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CERTIFICATE
OF PRACTICE (COP)
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A member may apply to
the Council in form ‘D’ for a Certificate of Practice entitling
him/her to practice as a Cost and Management Accountant throughout
Pakistan. The application shall be addressed to the Secretary and shall be
accompanied by the requisite fee. If the applications granted by the
Council, the certificate under seal shall be issued in form ‘E’
subject to payment of the annual fee; the validity of the certificate
shall be extended from year to year by a certificate in writing by the
Secretary in form ‘F’.
A member in practice, on ceasing to be in practice, shall inform the
Secretary immediately of the fact of his/her having done so, but in any
case not later than one month from the date he/she ceases to be in
practice, and shall return the Certificate of Practice to the Secretary.
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Cost and
Management Accountant to practice
in
his individual Name:
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No Cost and Management Accountant who is not a member of a firm of
cost and management accountants shall practice under any name or style
other than his/her own name.
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Cost and Management Accountant in practice
not
to
engage in any other business or occupation:
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A Cost and Management Accountant in practice shall not engage in any
business or occupation other than the profession of cost and management
accounting unless it is permitted by a general or specific resolution of
the Council.
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Other
Functions of Cost and Management Accountants:
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Without prejudice to the discretion vested in the Council in this behalf,
a cost and management accountant in practice may act as liquidator,
trustee, executor, administrator, arbitrator, receiver, adviser or as
representative for costing, financial, company law and taxation matters or
may take up an appointment that may be made by Federal Government or
Provincial Government or a Court of Law or any other authority established
under law, or may act as the secretary of a company in his/her
professional capacity not being whole-time salaried employee.
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Guidelines:
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No member of the Institute shall be entitled to practice within Pakistan
unless he/she holds a certificate or practice granted by the Council.
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The council may grant a certificate of practice to a member of the
Institute who applies in the prescribed form and pays the prescribed
annual fee for such certificate.
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Every member holding certificate shall pay the annual fee for every year
which shall be due on the first day of July of that year.
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A certificate of practice shall be liable to be cancelled for default in
payment of the annual fee for any year.
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Members to be known as [Cost and Management
Accountants]:
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Every member of the Institute in practice shall, and every other
member may, use the designation of [Cost and Management Accountant]
No member of the Institute in practice using the designation of [Cost and
Management Accountant] shall use, whether in addition thereto or in
substitution, therefore any other costing designation:
Provided that nothing in this sub-section shall be deemed to prohibit any
such member from adding any other description or designatory letters to
his/her name, if entitled thereto, to indicate membership of such other
institute of accountancy whether in Pakistan or elsewhere as may be
recognized by the Council in this behalf, or any other qualification that
he/she may possess, or to prohibit a firm, all the partners of which are
members of the Institute in practice, from being known by its firm as
[Cost and Management Accountants].
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Requirement
for New Certificate of Practice
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Duly filled-in Form “D” |
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Duly filled-in Form “D-1” |
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Receipt of Fee
Rs. 2500/- |
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Proof of Payment of Annual Subscription |
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Minimum 3 years have been completed as ACMA |
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Member should not be of less than 25 years of age |
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Photocopy of Resignation from previous job, if
necessary |
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Submit a Declaration (section 3) |
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20 C.P.E. Hours for Local Member in a calendar
year |
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10 C.P.E. Hours in a calendar year
for members based at cities/towns beyond radius of 50 KM of
Karachi, Lahore and Islamabad |
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Requirement
for Renewal of Certificate of Practice
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Request for Renewal |
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Receipt of payment of Fee Rs. 2000/-. |
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Proof of payment of Annual Subscription |
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30 C.P.E. Hours in a Calendar Year |
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15 C.P.E. Hours in a Calendar Year (Members for
Remote Areas) |
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