04-01-2006, 12:16 AM
ICAEW are working independently everywhere in the world.. Its just this simple that they authorise firms for ICAEW articleship...and ICAEW CA's will start producing. Even if they come with ICAP, one thing has to be accepted that ICAEW's will be starting to produce in Pakistan & almost in bulk. In their presence CA's reputation will decline dooooown.
I didn't meant that ICAP will become faqir i meant that it would not enjoy the same value in Pakistan. their value will be reduced much.
ACCA's are accepted widely in the UK & are considered equivalent to ICAEW. See Michael Page & Robert Walters salary surveys. These are considered as market leaders for financial recruitment in UK & around the world.
Thesew are qoutes from Robert Walter UK Survey
"Financail divisions control continue to attract part & newly qualified CIMA & ACCA canidtaes in significant volumes." Acording to Robert Walter survey Newly qualified ACA/ACCA/CIMA salary is 35-42 K in Sterling. I can send you the survey if you request & in Michael Page survey salaries for financial accountants listed as ACA/ACCA.
Everywhre in the surveys slary is listed as ACA/ACCA. Its not that ACA salary is listed apart from ACCA's. They both enjoy same salary & value. Check out global financial insiutions ad's around the world they ask for ACA/ACCA.
I dont know in this case who can say that ACCA is losing repute in the UK. Probabaly whoever says this is unable to accept the fact that ACCA's are valued aroud the world more than CA's. (with exception of some arab states).
ACCA's are not working as CFO in Pakistan primarily becaz ACCA has jsut its operations in Pak just a few years ago & there aren't ACCA's with huge experiences to become CFO's but many ACCA's are working at Manager level positions in Pakistan (Atleast this couldn't be denied).
This change will take time. I said that IF ACCA's are allowed to do audit because ACA has introduced Pak law variants (& ofcourse rules have to change before ACCA starts audit, ACCA's cant audit when not allowed)
Its not the thing that ACCA's audit is of a low quality & CA audit os of high quality. When ACCA's with articles from big4 & other firms will come, companies cannot say that they will do low quality audits. If some one says this then he means that an audit experience from KPMG or E&Y or Ferguson or anyother big firm is of low quality. Its illogical.
And if not allowed to do audit, even then ACCA will fill up the market & will create great damage to ICAP in their Commerce & Industry sector jobs. This has to happen.
Change will come gradually & ACCA's are gaining repo gradually. Now almost all of the companies ask for ACCA/ACMA/CA. It doesnt mean that they are equal to CA but this means that awarness about ACCA is increasing. Recently I saw ad of Punjab government in Daily Jang where they asked for ACCA only or part qualified ACCA with experience. The only qualification that was asked was ACCA/part qualified. No other qualification was asked. This means that ACCA is gaining recognition in the market.
Usman Arshad
I didn't meant that ICAP will become faqir i meant that it would not enjoy the same value in Pakistan. their value will be reduced much.
ACCA's are accepted widely in the UK & are considered equivalent to ICAEW. See Michael Page & Robert Walters salary surveys. These are considered as market leaders for financial recruitment in UK & around the world.
Thesew are qoutes from Robert Walter UK Survey
"Financail divisions control continue to attract part & newly qualified CIMA & ACCA canidtaes in significant volumes." Acording to Robert Walter survey Newly qualified ACA/ACCA/CIMA salary is 35-42 K in Sterling. I can send you the survey if you request & in Michael Page survey salaries for financial accountants listed as ACA/ACCA.
Everywhre in the surveys slary is listed as ACA/ACCA. Its not that ACA salary is listed apart from ACCA's. They both enjoy same salary & value. Check out global financial insiutions ad's around the world they ask for ACA/ACCA.
I dont know in this case who can say that ACCA is losing repute in the UK. Probabaly whoever says this is unable to accept the fact that ACCA's are valued aroud the world more than CA's. (with exception of some arab states).
ACCA's are not working as CFO in Pakistan primarily becaz ACCA has jsut its operations in Pak just a few years ago & there aren't ACCA's with huge experiences to become CFO's but many ACCA's are working at Manager level positions in Pakistan (Atleast this couldn't be denied).
This change will take time. I said that IF ACCA's are allowed to do audit because ACA has introduced Pak law variants (& ofcourse rules have to change before ACCA starts audit, ACCA's cant audit when not allowed)
Its not the thing that ACCA's audit is of a low quality & CA audit os of high quality. When ACCA's with articles from big4 & other firms will come, companies cannot say that they will do low quality audits. If some one says this then he means that an audit experience from KPMG or E&Y or Ferguson or anyother big firm is of low quality. Its illogical.
And if not allowed to do audit, even then ACCA will fill up the market & will create great damage to ICAP in their Commerce & Industry sector jobs. This has to happen.
Change will come gradually & ACCA's are gaining repo gradually. Now almost all of the companies ask for ACCA/ACMA/CA. It doesnt mean that they are equal to CA but this means that awarness about ACCA is increasing. Recently I saw ad of Punjab government in Daily Jang where they asked for ACCA only or part qualified ACCA with experience. The only qualification that was asked was ACCA/part qualified. No other qualification was asked. This means that ACCA is gaining recognition in the market.
Usman Arshad