ISLAMABAD - The Pakistan Institute of Public Finance Accountants (PIPFA) has formally kick off the process to obtain full membership of International Federation of Accountants (IFAC), Additional Auditor General, Zafar Hassan Reza said.

 "The process has been initiated on the recommendations of the World Bank and Department of Auditor General of Pakistan (DAGP)," he said while addressing the participants of 6th Graduation Ceremony of PIPFA here Saturday.

He said that Office of Auditor General was extending its full support for achieving this milestone, adding that PIPFA was the only professional accounting organization of Pakistan which specializes in training and professional development of the Public Sector said Additional Auditor General.

"PIPFA, a sponsored body of Auditor General of Pakistan, has been imparting quality education for the last 24 years which itself was an emblem of success," he added. With the efforts of DAGP, PIPFA has signed Memorandum of Understanding with the Chartered Institute of Public Finance and Accountancy (CIPFA), UK which resulted in grant of Affiliate status to PIPFA Members.

In order to further enhance the scope of this MOU, PIPFA has also introduced optional papers at different levels of its corporate sector education program besides recently introducing an additional Public Financial Management (PFM) Scheme that would enable the Public Sector PIPFA members to be recognized as Full CIPFA members.

He was of the view that economic development both in Pakistan and its surrounding regions had changed the scenario and now Pakistan was very well placed to act as a catalyst for economic growth and prosperity especially after initiative of China Pakistan Economic Corridor (CPEC) project.

Hopefully, these initiatives and projects would produce abundance of opportunities in all spheres of life, businesses and economy in Pakistan and within the region, said Additional AGP.

He said, the office of Auditor General of Pakistan was meticulously working to further promote the mission of PIPFA at national level and ready to support at international level, too.

He said that AGP was also working on World Bank mission to establish a Centre of Excellence by reforming Pakistan Audit and Accounts Academy (PAAA) where PIPFA would be the Examination Body due to its existing pivotal role in public sector training and education.