Saturday, February 27, 2010

Press Release: ACCA Pakistan Train the Trainer Initiative

Press Release: ACCA Pakistan Train the Trainer Initiative

As part of ACCA continued efforts to develop excellence in professional
accounting education and establish best practices amongst tertiary
accounting education providers, ACCA Pakistan organised "Train The Trainer"
workshop on 24 February 2010 in Islamabad. Dr Afra Sajjad, Head of Education
and Policy Development of ACCA Pakistan and Mahreen Khan were the event

The workshop participants were faculty members of ACCA Approved Learning
Partners and tuition providers in Pakistan. The participants appreciated
ACCA innovative efforts at enhancing the capacity of professional accounting
education faculty. They were of the opinion that the workshop was useful and
relevant to their work as it enabled them to learn new teaching skills and
methods. They opined that the workshop has energised them and they were
motivated to improving students' exam performance and professionalism.

Speaking at the event, Dr Afra Sajjad, Head of Education and Policy
Development of ACCA Pakistan stated "Train The Trainer is manifestation of
ACCA Pakistan commitment to faculty development of professional accounting
education tuition providers. She discussed the ideas on how to prepare for
more effective sessions, how to improve study support to students and pass
rates? How to tailor general exam techniques to their respective papers and
formulate action plan for implementation of best teaching practices. She
said our students have demonstrated ability and potential to be world class
professional accountants. Through initiatives like "Train the Trainer" we
are facilitating ACCA tutors to help young men and women of Pakistan pursue
their ambition of successful career in finance, accounting and taxation
successfully as well as be world class professional accountants". Mahreen
Khan,TV anchor and a well reputed motivational and self awareness
speaker/workshop leader emphasised on tutors' role in inculcating
professionalism in the students by adopting certain behaviour.

Monday, February 22, 2010

Press Release: CDC becomes ACCA Approved Employer

Press Release: CDC becomes ACCA Approved Employer

The Central Depository Company of Pakistan (CDC) has been registered as an
Approved Employer with the Association of Chartered Certified Accountants
(ACCA), the global body for professional accountants.

The registration process involved the assessment of CDC's standards for
staff training and development as well as overall learning environment at
the organization. This close relationship will indeed help CDC attract and
retain best talent in the field of Accounting and Finance and will also
provide an opportunity for existing CDC employees to receive credit for
their work experience. Currently there is a substantial number of ACCA
trainees working at CDC offices across Pakistan.

In an award presentation ceremony organized at the CDC office in Karachi Mr
Muhammad Hanif Jakhura, Chief Executive Officer, CDC Pakistan Ltd, said that
"The diversified businesses of CDC require highly skilled and qualified
professionals who have high moral and ethical values. It is through
organizations such as ACCA, that we expect to meet the rising need of
accounting and finance professionals".

Speaking at the occasion Mr Arif Masud Mirza, Head of ACCA Pakistan said,
"ACCA is excited about this strategic partnership formed with the only
depository company in Pakistan. Besides providing CDC with human talent,
ACCA Pakistan will support CDC in conducting researches and supporting them
in their diversified role through ACCA's thought leadership initiatives. He
further added that employers like CDC Pakistan Ltd. have a great impact on
businesses in Pakistan and ACCA is proud to be associated with them".

Mr. Aftab Diwan - Chief Operating Officer, Mr. Anwar Goplani- Head of Human
Resources, Mr. Kamran Ahmed Qazi - CFO and Company Secretary, Mr Fazal
Hussain Gaffoor - Chief Internal Auditor, Mr Ejaz Ali Shah General Manager
Marketing and Customer Support Services, CDC Pakistan, Mr. Haroon A. Jan -
Head of Business Development, ACCA Pakistan and Mr. Taimur Beiram Khan-
Business Development Manager, ACCA Pakistan were also present at the

Thursday, February 18, 2010

Press Release: Supporting Enterprise Growth

Press Release: Supporting Enterprise Growth

18 February 2010, ACCA Pakistan launched SME Survival Kit today at a local
hotel. The event was attended by a large number of SME owner managers, ACCA
members, policy makers and academics. Participants expressed opinion on
managing survival challenges by obtaining professional advice, exploring
informal sources of finance, thinking innovatively, seeking marketing
opportunities outside Pakistan and having reliable and relevant accounting

"Acknowledging the enormous economic importance of SMEs to national
development, employment creation, role in supply chain and promoting
entrepreneurial innovation, ACCA SME Survival Kit provides practical
guidance on managing challenges including access to finance, succession
planning and business development," said Mr. Shahid Rashid, CEO SMEDA at
ACCA discussion forum. He further said that effective working capital
management, maintenance of reliable accounting records, timely succession
planning and innovative business development will stimulate SME growth.

Dr Afra Sajjad, Head of Education and Policy Development, elaborating ACCA
SME agenda stated, "The vital economic importance of SMEs, which invariably
account for the great majority of businesses in both developed and
developing economies, needs to be recognised by governments, other agencies
and support bodies. Regulators need to 'think small first' when developing
business rules, rather than adapting rules intended originally to be used by
multinationals operating in the world's capital markets. SMEs need 'the
complete accountant' in their organisations to add value to the financial
health and sustainable development of the company: accountants versed in
financial reporting, management accounting, broader strategic skills and

Mr Zafar Iqbal Chaudhry, President, Lahore Chamber of Commerce and Industry
stated that due to the paramount importance of SMEs to the economic growth
of Pakistan, the government and the private sector need to enable SMEs
achieve their potential of being the backbone of the country's economy.

Mr Hamid Ikram, Chairman, SME sub-committee ACCA Pakistan stated that ACCA
SME sub-committee along with other relevant stakeholders is working on
enhancing the accounting, bookkeeping and taxation knowledge and expertise
of SME owner managers to increase transparency in their reporting procedures
that would enable them to obtain easy and cost -effective finance.

Mr Hassan Yasser, Assistant General Manager SME Department, Bank Alfalah
Limited stated that access to finance is a critical challenge for SMEs and
banks are working in partnership with SMEs to alleviate this challenge but
SMEs also will have to understand the importance of maintaining reliable
accounting records and nurturing working relationship with banks. Even
though the State Bank of Pakistan has tried to facilitate financing, SMEs
struggle to fulfil the basic information requirements and thus run into
problems in banks, and finally leave, very disappointed at not getting the
loan. Informal sources of finance will also have to be explored.

Saturday, February 13, 2010

Press Release: Launch of ACCA Pakistan SME Survival Kit

Press Release: Launch of ACCA Pakistan SME Survival Kit

Acknowledging the enormous contribution of the SME sector to the economic growth, the SME agenda is at the heart of ACCA's activities. ACCA Pakistan in partnership with stakeholders like Small and Medium Enterprise Development Authority (SMEDA) and local chambers has been focusing on enhancing accounting, bookkeeping and taxation skills and knowledge of SME owner managers. ACCA Pakistan SME sub-committee has commissioned an SME Survival Kit that aims to provide practical guidance to SMEs on managing challenges like access to finance, succession planning and maintaining reliable and relevant accounting records.

To formally launch the SME Survival Kit and deliberate over challenges common to SMEs, ACCA Pakistan is organising a DEBATE "SME Survival Kit: Supporting Enterprise Growth" at the Pearl Continental Hotel Lahore on 18 February 2010 at 1500 hours. The panellists include Mr Syed Salim Raza, Governor, State Bank of Pakistan, Mr Shahid Rashid, Chief Executive Officer, SMEDA, Mr Zafar Iqbal Chaudhry, President Lahore Chamber of Commerce, Dr Afra Sajjad, Head of Education and Policy Development, ACCA Pakistan and Mr Hamid Ikram, Chairman ACCA Pakistan SME sub-committee.

DEBATE will be featuring top management executives from banking and business community to share their views and reflections on the topic under discussion.