The Chartered Institute of Public Finance and Accountancy (CIPFA) and the Pakistan Institute of Public Finance Accountants (PIPFA) have today (12 October) signed a Memorandum of Understanding to advance high quality public financial management in Pakistan.
The MOU creates a basis for cooperation and collaboration between the two institutes which focuses on developing the accounting profession in Pakistan’s public sector to strengthen financial management.
The MOU will explore membership routes to give PIPFA members the chance to join CIPFA.
The signing ceremony took place today in Lahore with Rob Whiteman, Chief Executive of CIPFA, Rana Assad Amin, Auditor General of Pakistan, and Mohammad Maqbool, President of PIPFA.
Rob Whiteman, CEO of CEO, said:
“CIPFA and PIPFA are committed to serving the public interest and so it is a natural step for us to work together in this way to help build capacity in public financial management in Pakistan.
“Across the world, good governance is becoming a pressing issue for governments, as the public rightly expects greater transparency in the funding of public services.
“We will work with PIPFA to strengthen the public finance profession in Pakistan so it is in the best possible shape to deliver accountability for how public funds are spent.”
Mohammad Maqbool, PIPFA President, said:
“The signing of the MOU between the Pakistan Institute of Public Finance Accountants and the Chartered Institute of Public Finance and Accountancy in the United Kingdom is a new milestone in the history of accountancy in Pakistan and this initiative is expected to bring public financial management reforms in Pakistan and enhance the capacity of our national institutions engaged in public financial management and public sector audit functions.”
For more media enquiries contact the CIPFA press office on +44 (0)20 7543 5600 or email firstname.lastname@example.org.
The purpose of this Memorandum of Understanding (MOU) is to create a basis for cooperation and collaboration between CIPFA and PIPFA for the advancement of high quality public financial management in Pakistan through joint activity in a number of areas including:
The development of the Accounting profession in the public sector to strengthen public financial management in Pakistan;
The development of membership routes to support and strengthen the accounting profession and public financial management through PIPFA, in Pakistan;
Identify and collaborate jointly on capacity building projects on Pakistan, to strengthen the accounting profession and public financial management.
The Chartered Institute of Public Finance and Accountancy (CIPFA) is one of the leading professional accountancy bodies in the UK and the only one which specialises in the public services. It is responsible for the education and training of professional accountants and for their regulation through the setting and monitoring of professional standards.
Uniquely among the professional accountancy bodies in the UK, CIPFA has responsibility for setting accounting standards for a significant part of the economy, namely local government. CIPFA’s members work (often at the most senior level) in the public service bodies, in the national audit agencies and major accountancy firms. They are respected throughout for their high technical and ethical standards and professional integrity. CIPFA also provides a range of high quality advisory, information and training and consultancy services to public service organisations. As such, CIPFA is the leading independent commentator on managing and accounting for public money.
PIPFA is a body incorporated as a Non-profit Association under Section 42 of The Companies Ordinance, 1984. PIPFA is the premium national body for imparting professional accountancy education to the Public Sector of Pakistan besides a gateway professional accountancy education to the corporate sector. PIPFA as at March 2015, has over 6600 members and 29000 students, who it supports throughout their careers, providing services through a network of 04 own offices and 12 approved centres around Pakistan.
Both CIPFA and PIPFA, with their respective perspectives, strive to serve the public interest and thus are engaged in building confidence and capacity, and enhancing governance processes in public sector institutions. Both bodies have overlapping interests and are willing to share their expertise in furtherance of their common objectives. PIPFA is acknowledged to be sponsored by three bodies including: ICAP – Institute of Chartered Accountants of Pakistan, ICMAP – Institute of Cost & Management Accountants of Pakistan, and AGP – Department of Auditor General of Pakistan.