A newly qualified ACA looking to work in Pakistan

[safy007]

Hi guys

I am new to this site but i have found this very useful in getting any kind of professional advice.

I am newly qualified ACA (ICAEW) and currently working with Smith & Williamson, top 10 firm in london. I have strong desire to come back to Pakistan and progress my career within home country.

Please advice what shall i do now? When shall i make an exist? Which sector is best for qualified accountants? Do i need any additional qualification such as MBA or CFA?

I think banking is quite good sector in Pakistan but where will i fit in banks?

I will appreciate your help.

Thanks

[khani]

Here in pakistan you will be given equal or rather better status to CA of ICAP when you go for a job in any sector except for audit.You should have another degree as well like cfa.
My name is khani,I am an ACCA affiliate member, I want to go for ICAEW ACA. Help us and advise us on this .

[BeL@L]

read your other topic, i post there...thanks

[safy007]

Hi

Why i need CFA? I think its good idea to top up your ACCA with ACA. I did the same. I did ACCA and got 6 exemption in ACA and took 4 exams. Only problem is to get ICAEW training contract.

Just try your luck mate. Hopefully you will get it.

[khani]

Yes, I know that ICAEW will be here in PAKISTAN in 2008.Then we will be having a good opportunity to get articles with ICAEW in PAKISTAn,
Sir I think that If one has completed ICAEW`s ACA ,He has a good MOQA k Wo UK mein RAH KAR KAMA SAKE( I hope u can understand URDU)IF u dont mind may I ask aquestion from you .Why after doing such hard work,you r coming to pakistan.U should work now in uk and earn there.
As for as CFA is concerned,here in pakistan every body is willing to get it(every professional)
1)It is new
)It is demanded by investment houses

3)It is well in demand in the banking sector.
Pray for me that I can also do what you have achieved in you professional life.
Also pray for all like me who want to shape their careers.

[safy007]

I want to come back due to some familiy issues and also i beleive that i can earn descent money in pakistan. The problem with UK is more you stay here more difficult it is for yoy to go back to your home country.

I want to start my career in Pk as soon as possible.

For you, all the best.

[safy007]

As an ICAEW qualified i can become ICAP member without taking any exams but if i want to do my own practice then i have to take two exams (Law and Tax).

[khani]

You know the way.
Than what is the issue.
Come to pakistan,keep in mind pakistani law and order situation is getting worst,have u seen the welcome blast given to BENAZIR BHUTTO.
Claiming 155 lives and 600 got wounded.

[kamranACA]

Dear Safy,

It has been nice to see you aboard on this forum discussions. I hope we will see professional contributions from you as well in the upcoming days.

As far as job for an ACA from ICAEW is concerned, it is not a difficult task at all. Every multinational will welcome you provided they have some vacancy. You should take ICAP's membership and need not to qualify its two papers, if you dont wish to be in practice. However, if you have such plan or any such plan carries some possibilities, you can qualify those two papers in earlier days. Becoz as much earlier u will do it, that much easier it will be for you.

You need not to do CFA for the purpose of having a job in Pakistan. However, if you are interested in CFA or you foresee to change or divert your experience in future, it will be a good diversification.

In my view, you should try to join some big CA firm in Pakistan at the outset. Then you can see whether or not your interest suits the profession in Pakistan? If you would not feel it as per ur choice, you can use your contacts to get some good job in industry etc. From contacts, I mean contacts which you will develope while serving the CA firm. For this purpose, ideally you should remain in profession for at least three years. This will impact your whole professional life in Pakistan becoz all good jobs in Pakistan are indirectly controlled by such big firms, as the clients normally ask such firms for professionals whenever required or such firm advise their clients on recruitment matters.

If you dont feel the above arrangement desirable, you can directly send you CV to all multinationals, banks / state bank of Pakistan, SECP, CBR and other prominant industries, as per your own choice.

Hope you will find it workable.

Regards,


Kamran.

[khani]

Welcome Mr KAMRAN on this topic.I think you were on EID holidays.Here we have a good pakistani contributor for this forum too.
Welcome to the poster of this topic .
Sir Mr KAMRAN ,I ask you whether HE will be eligible to become as audit partner before passing the two papers of I.CAP. Or one has to passs audit and tax papers first.

[khani]

Kamran sahib from your reply it seems that you tahink that in future ICAp is going to reduce its exemptions for ICAEW members.
In my view ICAP is not going to do it even in far future because ICAEW will also withdraw its exemptions for ICAP members and It is ICAP who wants ICAEW and not ICAEW wanting ICAP>

[kamranACA]

Dear Khani,

I could not understand how you concluded that I can think ICAP will reduce exemptions for ICAEW.

What appears to my apprehension is that you picked this point when I advised Safy to clear ICAP's two papers as early as possible, if he desires to be in practice.

While saying this, the intention behind was not a danger of any reduction in available exemptions. Rather, in my view, age has great impact on getting further qualifications. One should preferably do whatever he/she wants to do in as much earlier days, as much he/she can. Thats it. Yes, there are a number of men who have done so much in later days and are even keeping on doing so. Example is of Doctor Khawaja Amjad Saeed.

Anyways. It was not based upon any uncertainity regarding exemptions from ICAP. Rather, in my sole opinion, bi-lateral exemptions among various institutes will increase as the time will progress.

In my view, now UK qualified CA has to pass required papers of ICAP for becoming partner (any sort of partner) in local CA firms at Pakistan. In earlier days this requirement did not exist. You can see some aged fellows who never qualified such papers and are partners of so many firms. But now this condition has been imposed.

Regards,

Kamran.

[safy007]

Hi Kamran

Thanks a lot for your advice. I really appreciate your help and i have found it very useful. I will apply ICAP membership very soon. I havenot decided in respect of partnership in a CA firm, i will definatley consider taking two exams once i establish what i want to do.

I think currently banking is quite growing and well paid sector in Pakistan. I may work in bank before my exit from Uk. It's a quite tough decision , i don't want to leave my profession as i spent so mamy years to become a chartered accountant. Banking is quite different field, i feel i may start from scratch.

[kamranACA]

Dear Safy,

If you choose banking for joining its accounts department, then your decision will not bring the desired results and satisfaction for you. Moreover, if the choice in banking sector is banking itself like foreign currency dealing, risk management, credit management, micro credit, banking policies, monitoring, transaction advisory etc, then it is good but will not strictly match your profession.

I however, dont much stress to remain on same profession for the life time, if you have oppurtuniies you should explore them.

You are right, banking scetor is showing enormous growth now-a-days. Big acquisitions and mergers have almost made this sector a product or a commodity which has greatest attraction all the times. You can expect to hear anything in banking sector whether or not you percieve it.

Regards,


Kamran.

[imrank]

Hello,

This is my second post ever on this forum. I have followed various topics and I must say that it is very informative and very helpful. I must also add that Kamran makes it very professional and we should all thank him for his efforts.

I am exactly in the same boat as Safy. I am anewly qualified CA from Australia and would be coming back to Pakistan in the next 12 months. I also think that Pakistan has got a huge potential in terms of attracting newly qualified professionals as it is a growing economy. I can see myself up there Inshallah if I work hard. I cannot see myself growing here in Australia as much as Paksitan.

Now I thorow my question. I have recently decided to do a SAP course here. Although being very expensive, I can see some potential use in Pakistan. I will hopefully be a SAP Consultant in Financial Accounting once I pass the exam. Do you think it is a good move? I have 12 months here to sort my self out and to do as many courses as possible here so that it would benefir me in long term in Pakistan.

Any advice to myself and ofcourse Safy would be appreciated.

Thanks a lot.

Imran