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+--- Thread: Kamran Bhai Please Answer (/thread-kamran-bhai-please-answer)
Kamran Bhai Please Answer - kwaheed - 09-28-2010
Dear members
this is the first time that i am posting in this forum though i am a regular visitor here.
i am so confused these days that only i know how am i holding my faith.i always dreamt of becoming a chartered accountant.i interned at aff n also worked in middle tier firm.i qualified acca in dec 2009.
applied for articleshp in big 4 got tested n interviewd thrice but dint made my way there.i have a very profound idea n experience of what is the difference in audit approach of big 4 n others.environment is something on which one can compromise if fair afterwards prospects could be perceived.came across several ppl articld from other than big 4 who still r unemployd majorly due to market conditions but importantly not having "thappa" of big 4,while big4 articld ppl still gets reasonable job.so for a person like me who has slightly bleak chances of getting into big4 has made me to start losing charm of ca and think about cfa.both ca and cfa have strong pros n cons.i have a habbit of thinking so deeply for things from all aspects which has made me indifferent for the two options.
i idealise big4 not only for their brand but for their analytical audit approach whereas other firms have substantive approach lacks audit software etc,as i have earlier mentioned that i have worked for both sort of firms.my mind is pretty analytical so substantive n just copying last year working paper n changing dates n figures is not at all of professional value addition to me nor does this style suits my aptitude.
please guide me what should i do ca or cfa.please guide from different perspectives like foreseeable mkt conditions,quantum of student influx in accountancy,my aptitude,difference of audit approach of big4 n other firms and other factors which u consider necessary for my case.
i do not intend to defame working style of middle tier firms i have only mentioned it for you to make my case clear.
prompt n detailed answers from sir kamranaca n sir schueab is highy expected.all other members please shed your flowers of experience n advise me based on true realities of profession.
- noman - 09-28-2010
Dear,i think you are giving way too much weightage to the firms standing........i have been in a big 4 and met many non-big 4 students also........let me tell you something........
its true big4 students have better chance of jobs.....but believe me...being qualified is much more important.......and working in middle tier firms gives you different sort of experience...which will help you later on.......any experience is good experience..
Articleship is just the beginning of your learning curve in the field.......its not the end....also are you sure that you want to stay in audit field after you qualify also?? because the amount of weightage you give to firm is only justified if you have only one thing in mind (working in audit after qualification....and sole objective being an audit partner).......if your objective is only slightly different than this......then you shouldnt be considering leaving the profession......
my advice.......articleship from big4 not as important as qualification and experience is....
- kwaheed - 09-28-2010
Dear noman ,thanks for taking time out n rplying.
after realising that its difficult to make place in big4 i joined one of the top ten firms for articles n at that moment i tried to satisfy myself with that option n put behind the idealism of big 4.trust me noman there was a great deal of difference between the working style of that firm n the big4 firm where i did internshp from.
big4 uses analytical approach n focuses less on substantive u must have known it since u were part of big4,the firm which i joined was legendary in past but trust me no professionalism was evident there.culture was so poor that i started feeling as if i had made a mistake choosing this profession coz the behaviour of seniors due to trend was so poor that one can hardly imagine.trust me i am not exagerating anyone who is experienced by now might have got idea which firm i am talking about.it was of aff alike repute in past.i dont blame seniors over there but there culture was so,same thing happened to them which they now do it with their juniors without considering whether it was right or wrong absolutley contradicting to islamic values.the list of their tyrany goes on.apart from all of this i decided to bear this but when i saw their audit approach it was 100%substantive n any graduate with a little common sense could do that.i did 3 audits there n trust me i got "0" value addition.
what quality of chartered accountant would i b if i do articles from there even if i qualify.
u can c samething happening in doctors who r all mbbs ,one dr makes u wait a week the other dr whereas prays for patients to visit.
one needs more luck to pass icap exams than hardwork examples prove that nevertheless hardwork is crucial.the quality of big4 students is really very high coz i have worked in both sort of firms majorly due to firms culture n workstyles.
my ultimate objective is not to b a partner but being part of big4 its good if one stays there after articles n waits 4 gud opportunities.
lack of use of audit software,substantive audit approach n manual auditing(only final accounts are prepared in excel)were major factors driving me away from that firm.
hope i have made myself more clear
- noman - 10-02-2010
Please elaborate on your experience of Big4 internship too..
- kwaheed - 10-03-2010
Dear Noman thanks for your post
i have worked almost 3months in one of big four and was part of the team
who conducted external audit of one of their big listed clients.i was assigned the same level of areas which article beginners use to do so it wasnt at all conventional sort of internship.
the other middle tier firm from which i got articles,there again did couple of their listed clients