ACCA Pakistan Annual Network Meeting

ACCA Pakistan Annual Network Meeting

ACCA Pakistan organised Annual Network Meeting on Monday 29 March 2010
at Lahore.

The aim of the Meeting was to apprise the members of the activities of
the Members Network Panel and the sub-committees formed by the Members
Network Panel for the year ending 31 December 2009.
The Annual Network Meeting was an interactive session for members to
discuss significant developments on the accountancy and legislative
front that affect the profession. Annual Network Meeting lays the very
foundation of good corporate governance whereby the members exercise
their rights in advising, inquiring, and voting to ensure that
management acts in the best interests of the organization.
ACCA opines that networking at the Annual Network Meeting can provide
an excellent opportunity to share practical learning experiences that
can supplement members' knowledge, thereby contributing to members'
Continual Professional Development (CPD). ACCA also urges its members
to play an active role in ACCA network and panel activities, at both
regional and national levels.
Mr Asad Feroze, Chairman, Members Network Panel gave a presentation on
members network panel explaining international Assembly objectives,
programme and highlights. He also elaborated on the achievements and
work done by sub committees of the Members Network Panel.
Mr Arif Masud Mirza, Head of ACCA Pakistan gave a presentation on how
ACCA Pakistan engages with policy makers, members and business
community in Pakistan. He also highlighted the role of ACCA in
developing accounting profession in Pakistan.
Syed Mustafa Haider, Vice Chairman, Members Network Panel gave
presentation on opportunities available for members and also discussed
the vision for future. The members appreciated ACCA's innovative
efforts in making this meeting most interactive.

ACCA Pakistan expands its Approved Employer network

Press Release: ACCA Pakistan expands its Approved Employer network

ACCA Pakistan presented Approved Employer Certificate to Trans World
Associates Pvt Ltd in a ceremony held in Islamabad. ACCA's Approved
Employer Scheme plays a pivotal role in the recruitment, development
and retention of the ACCA members and trainees employed in the
approved organisations.

Trans World Associates (Pvt) Ltd. (Transworld), a joint venture of
Orascom Telecom, Saif Group, and Omzest Group and was setup in the
wake of the deregulation of the Pakistani Telecom sector with a
mandate to operate the first privately owned submarine fiber optic
cable system between Karachi - Pakistan, Muscat - Oman, and Fujairah -
UAE. Trans World Associates (Pvt) Ltd. (Transworld) is Pakistan's
first private submarine fiber optic cable operator, and is the only
company in Pakistan that owns and operates its own cable system called
TW1.

Speaking on the occasion Mr Iftikhar A Chaudhry, Chief Financial
Officer applauded the efforts of ACCA towards employer relationship
building. He said, "We understand the need for consistent training and
development and hope that this relationship with ACCA will go a long
way in helping us attract and shape the brightest minds in the
business."

Later Mr Haroon, Head of Business Development, ACCA Pakistan said
"ACCA's linkages with Trans World Associates will allow young talented
ACCA trainees and members to work in an important and growing sector,
build their knowledge and professional skills. We are very excited
about working with Trans World towards setting up a professional
training scheme under this partnership."

Press Release: ACCA Members recognised

ACCA Members recognised

12 March 2010: Association of Chartered Certified Accountants Pakistan held
an annual networking event for its members in Islamabad today at the Serena
Hotel providing a unique opportunity to build linkages within the ACCA
community and benefit from networking with leadership from well recognised
employers from the industry.

This Annual Networking event marked the celebration of ACCA as a successful
brand in Pakistan and appreciated the remarkable contribution of its members
towards the accountancy profession as leaders of innovation, research,
policy and practice. Speaking at the event Mr Junaid Ghouri, member of the
ACCA Pakistan Member's Network Panel commented that, "The ACCA members are
looked up to as leaders of the profession, driving the economy out of
challenging times such as these, advocating appropriate regulation, finding
innovative means to counter corruption and establishing best practices of
corporate governance and healthy environments."

The event featured an interactive video including ACCA's global leadership
in and their perspectives and recommendations about making ACCA a customer
focused accountancy body, ensuring that the ACCA community is 'fit for the
customer'.

Also part of the event was a live concert by STRINGS which was attended by
150 ACCA members and ACCA Approved Employers.

ACCA Pakistan connects with wi-tribe

Press Release: ACCA Pakistan connects with wi-tribe

Islamabad: wi-tribe, a Qtel Group Company, has announced its recognition by
ACCA Pakistan, as an Approved Employer at the Platinum level entailing
Professional and Trainee Development.

Under this program wi-tribe will receive a tailored package of services
designed to help attract, develop and retain high caliber accounting and
finance professionals. ACCA will provide account management support for the
development and retention of wi-tribe's finance professionals with the
assistance of a dedicated resource. Other benefits will include
participation opportunity in ACCA events and publications at national and
international level and cutting-edge research in this field.

"We are thrilled to be recognized by the ACCA for our efforts to train and
empower our workforce. The program will greatly benefit our financial
departments and help wi-tribe move into the future," said Sami Hinedi,
wi-tribe Group CEO.

wi-tribe will receive global recognition as an employer of choice,
demonstrating to the market, potential recruits and a commitment to
providing a higher standard of professional and career development.

The Platinum Level, being the highest tier of recognition, provides various
advantages to members also who are working with an Approved Employer.
Trainees will be exempt from the submission of Trainee Development
experience records; rather will only have to submit a declaration of being
employed by an Approved Employer.

The Approved employer program will assist both wi-tribe and ACCA in
understanding how to tackle key development issues of financial
professionals and facilitate sharing of best practices between the two
entities.

Access to finance for female entrepreneurs in Pakistan

Access to finance for female entrepreneurs in Pakistan

Female entrepreneurs need support of the government, the private sector, and most importantly finance providers, as they strive to satisfy their entrepreneurial instincts, and establish sustainable enterprises necessary for ensuring an equitable and economically successful Pakistan, states ACCA Pakistan’s exploratory report “Access to Finance for female entrepreneurs in Pakistan.” The report was launched at a launch event at a local hotel in Lahore. The Chief Guest of the launch event was Mr. Shahid Rashid, Chief Executive SMEDA. The launch event was also addressed by Mr. Arif Masud Mirza, Head of ACCA Pakistan, Dr. Shella Javed Ikram, President Women Chamber of Commerce, Mr. Javed Iqbal Marth, Deputy Chief Manager State Bank of Pakistan and Ms. Zoya Aliem Khan, CEO Zoya Herbal Workshop.

Dr. Afra Sajjad, Head of Education and Policy Development of ACCA presented the key findings and recommendations of the report. The report outlines access to finance as one of the main obstacles faced by female entrepreneurs as they try to establish a sustainable enterprise in the face of social and domestic constraints. The sources of seed capital for female entrepreneurs usually are personal savings, sale of personal jewels or loans from family and relatives. The growth potential of the enterprises is constrained by the unavailability of finance which mainly is due to reluctance of the female entrepreneurs to access bank finance. The major reasons for reluctance to access bank finance are fear of default, high interest rates, unpleasant experiences with the banks, difficulties in arranging collaterals and guarantors, lack of awareness of financing schemes, high risk averseness compared to men, social barriers and lack of an effective lobby. The report recommends that female entrepreneurs should adopt a proactive approach to learning about financing, maintain relevant and reliable accounting records and use the services of professional accountants, should consider refreshing or enhancing their accounting and finance skills by attending professional development courses of accounting and finance and build an effective lobby.

The report concludes that finance providers are of the opinion that specific characteristics of female-owned enterprises, for example innovative nature of the products, reluctance to hire the services of professional accountants, social and cultural constraints in establishing a working relationship with female entrepreneurs and inability to arrange a guarantor or collateral are reasons for reluctance of the finance providers to provide finance to female entrepreneurs. The report recommends that the State Bank of Pakistan will have to play a pivotal role in enabling greater access to finance for female entrepreneurs, by encouraging banks to design and advertise products customised to their needs and constraints and encourage banks to allocate amounts in the total lending portfolio for lending to female entrepreneurs. It should also encourage implementation of the State Bank of Pakistan Prudential Regulations relating to cash flow based lending. Banks should incorporate developmental objectives and focus on outreach in their vision, strategy and actions. The report concludes that public-private partnership is needed to overcome the barrier of access to finance for female entrepreneurs

ACCA Annual Members Dinner - Islamabad, Lahore, Karachi

ACCA Annual Members Dinner - Islamabad, Karachi, Lahore

Event: ACCA Annual Members Dinner - Islamabad

An exclusive musical evening with Pakistan’s top pop band STRINGS – the band of brothers that has gone beyond borders with its soul searching music. The concert will be precede by a networking dinner. A unique opportunity to share with your fellow colleagues; it is aimed to re-energise you for the upcoming challenges of your professional life. Indulge in the magic of Pakistani pop.

Book your place NOW!

Event details

ACCA Annual Members Dinner Islamabad
Date: 12 March 2010
Venue: Sheesh Mahal, Serena Islamabad

Date: 12 Mar 2010

Venue: Sheesh Mahal, Serena Islamabad.

To register please contact Sarah Jafri on sarah.jafri@pk.accaglobal.com or call on 0300 8526358 no later than 28 Feb.
This event is exclusively for ACCA members and their spouse


ACCA Annual Members Dinner Karachi
Date: 16 March 2010
Venue: Marquee, Marriot Hotel
To register please contact Taimur Beiram Khan on taimur.beiram@pk.accaglobal.comor call on 0300 8241412 no later than 12 March.This event is exclusively for ACCA members and their spouse
Date: 16 Mar 2010 Venue: Marquee, Marriot Hotel Karachi

Event details

ACCA Annual Members Dinner Lahore
Date: 19 March 2010
Venue: Crystal Ball Room, PC Lahore
To register please contact Muhammad Shahid Khan on email shahid.khan@pk.accaglobal.com or call on 0300 8475216 no later than 5 March.This event is exclusively for ACCA members and their spouse

Date: 19 Mar 2010

Venue: Lahore

Cost: CPD Units*:
*CPD Units are only verifiable if the event attended provides skills and/or knowledge relevant to your job or career aspirations. For further details please contact Sarah Jafri on +92 (0)300 8526358 or e-mail sarah.jafri@pk.accaglobal.com

Press Release: ACCA Pakistan awards certificate to Zarai Taraqiati Bank Limited (ZTBL)

Press Release: ACCA Pakistan awards certificate to Zarai Taraqiati Bank
Limited (ZTBL)

ACCA Pakistan presented Approved Employer Certificate to Zarai Taraqiati
Bank Limited (ZTBL) in a ceremony held in Islamabad.

ACCA's Approved Employer Scheme plays a pivotal role in the recruitment,
development and retention of ACCA members and trainees in the approved
organisations. As an approved employer, ZTBL will attain global best
practices on the front of learning and development of ACCA trainees and
members. In the current financial year, ZTBL will provide 50 internships for
ACCA trainees.

Mr Arif Masud Mirza, Head of ACCA Pakistan presented the award to Mr
Muhammad Zaka Ashraf, President ZTBL. Speaking on the occasion, Mr Arif
Masud Mirza said, "ACCA will work closely with ZTBL to train young
professionals to add value to the banking sector of Pakistan. He further
said that the internship opportunities provided by ZTBL during coming years,
through this scheme, will prepare financial experts for the country."

Later Mr Muhammad Zaka Ashraf applauded the efforts of ACCA towards employer
relationship building. He said, "Our main focus for future is on the
advancement of agro-technology and access to credit for farmers, aimed to
ultimately increase agricultural productivity of Pakistan." He added, "The
partnership with ACCA will indeed strengthen the Audit and Finance functions
of ZTBL."