STIPEND

Stipend is the nominal amount paid to audit trainees during the course of their training period. Stipend is set by the professional body governing Chartered Accountancy in Pakistan called Institute of Chartered Accountants of Pakistan (ICAP). One of the many factors affecting rate of stipend is Minimum Wage rate in Pakistan. Rate of stipend differ depending on the time period during the training. It is as follows:

SIXTY FIVE HUNDRED Rs. 6,500:

From the start of the training period till the passing of Module E.

TEN THOUSAND Rs. 10,000:

After the Module E or F is passed. Students who pass any 3 subjects of Module E are eligible for attempting Module F as well. If such students pass complete Module F while failing one subject of E then still they will be eligible for Rs. 10,000 stipend.

TWENTY FIVE THOUSAND Rs. 25,000:

On qualifying (passing all modules from A to F)

Note: This will apply to students who have qualified within their training period. This stipend will continue to apply till the completion of training contract.

NOTE:  STIPEND IS ONLY PAID TO STUDENT WHEN THEY ARE REGISTERED WITH ICAP FOR ARTICLE-SHIP. STIPEND IS NOT PAID DURING INTERNSHIP. THOSE STUDENTS WHO ARE NOT ABLE TO PASS ALL SUBJECTS FROM MODULE A TO D MAY BE INDUCTED BY AUDIT FIRM BUT WILL NOT BE REGISTERED WITH ICAP FOR COMMENCEMENT OF TRAINING PERIOD RATHER RETAINED BY THE FIRM AS AN INTERNEE. USUALLY FIRMS PAY A "FURTHER NOMINALIZED" AMOUNT OF RS. 1,000 PER MONTH TO INTERNEES.