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TEXT: Institute of Cost and Management Accountants (ICMA) of Pakistan is one of the leading professional accounting organizations, established in 1951 and granted statutory status in 1966 under an Act of Parliament for the regulation of the profession of Cost and Management Accountants in Pakistan.

Currently, the Institute has approx. 7500 members within Pakistan and abroad and more than 17,000 students. The Institute is a founding member of International Federation of Accountants (IFAC), Confederation of Asian and Pacific Accountants (CAPA), South Asian Federation of Accountants (SAFA), the only current participant of Value Reporting Foundation (VRF) and International Corporate Governance Network (ICGN).

President of Pakistan was the Chief Guest at ICMA Members' Convocation 2022 at Aiwan-e-Sadr, Islamabad

H.E. Dr. Arif Alvi, President Islamic Republic of Pakistan was the Chief Guest at the ICMA Members' Convocation 2022 held on October 26, 2022, at Aiwane-Sadr, Islamabad. In his address, the President commended ICMA for producing management accountants and hoped that the graduating members would provide leadership to help the Government in the documentation of the economy, discourage tax avoidance, curb corruption and in generating tax revenues.

ICMA organized a National Budget Conference 2023-24 at Islamabad

ICMA organized the National Budget Conference 2023-24 in Islamabad on the day following the Budget announcement by Finance Minister Mr. Ishaq Dar on June 9, 2024, in Parliament. The conference served as a valuable platform for industry leaders, policymakers, and professionals to discuss the pros and cons of the budget, the challenges faced by the national economy, and the way forward. Mr. Shehzad Ahmed Malik, President of ICMA, welcomed the participants and highlighted the key points from the National Budget 2023-24. He commended the proposed measures in the budget and congratulated the Finance Minister and his team for presenting a reasonable budget during these challenging times.

The distinguished speakers at the conference included Dr. Abid Qayyum Suleri, former Member of the Prime Minister's Economic Advisory Council/National Economic Advisory Council, Mr. Sharif Uddin Khilji, Mr. Naeem Uddin, Mr. Ather Saleem, Mr. Awais Yasin, Mr. Muhammad Shahid Sadiq, Mr. Sohail Altaf, Mr. M. Bilal Khan, and Mr. Shan Muhammad. Additionally, Mr. Ashfaq Yousuf Tola, Minister of State and Chairman of the Reforms and Resource Mobilization Commission, also addressed the audience. The conference witnessed a significant turnout from both the member and business communities. Prominent organizations such as NESCOM, AWT, OGRA, and the Ministry of Finance were well-represented, with their respective members also in attendance.

Conference on Role of Banking Sector in Business and Economic Growth of Pakistan

ICMA in collaboration with National Institute of Banking and Finance (NIBAF) organized a Conference on the 'Role of Banking Sector in Business and Economic Growth of Pakistan' on December 02, 2022 at Karachi. The Conference was attended by a large number of eminent banking and business professionals. Mr. Jameel Ahmed, Governor State Bank of Pakistan grace the event with his presence as Chief Guest. Mr. Shehzad Ahmed Malik, President ICMA and Mr. Riaz Nazarali Chunara, Managing Director, NIBAF participated as guest of honor. The Governor SBP said that digital transformation in banking system of Pakistan is growing at fast pace, however, large cushion is available. He said that Islamic banking system offers huge growth opportunity. SBP Governor reaffirmed support to Shariah-compliant banking. Mr. Shehzad Ahmed Malik, President ICMA emphasized that a major challenge for banks across the globe was adapting to innovation. Mr. Awais Yasin, Chairman CPD Committee, expressed his gratitude to all the speakers, panelist and participants.

Governor Punjab was the Chief Guest at the ICMA Conference on ‘Artificial Intelligence and Digital Transformation' in Lahore

Mr. Muhammad Baligh Ur Rehman, Governor Punjab was the Chief Guest at the ICMA Conference on ‘Artificial Intelligence and Digital Transformation’ organized by the National CPD Committee of ICMA on February 28, 2023 at Lahore. The hon’ble Chief Guest was welcomed by Mr. Shehzad Ahmed Malik, President ICMA. Mr. Zia ul Mustafa, Chairman Strategic Board ICMA; Mr. Awais Yasin, Honorary Treasurer and Chairman National CPD Committee ICMA; Mr. Abdul Razzaq, Chairman Lahore Branch Council (PBC); Mr. Ghulam Abbas, Chairman CPD Committee LBC and Mr. Muhammad Yasin, Former Honorary Secretary, ICMA were also present on the occasion.

Chief technology experts, senior management from PITB, MCB, BOP, FPCCI, Systems Ltd., LESCO, Khudi Ventures, IT Consultants, and senior members of ICMA were well represented at the meeting. All participants agreed that technological innovation has favorably impacted and transformed businesses of all sizes around the world, and that digital transformation and automation can help them achieve a competitive advantage. The use of AI technology is becoming more common, and it has already transformed various industrial processes, e-learning techniques, financial modeling, and medical imaging.

ICMA organized an 'International Convention of Accountants (ICA)' at Bhurban Ms. Asmaa Resmouki, President IFAC was the Chief Guest on the occasion

ICMA organized a n 'International Convention of Accountants (ICA)' on March 18 and 19, 2023 at PC Bhurban. Ms. Asmaa Resmouki, President, International Federation of Accountants (IFAC) was the Chief Guest on the occasion. The underlying motive of hosting this event was to assemble the professional accounting fraternity from around the globe and provide them a platform to deliberate upon the emerging challenges the profession is today beset with and come out with a 'way forward', especially in the context of the possible role of the accountants and finance professionals in providing solutions to business enterprises and global policymakers.

The two-day convention covered not only keynote presentations by learned speakers but also interactive panel discussion sessions that deliberated upon the emerging role of accountants in sustainability and ESG reporting, technology transformation, climate change, and national economic development.

Copyright Business Recorder, 2023

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