09-13-2006, 09:23 PM
Exploitation bus or kuch nae. ICAP makes policies only to benefit its members. See the lavish living styles of audit partners. They just feast on the hard efforts of the trainees.
Audit trainees are the lowest paid professionals in Pak. When I came here (middle east) I was surprised to see the level of salaries (stipend) for beginners in audit firms. A beginner ( bilkul kora) got more than 30 times than what you mentioned (Rs3200). Even now scale has only gone up never down. OK audit fee may be higher compared to Pak but even then average salary per audit trainee per audit fee is more. This level of salary is enough for you to save and even support your family back home. The paltry amount CA firms pay is not even enough to pay your gasoline bills. Imagine you being the eldest son, your father is weak and old and you are the sole earner. Are you ready to spend 5 + years doing CA even when you are not sure about the outcome. Can one afford the luxury of doing CA. So which one is expensive CA or ACCA. I am not judging which one is better. My point is you can always earn a decent living while doing ACCA. And its only the pre-qualification period I am talking about. Itâs a different ballgame altogether when one qualifies.
ICAP really needs to revise it stipend rates, they are painfully low. ACCA in the form of strongest competitor is already out there in the market churning out 250 + accountants every six months. I can see the time when CAs will only be needed in statutory capacities. ACCAs with their rapid growth and with industry focused outlook have already started bagging good jobs. And the numbers of students attracted to CA are falling every year.
A legal cover cant protect ICAP for long.
Regards,
Asif
Audit trainees are the lowest paid professionals in Pak. When I came here (middle east) I was surprised to see the level of salaries (stipend) for beginners in audit firms. A beginner ( bilkul kora) got more than 30 times than what you mentioned (Rs3200). Even now scale has only gone up never down. OK audit fee may be higher compared to Pak but even then average salary per audit trainee per audit fee is more. This level of salary is enough for you to save and even support your family back home. The paltry amount CA firms pay is not even enough to pay your gasoline bills. Imagine you being the eldest son, your father is weak and old and you are the sole earner. Are you ready to spend 5 + years doing CA even when you are not sure about the outcome. Can one afford the luxury of doing CA. So which one is expensive CA or ACCA. I am not judging which one is better. My point is you can always earn a decent living while doing ACCA. And its only the pre-qualification period I am talking about. Itâs a different ballgame altogether when one qualifies.
ICAP really needs to revise it stipend rates, they are painfully low. ACCA in the form of strongest competitor is already out there in the market churning out 250 + accountants every six months. I can see the time when CAs will only be needed in statutory capacities. ACCAs with their rapid growth and with industry focused outlook have already started bagging good jobs. And the numbers of students attracted to CA are falling every year.
A legal cover cant protect ICAP for long.
Regards,
Asif
