RANA MUHAMMAD USMAN KHAN

Title: Council Member

Rana M. Usman Khan is a Fellow Member of the Institute of Chartered Accountants of Pakistan (ICAP) with over three decades of service to the profession, combining extensive professional and industry experience with sustained institutional leadership.
He is currently a Senior Partner at Yousuf Adil, Chartered Accountants (the Firm) and a member of the Firm’s Board of Partners. He has previously held senior positions with A.F. Ferguson & CO. and Coopers & Lybrand, leading complex assurance and advisory engagements across diverse sectors. In addition to his professional services background, he has served as Executive Vice President at Pakistan Telecommunication Company Limited (PTCL), Islamabad, gaining executive-level decision-making, corporate governance, and regulatory oversight. His early career also includes management consulting and company secretarial roles.
Alongside his professional career, he has rendered over three decades of continuous service to ICAP, spanning student leadership, regional governance, Council responsibilities, and international representation. He has served ICAP in multiple senior capacities, including Vice President (2019–20), Chairman of the Digital Assurance and Accounting Board (2019–21), Chairman of the Auditing Standards & Ethics Committee (2017–21), and Chair of the Asian-Oceanian Standard-Setters Group (AOSSG) (2023–25) following Vice Chair (2021–23), representing ICAP at regional and global forums. He has also served as a member or chair of key Council committees / boards, including the Investigation Committee, Accounting Standards Board, Education & Training Committee, Examination Committee, and Fiscal Laws Committee, and has contributed to various Council task forces on initiatives such as the ICAP Governance Manual, UDIN, and AOB-related matters.
At the regional and student level, he has served three terms as Chairman of the Northern Regional Committee, as well as Secretary and Member for over 12 years, and has held leadership roles at CASA-North as Chairman and Secretary. His association with ICAP dates back to 1990 as a student member, providing him with an end-to-end understanding of the profession across students, members, firms, and institutional governance.

His key contributions include the development and rollout of the new education scheme (2021) aligned with global benchmarks; adoption and implementation of the revised Code of Ethics, including NOCLAR; introduction of enhanced audit reporting standards incorporating Key Audit Matters (KAMs); strengthening of the examination system, including readiness for online examinations; technology-focused capacity building for members in AI, data analytics, and fintech through the DAAB platform; formulation of the ICAP Governance Manual; ERP implementation at ICAP; launch of i-Thrive, ICAP’s first incubation center; establishment of the ICAP–IBA Karachi Research Unit; enhancements to the QAD and QCR programmes; and expanded engagement with key regulators and stakeholders, including AOB and SECP.