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Institute of Cost and Management Accountants of Pakistan

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Institute of Cost and Management Accountants of Pakistan
AbbreviationICMA Pakistan
FormationMay 23, 1951, 72 years ago
HeadquartersICMAP Building, ST-18/C ICMAP Avenue, Block 6 Gulshan-e-Iqbal, Karachi - 75300
LocationsU.A.E, KSA, UK, Canada, Australia, USA, Qatar
Campuses11
Coordinates24° 55' 10.63" N, 67° 5' 50.35" E
Membershipover 7,000
Official LanguageEnglish, Urdu
PresidentShehzad Ahmed Malik, FCMA
Vice PresidentMuhammad Yasin, FCMA
Executive DirectorAmir Ijaz Khan, FCMA
AffiliationsInternational Federation of Accountants (IFAC), South Asian Federation of Accountants (SAFA)
Studentsapprox. 15,000
Facebookhttps://www.facebook.com/icmapak
Websitehttps://www.icmainternational.com

The Institute of Cost and Management Accountants of Pakistan (ICMAP) is a professional accounting body offering qualification and training in management accountancy.

The Institute of Cost and Management Accountants of Pakistan was established in 1951 and was granted statutory status under the Cost and Management Accountants Act, 1966[1][2] for the regulation of the profession of Cost and Management Accounting. ICMAP is a full member of International Federation of Accountants[3] (IFAC), International Accounting Standards Board (IASB), Confederation of Asian and Pacific Accountants[4] (CAPA) and South Asian Federation of Accountants[5] (SAFA).

Presidents

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The following is a list of presidents of the institute:

Year Name Role Organization
1951–1955 Muhammad Shoaib Founder President, Finance Minister Finance Minister of Pakistan
1956–1962 Mumtaz Mirza Secretary Ministry of Finance, Govt. of Pakistan
1963–1965 Mushtaq Ahmed Controller & Auditor General Govt. of Pakistan
1966–1969 Muhammad Shoaib Founder President, Finance Minister Finance Minister of Pakistan
1970–1972 Iqbal Ahmed Secretary and Chief Accountant Sui Gas Transmission Company
1973–1975 Muhammed Yakub Secretary Ministry of Commerce, Govt. of Pakistan
1976–1978 Khurshid Ahmed Managing Director Pak Glass Ltd.
1979–1990 Riaz Ahmed Bokhari Controller & Auditor General Govt. of Pakistan
1991–1996 Mian Mumtaz Abdullah Chairman CLA (Now SECP)
1997–1999 Prof. Dr. Khawaja Amjad Saeed Pro-Vice Chancellor University of the Punjab
2000 M. H. Asif General Manager (Management Services) Sui Southern Gas Company Limited
2001 M. Ashraf Bawany Deputy General Manager Finance BOC Pakistan Limited
2002 Badruddin Fakhri Director (Finance & Admin) Pioneer Cement Limited
2003–2004 Sher Afgan Malik Director Adept (Pvt.) Ltd.
2005 Muhammed Rafi General Manager Finance Oil & Gas Development Company Ltd
2006–2008 Sher Afgan Malik Director Adept (Pvt.) Ltd.
2009–2011 Hasan A. Bilgrami President & Chief Executive Officer Bank Islami Pakistan Limited
2012–2014 Zia-ul-Mustafa Awan CFO & Business Administrator Expo Lahore (Pvt.) Limited
2015–2016 Kashif Mateen Ansari Chief Executive Officer Sachal Energy Development (Pvt) Limited
2016–2017 Mohammad Iqbal Ghori Director Strategic Planning & CFO Sadaqat Limited
2018-2022 Zia-ul-Mustafa Awan CFO & Business Administrator Expo Lahore (Pvt.) Limited
2022 – present Shehzad Ahmed Malik CEO SMNCO


Council members and government nominees

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The Council is a supreme decision-making body of the Institute. Being at the helm of affairs, it is responsible for overall management of the Institute. The Council performs its responsibilities under the Act and Regulations which authorizes it for managing resources /affairs of all kinds. The Council is for three years. It has twelve members, eight of whom are elected by the members of the Institute and four are nominated by the Government of Pakistan. The nominees usually belonged to Ministry of Finance (MoF), Securities and Exchange Commission of Pakistan (SECP), Auditor General of Pakistan (AGP), Federal Board of Revenue (FBR), State Bank of Pakistan (SBP) and any other government regulatory bodies.

The office bearers of National Council comprised of President, Vice President, Secretary and Treasurer, who are elected from amongst members of the Council. The President acts as Chief Executive of the Council. As of 2024, Council members of the Institute are as follows:

Office bearers

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  1. Shehzad Ahmed Malik, FCMA (President)
  2. Muhammad Yasin, FCMA (Vice President)
  3. Shaham Ahmed, FCMA (Honorary Secretary)
  4. Marryum Pervaiz, FCMA (Honorary Treasurer)

Council members

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  1. Ghulam Mustafa, FCMA CEO, Tariq Qazi Management Consulting (TQMC)
  2. Abdul Qayyum, FCMA CFO, Diamer Basha Development Company (Pvt.) Ltd. (WAPDA)
  3. Intzar Hussain, FCMA Finance Manager, Abu Dhabi National Paper Mill
  4. Azeem Hussain Siddiqui, FCMA Partner, Naveed Zafar Ashfaq Jaffery & Co

Government Nominees

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The current government nominees are

  1. Saleemullah, FCMA Deputy Governor, State Bank of Pakistan
  2. Abdul Rehman Warraich Commissioner, Securities and Exchange Commission of Pakistan
  3. Muhammad Kamran Shahzad, ACMA Deputy Chief Cost Accounts Officer, Finance Division Government of Pakistan
  4. (Vacant), Deputy Auditor General (Policy), Auditor General of Pakistan

Members

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ICMAP has over 7,000 members, out of which % working abroad.

Overseas members

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Region Number of members
Middle East & Gulf Countries %
USA & Canada %
Europe %
Australia %
Others %

Campuses

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Following are the cities in which campuses of ICMAP Institute of Cost and Management Accountants are located:

  • Karachi
  • Lahore
  • Islamabad
  • Faisalabad
  • Multan
  • Peshawar
  • Hyderabad
  • Quetta
  • Sukkur

Publications

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The Institute produces a diverse range of publications that cater to the needs of its members, students, and the wider professional community:

  • The official flagship journal of ICMAP – CHARTERED MANAGEMENT ACCOUNTANT
  • ICMA’s Students’ e-magazine
  • Newsletter

ICMA Pakistan's publications encompass a variety of formats, each serving a distinct purpose within the institute's ecosystem. The Chartered Management Accountant, the official journal of ICMA Pakistan, stands as a beacon of authoritative insights, published bi-monthly to keep professionals abreast of the latest trends and best practices in management accounting.

Complementing this is the institute's student-focused initiative, a bi-monthly e-magazine that provides a vibrant platform for students to share experiences, perspectives, and updates within the dynamic world of cost and management accounting.

To ensure a seamless flow of information, ICMA Pakistan issues a monthly newsletter, connecting the institute with its members and students. This newsletter acts as a chronicle of achievements, updates on events, and a conduit for important announcements, fostering a sense of community within the ICMA family.

International affiliations

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The ICMAP is a member of:

Overseas Branch Councils

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ICMAP has seven overseas branch councils.

  1. United Arab Emirates
  2. Kingdom of Saudia Arabia
  3. United Kingdom
  4. Canada
  5. Australia
  6. United Stated of America
  7. Qatar

See also

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References

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  1. ^ "ICMA PAKISTAN". www.icmap.com.pk. Retrieved 2016-12-19.
  2. ^ "act_n_regulations.pdf" (PDF). docs.google.com. Retrieved 2016-12-19.
  3. ^ "Pakistan | IFAC". www.ifac.org. Retrieved 2016-12-19.
  4. ^ "Confederation of Asian and Pacific Accountants (CAPA)". www.capa.com.my. Retrieved 2016-12-19.
  5. ^ "Member Bodies | South Asian Federation of Accountants". www.esafa.org. Retrieved 2016-12-19.
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