Partnership Proposal

February 2016

About ACCA
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We
aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around
the world who seek a rewarding career in accountancy, finance and management.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity
and accountability. We believe that accountants bring value to economies in all stages of development. We aim
to develop capacity in the profession and encourage the adoption of consistent global standards. Our values are
aligned to the needs of employers in all sectors and we ensure that, through our qualifications, we prepare
accountants for business. We work to open up the profession to people of all backgrounds and remove artificial
barriers to entry, ensuring that our qualifications and their delivery meet the diverse needs of trainee
professionals and their employers.

We support our 178,000 members and 455,000 students in 181 countries, helping them to develop
successful careers in accounting and business, with the skills required by employers. We work through a
network of 95 offices and centres and more than 7,110 Approved Employers worldwide, who provide high
standards of employee learning and development. Through our public interest remit, we promote appropriate
regulation of accounting and conduct relevant research to ensure accountancy continues to grow in reputation
and influence.

About Punjab Group

The Punjab Group has its roots in a Commerce College set up in Lahore in 1985. Over a period of 28 years,
the Group has grown into the largest educational network in Pakistan providing top quality education from
Playgroup to Ph.D with a student body of 259,000.

The Punjab Group consists of Educational Excellence Limited, National Communications Services (SMC-Pvt.)
Limited, Tower Technologies (Pvt.) Limited and National Educational Network (Pvt.) Limited, the later having
been set up in 2010 for the purpose of franchising Elementary, Secondary and Higher Secondary Education
across the country in the form of schools and colleges. The Franchised Schools are known as Allied Schools. In
almost four year time, the franchised system has opened 500+ Allied Schools, enrolling up to 140,000
students in 225 cities. National Communications Services (SMC-Pvt.) Limited owns and operates one of the
largest and most sophisticated Television Networks in Pakistan known as Dunya TV Network and with colleges
affiliated with the Boards of Intermediate and Secondary Education and Public Sector Universities across the
country. Roznama Dunya is a new addition in the communication network side.

The Group also owns and operates three Universities chartered by the Sindh Government and the Government
of Punjab. Mohammad Ali Jinnah University (MAJU), chartered by the Government of Sindh, has one Campus
in Karachi and the other in Islamabad which is spread over 80 Kanals in Zone-V of Islamabad. The University
of Central Punjab, chartered by the Government of the Punjab in 2002, is housed in a grand and purpose-built
Campus, having a covered area of 500,000 Sqft located in Johar Town, Lahore. At present more than 15,000
students are enrolled in these universities.

Existing Collaboration between the Punjab Group and ACCA

ACCA enjoys excellent working relationship with the Punjab Group since 2008. The collaboration started with
the launch of a BSc Hons in Applied Accounting at the University of Central Punjab which was designed in line
with the ACCA curriculum exactly embedding most of the ACCA qualification to the degree programme. To
recognise the prior learning of these students, ACCA has accredited this degree for exemptions in 2013 i-e
exemption from 9 out of 14 ACCA examinations. This is the maximum number of exemptions, ACCA awards to
any academic degree or a professional qualification globally.

Building further on this, the University of Central Punjab and ACCA have jointly worked on the syllabus
alignment and review of other programmes. As a result of which, we have 4 degree programmes offered by the
Faculty of Commerce at the University of Central Punjab that are aligned with the ACCA Qualification. This
includes 3 ACCA Accredited Programmes (BSc Hons in Applied Accounting, BCOM (Hons) and M.COM) and 1
ACCA Embedded Programme (MS Applied Accounting and Finance). ACCA values this partnership and
provides scholarships/ financial incentives to graduates and students from these programmes upon their
enrollment with ACCA for completion of remaining ACCA exams.
Partnership Proposal
February 2016

Both organisations formally documented the relationship by signing an MoU in 2014 to further strengthen this
relationship and explore new areas of collaboration like, undertaking joint research projects, developing
pathways for ACCA members and students to gain academic degrees; and other areas that would interest both
organisations at later stage.

Enhanced Collaboration
Building further on the valuable relationship, ACCA would like to propose the following

1. Group-wide offering of exemptions and scholarships

The M.Com programme offered by the University of Central Punjab in approximately 50 colleges across
Pakistan has been accredited by ACCA for 8 exemptions. Students graduating with the M.Com can join
ACCA without incurring any initial costs. This proposition is available for the graduating batches this year
as well as for all alumni from January 2014 onwards. As this offers great value to students and alumni of
the Punjab Group, we would like to initiate an outreach and awareness campaign whereby ACCA will
provide human resource to conduct presentations and seminars and the Punjab Group team would provide
necessary introductions and statistics.

2. Similar arrangements for other relevant programmes

There is a great potential in accrediting the Associate Degree in Accounting & Finance Programme offered
by the University of Central Punjab which is being taught at various locations within the Punjab group. As
this degree offers a much more advanced and heavy curriculum than a 2 years B.Com, it appears that a
good number of exemptions can potentially be awarded to graduating students.

3. Offering an alternate discipline to I.COM

ACCA offers two distinct qualifications; a- ACCA Professional Qualification designed for University
graduates and A Levels; b- ACCA Foundation Diploma designed for school leavers.

ACCA Foundation Diploma comprises of 7 examinations that can be completed within 12-18 months. All
examinations are conducted on computers and are available throughout the year at ACCA Licensed
Computer Based Examination Centers.

ACCAs Foundation diploma has recently been recognized by IBCC equivalent to an Intermediate with
Commerce upon completion of three additional exams with IBCC (Business Mathematics, Statistics and
Principle of Economics).

Foundation diploma has modern and world class curriculum and assessment methodology, therefore this
product is exactly in line with Punjab Groups aspiration to modernise the Intermediate level qualifications
for Commerce students. We propose offering ACCA Foundation Diploma at all Punjab Group colleges as an
alternate discipline. ACCA is committed to provide the required level of support and assistance with the roll
out of the Diploma and necessary tutor trainings.

Students who complete ACCAs Foundation Diploma with Punjab Group will have the following three
options on the basis of its national and international recognition;
1. continue with ACCA professional programme with exemptions from 3 papers
2. take any associate or honors degree programme at one of Punjab Groups campuses
3. take any other under graduate programme locally or internationally without needing to complete
any bridging module.

Next Step
To organise a formal meeting between the Education team at ACCA and senior management of the Punjab
Group to discuss this proposition in detail and agree on the way forward.