ICAP awards Relevant Degree Awarding Institute (RDAI) Certificate to NUST

NUST Business School (NBS) has been awarded Relevant Degree Awarding Institute (RDAI) Certificate by the Institute of Chartered Accountants of Pakistan (ICAP). President ICAP Mr Khalilullah Shaikh presented the Certificate to Lt Gen Naweed Zaman, HI(M), (Retd), Rector NUST, at a ceremony held at the university’s main campus here on Friday.

Based on NUST’s BS ACF programme’s performance evaluated through independent verification auditors, ICAP has upgraded the university’s status to RDAI. With this elevation, NUST BS ACF students will now be required to appear for only 2 gateway exams in pursuing Chartered Accountancy, instead of 5 papers prior to starting professional training and appearing for third level papers. This milestone will not only help NUST’s BS ACF final-year students to start professional training immediately after graduation but will also benefit ICAP in terms of having finest students of Chartered Accountancy.

Based on the previous MoU between NUST and ICAP (2014), BS ACF graduates were given exemption from 8 papers and were required to appear for 5 more papers before starting professional training and appearing for the third level papers. It merits mention that NBS is one of only two Pakistani Business institutions and the only one in the country’s North region to have been awarded the status of RDAI.

ICAP is a premier accountancy body that is recognised internationallay and regulates the profession of Accountancy with world-class competencies. It has more than 10,000 members with global presence and has a list of collaborations and reciprocal arrangements with a number of Accountancy bodies around the world.