ACCA exemptions

thecharteredaccountant · 04-01-2004, 01:56 AM

i think the current exemptions ICAP offers are just right. not too much and not too little. the policy makers know what they are doing and they have made the right decision. i hope it stays this way. however reducing exemptions would be totally outrageous.

i highly agree with XBRL! good post!

AIM · 04-13-2004, 09:26 PM

Hello
With less than 4,000 members ICAP should be trying to increase its membership. Keeping such a tight control over the number of students passing may have been acceptable in the old feudal days, where the powerful could oppress the poor by denying them education.

Higher membership would increase the level of accountancy within the country and get rid of the manual accounting done by the owner of his business.

Hence I think that the exemption policy should be liberal. And the exam results / work experince taken into account as well for ACCA members.
Anyway, the ACCA exams are not any easier than ICAP's. Just the approach by the boards are different.

sumaaan · 04-14-2004, 06:26 AM

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Hello
With less than 4,000 members ICAP should be trying to increase its membership. Keeping such a tight control over the number of students passing may have been acceptable in the old feudal days, where the powerful could oppress the poor by denying them education.

Higher membership would increase the level of accountancy within the country and get rid of the manual accounting done by the owner of his business.

Hence I think that the exemption policy should be liberal. And the exam results / work experince taken into account as well for ACCA members.
Anyway, the ACCA exams are not any easier than ICAP's. Just the approach by the boards are different.

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I don't agree with you here... You see a board's aim shouldn't be to maximize number of members, instead it should maintain its significance... Considering ICAP's monopoly in Pakistan, if I were to run ICAP, I'd certainly go with the current ICAP plans... Atleast we have one profession in Pakistan that is highly respected and if you haven't noticed, a Chartered Accountant always stands noticed amongst a gathering of professionals... And why is that so?... Becausing everyone knows that to become an ACA from ICAP, one has to be extraordinarily competent...

Higher number of ICAP members would never help eradicate manual accounting by owners themselves... It doesn't have any sort of relationship with that.

sohaib · 04-15-2004, 11:05 PM

Exemptions if appropriate.

As a CIMA accountant based in the UK, I just want to make the ICAP guys think about their motivations as things have progressed from the arguments you are having now over here.

In reality, the market will dictate how things pan out. Over here (UK), there are firms which have both ICAEW and ACCA partners of the same firm.In fact even CIMA accountants are partners too. The result is a win win situation for all. Further, with regards to exams, all of the respective bodies I believe can sit the finals of the other body.It is a mutual agrement.

I cannot but help feeling that it is the "insecurity" of another qualification challenging the local market qualification that is dictating the argument.

That said, the ACCA boys should not expect to be able to acquire a qualification purely through exemption and therefore any further exemptions need to be justified. I say no more exemptions.

ICAP have to stand up and be counted. Make your qualification more relevant and applicable to the modern world, or be prepared to step aside for the more progressive Institutes. Just because you think you have a superior qualification, does not make it superior.

thecharteredaccountant · 04-17-2004, 12:29 AM

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Exemptions if appropriate.

As a CIMA accountant based in the UK, I just want to make the ICAP guys think about their motivations as things have progressed from the arguments you are having now over here.

In reality, the market will dictate how things pan out. Over here (UK), there are firms which have both ICAEW and ACCA partners of the same firm.In fact even CIMA accountants are partners too. The result is a win win situation for all. Further, with regards to exams, all of the respective bodies I believe can sit the finals of the other body.It is a mutual agrement.

I cannot but help feeling that it is the "insecurity" of another qualification challenging the local market qualification that is dictating the argument.

That said, the ACCA boys should not expect to be able to acquire a qualification purely through exemption and therefore any further exemptions need to be justified. I say no more exemptions.

ICAP have to stand up and be counted. Make your qualification more relevant and applicable to the modern world, or be prepared to step aside for the more progressive Institutes. Just because you think you have a superior qualification, does not make it superior.

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sohaib,
good to hear that there's no pride and prejudice prevailing among the firms in UK and both ACCAs and ACAs are partners in firms.
i think the current exemptions from ICAP to ACCA are just about right. no need to increase or decrease.

AIM · 04-21-2004, 11:47 PM

Hi

The ratio of CA's to total population is the lowest in Pakistan.
Its even lower than India, Bangladesh and Sri Lanka.

What could be the reason for this? Are Pakistanis not that qualified?
Or is it just the policy of ICAP..to restrict the numbers to such an extent. So that its members can get 'respect and huge salaries'.

jbladeus · 04-22-2004, 05:41 PM

In response to AIM

Well they are getting respect and huge salaries, arent they? The reason behind this is exactly that u have mentioned in your post. Being few and precious in numbers. Ever wonder why diamonds are so precious and salt isnt?

If one is a CA today in Pakistan, he gets the utmost respect, unlike doctors, MBA, engineers etc in whose cases the market is totally saturated. Lol, CA bachelors are the most sought after bachelors in our society and can immediately get a rishtas without any hiccups. <img src=icon_smile.gif border=0 align=middle>

________________________
Arrrgh... it sure's gonna be mighty rough sailin' today ... mates!

Bowman · 04-22-2004, 06:53 PM

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The ratio of CA's to total population is the lowest in Pakistan.
Its even lower than India, Bangladesh and Sri Lanka.

What could be the reason for this? Are Pakistanis not that qualified?
Or is it just the policy of ICAP..to restrict the numbers to such an extent. So that its members can get 'respect and huge salaries'.

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True...... but also compare the salary drawn by a Pakistani CA to what earned by Indian/Bangladeshi or SriLankan CA.

People go for CA profession primarily because of money. If it becomes like doctor or engineers, no one will be interested to get in. See the number of entrants registering for CA since the mid 90s (the time when MBA, Medicine and Engg become saturated fields). In the end its all about money. As Jerry Maguire put it excellently "Show me the Money"

On a personal note, I think that ICAP has passed more than enough CA in past few attempts. Due to this surplus, salary of a freshly qualified has already decreased to 20-25k from around 35k. They should put a tight lid now (do some people on the forum like to kill me?<img src=icon_smile_dead.gif border=0 align=middle>)

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CA bachelors are the most sought after bachelors in our society and can immediately get a rishtas without any hiccups.

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Is that your personal experience Guybrush <img src=icon_smile_wink.gif border=0 align=middle>

AIM · 04-22-2004, 07:13 PM

Agreed that its in ICAP's personal interest to keep the membership as low as possible...or even reduce it.
But in the national interest, the membership should be increased.
This may reduce the average salary....and just having ACA after your name might not guarantee you a job. But for the CA's with right experience / personality, that wont be a problem..

And CA's being the most sought after...is just an illusion (from personal experience). Good CA's (i.e. already settled in good jobs) together with good, qualified professionals from other fields are equally sought after.

AIM · 05-03-2004, 10:21 PM

Hi

Any idea what was the earlier exemption policy for ACCA? i.e. did they get more exemptions? And when did this new policy come into effect?

sumaaan · 05-05-2004, 10:46 PM

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Hi

Any idea what was the earlier exemption policy for ACCA? i.e. did they get more exemptions? And when did this new policy come into effect?

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ACCA qualifieds had to give only three or four ICAP exams to become an ACA... From what I've heard, that was basically because some of the sons of 'icap babas' were also doing ACCA.

jbladeus · 05-06-2004, 06:51 PM

Well i havent reached the 'looking-for-rishta' stage, but yeah i guess you can say that i am already quite sought after among the parent community! <img src=icon_smile_big.gif border=0 align=middle>

Allah ka shukr hai.

________________________
Arrrgh... it sure's gonna be mighty rough sailin' today ... mates!

munshi · 05-08-2004, 03:05 AM

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<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>
Hi

Any idea what was the earlier exemption policy for ACCA? i.e. did they get more exemptions? And when did this new policy come into effect?

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I have heared that too....

ACCA qualifieds had to give only three or four ICAP exams to become an ACA... From what I've heard, that was basically because some of the sons of 'icap babas' were also doing ACCA.

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mahtabmuhammad · 12-12-2015, 01:27 PM

The ACCA qualified students if they do not complete their Articleship for ACCA from any Pakistani Chartered Accountant Company they are unaware about Pakistani Local Laws for instance Income Tax,Sales Tax,Labor,Company Laws etc.no doubt they are also well versed like ICAPs students in Accounting,Auditing etc.but lack of these subjects or Laws make a difference also in the subjects of Accounting & Auditing specially in presentation etc.