NUT news Desk updated that ACCA (the Association of Chartered Certified Accountants) hosted a  corporate networking luncheon in Peshawar to provide an opportunity to local business leaders and policy makers to sit together and explore new partnership opportunities and play a more impactfullrole in developing Khyber Pakhtunkhwa (KP) into a hub of economic activity and innovation. 

Advisor to CM Ziaullah Bangash on Elementary & Secondary Education attended the event as the Chief Guest and briefed the business and education community on key education reforms introduced by the KP government.

KP Chamber of Commerce and Industries was the Guest of Honour

Maqsood Anwar Pervaiz, President, KP Chamber of Commerce and Industries was the Guest of Honour. In his speech, he shared his exclusive insights into local business and education needs and explained why KP is perfectly positioned to become an engine of growth for the country.

The luncheon was attended by a large number of corporate and academic leaders from ACCA’s diverse network of employers in the province. ACCA’s Market Head – Business Development, Assad Hameed Khan, in his welcome address explained that ACCA’s standing as a super connector means we create wider opportunities for our stakeholder and the economies where we operate.

Prominent attendees included Fayyaz Jarral, CFO, FF Steel, Dr. Zia Ur Rehman, CEO, North West General Hospital, Masood Ul Mulk, CEO, Sarhad Rural Support Programme, Dr. Najeeb Ullah, Director, US-Pakistan Centre for Advanced Studies in Energy, Dr. Mohsin Khan, Director, Institute of Management Sciences, Faisal Jamil, Executive Vice President, LMKT, Muhammad Munaim, Director Finance, KP IT Board,      Maryam Arshad, CEO, Impact Dynamics, Mujahid Farooqi, Advisor on Economic Growth for KP, USAID, and Suniel Jamil, Group General Manager, Zakori Group.

ACCA is the global body facilitate to professional accountant & organisations

 

ACCA is the global body for professional accountant which uses its unrivalled connections across the world to connect people with fulfilling careers, organisations with the best finance talent, and economies with the ingredients for growth.

 

Islamabad (Muhammad Yasir) The Beaconhouse Group, Pakistan’s leading & largest private education system recently launched its newest venture, The Beaconhouse International Colleges (BIC) , with a groundbreaking ceremony of its flagship campus in Islamabad. 

Beaconhouse International Colleges aim to provide the world’s best transnational higher qualifications to its students in an environment conducive to developing the skills and attributes necessary to actualize their aspirations and to become responsible global citizens. The Colleges would offer BTEC Level 3, Higher National Diplomas as well as international undergraduate degrees from the world’s leading institutions. 

Speaking at the event, Mr. Nassir Kasuri, Executive Director Beaconhouse shared his vision regarding BIC and reiterated the group’s resolve in being path definers and leaders in quality educational services. In addition to the flagship campus in Islamabad, which would have all the facilities that a modern purpose-built university has – Faisalabad, Karachi and Lahore would also be opening their doors in the coming year. Vindicating its position as a visionary company and being future-forward while being socially responsible the Islamabad campus would be completely powered by solar energy. This is line to the group’s vision of running most of its campuses on renewable energy and helping to reduce the carbon imprint in the environment. 

The event was attended by government officials, academicians, Beaconhouse Energy Ltd International Partners and dignitaries including Mr. AzharLatif, Director General Services HEC, Mr. Derek Richardson, Vice President Pearson, Ms. PremilaPaulraj, Director Asia Pearson, Ms. UzmaYousaf, Country Director of Pakistan Cambridge International Education, Mr. Waqar Ahmed Shah, Business Head BTEC Qualifications, Mr. Faisal Mehmood, Business Head Academic, Mr. UmerFazail, Business Head Resources, Mr. Eugene Chong, GM South East Asia, Canadian Solar Pte Ltd, GM JA solar, Gary Ding, Sales Manager Asia, JA Solar Ltd and Mr. Howard Fu, Country Manager, APAC Region, Sungrow Power Supply CO.Ltd.

   

Image Caption: The Beaconhouse Group, Pakistan’s leading & largest private education system introduced transnational education with the launch of the Beaconhouse International Colleges (BIC), with a groundbreaking ceremony in Islamabad.

Pakistan tops international Female Engineers MOL Program 2019

Lahore (Muhammad Yasir) Pakistan’s Misbah Hamid along with two other international engineers declared winner at the grand finale of ‘Female Engineers MOL Program 2019’ which recently concluded in Budapest, Hungary.

The program is solely designed for the female students that are undergraduate degrees in the fields of Geoscience, Petroleum Engineering, Chemistry, Petchem and other fields of STEM (Science, Technology, Engineering and Mathematics) studies. The basic aim of the programme is to inspire and help female students to become future leaders in oil & gas sector. Program which is run by MOL Group, a Hungarian oil & gas group enables all the countries under its umbrella of business to participate.

After the pre-selection in which almost 120 applicants competed to enter the final, the best 11 candidates had 24 hours to solve a current MOL business challenge, present it to the jury and give individual presentations on the topic of Gender Diversity.

It is pertinent to mention here that this was third in-a-row competition arranged by the group and Pakistani female engineers have topped each competition since its inception. Prior to Misbah Hamid, Sarah Mujahid and Manhal Mumtaz first two competitions.

This year, after going through a rigorous and predefined selection criteria, shortlisted female engineers were invited for the live final in Budapest. Top three engineers including Misbah Hamid, Iva Lončar from Croatia and Lenka Galčíková from Slovakia were acknowledged with scholarships, the opportunity for participating in an international oil & gas conference and possible employment with MOL Group.

MOL Group congratulates the Pakistani women that have time and again made us proud at international level.

The Karachi School of Business and Leadership KSBL Awards Degrees to MBA at 5th Commencement Ceremony 2019

Karachi (Muhammad Yasir)  The Karachi School of Business and Leadership (KSBL) conferred degrees to the batch of MBA 2019 at the 5^th Commencement Ceremony, held at the KSBL campus. The commencement event was opened by the Founding Chairman of KSBL Mr. Hussain Dawood. The keynote speaker for the ceremony was Chairman SECP Mr. Aamir Khan.

The Founding Chairman of KSBL, Mr. Hussain Dawood in his address to the graduating students said, “At KSBL we endeavor to train people to effectively manage scarce resources honorably and sustainably. Resources are the strength of an economy, and effective utilization of resources adds to the wealth of a nation. If Pakistan is to become a developed nation, its people must first be given the opportunity and the means to develop into leaders who specialize in the management of resources in all aspects.”

The keynote speaker, Mr. Aamir Khan addressed the ceremony and congratulated the students for graduating from one of the region’s finest academic institutions. He encouraged graduates to always practice impeccable work ethics and adhere to them with integrity, which is the cornerstone of all moral values.

On this occasion, the Dean KSBL Dr. Zeeshan Ahmed applauded the academic achievements of the graduating class who essentially raised the bar by achieving the highest GPA and secured two consecutive CFA challenges. He mentioned that the placements for this batch were made in record time.

Punjab Skills Development Fund (PSDF) signs contracts to fund specialized training for Non-Muslim Youth

Lahore (Muhammad Yasir) Punjab Skills Development Fund (PSDF) organized a contract distribution ceremony for training service providers that qualified under its scheme “Employability Skills for Non-Muslim Youth”.

Speaking at the ceremony as chief guest was Minister for Human Rights and Minorities Affairs, Mr. Ijaz Alam Augustine, who outlined the problems that Non-Muslim youth face in Pakistan: poverty, lack of access to education or skills resulting in low paid jobs. He emphasized the need for various stakeholders from the public and private sector to come together and find viable solutions. He commended PSDF, and the training service providers in taking this initiative to improve employability for Non-Muslim Youth in Punjab.

Mr. Ali Akbar Bosan, Chief Operating Officer at PSDF said that the scheme for “Employability Skills for Non-Muslim Youth” represented PSDF’s commitment to provide skills training to vulnerable and marginalized segments of the population. He reiterated that this scheme stemmed from the belief at PSDF that all communities be given equal education, training and economic opportunities.

This scheme is part of the UMEED (Upskilling Marginalized youth for Employability, Empowerment and Dignity) programme at PSDF, which is designed to help ease the transition of marginalized communities into mainstream skilled employment opportunities that have a high earning potential. The skills imparted to the youth are in market relevant and demand driven trades, ranging from AutoCAD, Mobile Development and Graphic Design, to Industrial Operators and Beautician. PSDF has actively involved multiple employers, industrial units and formal training institutions to ensure demand driven training and placement. The aim of this scheme is to ultimately train 5,000 Non-Muslim youth, across 17 different districts in Punjab.

CEJ-IBA and Nestlé Pakistan organized a workshop for journalists

Lahore (Muhammad Yasir) The Centre for Excellence in Journalism at the Institute of Business Administration, Karachi (CEJ- IBA) in collaboration with Nestlé Pakistan organized a one-day workshop on Basics of Nutrition and Health Reporting: Nutrition as a source of News for nutrition and health reporters in Lahore. The training was attended by more than 20 mid-level journalists covering health and business beats in print, broadcast and digital platforms from various media organizations.

The workshop was led by Director IBA-CEJ Kamal Siddiqi. The workshop featured guest speaker sessions with nutritionists, policy experts as well as senior journalists including, Public Health Specialist, Dr. Fauzia Waqar; freelance journalist, Zofeen Ebrahim; Mobile Journalism (MoJo) Instructor at Geo TV Network, Muhammad Rahamdil Khan; and Head of Research, Business Recorder, Ali Khizar Aslam.

The training elaborated on the nutrition profile of Pakistan and highlighted the reasons which make nutrition such a crucial issue. There were sessions on Pakistan’s health system and policies, its particular issues with a special focus on nutrition as a source of news in a country where malnutrition is widespread. According to the Nutrition Survey of Pakistan 2019, stunting is a major problem in Pakistan, with 12 million children having low height for age with severe micronutrient deficiencies including iron deficiency which is the major cause of anemia. More than half (53.7%) of Pakistani children are anemic and 5.7% are severely anemic.

Speaking on the occasion, Director IBA-CEJ, Siddiqi said, “Nutrition and health are very important areas but are generally neglected when it comes to reporting. That is why we need to work with journalists so that they can work on them and do better reporting.”

Commenting on the training, Head of Corporate Affairs Nestlé Pakistan, Waqar Ahmad said, “Spreading awareness about nutrition, health and wellbeing is part of our commitment to the United Nations Sustainable Development Goal (SDG) 3 of Good Health and Well-Being, to ensure that people understand the value of nutrition and physical activity and continue leading healthy lives. Such workshops help us achieve our goal as journalists are the ones who voice their views and extend knowledge among masses.”

Participants examined the existing health and nutrition-related news in media, and discussed the gaps in reporting, and ways to fill these gaps.

Why ethics must be at the heart of AI

Lahore (Muhammad Yasir) Artificial Intelligence (AI) and machine learning (ML) are more than trendy or futuristic topics – they are real computing advances that are playing out in homes and businesses today in Pakistan and the rest of the region.

While it’s said that 90% of future jobs will need some level of digital literacy – augmented reality alone currently valued at $2 billion is expected to grow to $200 billion in the next two years. Adding to this, according to Gartner Inc., in 2020 AI will become a positive net job motivator creating 2.3 million jobs. Global business value derived from artificial intelligence is also forecasted to reach $3.9 trillion by 2022.

In Pakistan, the Information TechnologyMinistry is working on the infrastructure of AI and in so doing, collaborating with the Higher Education Commission (HEC). Local government has also invested Rs 1.1 Billion for Artificial Intelligence Projects in 6 Universities.As you can tell-this technological frontier has become a priority in the future planning on many organisations and governments alike.

In simple terms, AI is a machine’s ability to reason, and make decisions based on that reasoning, in similar ways to human beings. AI systems learn and evolve over time, so in theory AI can improve itself; the software becomes the software developer.

This creates the potential for exponential gains in analytical and automated processes through AI. Because of this we stand at a critical juncture in the AI journey – a moment in time where we get to define not just what AI can do, but how it does it.

Boosting productivity and unlocking growth

As it goes mainstream – thanks to the cloud, deep learning, and big data – AI will boost productivity and unlock economic growth. It will transform the workplace, and change the shape, look and feel of many industriesincluding health, transport, manufacturing, and more.

But for some, the rise ofAI conjures images from the Terminator films or WestWorld TV series. In these stories, humans are at the mercy of these faster, stronger, smarter systems with no ethical hang-ups. These narratives are clear on the problem with AI as they imagine it: no humanity, no heart.

Exploring ethics within capabilities

The ethics of AI goes beyond just regulation and legislation. It’s fundamentally about creating an operating framework that limits and directs the priorities of an AI system.

A real-world example is how one might program adriverless motor vehicle to treat an imminent crash. Should the system act to save its own passenger or should it prioritise the life or safety of a pedestrian? We need to know where we stand on these kinds of issues, to tell learning, thinking machines how they should handle them.

If AI can give us natural language interaction, what are the rules we put in place to manage its responses, or to ensure it doesn’t discriminate against non-native English speakers, for example?

If an AI business analytics system can unlock new sales techniques or customer journeys, are these ethical and fair for customers? What does the system do with the private and personal data it collects before, during and after these interactions?

There is a myriad of concerns at play once you scratch beneath the surface.

At Microsoft we take this responsibility extremely seriously. In fact, one of our three core pillars in this field is: “developing a trusted approach so that AI is developed and deployed in a responsible manner”. This relates directly to the principles of fairness, accountability, transparency and ethics (or FATE) that guide us in ensuring our AI systems are fair, reliable and sage, inclusive, transparent and accountable, and private and secure.

Of course, principles are only as good as the processes that flow from these. In “inclusivity” for example, we believe that to achieve AI that is inclusive, we must nurture inclusivity and diversity in the teams creating the systems – and that the output is just as inclusive. These are the kind of concerns that our internal advisory committee examines, to help ensure our products adhere to these principles.

The bigger picture

We must also be aware that we are not the only player in the game – that AI advances will happen across companies, NGOs and countries. This is where the role of leadership, and the guidance of community, will be critical. We are an active participant in AI-related forums and organisations, such as the Partnership on AI, for this exact reason – and we encourage all AI players to get involved and help us develop the best practices for AI.

Our approach to AI is grounded in, and consistent with, our company mission to help every person and organisation on the planet to achieve more.

If we remain true to this – as we always strive to be – then we must also consider how to mitigate any of the potential downsides that might result from technological advancement. Onesource of fear for many, is the idea that AI will change our workplaces and – in certain cases – eliminate jobs. Mitigating this will necessitate nurturing new skills and preparing the workforce (and those who will soon join it) for the future of work.

The transformative power of AI will also mean more regulation from governments across the globe – and across the progressive-conservative spectrum. This will bring private and public sectors into closer collaboration, so AI providers must be prepared to engage, to train, to advocate, and to listen, as we move towards a consensus on the values that we inculcate into AI systems.

Fear not – we’ve found the sweet spot

Some people will always fear the unknown, and others will always stride forward in pursuit of progress. The sweet spot lies between them – in the power of AI to unlock creativity, potential and insight, while still behaving in an ethical and responsible manner.

Put aside the scary chapters of a science fiction future for a moment. There is another icon of pop culture that applies – Mary Shelley’s classic tale of Dr. Victor Frankenstein and his monster. In Frankenstein, the doctor is driven by ambition and ego, to create a being made up of parts, reanimated into life. But the doctor is horrified by the creature he creates and abandons it rather than guiding it and helping it into this new life it finds itself in – ultimately leading to deadly consequences.

The spectre of that ghoulish creature looms large in our minds, but – as the novel so wonderfully conveys – the real monster in Frankenstein is the doctor, the flawed man who creates a life without consideration of the chain of events he has set in motion. Similarly, those of us working in AI today need to be sure that we give our own “creation” firm rules and guidelines for operating in the world.

 

 

Karachi (Muhammad Yasir) The Karachi School of Business and Leadership (KSBL) conferred degrees to the batch of MBA 2019 at the 5th Commencement Ceremony, held at the KSBL campus. The commencement event was opened by the Founding Chairman of KSBL Mr. Hussain Dawood. The keynote speaker for the ceremony was Chairman SECP Mr. Aamir Khan.

The Founding Chairman of KSBL, Mr. Hussain Dawood in his address to the graduating students said, “At KSBL we endeavor to train people to effectively manage scarce resources honorably and sustainably. Resources are the strength of an economy, and effective utilization of resources adds to the wealth of a nation. If Pakistan is to become a developed nation, its people must first be given the opportunity and the means to develop into leaders who specialize in the management of resources in all aspects.”

The keynote speaker, Mr. Aamir Khan addressed the ceremony and congratulated the students for graduating from one of the region’s finest academic institutions. He encouraged graduates to always practice impeccable work ethics and adhere to them with integrity, which is the cornerstone of all moral values.

On this occasion, the Dean KSBL Dr. Zeeshan Ahmed applauded the academic achievements of the graduating class who essentially raised the bar by achieving the highest GPA and secured two consecutive CFA challenges. He mentioned that the placements for this batch were made in record time.

 

Audit and AI – tentative first steps to improve audit quality and efficiency

Lahore (Muhammad Yasir) The audit profession is still at the very early stages of introducing artificial intelligence, but should guard against full implementation, reveals ACCA and CA ANZ’s Audit and Technology report.

A survey of ACCA members and affiliates about their understanding of terms such as artificial intelligence (AI), machine learning (ML), natural language processing (NLP), data analytics and robotic process automation (RPA), revealed technology’s ability to renew processes that improve audit quality and increase efficiency.

The report reveals how technology is also a catalyst that will help shift the focus of the audit process from a retrospective view to one which is prospective. It also assesses the technologies having most impact on the audit profession as we know it today.

Drawing on existing research and exploring the views of leading practitioners, it provides an understanding of how the changing business environment is shaping technological change in auditing – summarising how different technologies could be expected to impact its future and what this means for auditors as people.

Key findings in the report also revealed:

• Among the available technologies, data analytics is currently the most mature and is currently used by most firms
• The audit profession is still at a very early stage with AI and has not embedded it as deeply as it could
• The human relationship between client and auditor remains important: not everything can be replaced by technology
• Auditors will need to be more adaptable to change in future

ACCA’s report Closing the Expectation Gap in Audit found that 55% of the general public across 11 countries believe that, if auditors followed the requirements of existing auditing standards, they could prevent corporate failure.

Furthermore, 70% believe that audit should evolve to prevent corporate failure. Although some may reasonably argue that such demands are unrealistic, technology may help to satisfy the public demand, at least partly, in future.

Maggie McGhee, executive director – governance at ACCA, said: ‘Technology offers the ability both to improve the quality of audit and to add value to it: audit is moving from being a reactive, backward-looking exercise to a proactive, predictive, forward-looking one, working in real time.

‘As such, it provides an opportunity to help clients by providing timely insights. Even in its traditional context, technology now offers an opportunity to produce higher-quality audits that better serve for their existing purpose.

‘Nonetheless, if AI and related technologies are fully implemented, it could raise questions about the auditor’s independence.

‘We hope Audit and Technology provides insights for both businesses and auditors themselves on how they may adapt most effectively in the face of significant change.’

Simon Grant, Group Executive International Development and Advocacy & Professional Standing at CA ANZ, said: ‘If we can anticipate the possible impacts of technology and harness it so we understand the benefits to the accounting profession, technological change could then be such an empowering opportunity rather than a challenge for our profession.’

Haleeb Foods supports Free-Education, donating Rs.3 from every liter pack

Lahore (Muhammad Yasir)  Haleeb Foods one of the leading food and beverages company of Pakistan has now launched another social-development initiative, titled: “Donate to Educate – Agay Barhay Ga Pakistan”. In order to support Free of cost education for the underprivileged children, Haleeb has partnered with Master Ayub – a firefighter during the day, who has taken the noble responsibility of being a voluntary teacher in the evening. For the past 30 years, Master Ayub has been educating street kids, Free of Cost, by conducting a Park-School, in Islamabad.

With a pledge to provide financial assistance to Master Ayub, for supporting his selfless cause, Haleeb will donate 3 Rupees, from every liter pack purchased by the consumers. This donation from Haleeb is helping Master Ayub accomplish his dream of making schooling and associated expenses absolutely free for his pupil.

Sami Qahar – Commercial Director at Haleeb Foods lauded Master Muhammad Ayub for such a selfless initiative. He further added, “Being a socially responsible organization, we provide healthy dairy products to the people. We are pleased to partner with Master Ayub’s cause and his school, which has taught thousands of children, voluntarily, over three decades. His exemplary efforts are an inspiration for all. Every resourceful individual and enterprise must identify such ‘Heroes of Pakistan’ and extend maximum support to them. Education is transformation for students, as well as their family, community, and country.”

Belonging to a poor family, Master Ayub lost his parents at a young age. However, he worked very hard, day & night, to study along with the responsibility of rearing his 5 brothers and 3 sisters who are all well-educated now. With his limited resources he has created a free-school for poor children, where he also gives them free books and copies. Over the decades, thousands of children have already studied in this school to get into respectable employment or businesses, while others are getting higher education in colleges or universities.

The students and their parents express their gratitude and prayers for Master Ayub, who has transformed their lives. They believe that; Haleeb kay Saath – Agay Barhay Ga Pakistan. Many students are inspired to follow their great teacher’s foot-steps.  

Haleeb is adopting global best-practices and innovative technologies, to ensure consistent production and nation-wide availability of safe and healthy, packaged dairy products. It is creating public-awareness and educating the masses about the advantages of consuming hygienic and high-quality, nutritional dairy products to nurture a more vital and productive nation. Being the 5^th largest milk-producing nation in the world, Pakistan’s dairy industry is creating large-scale employment opportunities for the farmers in the rural regions, while ensuring the well-being of the urban areas, for a sustainable economy.

Other remarkable initiatives of Haleeb includes; the collection, reuse and recycling of old vinyl billboard skins from Advertising agencies and companies. Instead of dumping the old panaflex skins as garbage, Haleeb is up-cycling them to create sheds of upto 4,000 square feet for dairy ranchers. Such sheds, tents and overhead covers are already protecting the cattle and farmers from the scorching heat, in District Jhang of Punjab.