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WHERE ARE CA'S FROM ICAP ARE RRECONGNISED
04-07-2007, 08:24 PM,
#1
WHERE ARE CA'S FROM ICAP ARE RRECONGNISED
I WOULD LIKE TO KNOW definitly . ARE THE GIVEN PREFERENCE OVER ICAEW ICAS ICAI etc etc or THE HOLDER OF CA FROM THESE BODIES ARE GIVEN PREFERENCE OVER US.
AND OVER ALL WHICH IS THE BEST INSTITUTION FOR BEING A CA AND WELL REGONGNISED IN MIDDLE EAST OR PAKISTAN .

REGARDS
ALI
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04-07-2007, 08:27 PM,
#2
 
I WOULD LIKE TO KNOW WHERE ARE OUR CA'S definitly FROM ICAP ARE RRECONGNISED. ARE THE GIVEN PREFERENCE OVER ICAEW ICAS ICAI etc etc or THE HOLDER OF CA FROM THESE BODIES ARE GIVEN PREFERENCE OVER US.
AND OVER ALL WHICH IS THE BEST INSTITUTION FOR BEING A CA AND WELL REGONGNISED IN MIDDLE EAST OR PAKISTAN .

REGARDS
ALI


SORRY ACTUALLY THE POST IS LIKE THIS . SORRY
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04-07-2007, 08:46 PM,
#3
 
Dear,

Every country's education is mainly supposed to be recognized for its own set-up. So many of qualifications from UK are supposed to be best in the world. The major reasons are two. Firstly, they have governed the major portion of the world for a long period and every one is inspired of them. Secondly, so many area are still un-explored in the developing countries like Pakistan and research works are supposed to be carried out by advanced nations.

You can take the example of pakistani FSPS doctor with UK's FRCS doctor. One brother of mine is double FRCS from UK. (Edenberg and glasgow). But you know, he did fail in FCPS exam for two times before going to UK. I believe criteria of FCPS might be more strict than FRCS. But here still FRCS Surgeons are considered foreign qualified and are given more preference. At the same time I dont argue against the fact that FRCS might be knowing better than FCPS due to technical advancement and better oppurtunities at UK.

Like-wise CAs from UK (ENG and WALES) are preferred all over the world. They have a best recognition. In pakistan, they are not allowed to engage in practice but in jobs they are equal to Pakistani CAs. However, they are given to be understood as more priviliged than a pakistani CA (from ICAP).

Pakistani CA (ICAPians) are world-over considered to be hard working guys but in gulf and UK they are less priviliged against UK CAs. In Gulf CPAs from USA and CAs from Eng. and wales are on top. Now other foreign qualifications like CIMA, ACCA, CISA etc are also doing well in gulf.

Hope u will find this reply helpful for u.

Regards,

Kamran.
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04-09-2007, 04:20 AM,
#4
 
Thanks dear kamran. That was really helpful. Can u(other people are most welcome to comment ) please guide me regarding my career. In have completed my first part of I.Com and preparing for the second part.Next what shall i do. Shall i go for Bsc(hons) accounting and finance from lums or acca or directly CA .

Following are the routes im interested.

Bsc(hons)AccFin > Mba > Cpa
or

Acca > mba > Cpa
or

ca(icap) > cfa

one more thing i have to ask that can i in for Mba after Ca . Is it possible .

Friends
Please comment as much as possible. I'll be waiting

Thanks

ali.
Reply
04-09-2007, 06:26 PM,
#5
 
Dear,

You should join CA after I.Com. After having done CA, in my view you need not to go for MBA.

Yes after CA, CFA would be a good choice.

For MBA, you will need a graduation degree. I dont know much about it. However, you can do B.Com while doing CA Intermediate.

Regards,

Kamran.
Reply
04-09-2007, 10:42 PM,
#6
 
Dear KamranCA you are really helping me alot. Thanks.
Now is it better to do ca from icap .Shall i go for exemptions from PPT and A1 A2 and A3 in foundation stage as i can get according to my grades in i.com.And atlast how to do b.Com with ca inter. Did you mean doing B.com private.And shall i in for Skans for my CA.

Again thanks a lot KamranCA.

Regards
Ali.
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04-09-2007, 11:09 PM,
#7
 
Dear,

Off course you can join SKANS or PAC for your CA.

Doing CA is best from ICAP if you plan to settle down in Pakistan or UAE. Pakistani CAs also find so many jobs in other countries as well. But off course competition is much more in the contries who have their own professional institutes/bodies like ICAP.

You must take exemptions that might be available in your case. It's your right.

Yes I mean doing B.Com while joining some night classes or otherwise. B.Com cannot be done privately since it is also a professional qualification in contrast to BA. Boys do it by taking admission in some private college and fullfiling the attendance requirements. It would be easier for you therefore I did not recommend simple BA.

You are always welcome.

Regards,

Kamran.
Reply
04-10-2007, 12:53 AM,
#8
 
KamranCA,
well from your id it looks like you are a qualified CA. Please can you tell me the duration of ca from icap after i.Com i mean how many years in an average. The information on the website (of icap) is not satisfactory.I currently reside in saudi arabia and hope to work here after my qualifications .So it'll be my pleasure if you inform me more.
Regards
Ali
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04-10-2007, 07:29 AM,
#9
 
Really i'm waiting anxiously. Do reply me please.
Reply
04-10-2007, 09:20 PM,
#10
 
Dear Ali,

There are total 6 modules (A to F) for a candidate who joins CA after I.Com and after qualifying/getting exemption from PPT. The first two modules constitute C.A. Foundation (Module A and B) and after qualifying next two (Module C and D) one completes C.A. Intermediate. This all could be done in some accounting academy/institute duly approved by ICAP for this purpose. You can find the list of such institutes/tutors from ICAP's website.

One module, if qualified in first attempt, takes six month for study and one and a half month for waiting the result. Soon after sitting in one module's exam you can start studying for the next that will again take six months. From modules A to D, each year two exams are conducted by ICAP; one in April and other in October.

This way, if passed each module in first attempt, you will complete C.A. Intermediate in two years time.

Now practically saying, some students take more attempts to qualify any exam. However, now ICAP has allowed to appear for two modules of CA Intermediate simultaneously. Permanent credits have also been introduced which has further made it easy to manage the time by a student. If in any module there are three papers and you get two permanent credits and are failed (referred) in one paper, you can attempt the next module also appearing for the referred paper simultaneously. Date sheets are designed to allow this flexibility. Normally A and B modules are examined in morning and evening seprately, so that a studnet appearing in B module in evening can also appear in the referred paper of A module in morning. Same is the case with C and D modules.

Keeping in view the normal passing rate, if a good student does not pass through in first attempts due to any circumstances, he can normally get through maximum in 2.50 or 3 years time. You can budget 3 years as a time period to get through from CA Inter modules. However, You might be able to get through in first attempts. In that case you will take 2 years and two or three months in total.

After doing CA inter, you will have to join some CA firm working under the charter of ICAP for CA ARTICLESHIP. This is done by entering into a contract with the firm's partner (the principal) and getting it registered with ICAP. This all is done by firms normally, you have to deposit fee and arrange documents only. Your training period after CA Inter would be three and a half year in total which includes two months' probationary period. Normally seats are not readily available with the firms for registering a candidate as ARTICLESHIP STUDNET with ICAP. Therefore, typically it takes six months to eight months time to get a seat in a good firm. This will then make the overall period of training almost equal to 4 plus years. However, some times lucky students get the seat soon after joining and accordingly they undergo trainning for exact 3 and half years. Seats are fixed for partners of a firm and qualified managers working with the partners by ICAP. The limit of seats range from 10 to 20 per partner/qualified manager in a firm depending upon varying level of experience and designation. Therefore, the availability of seats is a real problem in good firms. It does not depict the bad intentions of the management.

After exact 18 months of starting articleship (registering the contract with ICAP) one is allowed to appear for MODULE E exam. It means that last 24 months should be remaining of one's article for making his/her elgibility for module E exam.

Module F could be attempted when last 12 months of one's articleship are remaining.

ICAP takes exams of module E and F twicely in a year; once in June and secondly in December. But unlike CA Inter, one cannot attempt both modules simultaneously. However, if one gets referral only in one paper of module E and gets permanent credit in all other papers, he/she can attempt that one paper along with Module F. However, if more than one paper of Module E are referred, then one cannot take exam of module F unless he/she clears the referred papers totally or leaving only one referral paper in balance.

Without joining a CA firm and without completing required trainning/article's period one cannot appear for module E exam.

On qualifying module E, one is called CA Finalist and on qualifying module F he/she is called QUALIFIED CHARTERED ACCOUNTANT or CHARTERED ACCOUNTANT.

On qualifying module F and after completing any remaining articleship tenure, one has to apply for the membership of ICAP. Then ICAP will issue ACA designatory letters i.e. ASSOCIATE MEMBERSHIP to the chartered accountant.

If some one is working in industry or as a manager (otherwise than as partner) in a CA firm he will become FCA i.e. fellow member of ICAP after 10 years of getting ACA status.

If some one is working as partner in a CA firm i.e. has started his practice, he will get FCA status after only 5 years of becoming ACA.

After that, he will remain FCA.

Hope you have received a detailed reply to your question.

Regards,

Kamran.
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04-11-2007, 08:15 AM,
#11
 
THANKS KAMRAN THAT WAS REALLY HELPFUL .AND PRAY FOR ME AS MY FINAL I.COM exams are going to be held on 12th of may.
TAHNKS AGAIN.
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04-17-2007, 04:52 AM,
#12
 
ICAPs CAs are only recognised in Pakistan and some where in 3rd world countries and UAE
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04-17-2007, 05:26 AM,
#13
 
Professional Exemption Scheme

All candidates seeking exemptions are required to apply on the prescribed Exemption Form along with the fee and supporting documents/ certificates as mentioned on the Form to the Directorate of Examinations before the prescribed date of submission of Examination forms.

No exemptions shall be given from any ICAP examination or paper(s) thereof to any individual, Professional Accountancy Institution or body or University unless such request (a) is received from the Certificate awarding body; (b) the said body is making the request on a reciprocal basis; and © the request is subjected to a detailed evaluation procedure to be laid down by ICAP and made transparent.

As per conditions mentioned in para above, the under-mentioned specific exemptions as approved by the Council of ICAP are presently available


a. The examination and the training prescribed by the following Chartered Accountancy institutes will be treated as equivalent to the examinations and training prescribed under the Chartered Accountants Bye-Laws 1983 for the purpose of membership of ICAP

i. The Institute of Chartered Accountants in England & Wales (ICAEW);
ii. The Institute of Chartered Accountants in Ireland (ICA Ireland);
iii. The Institute of Chartered Accountants in Scotland (ICAS);
iv. The Institute of Chartered Accountants in Australia (ICAA); and
v. The Canadian Institute of Chartered Accountants (CICA).

Provided that if such members desire to start practice as Chartered Accountants they will have to pass the papers of Advanced Taxation and Corporate Laws of the Final stage Examinations of ICAP.

b. Candidates who have successfully completed all examinations of following accountancy bodies will be exempt from the PPT, Foundation and Intermediate examinations (Modules A to D) of ICAP.

i. Association of Chartered Certified Accountants (ACCA);
ii. Chartered Institute of Management Accountants (CIMA); and
iii. Institute of Cost and Management Accountants of Pakistan (ICMAP).

Such candidates shall apply for exemption from PPT, Foundation and Intermediate examinations of ICAP and join CA Firm / Training Organisation for a training period of three years.
Moreover, these candidates shall be eligible to appear for Module E examination eighteen months after entering the training arrangements and shall be eligible for Module F examination during the last year of training.

ICMAP 3 parts (pre Jan 1995 Syllabus) or ICMAP Intermediate / Part II (pre December 1998 Syllabus) or Professional I (Post Dec 1998 Syllabus) Passed students are exempted from PPT.


c. Candidates who have successfully completed all examinations of American Institute of Certified Public Accountants (AICPA) will be dealt with on case to case basis. Such candidates are advised to complete the prescribed Exemption form and submit it along with copies of certificates, copies of syllabus certified by AICPA and other details for evaluation. After obtaining exemptions such candidates are required to undergo three years training with the Principal at CA Firm/ Training Organisation.

d. Candidates who have successfully completed all examinations of Pakistan Institute of Public Finance Accountants (PIPFA) under the Private Sector Scheme and Syllabi will be exempted from the under mentioned entrance test and examinations of ICAP

Pre-entry Proficiency Test (PPT)
Foundation Examinations All Papers of Module A and B
Eligibility for Examinations and Training Period for PIPFA qualified who obtain Exemptions from Foundation stage



i. Will attempt and pass Module C soon after the registration as PFC candidates subject to compliance with the dates of submission of examination forms. Upon passing Intermediate stage examinations, such candidates will undergo a continuous training period of four years in CA firms / Training Organisation;
ii. PIPFA qualified will be required to undergo Presentation Skills Training Course (PSTC) of 100 hours duration from RAETs and submit Certificate of Completion as an eligibility requirement to take Module D Examination;
iii. PIPFA qualified (who are graduates with minimum 2nd Division or equivalent grade) may join training at CA Firms / Training Organizations upon obtaining exemptions from PPT and Modules A and B of Foundation stage. Such candidates will undergo a training period of five years and will attempt further Modular Examinations after completing the prescribed eligibility period for Trainee Students. (in case the candidates hold 4 years Graduation degree or 3 years foreign graduation degree, the required training period of such candidate would be 4 years)
iv. PIPFA candidates will take Final Examinations for Modules E and F during and after their training as per rules.
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02-01-2011, 04:17 AM,
#14
 

Hi there, I just want to know that I am a CA Finalist (one paper left of Module F) of ICAP. I intend to do CPA.

Please can you tell me that how to go about it and do i need to take the papers at US? coz I have also heard that from 2011, AICPA would be briniging CPA in UAE, Kuwait etc.

I will be looking forward for your reply in this regard

Please do me a favour by replying at my personal email ID as well

umairsiddiki@gmail.com

Thanks

I will be looking forward for your help and reply in this regard

Kind Regards
Muhammad Umair Siddiqui
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