11-01-2010, 11:23 PM
i went to icmap on friday to attend a seminar. during councluding remarks by hanif ajari (VP-ICMAP), he mentioned icap NC has passed resolution against ACCA, denying them any exemptions at all from any course of icap. apparently they have woken up to the reality as acca has recently applied to secp for recognition as the third accounting body in pakistan )
icap is now trying its level best to somehow banish acca from pakistan forever but at this moment their are 40k students enrolled in acca. as a matter of fact they have more members in pakistan than icap and icmap combined )
hanif ajari earlier was of the view that acca members have now reached some very powerful positions in pakistan in the finance sector & some of icap members who got icap membership through the earlier exemption scheme available to acca members (taking just 3 papers on the basis of acca- pass). it would be interesting to know that a long time ago i heard from some icap students that this scheme was introduced by najam chaudhry (ex snr partner- AFF) as his son was doing acca and he wanted him to qualify ca from icap but sweet justice that his son failed to do so....
i think it would be interesting to c in the coming months and years how this 'very late' banishment of acca will effect market value of local bodies i.e. icap and icmap.
on a personal level, i think its ethically wrong as this thing will adversly affect acca students and members, who would have trouble finding a snr position job after next few yrs due to this policy!
laslty it is also rumoured icap NC will also actively urge firm partners not to hire acca trainees for audit purpose!
icap is now trying its level best to somehow banish acca from pakistan forever but at this moment their are 40k students enrolled in acca. as a matter of fact they have more members in pakistan than icap and icmap combined )
hanif ajari earlier was of the view that acca members have now reached some very powerful positions in pakistan in the finance sector & some of icap members who got icap membership through the earlier exemption scheme available to acca members (taking just 3 papers on the basis of acca- pass). it would be interesting to know that a long time ago i heard from some icap students that this scheme was introduced by najam chaudhry (ex snr partner- AFF) as his son was doing acca and he wanted him to qualify ca from icap but sweet justice that his son failed to do so....
i think it would be interesting to c in the coming months and years how this 'very late' banishment of acca will effect market value of local bodies i.e. icap and icmap.
on a personal level, i think its ethically wrong as this thing will adversly affect acca students and members, who would have trouble finding a snr position job after next few yrs due to this policy!
laslty it is also rumoured icap NC will also actively urge firm partners not to hire acca trainees for audit purpose!
