The Higher Education Commission (HEC) has announced that it will not issue an equivalence letter for the Final Examination Certificates awarded by the Institute of Chartered Accountants of Pakistan (ICAP), Institute of Cost and Management Accountants of Pakistan (ICMAP), and Membership of the Association of Chartered Certified Accountants (ACCA), U.K.
In a notification, HEC stated that it recognizes the certificates of aforementioned institutions as equivalent to Master of Commerce (M.Com.) degree. Therefore, the authority will not issue any equivalence letter for the above certificates.
It means that from now on, the said certificates will be considered as equal to M.Com by the local employers and universities. The notification has advised the employers and the educational institutions to ascertain the suitability of candidates for jobs and admissions in accordance with the rules and regulations.
It needs to be mentioned here that prior to this notification, the HEC used to issue a letter of equivalence on an individual basis after considering the applications.
However, it was causing trouble for both students and HEC alike. In order to keep its operating procedures simple for students, faculty, and the public, the HEC has decided to recognize the certificates under question as equivalent to M.Com.
Many students in the past have complained about this condition of equivalence letter, which is not issued without a considerable experience of around three years. This move is going to ease the job hunt for them.