IFAP has present 315 members including Associates and Fellows (AFAs & FFAs) who are working in industry, trade and services in both public and private sectors. The membership of IFAP is rapidly increasing. A person desirous of becoming a member of the Institute is required to pass the Final examinations conducted by The Institute of Forensic Accountants of Pakistan (IFAP). He is further required to possess practical experience ranging from three to four years. A person after passing the Final examination may enroll as Forensic Accounting Professional Affiliate-IFAP. After qualifying in the Final examination and acquiring three to four year experience, he is eligible to be admitted as an Associate member and can use the letter “AFA” (Associate Forensic Accountant/Associate Forensic Auditor) after his name to indicate that he is an Associate. Senior Associate members may be entitled to become Fellows and on admission can use the letter “FFA” (Fellow Forensic Accountant/Fellow Forensic Auditor). No person except a member of the Institute can use the designation Forensic Accountant/Forensic Auditor or use the letters “FA” before or after his name.
The membership of The Institute of Forensic Accountants of Pakistan (IFAP) could be obtained subject to fulfilment of the following conditions as to:-
a. Educational Qualifications (Academic and Professional)
i. By passing the prescribed examinations as laid down in constitution of the Institute, prescribed and approved by the Executive Council of the Institute and thereafter acquiring the practical job experience or
ii. By submission of the documentary evidence to the satisfaction of the Executive Council of the Institute that the applicant for membership holds such academic or professional qualifications of Accounting, Auditing, Forensic Accounting, Forensic Auditing and practice and the related subjects as the Executive Council considers equivalent to the prescribed qualifications and standards of the Institute, or
iii. If the applicant for membership is a member of another professional Institute of Forensic Accounting and Forensic Auditing whose examinations are considered by the Executive Council to be equivalent to the examinations of the Institute.
b. Approved Practical Job Experience
i. If the applicant for membership has gained not less than five (05) or more years practical job experience of the type prescribed, such experience may include his period of service as an employee in the regularly constituted Forensic Accounting and Forensic Auditing Department of a business organization of good standing so recognized by the Executive Council of the Institute.
ii. If an applicant for membership is graduate or master of Commerce or Master of Business Administration of a recognized University, the Executive Council may reduce by not more than half year the period of practical job experience mentioned in constitution of the Institute.
iii. If the applicant for membership has attained the age of 23 years.
iv. If the general conduct, experience and suitability of the applicant for membership are in accordance with the standards prescribed and approved by the Executive Council of the Institute.