A giant firm. CMP is of the view that size does matter.
Well in my view giant sized firms are not good for the long-term wellbeing of the accountancy profession.
As these large organisation develop a bearucratic management style, and that style of management bring operational inefficiencies and ineffectiveness with it.
As we have seen in past globaly that audit has just became a legal formality and nothign else.
In my opinion Dada's of Accountancy profession in pakistan must strive to build strong profession and not strong firms.
In my opinion... only strong firms can build strong profession and professionals.
Weak firms will only create 'thappa chaap' professionals and weak professional ethics.
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Arrrgh... it sure's gonna be mighty rough sailin' today ... mates!
It's a good omen for staff of both the firms. Collectively these two big giants will create strong traditions. I foresee a very good institution in offing after the merger of these two big names.
It's a good omen for staff of both the firms. Collectively these two big giants will create strong traditions. I foresee a very good institution in offing after the merger of these two big names.
Hi Syed Ali Irfan kiya haal hain,
Its good to see you here. <img src=icon_smile_approve.gif border=0 align=middle> Why you have entered the same entry twice. Is it to put some weight in your statement
Normally in these type of combinations, firms that have stronger position lead at the top rankings. We have example of A F Ferguson (AFF) and Coopers and Lybrand (C&L) merger. Although C&L was having strong position in world than Pricewaterhouse however in Pakistan, as AFF was having majority of market share, they practically acquired C&L rather than merging the operations.
In case of Sidat Hyder merger with Ford Rhodes (FRRM), it was also expected that all top managing positions will be held by FRRM partners. But this is not the case as all lead positions (like managing partners for assurance and tax division) went to Sidat partners (which may be due to their experience and strong market reputation).
Considering above,in my views, the merger was good for ex-Sidat Hyder partners but it will not bring smile on ex-FRRM partners.
QV
Question is not of the liking or disliking of parteners of SHQ and FRRM.
The question is whether it is good for the profession or not?
As in my opinion it is not good for the profession, I have experienced that large organisations lack efficiency.
That may be your views that necersarily does not means final conclusion.
Since partners run the firm and they are the one who bring efficiency to the profession, their likings and disliking do matter.
If interests of employees in merged firm are not hurt, size does not matter.
QV
well, the latest and biggest merger in the corporate history of Pakistan is going to be between Pakistan's largest management consultancy (yeah, you guessed it right
) and Bundu Khan (the kebab wala)
Incentives
1. Free meals for the employees
2. Prospective audit assignments
3. Large market share (diversification into the consumables)
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nothing is better than that for the Partners of both the firms they will soon take over the Institute as well )