ICAP meaning in Accounts and Finance ?

Answer:

What is Institute of Chartered Accountants of Pakistan mean?

The Institute of Chartered Accountants of Pakistan (Urdu: ادارہَ محاسبانِ منشوری ، پاکستان‎, ICAP) is a professional accountancy body in Pakistan. As of December 2018, it has 9989 members working in and outside Pakistan. The institute was established on July 1, 1961 to regulate the profession of accountancy in Pakistan. It is a statutory autonomous body established under the Chartered Accountants Ordinance 1961. With the significant growth in the profession, the CA Ordinance and Bye-Laws were revised in 1983.

The course of ICAP involves a blend of theoretical education and practical training (3.5 years) which run for a period of approximately 6 years and equips a student with knowledge, ability, skills and other qualities required of a professional accountant.

course of CA by ICAP involves 4 stages named PRC, CAF, CFAP and MSA. PRC stage has 5 papers, CAF stage has 2 groups (group A and group B) 4 papers in group A and 4 papers in group B, CFAP stage has 6 papers and MSA stage has 2 papers but in between after CAF stage there is a period of articleship of 3.5 years.

The head office of the institute is in Clifton, Karachi where it has its own premises. The institute also has regional offices at Lahore, Islamabad, Peshawar, Multan, Gujranwala, Sukkur, Quetta, Mirpur, Faisalabad, Abbottabad and Hyderabad.

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