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+--- Thread: ACCA to be ousted from Pakistan within 1.5 - 2 yrs (/thread-acca-to-be-ousted-from-pakistan-within-1-5-2-yrs)
ACCA to be ousted from Pakistan within 1.5 - 2 yrs - arsenal.gooner - 07-11-2010
hi guyz,
got some news.
According to Sir Sajid Kapadia (the famous ACCA f8 teacher), ACCA will being ousted from Pakistan within the next 1.5-2 years. He said that this is due to ICAP fearing ACCA. So no more ACCA in Pakistan after this time. he says that alot of students are leaving CA and joining ACCA (for whatever reason)
another reason i can think of is that in this time of recession, where a CA demands, say 60k, an ACCA with the same set of skills would be prepared to do the job for half of this. maybe this is a reason.
Now i have nothing to confirm this report but when someone like Sajid Kapadia says something, it definitely forces you to think.
does ICAP's addoption of ICAEW syllabus has something to do with it.. MAybe!!
this is not an ACCA vs CA debate and is just a healthy discussion on the validity of these claims by someone who has been in the industry for long enough to know what is going on behind the scenes.
- Dard - 07-11-2010
I don't see any reason for ICAP to fear ACCA. In Pakistan ICAP is the regularity body
- arsenal.gooner - 07-11-2010
well the fear is not of the market maybe, it is about the loss of students. like for instance, if someone fails in 2-3 attempts of CA, they have the option of ACCA, but if ACCA is no longer in pakistan, then students will have to continue with CA.. this is what sajid kapadia says.
- FutureCA - 07-11-2010
Hahahah!!
ICAP fearing ACCA..!
lol..icap gives a chance to acca's to be part of their firms!!
icap has its own value around Pakistan!! (as we all know)
and yes a rule is coming up in the new icap policy which will state that no acca's will be allowed to be exempted till module D after completing ACCA...
Acca is not worth that module D shud be exempted..so acca's will now have to study module D in order to continue...!
- FutureCA - 07-11-2010
and by the way!! icap is taking this decision for the benefit of the students..!
Acca's are not capable of getting jobs with their qualification! and icap always help them to find jobs but this is it!!
and if u need a good job having acca qualification..u must go abroad..!
there is no big future of acca in the market..! (in Pakistan atleast)
DONT GET DISHEARTED FRIENDS!!
- Dard - 07-11-2010
A purely BIASED statement. You guys find ways to discriminat ACCA. I guess you are a newbee here futureCA. You should surf the topics here thoroughly, and don't comeup with one sided views. Don't feel offended
- arsenal.gooner - 07-11-2010
@ futureCA
1. it is a complete farce that there are alot of opportunities for ACCA abroad. they already have their local ACCAs so why would they want to hire someone from another country.
2. why should i go abroad. this is my country as much it is yours and we are not talking about the opportunities that are available to the members of different qualifications.
Please dont divert from the topic and the purpose of the discussion. Agar aapne post theek tarah parha ho (im sorry its in English but you can atleast try), i have clearly written that this is not a CA v ACCA debate.
Rgds
- FutureCA - 07-12-2010
yeah gooner i can manage to understand english..! P
look buddies...i concluded what i felt is true!! and ofcourse Pakistan is our own country...but many people go abroad to seek better jobs for them for living...but they still remain Pakistanis!!
i am not forcing anyone to go abroad...but i feel that scope of ACCA within 5 years will not be much impressive..
its my guess only..!
*PEACE*
- Dard - 07-12-2010
It's true that ACCA doesn't have much scope in Pakistan. But saying that ACCAs don't have the CAPABILITIES is a false statement
- VITAL - 07-13-2010
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.
- masroorahmed - 07-14-2010
@vital
asslam o alikum
vital very good work u did....
well u mentioned in ur comment tht IF U WANT MORE EDUCATION U SHUD GO FR ICAEW OR CFA ...
nw as i m on the verge to qualify ACCA wher shud i go fr? ... i mean i dont wana go abraod nd THTS Y nw i m intending to go fr CA... but ur comment force me to thnk WUD IT BE WORTH TO ME TO GO FR CA AFTER ACCA...? I MEAN DONT U FAVOR ACCA STUDENT TO GO FR CA ?
- FutureCA - 07-14-2010
masroor!
more than 80% students study ACCA as a SHORTCUT for CA....!
and their main motive is to do CA after completing ACCA
- raza 123 - 07-14-2010
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by FutureCA</i>
<br />masroor!
more than 80% students study ACCA as a SHORTCUT for CA....!
and their main motive is to do CA after completing ACCA
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Agreed.
- VITAL - 07-14-2010
I do favor ACCA students to go for CA but ACCA students are not happy with ICAP. First, they feel that they should have more exemptions.
Second the students who applied for the exemptions are not satisfied with the efficiency of ICAP regarding the processing of different forms and because of long delays to get exemption letters and training contracts.
Yes ICAP needs improvement in this area
Third they are not pleased with the attitude of CA firms. They feel that CA firms favor CA students not ACCA students to give training contract.
If you do not want to go abroad and like to work in Pakistan, CA (ICAP) is the best option but remember ICAP and its CA firms have their own system and they will give you tough experience.
If you like to work in Pakistan CFA is also a good option. They earn more than CA as I know. But it is very much different field.
There are other options like Diploma in IFRS if you like to become IFRS expert.
- ciapk - 07-14-2010
Groundless propaganda about ICAP and ACCA as well. I dont conceive such an ****eyed gossips a qualified professional ( teacher ) could say to his students it may be a rumour from someone else.