A venerated ceremony was held on August 17, 2015 at Pakistan Audit & Accounts Academy, Lahore for signing of MOU.
President PIPFA & Regional Director CIMA inked the MOU. Mrs. Rozina Muzammil, Executive Director PIPFA & Ms. Javaria Hassan, Head of Pakistan, CIMA signed MOU as
Mr. Shahzad Raza Syed (Secretary PIPFA & Director General, Pakistan Audit & Accounts Academy), Mr. Sajid Hussain, Member BOG and delegations from CIMA and Pakistan Audit &
Accounts Academy, Lahore were few of other dignitaries of the event.
KEY HIGHLIGHTS OF MOU:
EXEMPTIONS FOR PIPFA STUDENTS AND MEMBERS
- CIMA agrees to the following exemptions for PIPFA candidates who have successfully passed the final examination of the PIPFA syllabus and have been admitted as a member:
(a) Complete Exemption from Certificate Level comprising of the following 5 Papers:
- Paper C01 - Fundamentals of Management Accounting
- Paper C02 - Fundamentals of Financial Accounting
- Paper C03 - Fundamentals of Business Mathematics
- Paper C04 - Fundamentals of Business Economics
- Paper C05 - Fundamentals of Ethics, Corporate Governance and Business Law
(b) Exemptions in following papers in 2015 CIMA Professional Qualification:
PIPFA Members coming through the route given above will pay a registration fee of GBP 40.
PIPFA Members will be given the exemption fee waiver when applying for exemptions in the subjects mentioned above.
- E1 – Organizational Management
- P1 – Management Accounting
- F1 – Financial Reporting and Taxation
JOINT INITIATIVES AND COOPERATION
Parties will exchange study material developed by each Institute and assist in the development of study materials. Copyright of each Institute’s work shall be maintained at all times.
Parties will assist and cooperate in conducting applied research on management accounting and related areas through an appropriate mechanism with focus on contemporary
Parties agree to exchange publications and also permit each body to publish articles in their own journal/magazines/newsletter with due acknowledgement to the source of the article.
CIMA will share the thought leadership outputs with PIPFA.
To invite, support, attend and conduct seminars, conferences and joint activities mutually beneficial to both parties with focus on contemporary areas.
Parties agree to ensure the high ethical standards of the profession and its members.
The two institutes agree to work towards allowing appropriate access linkage to the websites of their Institutes from their own websites.
The two institutes agree to share the developments in the areas of common interest at the International Level including interaction with UN and other Regional / International /
Multinational bodies and Institutes.
Parties agree to engage in any other activity mutually acceptable to the governing council board of the two institutes.
13. No binding legal relationship will come into effect between the Parties. The matters referred to in the MOU are based only on the present mutual intentions of the parties and will
not create liability on either side.