The arrangement, which was unveiled at a ceremony in Lahore today, sets out the basis for collaboration and co-operation between the two institutes. It paves the way for development in Pakistan’s public sector accounting profession in order to strengthen financial management.
The MOU also will explore membership routes to give PIPFA members the chance to join CIPFA.
CIPFA chief executive office Rob Whiteman said: “CIPFA and PIPFA are committed to serving the public interest and so it is a natural step for us to work together in this way to help build capacity in public financial management in Pakistan.
“Across the world, good governance is becoming a pressing issue for governments, as the public rightly expects greater transparency in the funding of public services.
“We will work with PIPFA to strengthen the public finance profession in Pakistan so it is in the best possible shape to deliver accountability for how public funds are spent.”
PIPFA president Mohammad Maqbool called the signing of the MoU a “new milestone” in the history of accountancy in Pakistan.
“This initiative is expected to bring public financial management reforms in Pakistan and enhance the capacity of our national institutions engaged in public financial management and public sector audit functions,” he said.
PIPFA, founded in 1984, has 6,600 members and 29,000 students, which it supports with professional accountancy education.
