IFAP At Different Levels
IFAP as a Professional Institute/Body
In Pakistan, there is no other institute like The Institute of Forensic Accountants of Pakistan (IFAP) that provides a comprehensive Professional Membership/Certification Program in Forensic Accounting and Forensic Auditing. IFAP stands as a distinguished Professional Institute/Body dedicated to offering professional education and training in these specialized fields.
Here's why IFAP stands out:1. Independent Statutory Status: IFAP operates independently with its own legal status, eliminating the need for affiliation with any university or education board.
2. Professional Membership/Certification: IFAP awards professional membership/certification to individuals who meet the rigorous examination and eligibility criteria set by the institute.
3. Postgraduate Programs: IFAP offers postgraduate and post-masters level programs in Forensic Accounting and Forensic Auditing, maintaining high examination standards.
4. Practical Experience: IFAP emphasizes the acquisition of practical working knowledge and relevant experience in Forensic Accounting and Forensic Auditing, as approved by the Institute's Executive Council.
5. Code of Professional Conduct: The institute enforces a stringent Code of Professional Conduct and Ethics for both its members and students.
IFAP as an Examining Body
IFAP aligns with the international standard followed by many Professional Institutes/Bodies, focusing primarily on conducting examinations as a vital aspect of its educational approach. However, in addition to being an Examining Institute/Body, IFAP is committed to establishing a robust educational framework and providing various support services.
In simpler terms, while our core function involves organizing examinations, we also strive to offer a comprehensive educational environment and additional resources to ensure our members receive a well-rounded educational experience.
Executive Council of the IFAP
The IFAP's Executive Council is composed of distinguished individuals, including educators, professional accountants, lawyers, bankers, management consultants, corporate practitioners, tax advisors, and experts in forensic accounting and auditing. These members are highly respected in their respective fields.
The Executive Council holds full executive authority to oversee IFAP's operations, led by the Secretary/Chief Executive Officer. Additionally, the Executive Council has appointed specialized committees to handle routine functions, but for major policy decisions, it remains the ultimate authority.
The decisions made by IFAP's Executive Council are absolute, final, and cannot be contested. They also possess discretionary powers to handle specific cases as needed.
Leadership Roles in IFAP
IFAP has key office bearers who play crucial roles as defined in the institute's constitution:
1. President
2. Vice President
3. Secretary/Chief Executive Officer
4. Executive Council Members
The President, or in their absence, the Vice President, serves as the official head of IFAP according to the constitution. The Secretary/Chief Executive Officer holds the executive leadership role within the institute, as specified in the constitution."
IFAP's Special Committees
The Institute's Executive Council has established specific committees to carry out various functions outlined in the constitution. These committees include:
1. Research, Development & Publication Committee2. Examinations / Exemption Committee
3. Education Committee
4. CPD Committee
5. Member's Affairs Committee
6. Public Relations Committee
7. Disciplinary and Regulations Committee
8. Technical Support & Practice Committee
9. Marketing & Communication Committee
10. Counselling & Placement Committee
11. Legals Affairs Committee
12. Finance and Budget Committee
Each of these committees is led by a Chairman chosen by the Institute's Executive Council.
The Institute of the Future
In today's rapidly evolving world, continuous learning and skill enhancement are essential. With the internet and fierce competition shaping our environment, globalization, economic liberalization, and technological advances have created both challenges and opportunities. To navigate this landscape, The Institute of Forensic Accountants of Pakistan (IFAP) takes an innovative and forward-thinking approach. Our Forensic Accountant/Forensic Auditor (FA) Program is designed to equip you not only with the skills needed today but also for the challenges of tomorrow.
In research, publications, and all our activities, IFAP remains forward-looking. We are committed to staying updated with the latest developments and aligning our plans and strategies with the evolving needs of society.