With the significant growth in the profession, the CA Ordinance and Bye-Laws were revised in 1983.
In view of globalisation of the accountancy profession, the Institute is in the process of updating the Ordinance and Bye-Laws once again.
The head office of the Institute is in Clifton, Karachi in its own premises. The Institute also has regional offices at Lahore and Islamabad.
The ICAP is a member of International Federation of Accountants (IFAC), International Accounting Standards Board (IASB), Confederation of Asian & Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAFA).
In order to ensure that the Accountancy Profession in Pakistan remains in tune with the latest developments in the world, the Council of the Institute has determined the following:
VISION STATEMENT: The profession of Chartered Accountants in Pakistan should be the benchmark of professional excellence upholding the principles of integrity, transparency and accountability.
MISSION STATEMENT: Our mission is to achieve excellence in professional competence; add value to businesses and economy; safeguard public interest; ensure ethical practices and good corporate governance; while recognising the needs of globalisation.
STRATEGIC GOALS:
A. To enhance the image and credibility of ICAP, its members and the Profession of Chartered Accountancy in Pakistan.
B. To take measures to develop into an effective and dynamic organisation for the purpose of self-regulation of the profession and provision of necessary services of high quality to its stakeholders
C. To develop the education, examination and training functions as core activities of the ICAP.
D. To inculcate life-long learning through continuing professional development of its members and students.
E. To invest in technology to improve the services and communication between ICAP and all the stakeholders.
F. To develop a fully operational Research and Development Department that is involved in conducting indigenous research on an on-going basis, for continuous improvement of the profession and the professionals.
G. To ensure ethical practices and good governance, through education and development of standards, to protect public interest.
H. To continue to contribute actively at the national level, through increased institutional interaction with the Government, Regulatory Bodies and other stakeholders.
The above Vision and Mission statements and the Strategic Goals are directed to ensure that ICAP plays a proactive role in the 21st century as a more accomplished professional body with a large membership base of highly skilled and quality professionals equipped to undertake a pre-eminent role in society.