MEMBERSHIPS

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Membership Criteria

IFAP has present 289 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

Eligibility Criteria

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.

Disqualifications and Restrictions on Entry

Persons suffering from natural, legal, educational or other disabilities shall be considered disqualified for the membership of the Institute and the Executive Council is empowered to exercise absolute authority in imposing such restrictions on the entry of persons as it deems necessary and appropriate in case of following applicants for membership who:-

i. Are insane or of unsound mind,
ii. Are insolvent,
iii. Are not properly qualified as required under the rules of the Institute.
iv. Have been found guilty of any act discreditable to the profession or professional misconduct by the disciplinary committee of the Institute.
v. Have been working against the interest of the Institute or otherwise found guilty of infringing any of the bye-laws, rules and regulations of the Institute,
vi. Refuses or neglects to give effect to any decision of the Institute or of the Executive Council of the Institute.
vii. Fails to pay the annual subscription or any other amount due by him/her to the Institute within twelve months from the date such debt has become due.

Conferment of Membership and Certificate

Membership of The Institute of Forensic Accountants of Pakistan (IFAP) is conferred upon fulfilment of the conditions described in the constitution of the Institute, but nevertheless the following procedure must be followed for applying which also includes the conditions binding upon the applicant on admission as a member:-

i. A person seeking admission to membership of the Institute shall make an application in the prescribed form along with the amount of requisite fee payable and shall also provide the Executive Council with such other information as may be required by the Executive Council of the Institute.

ii. Every person upon applying for admission to membership sign an undertaking that he/she will, if admitted, so long as he/she is a member, duly observe the regulations and the bye-laws of the Institute for the time being in force and that he/she will not use the professional designation nor the designatory letters denoting his/her membership of the Institute except while he/she remains a member of the Institute.

iii. The Executive Council of the Institute shall have full discretion subject only to those regulations and the bye-laws to accept or reject all applications for admission to membership. The Executive Council’s decision shall be final and it shall not be liable to give any reasons therefore.

Every member shall be entitled to a Certificate of Membership in the form prescribed. All membership certificates issued by the Institute shall remain the property of the Institute and the
holder of a membership certificate is bound to return the said membership certificate to the Institute on his/her ceasing to be a member of the Institute for any reason whatsoever.

Designatory Letters and their use

Subject to fulfillment of conditions laid down in the Constitution/Articles of Association, persons admitted to the membership of The Institute of Forensic Accountants of Pakistan (IFAP) shall be eligible to use the following designation and the designatory letters except as otherwise provided:-

Associate Member (AFA)
A person may be admitted as an Associate Member if he fulfills the conditions laid down in the Constitution/Articles of Association of the Institute shall be entitled to use the designatory letters AFA (Associate of The Institute of Forensic Accountants of Pakistan).

Fellow Member (FFA)
An Associate Member of the Institute who has attained the practical Forensic Accounting and Forensic Auditing experience described in the Constitution/Articles of Association of the Institute aggregating to at least five (05) years or more shall be entitled to use the designation Fellow of The Institute of Forensic Accountants of Pakistan (IFAP) and shall be entitled to use the designatory letters FFA (Fellow of The Institute of Forensic Accountants of Pakistan (IFAP).

Membership Fees and Annual Subscription as a Member

Class of Members

For National / Local Members

Associate Members

Fellow Members

For Overseas Pakistani Members

Associate Members

Fellow Members

For International / Foreign Members

Associate Members

Fellow Members

Admission fee

 

Rs. 10,200

Rs. 10,200

Rs. 15,200

Rs. 15,200

US $ 200

US $ 250

Annual Subscription 

 

Rs. 4,800

Rs. 4,800

Rs. 4,800

Rs. 4,800

US $ 75

US $ 100

Powers of Executive Council/Membership Committee to accept or reject applications for Membership

The Executive Council/Membership Committee is vested with the absolute power to accept or reject any application for membership of the Institute without assigning any reason. However,
an appeal could be made by the applicants to the Executive Council/Membership Committee of the Institute who may if it deems necessary reconsider cases referred to it for revision. This
Executive Council/Membership Committee is empowered to exercise any or all powers vested in the Executive Council of the Institute described in the Constitution/Articles of Association of the Institute dealing with the admission of members and all matters relating to suspension, termination thereof and framing of the bye-laws under these provisions.

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