Qualification details of certain positions in listed companies as per

the code of CG 2019

By Daniyal Aqeel

Details of qualification for CFO as per the code of CG 2019:

 He or she shall be a member of ICAP or ICMA Pakistan and shall possess minimum 3 years of
managerial level experience in audit or finance or accounting or corporate affairs of a company.
 He or she shall be a member of professional body* of accountants whose degree shall be
recognized by the HEC, Pakistan or shall have a post-graduation degree in the field of finance
from HEC recognized university of Pakistan and shall possess minimum 5 years of managerial
level experience in audit or finance or accounting or corporate affairs of a company.
 He or she shall have a suitable degree from abroad or HEC recognized university of Pakistan and
shall possess minimum 7 years of managerial level experience in audit or finance or accounting
or corporate affairs of a company whose suitability shall be evaluated by the commission on
application from the company.

Details of qualification for internal auditor as per the code of CG 2019:

 He or she shall be a member of ICAP or ICMA Pakistan and shall possess minimum 3 years of
relevant experience in audit or finance or compliance function of a company.
 He or she shall be a member of professional body* relevant to such qualification whose degree
shall be recognized by the HEC, Pakistan or shall have a post-graduation degree in the field of
finance or business from HEC recognized university of Pakistan and shall possess minimum 5
years of experience in audit or finance or compliance of a company. Additionally, he or she shall
possess either internal auditing certification or fraud examiner certification or Internal control
auditing certification.
 He or she shall have a suitable degree from abroad or HEC recognized university of Pakistan and
shall possess minimum 7 years of managerial level experience in audit or finance or accounting
or corporate affairs of a company whose suitability shall be evaluated by the commission on
application from the company.

Details of qualification for company secretory as per the code of CG 2019:

 He or she shall be a member of a member of a recognized body of corporate / chartered

secretaries or professional body* whose degree shall be recognized by the HEC, Pakistan or shall
have a graduation degree in the field of law or business or commerce from HEC recognized
university of Pakistan and shall possess minimum 2 years of experience in related field.
 A single member company a person with bachelor qualification from HEC recognized university.

*Professional body (of Accountants) means

1. If established inside Pakistan, then it shall be governed under a special representation of
the Federal Government as a self-regulatory organization managed by a representative
National Council, and has a prescribed minimum criterion of examination and entitlement
of membership of such body
2. If established abroad, then it shall be governed under a special representation of the
government there with membership in IFAC (International Federation of Accountants)