KARACHI: The Institute of Chartered Accountants of Pakistan (ICAP) in collaboration with Unilever Pakistan organized National Finance Olympiad 2018, Grand Finale of which was held at a Marriott hotel in Karachi. The event, organized by ICAP’s Professional Accountants in Business (PAIB) Committee, was attended by the top management of renowned national and multinational organizations. The top six qualifying teams who competed against each other included The Professionals’ Academy of Commerce, The Lone Rangers, Tabani’s School of Accountancy, Midas Safety, EY Ford Rhodes, and Meezan Bank Ltd.
In his opening remarks, Khalilullah Shaikh, FCA, Chairman PAIB Committee and Council Member ICAP welcomed the participants and revealed the vision for Pakistan’s first ever Finance competition for professionals. He said that the objective of the event was to provide a platform to finance professionals for engaging in a competition that aided their professional development in a unique manner, put them in practical situation where they are forced to make decisions on the spot, thereby, encouraging them to discover their potential, while exhibiting their talent.
Mr. Sohail Baig, Finance Director – Unilever, spoke about the changing dynamics of the Finance and Accounting profession, and stressed on the importance of Digital media. He stated that such events were not only beneficial for professional growth but also a platform for networking and developing the social circle. He commended ICAP for arranging such an amazing event in the form of NFO 2018 and hoped that this competition would continue to evolve with the passage of time.
The competition kicked off with a quick introduction of the teams followed by the Debate Round which was judged by a panel of distinguished judges, namely; Fakir Syed Aijazuddin, Rahila Narejo and Asif Saad.
The topics on which the teams debated, included; Media censorship – A step in the right direction?, Is devaluation the right strategy to stabilize economy?, and Is private sector important for thriving education system in Pakistan? The second and last round of the competition was the Buzzer Round, which tested the agility and technical knowledge of all finalist teams. While the teams made efforts to outscore others, the audience remained captivated and supported all the teams wholeheartedly.
After the evaluation of the debate and arguments put forth by the teams, the judges evaluated each team’s performance and the results were announced; Professional Academy of Commerce (PAC) claimed victory while EY Ford Rhodes and Lone Rangers Dubai became the 1st and 2nd Runner Ups respectively. The winning team was awarded a majestic Champions Trophy, Mac Book Air and shields for each of the three team members. Whereas, the 1st Runner Up Team received iPhone6s along with shields and the 2nd Runner Up Team received iPads and shields for all team members. Certificates were also awarded to all the finalist teams.
The worthy Jury Members shared their thoughts on the competition stating that such kind of events should be held frequently, as they were much needed for both professional and personal growth. They termed the NFO as the best platform, where participants got an opportunity to learn from each other.
The closing remarks were presented by President ICAP, Mr. Jaffar Hussain. He emphasized the importance of finance professionals working in the industry and the initiatives taken by ICAP to facilitate them. The President congratulated the proud winners and showed gratitude to the NFO organizing committee, technical partners, learning partner, media partners, jury members, ICAP Examinations Department, Information Technology Department, MARCOM department, Unilever Pakistan and everyone who made this event a success. He hoped more participation and momentum in NFO 2019.
The National Finance Olympiad 2018 started with registrations of 40 teams from renowned organizations across Pakistan. After a 3-hour intense MCQ-based examination held simultaneously in Karachi and Lahore on December 13, 2018, fifteen teams qualified for the Simulation Round. The Qualifying teams then went through a Harvard Case Study Simulation at Karachi School of Business and Leadership (KSBL) wherein top 6 Finalist teams emerged to compete in the Grand Finale. The entire testing material was developed by the technical partners; A.F. Ferguson & Co. and KPMG.
The National Finance Olympiad is a unique initiative by ICAP providing a distinctive platform to finance professionals working in industry and firms to come together, compete and celebrate their competence. NFO 2018 aims to exhibit and celebrate the talent of finance professionals in Pakistan while providing a networking opportunity to meet the bright, young minds of the profession. BIZ TODAY REPORT
