In light of concerns raised by the Competition Commission of Pakistan (CCP), the Institute of Chartered Accountants of Pakistan (ICAP) took prompt action to revise the fee for final Charted Accountancy (CA) examination and reduced it to a significant level. CCP received complaints from CA students regarding fee revised by ICAP in February 2014. Students of ICAP complained that the drastic increase in fee had become burdensome for them. On examination by CCP, it revealed that the said fee had been increased up to 118% compared to the previous fee for CA final examinations. Such increase in fee appeared to be unreasonable, prima facie, violating Section 3 (3) (a) of the Competition Act 2010. CCP shared this concern with ICAP and sought the rationale for this sharp upward revision of fee. ICAP, in its response, revised the fee structure by reducing it by 60%, thereby allaying the concerns raised by CCP. The new fee structure is available on ICAP’s website. CCP aims to correct behavior which distorts market conditions and may lead to market failure. Businesses are encouraged to rectify their anti-competitive practices/behavior and integrate competition compliance into their corporate governance framework. CCP is appreciative of prompt response and diligent efforts by ICAP to resolve the issue.
In light of concerns raised by the Competition Commission of Pakistan (CCP), the Institute of Chartered Accountants of Pakistan (ICAP) took prompt action to revise the fee for final Charted Accountancy (CA) examination and reduced it to a significant level. CCP received complaints from CA students regarding fee revised by ICAP in February 2014. Students of ICAP complained that the drastic increase in fee had become burdensome for them. On examination by CCP, it revealed that the said fee had been increased up to 118% compared to the previous fee for CA final examinations. Such increase in fee appeared to be unreasonable, prima facie, violating Section 3 (3) (a) of the Competition Act 2010.
CCP shared this concern with ICAP and sought the rationale for this sharp upward revision of fee. ICAP, in its response, revised the fee structure by reducing it by 60%, thereby allaying the concerns raised by CCP. The new fee structure is available on ICAP’s website.
CCP aims to correct behavior which distorts market conditions and may lead to market failure. Businesses are encouraged to rectify their anti-competitive practices/behavior and integrate competition compliance into their corporate governance framework. CCP is appreciative of prompt response and diligent efforts by ICAP to resolve the issue.
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