09-21-2006, 03:07 PM
Hi everyone
This thread is really interesting. I think SECP is finally taking some actions that improves corporate governance. Why this thread is SECP VS Chartered Accountant?
The answer is that SECP and Govt has made a mistake by making auditing a monopoly of ICAP members. The scenario is different in other countries. The discriminatory law is the major factor that degrades the quality of the profession of Auditing. All professions are about quality and only the best professional prevails. I think it is the time that Govt should correct this mistake.
It only Toyota models are allowed to be sold in the market in the market and Toyota dealers are competing then what makes to you think that quality will not degrade. If Toyota has the best quality then it should not need any legal protection to survive in the market and specially Govt should not give legal protection to one brand.
This thread is really interesting. I think SECP is finally taking some actions that improves corporate governance. Why this thread is SECP VS Chartered Accountant?
The answer is that SECP and Govt has made a mistake by making auditing a monopoly of ICAP members. The scenario is different in other countries. The discriminatory law is the major factor that degrades the quality of the profession of Auditing. All professions are about quality and only the best professional prevails. I think it is the time that Govt should correct this mistake.
It only Toyota models are allowed to be sold in the market in the market and Toyota dealers are competing then what makes to you think that quality will not degrade. If Toyota has the best quality then it should not need any legal protection to survive in the market and specially Govt should not give legal protection to one brand.