Contributions by R&P CommitteeAt a Glance

Launch Students’ e-magazine titled ‘Future CMAs’ on February 26, 2019

Launch of first-ever ‘Author’s Directory 2018’ with profiles of authors whose articles published in MAJ

Digital Archiving of all old printed copies of Institute’s Journal from 1961 to 2002

Launch of Web search engine to search MAJ archives ‘issue-wise’; by ‘author name’ or ‘topic-wise’

For the first time Management Accountant Journal was released with Hyperlink Contents Page

Release of 12 issues of e-Newsletter in a year with value addition in contents

Letter of thanks to all the authors for acknowledging their valuable contribution in MA Journal

Release of MAJ branding ads in social media

80 percent increase in Articles contribution by ‘New Members’ in 6-issues of 2018

69 percent increase in ‘Focus Section Articles’ by members in 6-issues of 2018

Seven special messages of foreign dignitaries published in MAJ

Nine exclusive articles of national and international writers were published

Fifteen exclusive interviews were published in MAJ

Research articles were developed and published in different issues of Journal

Feedback surveys were conducted whose reports published in MA Journal

First-Quarter Priority Action Plan for New Government was developed and submitted to Government

Fiscal Budget Proposals Booklet 2018-19 published and submitted to Government

Outsourcing of research projects to IoBM.

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RESEARCH AND PUBLICATIONS COMMITTEE

Key Initiatives & Milestones

The National Council of the Institute has entrusted the Research and Publications (R&P) Com-mittee with the important task and responsibility of not only publishing Institute’s official

flagship Journal titled ‘Management Accountant’ but also developing different industry/sectoral studies and con-ducting cutting-edge research on national and international issues. The R&P Committee is also mandated to develop and publish Pre-budget proposals in consultation with members of the Institute as well as representative bodies of Trade and Industry for submission to the Government. The focus of these research assignments is to facilitate the government and regulators in policy-making and share updated knowledge with corporate sector, members and professionals to help them in effective decision making. An electronic version of monthly Newsletter, covering the activities and programs undertaken by the Institute, is another major initiative of the Committee. In addition, the Re-search & Publications Committee/Directorate is also tasked to execute all the Institute’s publications after receiving from the relevant Committee.

1) Launch of first-issue of ‘Future CMAs’ – Students’ e-Magazine One of the milestone achievements of Research and Publications (R&P) Committee is the launch of first issue of ‘Future CMAs’ – the e-magazine for students of ICMA Pakistan and formation of ‘Students Publication Society (SPS) which has been tasked to bring out the e-magazine under the supervision and guidance of the Research and Publications Directorate. The primary motive behind the ‘Future CMAs’ magazine and formation of SPS is to groom the intellectual, inter-personal and networking skills of our students and also to provide them a useful platform and medium for knowledge sharing on the profession and other contemporary issues.

The idea of launching a digital magazine for students initially came up during the meet-ings of the Research and Publications Committee of ICMA Pakistan. It deliberated upon different modi operandi to transform this idea into reality. Finally, it was decided to form a ‘Students’ Publications Society (SPS) comprising of the students from all the Campuses. Accordingly, an ‘Expression of Interest’ was floated through notice boards at Campuses to seek interests of students. An interview session was later arranged of aspiring students and the Students Society was officially notified with one Coordinator appointed at each Campus to coordinate collection and compilation of news and material from other selected members of SPS as well as from other students.

2) MA Journal with Hyperlink Contents PageAnother initiative of Research and Publications Committee is the release of Management Accountant Journal with ‘hyperlinked Contents page’. This initiative has been taken from Sep-Oct 2018 issue and onwards. It would enable our members and readers to peruse the Journal with ease and read the article or go to any specific page by clicking on the contents page. This initiative has received much appreciation from the members.

3) Authors’ Directory

The Research and Publications Committee has decided to publish a ‘Authors’ Directory’ every year which would detail the names of those members and non-members whose articles have been published in the six issues of the Management Accountant Journal during the period from January to December. The details may include the topics of their articles and the profiles of writers as given in ‘About the Author’ at the end of their published articles. The motive behind this suggestion is to recognize the efforts of these writers and also to encourage other members to come forward and write articles in the Management Accountant Journal.

CONTRIBUTIONS BY ICMA PAKISTAN’S

FEBRUARY 2018 TO FEBRUARY 2019

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4) Digital Archiving of Old printed issues of Journal One of the significant initiatives taken by the Research and Publications Committee is the digital archiving of all the old printed copies of Institute’s Journal, since issuance of its first edition in 1961 by the name of ‘Industrial Accoun-tant’ upto the year 2002. The scanning of Journals of the first 42 years was a gigantic task as it not only involved locating and sequencing of all the Journals from 1961 to 2002; but also their scanning in image format and converting the images into PDF files so that it could be worked upon by the IT Department for segmentation of articles and later for hosting on website. The team of Research and Publications Department took up this task and a vendor was hired who was provided space within the premises of the Institute to place its scanning machines. The R&P team kept con-stant coordination with the vendor in providing them copies of journals for scanning; reviewing the scanned PDF files for any page omissions or unclear pages; getting re-scan done of such omissions and blur images etc. It took almost a month to complete this task and all the scanned images were then transferred to the IT Department.

5) Designing of MAJ Search engine It was also decided by the Research and Publications Committee that a search engine may be designed and placed on Institute’s website in order to facilitate our members and other readers/ visitors not only to search ‘issue-wise’; by ‘author name’ or ‘topic-wise’; the archives of all articles published in journal since 1961 till date.; but also to download and print any article located through this search engine. This was also a formidable task and based on the scanned copies of journals from 1961 to 2002 and already available soft copies of Journal from 2003 onwards, the IT Department carried out segmentation/ splitting up of all the articles in coordination with the Research and Publications Department and finally by the end of March 2019 this task was accomplished successfully.

6) Release of 12 issues of e-Newsletter in a year After almost a decade, since the year 2007, twelve issues of e-Newsletter were released during 12 months i.e. from February 2018 [since the R&P Committee took charge] upto January 2019. During the last ten years i.e. 2007 on-wards, the e-Newsletter could not be released on regular monthly basis for various reasons. The credit for this goes to the R&P Committee which not only ensured timely release of e-Newsletter but also made some value-additions in the e-Newsletter to make it more interesting and richer in contents so that members at large can take the benefit. In this context, it added new segments such as ‘Technical Updates’, contributed by the TSPD Directorate and a page on ‘Members Benefit’ to create awareness in qualified about the benefits of obtaining membership of the Institute. The R&P Committee also provided valuable input in improving the layout of the newsletter.

7) Letter of Appriciation to Authors

As a new initiative to arouse interest in members to contribute research-based articles in Management Accountant Journal, the Research and Publications (R&P) Committee decided that letter of thanks with the signature of Chair-man of R&P Committee be sent to all the authors for acknowledging their valuable contribution. The R&P Director-ate ensures that after every issue, the letters of thanks are issued to authors, also intimating therein the allocation of CPD credit hours for writing article in the Journal.

8) Social Media Publicity of MAJ issues To elicit interest of members in reading the upcoming issue of MA Journal, the Research and Publications Commit-tee decided to issue MAJ branding ads in social media with citations from the exclusive interviews of foreign and Pakistani dignitaries. The number of hits on these ads in Facebook, Twitter and LinkedIn signify that this initiative has been appreciated by members and has helped in the branding of MA Journal.

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Year-on-Year Performance

MEMBERS WHO CONTRIBUTED THEIR FIRST ARTICLES IN MA JOURNAL IN 2018

MEMBERS WHO CONTRIBUTED THEIR FIRST ARTICLES IN MA JOURNAL IN 2017

Increase in Articles contribution by ‘New Members’ in 6-issues of 2018 Due to the encouraging policy and efforts of the Chairman and members of R&P Committee, the year 2018 has wit-nessed more contribution of articles and write-ups by the ‘new members’in the 6-issues from the previous year. The ‘new members’ signify those members who contributed their articles for the first time in the MA Journal.

Sr. M/No. Author Title of Article & Issue published1. F-1028 M. Shahzad Khan Sherwani IPSAS Implementation in Pakistan-Benefits and Challenges [Mar-Apr 2018]2. F-1605 Khalid Mahmood Ahmed IPSAS and Quality of Financial Reporting in the Public Sector of Pakistan [Mar-Apr 2018]3. A-6298 Muhammad Adil Khan Tax Amnesty Scheme 2018 [Mar-Apr 2018]4. F-2029 Rashid Mahmood Why SMEs Need Accounting Software? [Mar-Apr 2018]5. F-1224 Shafqat Ali Stock Market Dynamics in Pakistan [May-Jun 2018]6. A-1409 Asif Saeed The Stock Market Dynamics and the Economic Development [May-Jun 2018]7. F-1537 Muhammad Azhar Khan Spillover Dynamics of Islamic & Conventional Indices in Asian Stock Markets [May-Jun 2018]8. A-4229 Hasnain Imam Pakistan Stock Exchange: Near-term Outlook [May-Jun 2018]9. F-613 Muhammad Lukman National Clearing Company of Pakistan Ltd (NCCPL) - A Success Story [May-Jun 2018]10. F-578 Inam Ullah Javed Supply Chain Challenges in Textile and Pharma Industries in Pakistan [Jul-Aug 2018]11. A-4520 Abdur Rehman Ganatra SWOT Analysis of Pakistan Textile Supply Chain [Jul-Aug 2018]12. F-1971 Atiq Ur Rahman Tax-to-GDP Ratio: A Key Benchmark to Measure a Country's Financial Health [Jul-Aug 2018]13. F-1071 Dr. Babar Zaheer Butt Foreign Remittances and Pakistan Economy: A Pragmatic Review of Abenomics [Jul-Aug 2018]14. F-1701 Haider Abbas Accountability of Public Institutions by “The Legislature” [Sep-Oct 2018]15. F-1370 Syed Hassan Kazmi Role of Finance Professionals in Big Data Analytics [Nov-Dec 2018]16. A-4136 Noman Sohail BIG DATA – Role of a Business Manager [Nov-Dec 2018]17. A-5560 Amir Nadeem Fundamentals of Big Data [Nov-Dec 2018]18. A-2728 Muhammad Haris Munawar Islamic Commercial Paper [Nov-Dec 2018]

Sr. M/No. Author Title of Article & Issue published1. F-1355 Tariq Naseem Corporate Governance for Islamic Financial Institutions [Jan-Feb 2017]2. A-6255 Jamshaid Hassan Challenges for Global Islamic Finance Industry [Jan-Feb 2017]3. A-6325 Ayaz Shoukat Concepts and Structures of Islamic Finance [Jan-Feb 2017]4. A-3350 Haider Ali Shah Relationship between SBP Policy Discount Rate and M2 Money Supply [Jan-Feb 2017]5. F-1929 Muhammad Rashid Shah The Learning Organization-Application to the Pakistan Context [Mar-Apr 2017]6. F-2078 Hissam Uddin Entrepreneurship Perspective in Pakistan [May-Jun 2017]7. A-6064 Amin Gangji World Economy and Pakistan [May-Jun 2017]8. A-5539 Muhammad Abbas Global Corporate Governance Landscape [Sept-Oct 2017]9. A-2605 Syed Tariq Waqar Need for Corporate Governance Scoring Index in Pakistan [Sept-Oct 2017]10. F-1446 Syed Asadullah Robotic Accounting-A Step ahead in Automation [Nov-Dec 2017]

80%

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Increase in ‘Focus Section Articles’ by members in 6-issues of 2018 The Focus section of MA Journal contains articles that relates to the main theme of the issue. In this Section, articles received from both members and non-members are published. During the year 2018, efforts were made to encourage more members to write articles in the Focus Section. The efforts yielded results and during 2018, 27 members shared write-ups in Focus Section in 6 issues as compared to 16 during last year, depicting an increase of around 68.75 percent.

CONTRIBUTION OF ARTICLES BY MEMBERS IN FOCUS SECTION IN 2018

CONTRIBUTION OF ARTICLES BY MEMBERS IN FOCUS SECTION IN 2017

Sr. M/No. Author Title of Article & Issue published1. A-6255 Jamshaid Hassan Integrated Reports and Organizational Value Creation [Jan-Feb 2018]2. F-1028 M. Shahzad Khan Sherwani IPSAS Implementation in Pakistan-Benefits and Challenges [Mar-Apr 2018]3. F-1605 Khalid Mahmood Ahmed IPSAS and Quality of Financial Reporting in the Public Sector of Pakistan [Mar-Apr 2018]4. F-1355 Tariq Naseem Shariah Compliant Shares Trading and Financing Products [May-Jun 2018]5. F-1187 Sameem Ahmed Insider Trading - A Curse for Stock Market [May-Jun 2018]6. F-1224 Shafqat Ali Stock Market Dynamics in Pakistan [May-Jun 2018]7. F-1113 Aftab Q. Munshi Identifying Issues Confronting the PSX [May-Jun 2018]8. A-1409 Asif Saeed The Stock Market Dynamics and the Economic Development [May-Jun 2018]9. F-1537 Muhammad Azhar Khan Spillover Dynamics of Islamic & Conventional Indices in Asian Stock Markets [May-Jun 2018]10. A-4229 Hasnain Imam Pakistan Stock Exchange: Near-term Outlook [May-Jun 2018]11. F-613 Muhammad Lukman National Clearing Company of Pakistan Ltd (NCCPL) - A Success Story [May-Jun 2018]12. F-147 Khalid Mehmood Should I Leave the Business of PSX? I am not Computer Literate [May-Jun 2018]13. F-937 Mazhar Mahmood Process Flow of Supply Chain and Role of Management Accountants [Jul-Aug 2018]14. F-330 Mohammad Hanif Ajari Unlocking the Potential of “Blockchain” in Supply Chain Management [Jul-Aug 2018]15. F-578 Inam Ullah Javed Supply Chain Challenges in Textile and Pharma Industries in Pakistan [Jul-Aug 2018]16 A-4520 Abdur Rehman Ganatra SWOT Analysis of Pakistan Textile Supply Chain [Jul-Aug 2018]17. F-455 Jalal A. Khan & Naeem Bhojani Supply Chain & Evolving Efficiency Measures [Jul-Aug 2018]18. F-909 Badruddin Ahmad Quraishi Reforming Tax System and Administration [Sep-Oct 2018]19. F-770 Tariq Hussain Proposal for Reform in the Insurance Sector [Sep-Oct 2018]20. F-1701 Haider Abbas Accountability of Public Institutions by “The Legislature” [Sep-Oct 2018]21. F-937 Mazhar Mahmood Proposal Model for Economic Revival and Employment Generation [Sep-Oct 2018]22. A-4295 Rizwan Ahmed Analyzing Reasons for Low Saving and Investment in Pakistan [Sep-Oct 2018]23. F-1366 Dr. Salman Masood The Big Data: Analytics, Challenges and Financial Implications [Nov-Dec 2018]24. F-1370 Syed Hassan Kazmi Role of Finance Professionals in Big Data Analytics [Nov-Dec 2018]25. A-4136 Noman Sohail BIG DATA – Role of a Business Manager [Nov-Dec 2018]26. A-5560 Amir Nadeem Fundamentals of Big Data [Nov-Dec 2018]27. F-248 Wasful H Siddiqi & Faizan Siddiqi Big Data Analytics - Usage of Data Science Techniques in Business [Nov-Dec 2018]

Sr. M/No. Author Title of Article & Issue published1. F-983 Dr. Muhammad Hanif Anatomy of Islamic Finance [Jan-Feb 2017]2. A-6255 Jamshaid Hassan Butt Challenges for Global Islamic Finance Industry [Jan-Feb 2017]3. F-1355 Tariq Naseem Corporate Governance for Islamic Financial Institutions [Jan-Feb 2017]4. A-6325 Ayaz Shoukat Concepts and Structures of Islamic Finance [Jan-Feb 2017]5. F-937 Mazhar Mahmood Public Awareness Optimizing CPEC [Mar-Apr 2017]6. A-4871 Waqar Khan Potential Benefits in CPEC to Pakistan [Mar-Apr 2017]7. F-1187 Sameem Ahmed Transition from Employee to Entrepreneur [May-Jun 2017]8. F-2078 Hissam Uddin Entrepreneurship Perspective in Pakistan [May-Jun 2017]9. A-4020 Rauf Ali Jan Auditing: Reactive not Proactive [Jul-Aug 2017]10. F-800 Muhammad Iqbal Ghori Revisiting the Corporate Governance Regulations [Sept-Oct 2017]11. A-2605 Syed Tariq Waqar Need for Corporate Governance Scoring Index in Pakistan [Sept-Oct 2017]12. F-756 Sayyid Mansoob Hasan Fine Tuning the Philosophy of Corporate Governance [Sept-Oct 2017]13. F-171 Qaiser Mufti Draft Code of Corporate Governance-Random Thoughts [Sept-Oct 2017]14. F-908 Arshad Masood IT Governance Leads to Corporate Governance [Sept-Oct 2017]15. A-5539 Muhammad Abbas Global Corporate Governance Landscape [Sept-Oct 2017]16 F-937 Mazhar Mahmood Retail Industry & Role of Management Accountant [Nov-Dec 2017]

69%

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YoY Overall Performance of R&P

RESEARCH & PUBLICATIONS COMMITTEE

Research and Publications (R&P) Committee - 2018

Mr. Muhammad Shahid (F-1069)

Dr. Salman Masood(F-1366)

Mr. Muhammad Azhar Khan (F-1537)

Mr. Salman Haider(F-1679)

Mr. Danish Naeem(F-1930)

Syed Mubashir Ali(F-1712)

Mr. Mohammad Yasin(F-1464)

Mr. Rashid Mehmood(F-2029)

Mr. Saqib Masood(A-3109

Mr. Sohail Anjum(A-3480)

Mr. Muhammad Shoaib(A-5780)

Chairman

Members

The Research and Publications (R&P) Committee functionally looks after matters related to publication of Management Accountant Journal as well as other research-related tasks focusing mainly on industry research. The decisions taken by this forum serves as policy guideline for R&P Directorate.

For the first time in the history of ICMA Pakistan, a transparent mechanism was adopted to form different non-stand-ing committees, including the Research and Publications Committee, whereby five members were coopted from five Branch Councils viz. Karachi, Lahore, Islamabad, Multan and Faisalabad, whereas five members were selected by inviting ‘Expression of Interests’ from the members.

A Comparison of R&P Committee’s Progress in 2018 with previous year

Sr. Particulars 2018 20171 Number of R&P Committee meetings held 11 042 Exclusive Interviews of dignitaries conducted and Published in MAJ 15 093 Exclusive Articles of Experts published in Focus Sections of MAJ 09 014 Special Messages of dignitaries obtained and published in MAJ 07 045 No. of Surveys conducted by R&P Department 04 046 Contribution of articles by R&P Department in MAJ issues 08 037 Contribution of articles in MAJ by new members (for the first time) 20 108 Contribution of articles by members in the Focus Sections of MAJ 31 169 Number of e-Newsletters developed and released 12 08

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The R&P Committee is one of the most active non-standing Committees of the Institute which can be gauged from the fact that during the period from February 2018 to January 2019, it held ten meetings, most of them encompassed du-ration of over three hours during which the members deliberated upon various matters related to MA Journal, e-news-letter as well as new research initiatives. The Committee focused mainly on bringing quality improvement in contents and presentation of the Management Accountant Journal which serves not only as the ’face’ of the Institute but alsoas a strong medium for image building. Almost all members ensured participation in every meeting of Committee.

Management Accountant is the bi-monthly official flagship Journal of ICMA Pakistan whose primary objective is to keep Institute’s members and students updated with the current trends in the field of accounting and finance and also serve as useful source of knowledge and reference for the corporate sector. When it was first launched in 1961, its name and title was ‘Industrial Accountant’. In July 1992, the name of Journal was changed to ‘Management Accountant’. Every is-sue of Journal is brought out on a specific theme which is decided by the R&P Committee or Chairman R&P Committee. The theme is decided in advance so that the R&P Directorate has sufficient time at its disposal to invite articles from member and others and develop research paper and other contents.

The Journal is helpful in promoting management accounting and portraying the true skill-set and competency of our members. In particular, it has served as a premier resource for young and professional Management Accountants to find new trends in Management Accounting. The Journal in each issue is bringing quality articles, research and survey reports which have attracted good numbers of readers. It also carries general topics which directly or indirectly affects country’s business, trade and commerce.

The printed copies of MA Journal are distributed widely in government [including PSEs, MNAs/Senators, etc] as well as the corporate sector [including Chambers and Trade and Industry Associations]. The hard copies of the Journal in the hands and offices of high profile personalities definitely promote the name and brand of ICMA Pakistan. It also provides

The Research and Publications (R&P) Committee under the able leadership of its Chairman has been following a pro-active approach in stimulating the research efforts and activities and transformingthe Committee into a ‘think tank’ of the Institute to play the role of policy advocacy and economic policy making. The R&P Committee developed 100-days priority action plan for the new Government which has been submitted to the government.

1st meeting on 3rd May, 2018 | 2nd meeting on 10th May, 2018 | 3rd meeting on 23rd Jun, 2018 | 4th meeting on 12th Jul, 2018 |5th meeting on 2nd Aug 2018 | 6th meeting on 5th Sept 2018 | 7th meeting on 6th Oct 2018 | 8th meeting on 10th Nov 2018|

9th meeting on 20th Dec 2018 | 10th meeting on 9th Jan 2019 | 11th meeting on 19th Feb 2019

MANAGEMENT ACCOUNTANT JOURNAL (MAJ)

82%

64%

82%73%

64%55%

45%55%

46%55% 55%

0%10%20%30%40%50%60%70%80%90%

1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th 11th

Meetings

Level of Participation of members in R&P Committee meetings

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b) Special Messages

The R&P Directorate often approaches high-level dignitaries in government and private sector at national as well as personalities at international level to seek their views and special messages for publication in different issues having relevance to the various themes of the Journal. During the year 2018, special messages of the following dignitaries were obtained for publication in different issues of Journal:

Sr. Issue Theme1. Jan - Feb 2018 Integrated Reporting2. Mar - Apr 2018 Public Sector Accounting3. May - Jun 2018 Stock Market Dynamics 4. Jul - Aug 2018 Supply Chain Management5. Sep – Oct 2018 Economic Agenda for the New Government 6. Nov – Dec 2018 Big Data Analytics and the Finance Professionals 7. Jan-Feb 2019 Public-Private Partnership

Sr. Issue Theme1. Mar - Apr 2019 Institutional Reforms and Governance2. May - Jun 2019 Informal Economy: Challenges for Documentation3. Jul - Aug 2019 Business Start-ups and Professionals

Jan - Feb 2018

Jul - Aug 2018

Mar - Apr 2018

a) Themes of MA Journal

During the period under review, seven issues of MAJ were brought out on the following themes:

The themes for the future issues of journal are as under:

an opportunity to them to know that ICMA Pakistan is publishing the Journal containing useful information that may help them in policy making and regulatory affairs.

The Research and Publications Committee took several decisions initially to streamline the activities related to Manage-ment Accountant Journal. As a cost saving measure, the printing of 4500 students’ copies were discontinued as there was not proper distribution of these copies at the campuses. The students were given option to read the e-version of the MA Journal to orient them towards digitization. Another decision was the revision of advertisement tariff rates of MA Journal which were on a higher side. The Committee also took a number of decisions for value addition in MA Jour-nal which specifically related to design, layout and contents.

Sep - Oct 2018

May - Jun 2018

Nov - Dec 2018

Sr. Dignitary Designation Issue published 1. Mr. Timothy J. Mohin Chief Executive, Global Reporting Initiative (GRI) Jan-Feb 20182. Mr. Ashishkumar Chauhan Chairman, South Asia Federation of Exchanges (SAFE) May-Jun 20183. Mr. William Householder Chairman, American Production & Inventory Control Society (APICS) Jul-Aug 20184. Mr. Malcolm Youngson CEO, Int’l Federation of Purchasing and Supply Chain Management (IFPSM) Jul-Aug 20185. Mr. Robert Dohrer IAASB Member and Chair of IAASB’s Data Analytics Working Group Nov-Dec 2018

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c) Exclusive Articles

The R&P Directorate often approaches prominent Pakistani authors as well as international writers and experts on themes selected to seek their write-ups exclusively for publication in the MA Journal. During the year 2018, exclu-sive articles of following national and international writers were published:

6. Mr. Emmanuel Nyirinkindi Director, Transaction Advisory Services, International Finance Corporation Jan-Feb 20197. Mr. Yoji Morishita Head of the Office of Public Private Partnership Asian Development Bank Jan-Feb 2019

d) Exclusive Interviews

The exclusive interviews of Federal Ministers; Federal Secretaries; Governors; Heads of Regulatory bodies CEOs of Banks, Insurance Companies and Business conglomerates are published in the MA Journal. R&P Department ap-proaches the relevant offices to seek appointments; develops interview questions; conducts interviews’; transcrip-tion etc. While drafting interview questions, R&P includes few questions that requires the interviewee to share their views on role of CMAs and possible joint collaborations. The responses given by them are highlighted as ‘captions’ in interview pages as well as on ‘Title page’. The motive behind this exercise is to ‘spotlight’ the competency of CMAs for notice by the corporate sector.

The outcome of all these initiatives is the image building of Institute and enlightenment of dignitaries about the significant contribution made by ICMA Pakistan and its members in business growth and national development. Needless to mention that interviews with heads of private sector have paved the way for members’ placement and students’ internships in corporate sector. The exclusive interviews of following dignitaries were published in MAJ:

Sr. Dignitary Designation Issue published 1. Mr. Richard Howitt CEO, International Integrated Reporting Council (IIRC) UK Jan-Feb 20182. Mr. Ian Carruthers Chairman, Int’l Public Sector Accounting Standards Boards (IPSASB) Mar-Apr 20183. Mr. Javaid Jehangir Auditor General of Pakistan (AGP) Mar-Apr 20184. Mr. Shaukat Hussain Chairman, Securities and Exchange Commission of Pakistan (SECP) May-Jun 20185. Mr. Humayun Bashir Chairman, National Clearing Company of Pakistan Ltd (NCCPL) May-Jun 20186. Mr. Richard Morin CEO, Pakistan Stock Exchange (PSX) May-Jun 20187. Mr. Moin M. Fudda Chairman, Central Depository company (CDC) May-Jun 20188. Mr. Irfan Wahab Khan President, Overseas Investors CCI (OICCI) Jul-Aug 20189. Mr. Rafeo Bashir Shah Acting Secretary, Trade Development Authority of Pakistan (TDAP) Jul-Aug 201810. Mr. Ehsan Malik CEO, Pakistan Business Council (PBC) Sep-Oct 201811. Mr. Usman Hayat CEO, Audit Oversight Board (AoB) Sep-Oct 201812. Dr. Khalid Maqbool Siddiqi Federal Minister for IT & Telecom Nov-Dec 201813. Mr. Muhammad Tanvir Butt CEO, Public Private Partnership Authority (PPPA) Jan-Feb 201914. Mr. Agha Waqar Javed Member P&D Board/ Head PPP Cell, P&D Department, Punjab Jan-Feb 201915. Mr. Khalid Mahmood Shaikh Director General, Public Private Partnership (PPP) Unit Sindh Jan-Feb 2019

Mr. Timothy J. MohinChief Executive

GRI

Mr. Ashishkumar Chauhan

Chairman SAFE

Mr. William House-holder

Chairman APICS

Mr. Malcolm Youngson

CEO IFPSM

Mr. Robert DohrerChairman IAASB’s Data

Analytics Working Group

Mr. Emmanuel NyirinkindiDirector, International

Finance Corporation (IFC)

Mr. Yoji Morishita, Head OPPP Asian Devel-

opment Bank (ADB)

Sr. Author & Designation Title of Article Issue published 1. Mr. Nick A Shepherd [UK] Integrated Reporting: A Force for Sustaining Value Creation Jan-Feb 20182. Mr. Gary Cokins [UK] Why is Integrated Reporting so Critical? Jan-Feb 20183. Prof. Isabel Brusca & Prof. Vicente Condor The Harmonization of Public Sector Accounting Mar-Apr 20184. Ms. Svetlana Klimenko & Daniel N. Budney Improving Public Sector Management and Performance Mar-Apr 20185. Dr. Ikramul Haq & Huzaima Bukhari Agenda for Tax Reforms Sep-Oct 20186. Dr. Naveed Arshad How Organizations can benefit from Big Data Nov-Dec 20187. Mr. Imran Batada Transforming the Auditing Process through Big Data Analytics Nov-Dec 20188. Mr. Javed Iqbal Mirza Public Private Partnership: A Way Forward Jan-Feb 20199. Dr. Shahida Wizarat Major Challenges Faced by Third World Countries Jan-Feb 2019

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The e-Newsletter developed by R&P Department carries monthly Institute’s activities which were earlier part of the Management Accountant journal. The newsletter is designed and prepared monthly but not printed. The soft copy of newsletter is hosted on website and also sent to members on their email addresses. The e-Newsletter covers infor-mation about Institute’s conferences, seminars, workshops; President’s engagements; activities of Branch Councils, Regions, Campuses and Directorates; membership and members’ activities etc.

During the period from February 2018 to January 2019, Twelve issues of e-Newsletter were released.

The R&P Directorate regularly contributes towards focused theme of the Journal. During the year under review, the following research articles were developed and published in different issues of Journal:

A Global Outlook on status of adoption of Accrual Accounting Corporate Governance in Public Sector Entities Pakistan Economic Survey 2017-2018 Info graphics Federal Budget 2018-19 Info graphics Tax Amnesty Schemes in Pakistan – With special reference to 2018 Amnesty Scheme Technology and Job Market Challenges for Management Accountants Economic Package for Investment and Export Promotion: A Synopsis of Finance Minister’s Speech Amendments proposed in Income Tax Ordinance, 2001 through Finance Bill, 2019

Feb 2018

Aug 2018

Apr 2018

Oct 2018

Jun 2018

Dec 2018

Mar 2018

Sep 2018

May 2018

Nov 2018

Jul 2018

Jan 2019

RESEARCH ARTICLES

E- NEWSLETTER

Page 11

In order to enhance survey activities, the Institute conducts feedback surveys of members on a regular basis. This has resulted in increasing Institute’s focus towards research and interaction with various stakeholders. On the basis of the feedback received, following detailed analytical reviews and reports were prepared in the year under review which was published in different issues of Management Accountant Journal:

a) Post-Budget 2018-19 Survey

The objective of this survey was to elicit member’s general feedback and initial reaction on budget speech and ac-companied Finance Bill 2018.The survey report was published in May-Jun 2018 issue of MAJ.

b) Survey on Savings and Investment Habits of Management Accountants

This survey was conducted by R&P department to know about the member’s savings and investment habits and behavior which would highlight their contribution towards the economic growth.The survey report was published in May-Jun 2018 issue of MAJ.

c) Survey on Corporate Sector’s Expectations from the New Government

The objective of this survey was to seek the feedback of memberson how they feel the new Government is faring and how much are they confident that this government would deliver, especially in dealing with current economic issues.The survey report was published in Sep-Oct 2018 issue of MAJ.

d) Survey on Use of Big Data Technology in Pakistani Organizations

This survey was conducted by R&P department to assess the awareness, use and readiness of our members on big data use and technology. The survey report was published in Nov-Dec 2018 issue of MAJ.

The Research and Publications Committee/ Directorate of ICMA Pakistan has always played its due role in budget making process by developing proposals related to income tax, sales tax, customs and federal excise duty, in addition to sector/industry-wise proposals. The budget recommen-dations are printed and then forwarded to the Ministry of Finance, FBR and other government organizations for consideration. This publication helps build the ‘advisory role’ and image of the Institute towards economic policy making. This year, R&P Directorate developed and published ‘Fiscal Budget Proposals 2018-19’ after undertaking in-house research and seeking feedback from members of Institute and representative bodies of trade and industry. The budget document also included a separate Chapter which contained proposals for enhancing tax revenues; reducing gov-ernment spending and bringing improvement in the tax collection system.

FISCAL BUDGET PROPOSAL 2018-19

SURVEY REPORTS

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OUTSOURCING OF RESEARCH PROJECTS

The Research and Publications Committee/ Directorate developed a set of policy recommendations for the consider-ation of newly-formed Government titled “Economic Reforms for Economically Prosperous Pakistan – First Quarter’s Priority Action Plan for New Government by ICMA Pakistan”The Action Plan has been submitted personally to Mr. Asad Umar, Minister for Finance, Revenue & Economic Affairs by ICMA Pakistan delegation to be headed by the President. This priority action plan would be given wide coverage and publicity in the print and social media through our recently formed MARCOM department so that the relevant quarters in the government and corporate sector may be aware of the significant role ICMA Pakistan is playing in the economic development of the country.

First-Quarter Priority Action Plan for New Government

The Institute of Business Management (IoBM) - Karachi offered the Research and Publications Department of ICMA Pakistan to take benefit of engaging one or more of their students’ groups [under Capstone project of MBA final Year] to conduct in-depth analysis of any project to be provided by us having relevancy to our Institute. The selected student group will conduct research, fieldwork and analysis and furnish us report of their findings along with recommendations. This activity will be undertaken by IoBM without any financial cost involved on the part of ICMA Pakistan. The R&P Department after approval of competent authority proposed following three research projects to IoBM:

(1) Market Perception Survey of ICMA Pakistan vis-à-vis other national and international accounting bodies(2) Cost accounting system being used in the manufacturing industries in Pakistan (3) Developing strategies for branding of ICMA Pakistan

The Priority Action Plan provide around eighty (80) specific proposals in the following 15 priority areas:

1) Stabilizing Pak Rupee Value and Inflation 2) International Lobbying Campaign 3) Addressing Election Rigging Issues 4) Water Conservation Policy 5) Managing Energy Crisis 6) Diversifying Exports 7) Restructuring Tax Regime 8) Strengthening Public-Private Partnership (PPP) 9) Developing Integrated Industrial Policy 10) Agricultural Reforms 11) Controlling the Twin Deficits 12) Tackling Corruption and Inefficiencies of PSEs 13) Curtailing unnecessary Public Expenditures 14) Improving Ease of Doing Business and Investment 15) Engaging Management Accountants to achieve Cost and Economic Efficiency

The first Capstone project on ‘Developing Strategies for Branding of ICMA Pakistan’ has been completed by the IoBM Students team and its report submitted to the Institute which would help in taking policy decision on branding campaign.

Sr. Title of Capstone Project Research Objectives1.

Developing Strategies for branding of ICMA Pakistan

a) Determine the level of awareness amongst prospective students about ICMA & its competitorsb) Feedback of the current students regarding the systemc) Find reasons for decrease in retention rate/increase in the number of dormant studentsd) Image and knowledge about ICMA graduates in corporate sector

2.Assessment of costing systems prevalent in manufacturing companies in Pakistan

a) Identify and understand application of Cost & Management Accounting (CMA) in manufacturing industries of Pakistanb) Assess the status and potential for implementing CMA system utilizing the expertise of Management Accounting professionalsc) Assess the benefits of having cost audit in manufacturing industries of Pakistand) Highlight the importance of cost audit in manufacturing companies operating in Pakistan

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