PAIB Milestones



The ICAP Professional Accountants in Business Committee, currently chaired by Mr Khalilullah Shaikh, was formed in 2009 and has reached to great heights since then. The Committee strives to provide meaningful professional support and guidance to the professional accountants and members of the Institute working in the industry, who constitute around 70 per cent of ICAP members. Recognized at IFAC level, ICAP PAIB is committed to make continuous enhancements in its role to cater to the professional accountants serving in commerce, industry, education, finance, private and public sector in Pakistan.

ICAP PAIB Committee has strong connection with IFAC PAIB Committee. In lieu of our active participation and contribution, Mr. Yacoob Suttar (Past President, ICAP) served on the IFAC Professional Accountants in Business Committee, including as Deputy Chair from 2015-2016 and is an elected member on IFAC Board in 2018. Mr. Khalilullah Shaikh, Chairman ICAP PAIB Committee now represents the Institute as a member at IFAC PAIB Committee.

In 2016, IFAC PAIB Committee approved a guidance document for professional accounting bodies across the globe on how to engage PAIBs and establish successful PAIB Forums. The inclusion of ICAP PAIB Committee as an inspiring case study in that document is a strong testament of its global recognition.

PAIB Committee 2017-2018

PAIB Subcommittees

  • Industry Specific Guidelines Subcommittee
    • The Subcommittee aims to develop guidelines of specific industries as a source of detailed information that acts as a head start for fresh Chartered Accountants willing to join these industries.
  • Survey Subcommittee
    • The Survey Subcommittee aims to conduct surveys based on the current research needs of the Institute.
  • Digital Engagement Subcommittee
    • The objective of this Subcommittee is to advocate the Institute as a strong brand amongst the inspiring, and existing accountants and gain advantage over existing IT usage as well as to push the professional accountants to the forefront and into the industry.

Terms of Reference (ToR)


PAIBC Initiatives

PAIBC Initiatives


CFO Conference

ICAP CFO Conference, initiated in the year 2010, is aimed at providing practical knowledge, tactical information and networking opportunities for finance professionals and intellectuals across Pakistan. To date, 16 CFO conferences have been held across the country with participation of more than 8,000 business leaders and finance professionals. The Conferences continue to be the most sought after platform for professionals to share expertise, build knowledge and network. The distinctive themes, relevant topics, high profile speakers and panelists and vibrant participants are the reasons for continued success of CFO Conferences.

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CFO Conference Middle East

CFO Conference Middle East is the result of ICAP’s objective to expand global outreach, initiated by the then President, Mr. Yacoob Suttar. Considering the majority of Chartered Accountants working in the United Arab Emirates, the first CFO Confernce Middle East was held there in 2015.

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Professional Excellence Awards (PEA)

Initiated as a part of the annual ICAP CFO Conference, Professional Excellence Awards (PEA) began in the year 2011 to recognize the unique and exceptional contributions of ICAP Members towards the performance of their company.

Our talented members have led the accounting profession to a pinnacle of excellence; therefore, the ICAP PAIB Committee, through these awards, give them much deserved recognition for their achievements as they continue to make a difference through their intellect and innovation.

The Professional Excellence awards works on the framework of acknowledging the achievements of Chartered Accountants who add value to their organizations or businesses, by making worthy and innovative contributions to business processes; finance, accounting and internal control functions or leading change management.

Guidelines for PEA (PDF)

Professional Excellence Awards 2016
Position Awarded to Organization Project
1st Khalil Hashmi Synthetic Products Enterprises Limited (SPEL) Behavioural Finance in SPEL
2nd Syed Moonis Abdullah Alvi K-Electric Limited $415 million financing for transmission enhancement and distribution projects
Professional Excellence Awards 2015
Position Awarded to Organization Project
1st Muneeb Mufti MTBC Pakistan Initial Public Offering (IPO) of MTBC
2nd Danyaal Jamal K-Electric Limited KE Azm Sukuk
Professional Excellence Awards 2014
Position Awarded to Organization Project
1st Syed Mazher Iqbal Pioneer Cement Limited Cost Reduction and Efficiency Improvement
2nd Ahsan Anis K-Electric Limited Segregated Load Shed Plan
3rd Muhammad Luckman National Clearing Company Ltd Revamping of the Capital Gain Tax Regime
Kamran Shahzad Pakistan Institute of Fashion & Design Implementation of ERP
Professional Excellence Awards 2013
Position Awarded to Organization Project
1st M. Farid Alam AKD Securities Issuance of Participation Term Certificate for Treet Corporation Limited
2nd M. Ali Ashraf Pakistan State Oil (PSO) Settlement of Circular Debt
Professional Excellence Awards 2012
Position Awarded to Organization Project
1st Khalil Hashmi Synthetic Products Enterprises Limited Implementation of ABC in SPEL
2nd Muhammad Bilal Akhtar Khan Engro Foods Limited EMAN (Engro Milk Automation Network)
3nd Syed Fahim Ul Hasan AF Ferguson & Co Establishing sustainability line of service

National Finance Olympiad (NFO)

National Finance Olympiad, launched in 2015, provides a unique opportunity for finance professionals working in industry as well as firms to come together, compete and celebrate their competence. The objective is to encourage participants to step up their knowledge and application of Accounting, Finance and Governance standards, facilitate networking and recognize finance talent. The event, while fostering an environment of competition, also focuses on building knowledge sharing culture and celebrating teamwork.

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  • National Finance Champions 2017
    • National Finance Champion - EY Ford Rhodes
    • 1st Runner up - Midas Safety
    • 2nd Runner up - Engro Fertilizers
  • National Finance Champions 2016
    • National Finance Champion – Gadoon Textile Mills
    • 1st Runner up – KPMG Taseer Hadi & Company
    • 2nd Runner up – Central Depository Company of Pakistan Limited
  • National Finance Champions 2015
    • National Finance Champion – Engro Fertilizers
    • 1st Runner up – Central Depository Company of Pakistan Limited
    • 2nd Runner up – Byco Petroleum Pakistan Limited

Toastmasters Club

ICAP Toastmasters Club is a platform to develop, improve and enhance communication skills for Chartered Accountants. The purpose of the initiative is to equip chartered accountants with the skills of effective communication and help them realize full potential in their careers. The Club provides a positive learning experience through which members are empowered to develop communication and leadership skills leading to increased self-confidence and personal growth.

The Clubs are operating in Karachi, Lahore and Islamabad and have weekly sessions of around 40 to 50 members in all cities.

Toastmasters Brochure


Master Class on Presentation and Communications Skills

An exclusive ‘Master Class’ on Presentation and Communications Skills by the World Champion of Public Speaking, Mr. Dananjaya J. Hettiarachchi was held in March 2015.

Workshop on Creative Problem SolvingThe workshop on Creative Problem Solving by Dr. Sunil Gupta was held in August 2015.

The trainer is the Chief Learning Officer at Ideas Management Consultants and has over 28-years of academic and industrial experience. His previous work assignments have been in Singapore, USA, India, Pakistan and the GCC countries with multinationals and Government sector.


Enabling Corporate Positivity

In March 2017, ICAP held Enabling Corporate Positivity with The Lady of Laughter – Jo-Dee Walmsley.

The leading energizer speaker and happiness coach Jo-Dee Walmsley provides workshops and training in stress management through the power of laughter, to individuals of all ages, corporations and groups to facilitate team-building, stress relief, self-actualization, and happiness.


Mentorship Program

ICAP Mentorship Program, launched in April 2017, is a platform wherein qualified and experienced professionals take up the role as mentors to provide guidance to protégé. It is designed to promote and contribute to the growth of ICAP members and facilitate them to define their professional goals and formulate the right strategies to achieve them. 35 senior and experienced mentors with diversified backgrounds such as practice, industry and academia provide guidance to mentees.

To date, 75 mentees have registered for the program from Pakistan and overseas.

Mentor Profiles

Mentorship Brochure


Soft Skills Series

In June 2017, the PAIB Committee launched a series of soft skills workshop aimed to strengthen the interview skills of our members across Pakistan.

Organized in major cities, the series began with an interview skills workshop ‘Road to Success – Your Journey Began Yesterday’ by Fakir Syed Aijazuddin, FCA.




ICAP hosted IFAC Meetings on September 29th & 30th, 2016 at Atlantis Hotel, Dubai. Thirty-five delegates and representatives from across the world attended the meetings including the Rachel Grimes, Deputy President IFAC; Charles Tilley, Chairman IFAC PAIBC; Stathis Gould, Head of PAIB. Amongst the representatives from ICAP were Yacoob Suttar, Deputy Chair IFAC, Nadeem Yousuf Adil, President ICAP and Khalilullah Shaikh, Chairman PAIBC and Vice President ICAP.

Publications and Resources


Survey on Finance Functions 2025

The business environment today is not what it used to be twenty years ago, nor will it be same in the coming decade. While the expectations and predictions about future may vary, professionals and pundits are unanimous on one point - to excel, one needs to ponder over and prepare for it today!

The purpose of this survey is

  • to understand what finance professionals collectively perceive the coming decade to hold for them
  • to help infer the expectations and gaps, challenges and opportunities for finance professionals in general and Professional Accountants in Business (PAIBs) in particular; thereby identifying the competencies and skill set that future demands from them

This survey also complements the IFAC PAIB Committee agenda of identifying future challenges and opportunities for PAIBs and to provide thought leadership on focus areas for them and their institutes across the globe. ICAP PAIB Committee launched the Survey on Finance Functions 2025 in May 2016 and has published a full report of the Survey.


Industry Specific Guidelines – Pharmaceutical

The PAIB Committee is in the process of developing a Guideline for pharmaceutical sector which will be published soon.


Industry Specific Guidelines – Exploration and Production

The PAIB Committee is in the process of developing a Guideline for Oil & Gas sector which will be published soon.


Employer Engagement Survey

The PAIB Committee launched Employer Engagement Survey in November 2017. The purpose of the survey is to understand the perspective of employers regarding Chartered Accountants in industry. It aims to establish concrete understanding regarding needs, demands and expectations of employers seeking to hire Chartered Accountants. Moreover, it is intended to identify skills and talents CEOs, board members and senior management are looking for in a finance leader, their satisfaction level with Chartered Accountants currently working with them, and their planning to deal or engage with CAs in the coming future.


IFAC PAIB publications




Realizing the difficulty members face when asked to develop policies and procedures in their respective organizations; the Professional Accountants In Business Committee (PAIB) Committee of ICAP has decided to upload samples of certain policies and procedures for the convenience of members. These sample documents are merely to be used as guides and members may modify the same according to the unique nature and requirement of their respective organizations. As a first step, we are uploading the samples of policies and procedures relating to the following areas on the Institute’s website:

  1. Human Resource
  2. Credit Policy
  3. Investment
  4. Limits/Delegation of Authority
  5. Disaster Recovery Plan
  6. Procurement
  7. Accounts Payable

These policies and procedures are dynamic and you may suggest additions or deletions by sending an email at We will review your suggestions and try to incorporate the same to improve the documents. PAIB Committee is constantly deliberating on areas where ICAP can help its members in the industry and would certainly welcome any ideas or suggestions members may have where we can help you. You may send your suggestions at


These documents have been developed for reference purposes only. The information contained in these documents is subject to change by the PAIB Committee of ICAP. Anyone relying on this information should accept all risks and consequences flowing from or related to the use, retention, distribution, alteration, or deletion of this information. ICAP will in no instance be liable for any loss of profit or other damage, including but not limited to special, incidental, consequential, or other damages, even if apprised of the likelihood of such damages. Please note that under no circumstances does ICAP warrant or certify the information to be free of errors or deficiencies of any kind.

Speeches and Presentations

By Yacoob Suttar

By Khalilullah Shaikh

Upcoming Events

CFO Conference Middle East 2018

National Finance Olympiad 2018


Amber Anwar
Assistant Manager, DET
021-111-000-422 Ext 409