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CRITERIA
FOR CERTIFICATE OF PRACTICE
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The section 6 of the Cost & Management Accountants Act 1966 provides
for Certificate of Practice. The section reads:
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No member of the Institute shall be entitled to practice within Pakistan
unless he holds a certificate of practice granted by the Council.
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The Council may grant a 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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Every member holding a certificate shall pay the annual fee for every year
which shall be due on the first day of July of the 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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The relevant provision of Regulations are contained in Regulation No. 8
which read
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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 requite fee. If the application is granted
by the Council, the certificate under seal shall be issued in form `E’
subject to the 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’
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A member in practice, on ceasing to be in practice, shall inform the
Secretary immediately of the fact of his having done so, but in any case
not later than one month from the date he ceases to be in practice, and
shall return the Certificate of Practice to the Secretary.
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It is obvious from the word “may” used in section (6) that the
discretion to grant a Certificate of Practice rests with National Council.
The National Council may therefore prescribe the requirements necessary
for approval of an application for Certificate of Practice within the
existing provisions of the Act and the Regulations. We propose that the
following conditions must be considered as essential for grant a
certificate of Practice.
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The Applicant must satisfy the following conditions of eligibility to
apply for a certificate
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He/she should be an Associate Member of the Institute
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He/she should have an experience of working in an organization acceptable
to the Council as a full time employee for atleast 3 years after being
admitted to the associationship of the Institute.
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He/she should not be of less than 25 years of age.
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He/she should not be engaged as a full time employee in any organization
or promises to resign from such employment as soon as his/her application
for Certificate of Practice is approved.
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In addition to the submission of application on Form `D’ as prescribed
by Regulation No. 8, he should fill in a form (say form-D-1) containing
the following information
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Does
he intend to practice independently or jointly with any other practicing
members. In case, he intends to practice jointly with any other member
full name and membership number of such member together with address
should be mentioned.
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The
name & style under which he will practice as a Cost & Management
Accountant
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The
address & telephone number etc of the proposed office premises:
- Address:
- Office Phone:
- Fax: E-mail:
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If
has not acquired an office or does not intend to acquire an office in near
future where he will operate from and what will be the address, telephone
number etc of such premises?
What type of facilities are available at such premises for
operating as a practicing member?
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What
is his present business, profession or vocation?
He should give full particulars of his present pursuit including
the name of employer, his designation and his job description?
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When
will quit his present business, profession or vocation if he is not
already engaged in an independent consultancy work?
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How
many & of what category of employees, he intends to employ to begin
with his practice. What type of furniture & fixture he intends to
procure for his office?
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When
does he intend to start his practice?
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In
what areas of professional interest, he intends to practice and why does
he consider himself to be competent to perform such type of work?
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In
addition to the above information, the applicant should submit a
declaration that
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During the period for which he hold the Certificate of Practice he will
not accept directly or indirectly any employment as a whole time or part
time employee and that he will not declare himself as a practicing member
of the Institute until he is relived from his employment and an actual
Certificate of Practice has been received by him
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The Council should normally approve an application for Certificate of
Practice if the applicant meets the conditions provided in para-1 above
and it is satisfied with the answers given in the form described in para-2
above. The Certificate of Practice, however, should not be issued until
the applicant produces a certificate that he has been released from his
employment
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Submitted as per decision in Agenda Item No. 2033 of the National Council
Meeting held on 23rd June, 2000
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