IFAP AT DIFFERENT LEVELS
IFAP as a Professional Institute/Body
There is no Institute in Pakistan except The Institute of Forensic Accountants of Pakistan (IFAP) which offers Professional Membership/Certification Program on Forensic Accounting and Forensic Auditing. The Institute of Forensic Accountants of Pakistan (IFAP) is certainly a Professional Institute/Body which has embarked upon imparting professional education and training in Forensic Accounting and Forensic Auditing and its allied subjects, as it:-
- Enjoy independent statutory status and therefore, does not require affiliation with any University or Board of education.
- Confers professional membership/certification to those who qualify the prescribed conditions of examinations and eligibility for admission as members of the Institute (IFAP).
- Offers programs on Forensic Accounting and Forensic Auditing of post graduate and post masters’ level and has set sophisticated examination standards.
- Lays down attainment of practical working knowledge and prescribed experience of Forensic Accounting and Forensic Auditing work of the nature acceptable to the Executive Council of the Institute (IFAP).
- Has laid down strict code of Professional Conduct and Ethics for its members and students.
IFAP as an Examining Institute/Body
Considering the international practice of Professional Institutes/Bodies to restrict their activities to holding of examinations only as the major part of their educational policy, The Institute of Forensic Accountants of Pakistan (IFAP) also follows similar global tradition by remaining an Examining Institute/Body, although it also aims at providing comprehensive educational infrastructure and other facilities.
Executive Council of the Institute (IFAP)
The Executive Council of The Institute of Forensic Accountants of Pakistan (IFAP) consists of eminent educationists, Professional Accountants, Lawyers, Barrister at laws, Professional Bankers, Management Consultants, Corporate Practitioners, Tax Advisors, Forensic Accounting and Forensic Auditing Consultants of high calibre and persons of tangible repute.
The Executive Council of The Institute of Forensic Accountants of Pakistan (IFAP) is vested with the absolute executive power to manage and control the affairs of the Institute through the Secretary/Chief Executive Officer. The Executive Council of The Institute of Forensic Accountants of Pakistan (IFAP) has also delegated some powers to special high powered committees to perform Executive Council’s routine functions on their behalf. However, reference to Executive Council is essential on major policy matters.
The IFAP’s Executive Council’s decision are absolute and final in all matters and are not challengeable. It is also empowered to exercise discretionary powers in cases deemed appropriate.
Office Bearers of the Institute (IFAP)
The following Office Bearers whose powers, duties and functions have been fully described in the constitution of the Institute are as follows:-
- Vice President
- Secretary/Chief Executive Officer.
- Executive Council Members.
The President and in his absence the Vice President is the constitutional head of the Institute. The Secretary/Chief Executive Officer is the executive head of the Institute as provided in the constitution.
IFAP Special Committees
The Executive Council of the Institute has constituted the following Special Committees for the exercise of powers which the Executive Council is empowered to exercise under the constitution:-
- Education Committee.
- Examination Committee.
- Registration and Membership Committee.
- Disciplinary and Regulations Committee.
- Finance and Budget Committee.
Each of these committees is headed by a Chairman elected by the Executive Council of the Institute.
The Institute of the Future
Learning new skills and upgrading the existing ones are vital in today’s fast changing world of internet and intense competition. The challenges and opportunities that are emerging in the wake of globalization and liberalization of the economies worldwide and the new market forces created by technological advancements and electronic commerce call for innovative and futuristic approach to managing business. The Institute of Forensic Accountants of Pakistan (IFAP) recognizes the demands of the activities is two-fold: Mastering Today and Preparing for Tomorrow. This is well reflected in the Forensic Accountant/Forensic Auditor (FA) Program offered by The Institute of Forensic Accountants of Pakistan (IFAP) with contemporary and cutting-edge topics that impart knowledge and skills relevant not just today, but in the years ahead also.
In terms of research, publications and other activities also, The Institute of Forensic Accountants of Pakistan (IFAP) (IFAP) adopts a forward looking approach. The Institute of Forensic Accountants of Pakistan (IFAP) will continue to strive to stay in tune with the latest developments and design its plans and strategies according to the changing demands of the society.