CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people in public finance. CIPFA leads the way in public finance globally, standing up for sound public financial management and good governance around the world as the leading commentator on managing and accounting for public money.

Rob Whiteman, CIPFA CEO, in a special message to PIPFA Members said:

“CIPFA and PIPFA are both committed to serving the public interest and so it is a natural step to renew our MoU for us to continue the momentum to help build capacity in public financial management in Pakistan. As with ICAP, and with PIPFA we will work to enhance capabilities within public finance in the country to ensure they are in the best possible position to comprehensively account for its public purse.”

This Memorandum of Understanding (MOU) has been signed with few new features including a reduced CIPFA Membership fee for new registration and for continuation of CIPFA Affiliate Membership. The purpose of signing the 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;

Objectives and principles

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, but not limited to:

1. The development of the Accounting Profession in the public sector to strengthen Public Financial Management in Pakistan;
2. The development of membership routes to support and strengthen the accounting profession and public financial management through PIPFA, in Pakistan;
3. Identify and collaborate jointly on capacity building projects on Pakistan, to strengthen the accounting profession and public financial management, collaborating jointly in conducting PFM Conferences for local students, holding various short courses for students of CIPFA and PIPFA on IPSAS and other relevant topics;
4. Collaborating jointly to hold PFM conferences, preferably with PIPFA and its sponsoring body (under agreement with CIPFA), for PIPFA members and government staff and other members of professional bodies;
5. Propose, develop and implement relevant short courses on relevant topics for PIPFA members and government staff;
6. Engagement to identify further opportunities in the future.

• Route to CIPFA Membership
• CIPFA membership is a recognized symbol of professional excellence which influences public financial management worldwide. PIPFA members joining the CIPFA network will build on existing skills and training to keep them up to date with the latest developments in public finance, gain accreditation and get access to a range of products and services to enhance knowledge, skills and career development. CIPFA has identified the following route for PIPFA members to get recognized for their experience and training in the public sector.
• CIPFA Affiliate Membership:

Full members of PIPFA in good standing, working in the “public sector” can be offered the CIPFA Affiliate Membership designation. This is based on four exemptions being awarded from the CIPFA International Public Financial Management qualification.

• PIPFA members should complete the online application form and submit their CV which will be assessed for their “public sector” experience via the CIPFA membership committee, to award CIPFA Affiliate Membership.
• PIPFA members applying for CIPFA Affiliate Membership will pay no exemption fees and are exempt from our workplace practical experience requirements up to the level of CIPFA Affiliate Membership.
• CIPFA full membership can be sought by PIPFA members through completing the remaining papers in the CIPFA qualification. Additional exemptions may be awarded based on PIPFA options taken, and upon proof of successful completion.
• Proposed benefits for CIPFA Affiliate Members will include:
• Member access to CIPFA website materials.
• Access to Management Direct online support tool developed by CIPFA and CMI (Chartered Management Institute) including videos, e-learning modules, checklists, articles and e-books.
• Access to our member technical enquiry service.
• Member discounts on training and publications.
• Access to online e-learning.
• Receive twice weekly Public Finance International e-newsletter.
• Online access to Public Money and Management publications.
• Public sector – Definition
• Public sector is broadly ‘Government’, including either National, Provincial, Local level, and any organisation that provides or works with public services. And any organisation or body that is:
• owned or controlled by government or in which a ‘Government’ has an interest of above 20%
• supervised directly or indirectly by ‘Government’ and not trading for profit
• funded wholly or substantially by ‘Government’
• supplying utility services
• supplying services, subject to price regulation, either immediate or potential, by a statutory body
• wholly or largely concerned with auditing, supervising or funding public service bodies
• administering or supervising the administration of pension, insurance or superannuation schemes established primarily for officers and employees and dependants of officers and employees of ‘government’ or body or organisation referred to above
• other such public bodies or organisations may, from time to time, be recognised by the CIPFA Council as public sector.
• Fees for CIPFA membership
• The membership fee for PIPFA members (both Associate and Fellow members) for CIPFA membership is GBP 39 (discounted rate). The payment made through credit card is encouraged and payment to be made in GBP.
• CIPFA International Public Financial Management qualification
• The following CIPFA papers will be awarded as exemptions to members of PIPFA. Any additional exemptions will be awarded subject to amendments to the PIPFA qualification and module choices.
• Company Financial Reporting
• Audit and Assurance
• Financial Accounting
• Management Accounting
• The additional exemptions in following subjects are available to individuals who have successfully completed these PIPFA equivalent subjects;
• Strategy and Policy Development
• Public Service Financial Reporting
• Business and Change Management