Cost Audit Rights of ICMAP - Why ICAP is allowed?

[shahbaz_Noor]

AA, first of all thank for sharing valuable information and guiding new comers in this field to decide what they want to be an all rounder or just a peace of accountant. if you want to be all rounder join chartered accountancy and if you want to be just an accountant you should join Management Accountancy, cost audit is not compulsory but i think it is more important than financial audit, cost audit of necessities like food,sugar, etc, is more important as due to proper check and balance government can control the price of necessities. and it is must be conduct by management accountant as he is professional trained in field of cost and costing. if it is not possible than chartered accountant should not be allowed to conduct without hiring services of Management Accountant firm.

CMA can do financial audit of firm having paid up capital less than 2 million.

CMAs have very good systematic thinking and system scanning skills to purify it with use of risk assessment tools, but CA has good power to tackle mistakes, fraud etc which is committed by accountants.

ACMA is not eassy as one of fellow in forum rated CA very tuff and argued it is very difficult to pass CA, Cost and Manament Paper, i just want to add one thing, if CA is as tuff than why did they imposed restriction on ACMAs that ACMA can give paper after two year after ACMA

both have their education system and syllabus we should not criticise each other