01-04-2009, 09:16 PM
Dear Faizee and Dreamsunlimited
There is a basic point to understand that the auditors, public practice license holders etc have to be locally chartered. This happens every where in the world. However, there are certain countries which don't have such qualified people locally or arrangements to produce such people locally, therefore, they are bound to welcome whoever comes there. Further, in so many other locations certain international bodies are recognised.
ACCA might be a good qualification at UK/Ireland or even at certain other locations. There is no point to fight or argue on it. However, wherever any local body is established on strong footings this ACCA could not capture the market regardless of whether or not they carry such licenses or permissions to compete.
One has to see both sides to make the conclusions. You are right a few ACCA firms (or may be none) would be famous enough to compete all the big names the CA institutes have so far produced at UK or eslewhere. There may be certain partners in recognised firms having other than CA qualification including ACCA or CPA and they may be doing very well because doing well depends upon so many factors. Still, the point raised is valid that the profession has always been in the hands of CAs if we talk about the quality of the clientle portfolio.
ACCA firms may be earning quite handsome as well. The practicing ACCAs can tell if they have beauty saloons and shops in their portfolio. I cannot comment on it with certainity.
Regards,
KAMRAN.