ICAP is entrusted with the regulation of the auditing profession in Pakistan. It is one of the foremost priority of ICAP to provide opportunities for capacity building of audit firms of the country.
Keeping this in view, ICAP intends to facilitate its members in obtaining audit software. The audit documentation software is expected to increase the efficiency and productivity of the audit process, including risk assessment, scheduling & planning fieldwork & review etc.
In pursuance of the above objective, ICAP already communicated its members on January 30, 2020 regarding CCH Audit Automation from Wolters Kluwer UK (WK) at a discounted price.
Now ICAP has also negotiated a discounted price from Smart Audit Singapore for its ‘Smart Audit’ an audit software. The price per user is USD 19.8 per user per month upto 3 users and USD 12 per user per month for each additional user.
For details you may visit SmartAudit | The smartest cloud-based Workpaper Management Solution for SMPs | Home
ICAP shall reimburse 50% cost for upto three users for first three years upto a maximum of USD 120 per user per annum for those firms who have audits of upto 3 PIC’s. (Reimbursement shall be made in equivalent Pak Rupees). A member may use any software compliant with International Standards on Auditing. The required information shall be submitted to the Secretary for reimbursement.
Note: There may be other ancillary costs such as cost of laptops, server etc.