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Signature Qualification CA that Empowers to Lead PAKISTAN Muhammad Ahmad Shahid, FCA [R-1943] FPFA, FAIA Brief Particulars Key Achievements My name is Muhammad Ahmad Shahid. I am resident of My ambitions included to do something concrete for new entrants Peshawar, Khyber Pakhtunkhwa. I am contesting election for in the profession. As a matter of record, I have been able to the Council from Zone “B”. I am 58 years of age, enjoying good establish ICAP House in Peshawar during my session as Chairman, health and physique and would like to serve the profession by Northern Regional Committee. contributing best possible professional efforts aiming at achieving I am honoured to have trained large number of trainee students overall mission and vision of the Institute. since 1991, most of them successfully completed their training and/or passed various examinations of ICAP including CA Position Attained Final examinations. I believe this achievement alone makes I am honoured to be the practising member of the Institute me courageous to accommodate as many new entrants in the since 1991 and it is now over 26 years of serving the profession profession as possible. in allied positions. Prior to the commencement of practice, Previous Service to the Institute (ICAP) however I had served a large sized public sector corporation in I am honoured to have served ICAP in the following positions: the capacity as Joint Director (F&A) for over seven years where ▪ As an elected member of NRC – northern regional committee I truly gained valuable experience of financial management for two consecutive terms including served as Honorary of small to medium sized industries located throughout the Secretary and as the Chairman during those terms; province. ▪ As Centre Supervisor of ICAP examinations for more than a Currently, I am the Managing Partner of IECnet S.K.S.S.S., decade; Chartered Accountants, a nationwide firm of accountants ▪ As member and Chairman, CPD Committee for years long time; operating in Karachi, Lahore and Peshawar. The aforementioned ▪ As member of Benevolent Fund Committee since long time; firm is enjoying foreign affiliation from IECnet and placement in ICAP’s Role in Accounting Profession – Views category “B” of panel of audit firms approved by State Bank of Pakistan. I am also working as Partner-in-charge of Shahid Ahmad Regarding & Co. Chartered Accountants, Peshawar. Much can be said in relation to the contribution of the Institute (ICAP) in the accounting profession. Undoubtedly, ICAP is rightly During practice as above, I have had numerous opportunities recognized as the premier regulatory body of the accounting of working in challenging environment and attaining dissimilar profession in Pakistan and this being the case, places ICAP’s council positions, like as follows: with tremendous pressure to maintain and achieve high standards a. Consulting role for restructuring of businesses including turnkey of excellence through imparting quality education, extending best operations; possible regulations and providing monitoring role for the uplift of b. Assisting investigative agencies like National Accountability economy, businesses & trade in the country. ICAP’s role towards Bureau (NAB) and Federal Investigation Agency (FIA) in relation FBR requires to be revisited for ensuring structural reforms to to specific investigative tasks involving money trail worth broaden tax-base and simplify system of determining tax obligations millions of rupees; while maintaining self-assessment and the spirits of truthfulness c. Assisting courts in the capacity as “Amicus Curae” up until final amongst organized and documented sectors. ICAP had established decisions; marketing department somewhere in July, 2012 which was the d. Playing role as member of various committees including Public wonderful step it could take to achieve certain imperatives for the promotional cause. The mandate of marketing department together Private Partnership forums of provincial government, standing with marketing strategies needs to be evaluated afresh and widened. committees of Sarhad Chamber of Commerce & Industry, Tax Consequently, there is a need to review policy for new entrants by Reforms Committee of FPCC&I, alternate dispute resolution targeting universities and educational institutions and at the same committees formed by Federal Board of Revenue and as time, ICAP can better regulate the profession by keeping complete member on BODs of certain public sector entities. liaison with its members which at present suffers from almost no e. Served provincial government as technical member for revival of control over the members’ activities. ICAP can create viable strategic sick industrial units of the province; and plans revolving around strengthening and developing skill-sets of its f. Role of Liquidator in the process of winding up of companies members enabling them to respond effectively to business dynamics through courts. etc. 54 The Pakistan Accountant April-June 2017