07-13-2010, 05:30 AM
arsenal.gooner
The statement by your legendary teacher is illogical and baseless. The reasons for my saying this are as follows
1. He says (as you say) ICAP is fearing ACCA. Is there any sensible reason for this fear?
He says a lot of students are leaving CA and joining ACCA. Is this Leaving Process happening first time in history of ICAP?
Absolutely not
In the world of CA, several students join CA and then after getting the taste of B and C mods failure they leave. Even before the arrival of ACCA in Pakistan, it was also happening and you know this.
Any discussion should be based on facts. Here are some facts. ICAP annual reports show clear stats that clearly indicate that the numbers of CA students are increasing every year. So CA is not running out of students. There are plenty of students who appear in exams and few of them clear whole module. If ICAP is facing shortage of students, it would have passed all of them to increase its members for the given year. So there is no such shortage and you know this also.
I have been hearing the reason that you give for quite a time. This reason may seem logical but this reason has no major impact on CA job market. CAs are still enjoying their monopoly over many areas.
As far as same set of skills is concerned, yes ACCAs are really skillful. I have no doubt. but some furious CA students may not agree with this even after using ACCA books. So by discussing this you yourself started CA vs ACCA discussion.
But in the practical world the type of skills that matters not the level of skills. For the jobs relating to financial reporting in Pakistan, knowledge of IFRSs is not enough. One should also know other things to be a successful candidate for the job. Other things include local laws, rules, regulations, directives, orders etc. CA know these and thatâs why they have an edge (only) and thatâs why there is no fear within the ranks of CAs.
What is ICAEW doing here?
Nowadays the main focus of ICAP is on getting maximum possible exemptions from ICAEW, CICA and ICAA. For that purpose, there will be some restructuring in ICAP syllabus only in the near future. I personally feel many ICAP members are not in the favor of taking up of ICAEW system.
My dear ACCA friends,
You are pursuing globally accepted qualification. ACCA is in Pakistan not because of ICAP. ICAP has no authority to wipe the ACCAs out of Pakistan. What is going on in ICAP is always reflected in its newsletters, its official magazines, and its annual reports.
And I sure you no foolish thing is happening within ICAP. May be extent of exemptions are going to be further tightened. May be because of numbers of ACCA students and the numbers are huge and you all know this.
If you people want more study even after passing all ACCA papers, you should now go for ICAEW because your system is very much compatible with that of ICAEW and it is now in Pakistan (I have read somewhere). CFA is another option if you want more education.
Yes Pakistan is yours as is ours. Why you go abroad?
In general sense, Unemployment in Pakistan is only because of economic crisis and governments should be blamed for that. Otherwise ACCAs have bright future.
There is still more to discuss and much more things to improve which I will discuss in the future.
The statement by your legendary teacher is illogical and baseless. The reasons for my saying this are as follows
1. He says (as you say) ICAP is fearing ACCA. Is there any sensible reason for this fear?
He says a lot of students are leaving CA and joining ACCA. Is this Leaving Process happening first time in history of ICAP?
Absolutely not
In the world of CA, several students join CA and then after getting the taste of B and C mods failure they leave. Even before the arrival of ACCA in Pakistan, it was also happening and you know this.
Any discussion should be based on facts. Here are some facts. ICAP annual reports show clear stats that clearly indicate that the numbers of CA students are increasing every year. So CA is not running out of students. There are plenty of students who appear in exams and few of them clear whole module. If ICAP is facing shortage of students, it would have passed all of them to increase its members for the given year. So there is no such shortage and you know this also.
I have been hearing the reason that you give for quite a time. This reason may seem logical but this reason has no major impact on CA job market. CAs are still enjoying their monopoly over many areas.
As far as same set of skills is concerned, yes ACCAs are really skillful. I have no doubt. but some furious CA students may not agree with this even after using ACCA books. So by discussing this you yourself started CA vs ACCA discussion.
But in the practical world the type of skills that matters not the level of skills. For the jobs relating to financial reporting in Pakistan, knowledge of IFRSs is not enough. One should also know other things to be a successful candidate for the job. Other things include local laws, rules, regulations, directives, orders etc. CA know these and thatâs why they have an edge (only) and thatâs why there is no fear within the ranks of CAs.
What is ICAEW doing here?
Nowadays the main focus of ICAP is on getting maximum possible exemptions from ICAEW, CICA and ICAA. For that purpose, there will be some restructuring in ICAP syllabus only in the near future. I personally feel many ICAP members are not in the favor of taking up of ICAEW system.
My dear ACCA friends,
You are pursuing globally accepted qualification. ACCA is in Pakistan not because of ICAP. ICAP has no authority to wipe the ACCAs out of Pakistan. What is going on in ICAP is always reflected in its newsletters, its official magazines, and its annual reports.
And I sure you no foolish thing is happening within ICAP. May be extent of exemptions are going to be further tightened. May be because of numbers of ACCA students and the numbers are huge and you all know this.
If you people want more study even after passing all ACCA papers, you should now go for ICAEW because your system is very much compatible with that of ICAEW and it is now in Pakistan (I have read somewhere). CFA is another option if you want more education.
Yes Pakistan is yours as is ours. Why you go abroad?
In general sense, Unemployment in Pakistan is only because of economic crisis and governments should be blamed for that. Otherwise ACCAs have bright future.
There is still more to discuss and much more things to improve which I will discuss in the future.
