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MEMBERSHIP
OF THE INSTITUTE
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A
person, on his/her name being entered in the Register, as an associate
and, so long as his/her name remains so entered, shall be entitled to use
the letters [ACMA] after
his/her name to indicate that he/she is an associate of the Institute.
The person, on his name being entered in the Register as a fellow of the
Institute and such person, so long as his/her name remains so entered,
shall be entitled to use the letters [FCMA]
after his/her name to indicate that he/she is a fellow of the
Institute.
A person who has been an associate for a continuous period of not less
than five years and who possesses such qualifications as the Council
prescribes may apply to the Council for admission as fellow; and if the
Council grants his/her application, his/her name shall be entered in the
Register as a fellow.
The
decision of the Council on an application for membership shall be final.
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Membership:
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The
following persons shall be entitled to have to their names entered in the
Register, namely:-
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Any
person who has passed such examination and completed such training
as may be prescribed for membership of the Institute. |
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Any
person who has passed such other examination and completed such
other training outside Pakistan as it is recognized by the Federal
Government, or by the Council with the approval of the Federal
Government, as being equivalent to the examination and training
prescribed for membership of the Institute and, in case he/she is
not permanently residing in Pakistan, fulfils such other conditions
as the Federal Government, or the Council with the approval of the
Federal Government, as the case may be, may deem fit to impose; |
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Privileges
of Members:
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You
can write ACMA/FCMA after your name. |
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You
may develop a career in Management Accounting. Management
Accountants grow fast in Manufacturing/Service Sector. Management and
Chartered Accountants have been declared at par for jobs in
government organizations. |
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Your
name will appear in Members Directory which is circulated widely in
corporate Pakistan and abroad. |
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You
will receive ICMAP monthly magazine “Management
Accountant” regularly. |
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You
will be entitled to library facilities. |
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You
can attend ICMAP sponsored courses and seminars at special subscription. |
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You
will be invited to annual events like Eid Reunion, Annual General
Meeting, Management Accountants Conference, Shoaib Memorial Lectures
etc. |
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You
can apply for Certificate of Practice only after becoming a formal
member. |
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You
will receive regular updates about profession and ICMAP through
circulars issued from time to time. |
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You
will be given Group Insurance cover. |
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You
contribute and become Benevolent Fund member. |
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You
can utilize Placement services. |
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Issuance
of
Membership
Certificate:
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If
an application for membership of the Institute is accepted by the Council
the applicant’s name shall be entered in the register as an Associate or
a Fellow, as the case may be and Certificate of Membership in form ‘C’
under seal shall be issued to him/her.
In
the event of the name of a member being removed from the register under
the Provisions of the Act, the Certificate of Membership together with the
certificate of Practice, if any, shall be forthwith returned to the
Secretary.
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Duplicate
Membership
Certificate:
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In the event of the loss by the holder of a
certificate issued under the Act or Regulations, the Council may, on
application made in this behalf, duly supported by an affidavit and other
documents if required of the
applicant to the effect that he/she was in possession of such a
certificate and had lost it, issue a duplicate copy thereof to him/her on
payment of such fee as may be determined by the Council.
Where a certificate is damaged or mutilated, the Council may, on
application, made in this behalf, issue, a duplicate copy thereof on
receipt of such fee as it may determine and on return of the damaged
certificate.
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Restoration
of Membership:
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The
Council may, on an application received in this behalf from a person whose
name has been permanently or temporarily removed from the register under
section 20 of the Act restore his/her name if he/she is otherwise eligible
to such membership:
Provided that he/she shall have paid before such restoration, the
re-admission fee equal to the admission fee and the annual fee or fees for
the year during which his name is restored and all arrears on account of
annual membership fee, subject to a maximum of membership fee for three
preceding years according to the scale applicable to him/her.
The restoration of name to the Register shall be notified in the Gazette
of Pakistan and in such Journals as the council may think desirable and
shall also be communicated in writing to the person concerned.
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Disabilities
for
Membership:
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Notwithstanding
anything contained in section 4 of Cost and Management Accountant Act a
person shall not be entitled to have his/her name entered in or borne on
the Register if he/she:
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has
not attained the age of twenty one years at the time of his/her
application for the entry of his/her name in the Register; or |
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is
of unsound mind and stands so adjudged by a competent court; or |
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is
an un-discharged insolvent; or |
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having
been discharged of insolvency, has not obtained from the court a
certificate that his/her insolvency was caused by misconduct on
his/her part; or |
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has
been convicted by a competent court, whether within or outside
Pakistan of an offence involving moral turpitude and punishable with
imprisonment, or of an offence, not of a technical nature, committed
by him/her in his/her professional capacity unless in respect of the
offence committed he has either been granted pardon, or, on an
application made by him/her in this behalf, the Federal Government
has, by an order in writing, removed the disability; or |
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has
been removed from the membership of the Institute on being found on
inquiry to have been guilty of professional or other misconduct: |
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that a person who has been removed from membership for a specified
period shall not be entitled to have his/her name entered in the
Register until the expiry of such period. |
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Retired
Membership:
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“Retired
member” means an Associate or a Fellow of the Institute who is disabled or
more than 55 years of age and who has ceased to be employed, or engaged in
practice and has applied to the Institute for being considered as retired
member and the Council has granted the application.
Provided that a member will cease to be a retired member if he/she is
employed again, or is engaged in practice or has applied on the prescribed
form to the Institute to consider him/her as a regular member.
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Penalty
for Falsely Claiming to be a Member etc.
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A
person shall, without prejudice to his/her liabilities to any disciplinary
measure prescribed under Section 34 of Cost and Management Accountant Act
be punishable on first conviction, with fine which may extend to one
thousand rupees and on any subsequent conviction with imprisonment which
may extend to six months, or with fine may extend to five thousand rupees,
or with both if he not being a member of the Institute, represent that
he/she is a member of the Institute, or uses the designation of Cost and
Management Accountant or the letters [ACMA or FCMA].
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