name of Organization Description of Activities New Jubilee Insurance Company Limited (NJI) Internship Provided Ghulam Hussain Group Internship Provided Badar Expo Internships Provided Razi & Sons Internships Provided 5 Khalid Brothers Placement Provided 6 Shazil Pakistan Placement Provided 7 Cyber Internet Services (Pvt.) Ltd. Placement Provided 8 Yamaha Motor (Pvt.) Limited Placement Provided 9 SME Business Solution Limited Placement Provided 0 DawateIslami Placement Provided Millac Foods (Pvt.) Limited Placement Provided Novatex Limited Placement Provided MCBArif Habib Savings and Investments Limited Placement Provided JS Investment Limited Placement Provided 5 Fifth Management Services Placement Provided 6 Getz Pharma (Pvt.) Limited Placement Provided 7 Pakistan Steel Mills Corporation Limited Internship Provided 8 AlKaram Towel Industries (Pvt.) Limited Placement Provided 9 Kouser& Co. Internships Provided 0 Pearl Securities Limited Internship Provided Atco Laboratories Limited Placement Provided Hameed & Co. Internship Provided Lakson Group Internship Provided Shield Corporation Limited Internship Provided 5 Jaffer Business Systems (JBS) Placement Provided 6 Khas Group Placement Provided 7 BankIslami Pakistan Limited Placement Provided 8 Defence Group Placement Provided 9 Bank Alfalah Limited (BAL) Placement Provided 0 Agility Logistics (Pvt.) Limited Placement Provided Mega Poultry (Pvt.) Limited Placement Provided Union Fabrics (Pvt.) Limited Internships Provided Premier Group Internship Provided Wemyt Private Limited Guest Speaker Session 5 PKF FRONT (Chartered Accountants) Conducted WalkinInterview 6 Union Fabrics (Pvt.) Limited Conducted WalkinInterview 7 Muskho Electronics (Pvt.) Ltd Conducted WalkinInterview 8 The General Tyre& Rubber Company of Pakistan Limited Organized Industrial Visit 9 SAFA International Conference 8th 9th April 07, Islamabad Extended Support 0 SAP MENA Education Head Held Guest Speakers Session 67th Management Accountants Day Extended Support Matra Asia (Pvt.) Limited Held Corporate Meeting Suraj Cotton Mills Limited Held Corporate Meeting NATIONSWIDE CR&C ACTIVITIES Summary of Nationwide CR&C (st January 07 st May 07) Sr. Description of Activities Members Qualified Students Internship Total Placements & Internships Materialized (Citywide) 5 Corporate Meetings 6 Dignitary Visits 7 Mentoring Sessions 8 Guest Speaker Sessions 9 Corporate Partnership Scheme (CPS) MoUs 0 Practical Training Scheme (IPTS) MoUs Walkin Tests / Interviews Corporate Events Conducted Corporate Events Supported Corporate Events Participated (Seminar, Workshop etc.) 5 Customized Inhouse Corporate Training 6 Industrial Visits Arranged 7 Persuasive Letters Jan Feb Mar Apr May TOTAL 9 8 8 7 5 5 9 8 7 0 6 9 8 6 80 5 7 Institute of Cost and Management Accountants of Pakistan I e Volume 7.5 I May 07 Page 7
CPD DIRECTORATE th DIRECTORS TRAINING PROGRAM (DTP) Karachi May 0, 07 The CPD Directorate of ICMA Pakistan Head office organized th Directors Training Program (DTP) on May 0 to, 07 at Karachi. Around participants attended the DTP program. The participants were from public and private listed companies. During the training, they were given exposure about Corporate law, Sustainability Reporting, Code of Corporate Governance, Board Responsibilities & Ethics, Board Strategy and Risk Management, Board Composition & CEO Performance etc. CPD DIRECTORATE Training program at Harvard University, USA USA April to 9, 07 In pursuance of MoU signed with M/S. Excelators, USA, the CPD Directorate organized a training program from April to 9, 07 at Harvard University, USA. The training focused on the theme of Pricing, Growth and Profitability in the st Century.Seven members of the institute based at UAE and England participated in the training program namely Mr. Shah Nawaz Waheed (F85) from Abu Dhabi; Mr. Amer Hussain (A) from Dubai; Mr. Muhammad Hammad ur Rehman (F0) from Sharjah; Shafqat Nazir (A585) from Qatar; Mr. Muhammad Kashif (F99) from England and Mr. Mazher Razzaque from Dubai. Research and Publications R&P MarchApril 07 issue of Management Accountant Journal The MarchApril 07 issue of Management Accountant Journal has been hosted on Institute s website. This issue focuses on the theme of CPEC A Game Changer for the Region. The main features of this issue are special message from the Prime Minister of Islamic Republic of Pakistan; exclusive interviews of Prof. Ahsan Iqbal, Federal Minister for Planning and Development and Mr. Shahnawaz Mahmood, Deputy Managing Director, PakChina Investment Company Limited; and a Survey report on Implications of CPEC on Economy. The Journal is available on; https://www.icmap.com.pk/management_accountant.aspx The MayJune 07 issue of MA Journal will be on the theme of Business Entrepreneurship. Research paper on CPEC Energy Projects The R&P Directorate developed a research paper on CPEC Energy Projects and Changing Fuel Mix which analyzed the different coal based, hydro, solar and wind energy projects being setup under CPEC. The paper also examines the dominance of imported coal energy project visàvis local coal projects and changing fuel mix with the coming into operation of CPEC power projects. Survey on CPEC The R&P Directorate conducted a survey of members to seek their opinion on the implications of CPEC on the industry and national economy. The survey also aimed at ascertaining however members can contribute towards success of CPEC. The results of the survey are quite encouraging and majority of the respondents have termed CPEC as a Game Changer and a means to trigger economic growth in the country. Majority of respondents have admitted that as a result of CPEC, businesses will flourish; local industry will get a big boost; new job opportunities would be created; exports may go up; energy problem to be resolved and economic growth would be stimulated. The areas identified where CMAs can play a role in CPEC include employment, consultancy and cost audit. The survey report has been published in the MarchApril issue of Management Accountant Journal. Meeting of SME Board The R&P Directorate organized the th meeting SME Board on May 0, 07. The meeting was chaired by Mr. Sayyid Mansoob Hasan, FCMA. The Board signed a MoU with the Centre for International Private Enterprise (CIPE) to take joint initiatives for the promotion and capacity building of SME s in Pakistan. Institute of Cost and Management Accountants of Pakistan I e Volume 7.5 I May 07 Page 8
Top CPD Earners Muhammad Khurshid F5 Karachi CPD Hours: 80 Khawaja Ehrar ul Hassan F59 Karachi CPD Hours: 0 Shahid Ali A00 Karachi CPD Hours: 0 Top CPD Earners Shamim Ahmed A0 Karachi CPD Hours: 0 5 Muhammad Danish Ali F8 Jeddah CPD Hours: 7 New Fellow Members S No. Associate Membership No. Name Fellow Membership No. A58 Tahir Rehman F908 A90 Sohail Iqbal F909 A570 Muhammad Shahid F90 A0 Syed Ahmed Raza F9 5 A9 Hafiz Ejaz Ahmad F9 New Associate Members S No. Registration No. Name Associate Membership No. S00067 Saifullah Khan Khuram A670 S00870 Arslan Akram A67 S0090906 Maryam A67 S09 Kaleemullah Baig A67 5 S0060 Nouman Shakeel A67 6 S0067 Muhammad Arshad A675 7 S00809 Rana Mohsin Ali A676 New COPs S No. Membership No. Name A5098 Ali Ahmed A98 Shahbaz Noor A79 Sayyed Muhammad Waseem Tahir Renewal of COPs S No. Membership No. Name A58 Tariq Mahmood Event Name Place Tentative Dates th Directors' Training Program Lahore July,, 7, 8 & 9, 07 CPEC Conference Lahore st week of August 07 th Directors' Training Program Islamabad August 8, 9,, 5 & 6, 07 GMAC Dubai September 6, 07 Seminar on Investment Opportunities Karachi August, 07 Research & Publications Directorate Contact: + 9 99900 Ext 07 / 7, Email: rp@icmap.com.pk I URL: www.icmap.com.pk