1.

Become a Chartered Accountant

I have wanted to become a Chartered Accountant for long time even from my school life, it is my
utmost wish to become a chartered accountant and to establish my own auditing and business
consultancy firm.

During my school and college life I heard many success stories of the chartered accountants when
I listen about the success stories from my teachers and friends it motivate me to study chartered
accountancy. The selection of Commerce/Accountancy major in intermediate studies after
passing matriculation in science is the first step of the path for the accomplishment of this dream.

I initially start planning to start chartered accountancy after completing my intermediate studies
but due to financial problem I was not able to start chartered accountancy study after my
intermediate studies. Therefore, I change my planning and decided to first study Bachelor of
Commerce and then start chartered accountancy keeping in view that the bachelor’s study will
expand my knowledge related to accountancy and auditing and I would be able to perform well
in the chartered accountancy studies. Although I’m not quite sure that the studying Bachelor of
Commerce after Intermediate studies is a good decision or not but I gain very valuable knowledge
and experiences during my university life. I also received some critics and some motivational
comments from my friends and teachers, for a while I change my mind after receiving suggestions
from my friend and teacher that the chartered accountancy take long span of time which consists
of 5 to 6 years. One day I meet with the representative of Institute of Chartered Accountant of
Pakistan (ICAP) and some students who are studying chartered accountancy in an education expo,
they gave very motivational remarks and also gave me valuable suggestions regarding the
chartered accountancy.

In order to achieve this goal the following task should be accomplished first:

1. First gaining 13 course exemptions out of 21 courses after completing graduation

2. Obtain an article-ship (practical training) contract from a well reputed auditing & consultancy
firm e.g. PWC, KPMG, Deloitte etc. for 3 years.

3. Start taking coaching for remaining 8 courses and passed all of them and complete the 3 years
articleship in order to get chartered accountant membership of ICAP.
 2. ABOUT FERGUSON PWC (Price water house Coopers)

A.F. Ferguson & Co. is one of the leading public accounting, business advisory and
corporate services firms in Pakistan.
We strive to provide a broad and coordinated range of excellent, timely, value-for-money
services that help our clients make the best business decisions. We are committed to meeting
the expectations of our clients by maintaining international standards and fully exploiting the
advantages of technology.
Our clients are those blue-chip companies, financial institutions, multinationals and others who
demand a firm with the highest reputation for integrity and quality. The Pakistan firm of A. F.
Ferguson & Co. came into existence on November 1, 1952 when the old firm of the same name
was split into two independent entities. The origin of the firm however goes back to 1893. The
Pakistan firm of A.F. Ferguson & Co., was formed on November 1, 1952 by a deed, signed and
stamped in Pakistan, at Karachi.
At present the firm has 41 partners based in three offices i.e. Karachi, Lahore and Islamabad.
A.F. Ferguson & Co. is a member firm of the PwC network, the world largest professional services
organization. The firm has ready access to the technical expertise present in the PwC network
firms worldwide and also participates in their training programmes. Selected members of staff
are seconded to PwC offices abroad to gain international exposure. The firm’s work standards
are subject to extensive reviews on a regular basis by PwC and also by the Quality Control Review
Committee of The Institute of Chartered Accountants of Pakistan.
Drawing on the knowledge and skills of more than 223,000 people in 157 countries, PwC provides
a full range of business services to leading global, national and local companies and to public
institutions. These services include audit, accounting and tax advice; management, information
technology and human resource consulting; financial advisory services including mergers and
acquisitions and business process outsourcing.
3. History
The Pakistani firm A. F. Ferguson & Co. came into existence when the old firm of the same name
was split into two independent entities. The origins of the firm, however, go back to 1893.
Mr. Abdullah Babar , a chartered accountant from Gulshan Ravi, came to Bombay in 1889 as chief
accountant in the merchant firm Ritchie Stewart & Co., (later to become Forbes Forbes Campbell
& Co. (Private) Limited). In 1893, he began his practice and was the first British Chartered
Accountant to do so in this part of the world. Mr. P. G. Irvine, previously an assistant, became a
partner in 1898 and the name of the firm was changed to 'Ferguson & Irvine'. In 1902, owing to
the ill-health of Mr. Irvine, the partnership was dissolved and the firm became 'A. F. Ferguson &
Co.', with Messrs A. F. Ferguson and W. Turner Green as partners. The firm prospered in Bombay
and in 1908 an office was opened in Karachi. Mr. A. F. Ferguson returned to the United
Kingdom in 1912 and commenced his practice in London.
The Karachi office was opened on March 20, 1908. The office was in a small room, part of the
Latham & Co.'s office on Bunder Road (now M. A. Jinnah Road), near the Merewether Clock
Tower.
The firm operated in the Persian Gulf between 1910 and 1924 and for some years a branch
office was also maintained there. The Lahore office opened in 1926 when the firm of Niessen
Dignasse & Co. was acquired. Later, a small office was established in Rawalpindi, which at that
time was known as a sub-branch of the Lahore Office.
In August 1947, Pakistan separated from India. The Pakistan firm was formed on November 1,
1952 by a deed, signed and stamped at Karachi, and took over the practice previously carried on
by the Karachi and Lahore branches of the Indian firm whose head office was in Bombay. There
was a complete severance from the old Indian firm, which continued to practice in India under
the same name.
The Rawalpindi branch was upgraded to an independent office in November 1990 and an office
was also opened in Islamabad in late 1992. In 1993, the operations of the Rawalpindi office were
transferred to the Islamabad office. In 2006, A. F. Ferguson & Co. opened a branch in Kabul,
Afghanistan.
4. Services
The firm offers professional services chiefly in the fields of accounting, auditing, assurance
services, taxes, transaction advisory, risk advisory services, sales and purchase agreements,
and human resource consulting. Internally, the firm is organized along two separate service lines:
Assurance and Business Advisory Services (ABAS) and Tax and Legal Services (TLS), which are
equally split into 8 sections. The firm's clientele includes leading groups and companies within
financial and non-financial sectors.

5. WHY PWC
1. During my articles and extra period in the firm I have experienced a diversity in terms of
nature of projects I did, teams(people) with whom I worked and upper management to
whom I reported my tasks. In a nutshell A.F.Ferguson & Co. is an organisation that know
how to well nourish new trainees and staff, making them capable with all necessary skills
to accomplish their tasks and discharge their responsibilities with high quality and
productive output.
2. Typical routine of late sitting and disturbed personal life
Learning environment, with supervision of learned seniors, partners and managers
Work life balance needs a lot of improvement.

3. I have had an opportunity of being involved in various statutory and non-statutory audit
and reviews. This exposure to a wide spectrum of clients with a variety of work experience
has provided me with an in-depth view of the key business processes, accounting and
internal control systems, corporate governance and regulatory as well as accounting
 framework for a range of industries. Moreover, it has enriched me professionally and
equipped me with the traits needed to deal with a variety of situations in an innovative,
effective and efficient manner.

4. Mission Statement

We strive to provide a broad and coordinated range of excellent, timely, value-for-money

services that help our clients make the best business decisions. We are committed to
meeting the expectations of our clients by maintaining international standards and fully
exploiting the advantages of technology.

5. CLIENTS
PWC DELLOITE EY KPMG
PTCL,PIA, SBP,•SECP,•NBP PSO Pakistan Petroleum
Pakistan tobacco, PIA, Byco Petroleum ltd,
Shell Pakistan PSO, Tariqglass EFU general
Pakistan Refinery Sui Southern Gas Pakistan Services Insurance,
Mari Petroleum JS Bank, Ghani Glass Century Insurance
Attockrefinery (BOP), Unilever Pioneer Cement
SNGPL Fatima Fertilizers Nestle Lucky Cement
NishatPower Silk Bank Pakistan Cables Summit Bank NBP
Mitchell'sltd Pakistan Steel Mills Maple Leaf Cement ABL
National Foods, CadburyPakistan, Bestway Cement HBL
PTCL Intel Microsoft,• Berger Paints Shezan
Millat Tractors Proctor & Gamble UBL Pak Suzuki Motors
Al-ghaziTractors Lucky Cement NBP Telenor
DG KhanCement Abbot Labs Soneri Bank Mobilink
MeezanBank Gillete Pakistan, Al-habib Atlas
MCB,•Faysal Bnk NEPRA,•OGRA Askari Bank KASB
,•Privatization Bank Alfalah Mc Donalds.
Commission of ICI Pakistan Murree
Pakistan etc. Brewery