Membership

Members

Eligibility Criteria

IFAP currently boasts a membership of 380 individuals, comprising Associates and Fellows (AFAs & FFAs), who work across various industries in both the public and private sectors. Our membership is steadily growing.

To become a member of IFAP, an individual must successfully pass the Final examinations conducted by The Institute of Forensic Accountants of Pakistan (IFAP). Additionally, they are required to gain practical experience, typically ranging from three to four years.

After passing the Final examination, a person can enroll as a Forensic Accounting Professional Affiliate-IFAP. Upon qualifying in the Final examination and acquiring three to four years of experience, they become eligible for admission as an Associate member, and can proudly use the designation "AFA" (Associate Forensic Accountant/Associate Forensic Auditor) after their name.

Senior Associate members may eventually progress to become Fellows. Upon admission as Fellows, they can use the distinguished letters "FFA" (Fellow Forensic Accountant/Fellow Forensic Auditor) after their name. It's important to note that only members of IFAP are authorized to use the titles Forensic Accountant/Forensic Auditor or the letters "FA" before or after their name.

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To become a member of The Institute of Forensic Accountants of Pakistan (IFAP), individuals must meet specific criteria, including:

Educational Qualifications (Academic and Professional)

i. Successfully passing the examinations outlined in the institute's constitution, as prescribed and approved by the Executive Council of IFAP, and subsequently gaining practical work experience.

ii. Providing documentary evidence, to the satisfaction of IFAP's Executive Council, that the applicant holds academic or professional qualifications in Accounting, Auditing, Forensic Accounting, Forensic Auditing, or related fields, equivalent to the institute's prescribed standards.

iii. If the applicant is a member of another professional Institute of Forensic Accounting and Forensic Auditing, whose examinations are deemed equivalent to IFAP's examinations.

Approved Practical Work Experience

i. Accumulating a minimum of five (05) years of practical work experience relevant to the specified requirements. This experience can include employment in a recognized Forensic Accounting and Forensic Auditing Department of a reputable business organization, as determined by IFAP's Executive Council.

ii. Graduates or Master's degree holders in Commerce or Business Administration from a recognized university may have their practical work experience requirement reduced by up to half a year at the discretion of IFAP's Executive Council.

iii. Meeting the age requirement of at least 23 years.

iv. Demonstrating conduct, experience, and suitability in alignment with the standards set and approved by IFAP's Executive Council."

Please note that meeting these conditions is essential for membership in IFAP.

Membership Benefits

Joining IFAP not only showcases your commitment to your profession but also enhances your professional standing and prospects in the field of Forensic Accounting.

How Membership with IFAP Benefits You?

Becoming a member of a professional organization like The Institute of Forensic Accountants of Pakistan (IFAP) communicates a strong commitment to your profession. Membership in IFAP conveys to employers that you:

  • Possess the Required Qualifications and Experience: You have the necessary educational background and practical experience in your field.
  • Demonstrate Competence: Your competence in performing essential roles and tasks in your workplace has been rigorously assessed throughout your journey to membership.
  • Commit to Continuous Development: You are dedicated to Continuing Professional Development / Continuing Professional Education (CPD/CPE) to stay updated with the knowledge and skills necessary for your role.
  • Uphold High Standards: You adhere to the elevated technical, ethical, and behavioral standards set by IFAP.
  • Enhance Earning Potential: Forensic Accounting professionals often enjoy some of the highest salary levels in the business sector. Membership in IFAP opens doors to opportunities that can help you achieve your career goals.

In summary, joining IFAP not only showcases your commitment to your profession but also enhances your professional standing and prospects in the field of Forensic Accounting.

What Membership with IFAP Offers You?

In addition to demonstrating your commitment, skills, and experience to potential employers, joining The Institute of Forensic Accountants of Pakistan (IFAP) provides you with:

  • Comprehensive Support: Access to a wide range of services designed to assist you in your professional role.
  • Enhanced Reputation: Membership in IFAP includes a credible quality assurance process that is recognized by employers and clients, boosting your reputation as a professional Forensic Accountant/Forensic Auditor (FA).
  • Internationally Recognized Qualification: IFAP offers an internationally recognized qualification in Forensic Accounting, Forensic Auditing, Forensic Investigation, Business Valuation Management, and Fraud Examination.
  • Active Participation: The opportunity to actively contribute, either directly or through your support of IFAP, in various advocacy and standards development initiatives, both within Pakistan and on the international stage.

In essence, IFAP membership not only supports your professional journey but also elevates your professional standing and opens doors to international recognition and engagement.

Comprehensive Member Services

Being a member of The Institute of Forensic Accountants of Pakistan (IFAP) offers you access to a community of diverse business professionals. This community provides opportunities for:

  • Mentorship and Support: Guidance and assistance from experienced professionals, along with valuable business advice.
  • Fellowship and Social Interaction: The chance to connect and socialize with like-minded professionals.

In addition to these advantages, IFAP membership includes:

  • A comprehensive program of continuous professional development activities to help you stay updated in your field.
  • Networking opportunities through an extensive branch network of members, facilitating valuable connections.
  • Access to online services, including an electronic library and search facilities, to support your professional growth and research needs.

IFAP membership not only connects you with a professional community but also offers valuable resources and opportunities for your career development.

Ensuring Quality and Trustworthiness

Members of the accountancy profession play a vital role in society as trusted experts in business. This role comes with certain responsibilities, including:

  • Upholding the highest standards of professionalism.
  • Achieving top-level performance.
  • Acting in the best interests of the public.
 

Our Code of Ethics sets our members apart from others who offer services to the public. It establishes a set of principles that guide our work. We train aspiring members in these principles, provide support to members in applying these standards, monitor the maintenance of high competence and ethical behavior, and have a structured process for addressing and resolving any complaints.

This commitment gives clients and employees strong reasons to choose our members over individuals who are not part of a professional body. It ensures that our members are known for their quality and integrity in serving the public.

Global Recognition

The Institute of Forensic Accountants of Pakistan (IFAP) is highly regarded internationally. Our members are acknowledged worldwide for their prestigious business designation and benefit from mutual membership privileges with prominent professional accounting organizations. This global recognition simplifies participation in the global economy, making it more accessible for our members.

Influencing Policy and Standards

Opportunities to shape decisions arise at various stages when governments and international bodies develop policies. The Institute of Forensic Accountants of Pakistan (IFAP) has played a significant role in contributing to policy development and setting high standards in Pakistan, the UK, USA, Canada, Australia, India, and globally. This contribution is made through credible and high-quality submissions, drawing on the knowledge and expertise of our members.

It's important to note that all of IFAP's advice is driven by the public interest rather than the interests of our members. This approach is essential for maintaining the institute's credibility.

Disqualifications and Restrictions

Joining IFAP not only showcases your commitment to your profession but also enhances your professional standing and prospects in the field of Forensic Accounting.

  • Individuals who are mentally incapacitated or of unsound mind.
  • Those who are insolvent.
  • Those who do not meet the required qualifications as outlined in the institute’s rules.
  • Individuals found guilty of actions that discredit the profession or professional misconduct by the institute’s disciplinary committee.
  • Individuals who have acted against the institute’s interests or violated any of its bye-laws, rules, or regulations.
  • Those who refuse or neglect to implement any decisions made by the Institute or its Executive Council.
  • Individuals who fail to pay their annual subscription or any other owed amounts to the Institute within twelve months from the due date.

Career Opportunities and Job Placement

The FA Program is designed to prepare candidates for successful careers in the field. This career-focused approach is integrated into various aspects of the program, including the curriculum, education methods, exams, and grading processes, with a focus on enhancing candidates' skills for new career prospects.

Placement Services

The Institute of Forensic Accountants of Pakistan (IFAP) offers an active placement program to assist Forensic Accountants (FAs) in finding suitable job placements. IFAP maintains ongoing connections with industry representatives through seminars, conventions, executive education programs, and other forums to facilitate FA placements.

As part of our placement efforts, the IFAP placement team visits potential employers and placement consultants annually to showcase the knowledge and practical skills acquired by FAs in various finance areas. The profiles of FAs seeking placement assistance are shared with potential employers, and the FA Membership Directory, which highlights FA profiles, is widely distributed among employers and placement agencies. We also organize placement meetings and workshops to support our members.

Career Guidance

All candidates enrolling in the FA Program receive career planning guidance as they advance through the program levels. Workshops and career support help candidates prepare for job placements and improve their prospects. IFAP believes that successful job placement is a collaborative effort, with IFAP offering guidance, support, and networking opportunities, while candidates are responsible for putting in their best efforts to secure suitable job placements.

Process of Becoming a Member

To become a member of The Institute of Forensic Accountants of Pakistan (IFAP), certain conditions specified in the institute's constitution must be met. The following procedure outlines the application process and the obligations upon admission:

  • Application Submission: Individuals seeking membership must submit an application using the prescribed form and pay the required fee. Additionally, they should provide any information requested by the IFAP Executive Council.
  • Membership Undertaking: Applicants must commit, upon applying for membership, to adhere to the institute’s regulations and bye-laws for as long as they are members. They also agree not to use the professional designation or membership letters once they are no longer members.
  • Admission Decision: The IFAP Executive Council holds the discretion to accept or reject membership applications, within the boundaries of institute regulations and bye-laws. The council’s decision is final, and no reasons need to be provided for rejection.
  • Membership Certificate: Every member will receive a Membership Certificate in the prescribed format. These certificates remain the property of IFAP, and members must return them to the institute if they cease to be members for any reason.

Usage of Designatory Letters

Upon meeting the conditions outlined in the Constitution/Articles of Association, individuals granted membership in The Institute of Forensic Accountants of Pakistan (IFAP) are eligible to use the following designations and associated letters:

1. Associate Member (AFA)

Individuals who meet the conditions specified in the institute's Constitution/Articles of Association can become Associate Members. They are allowed to use the letters AFA (Associate of The Institute of Forensic Accountants of Pakistan) after their name.

2. Fellow Member (FFA)

Associate Members of the institute who have gained practical experience in Forensic Accounting and Forensic Auditing as described in the Constitution/Articles of Association, totaling at least five (05) years or more, are entitled to use the designation Fellow of The Institute of Forensic Accountants of Pakistan (IFAP). They can use the letters FFA (Fellow of The Institute of Forensic Accountants of Pakistan) after their name.

Committee's Authority

The Executive Council/Membership Committee holds the exclusive authority to approve or decline membership applications to the Institute, and they are not obliged to provide a reason for their decision. However, applicants have the option to appeal to the Executive Council/Membership Committee of the Institute, which may review cases if they deem it necessary.

This Executive Council/Membership Committee has the power to exercise any or all the rights granted to the Institute's Executive Council as outlined in the Constitution/Articles of Association. These powers include matters related to admitting members, handling suspensions, terminations, and establishing bye-laws in accordance with these provisions.