09-15-2006, 06:38 AM
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by derivativetrader</i>
<br />[quote]<i>Originally posted by Pracs</i>
<br />The way it works is that charge rates for trainee accountants are not comparable to those of qualified accountants (who earn salaries instead of stipend). Not going into the ethics of the 'stipend' method it is reflective to the charge out rates. That is primarily the reason why it is possible to use large audit teams in Countries like Pakistan, Sri Lanka, India and South Africa and still maintain low charge out rates as compared to the UK, US or even the Gulf countries.<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Well, yeah the cut off point is completion of articles (training contract), if you pass all your exams you still get the upper limit of the stipend. What is quite interesting is that ICAP prescribed stipend rates are just the 'minimum' requirement. There has been only one firm in Pakistan which actually paid more than the prescribed rate,. it was ofcourse a Big5,.. In 2000 it got merged in another Big4/5 firm...
So, when does an accounting professional in countries such as Pakistan start to get a salary?
<br />[quote]<i>Originally posted by Pracs</i>
<br />The way it works is that charge rates for trainee accountants are not comparable to those of qualified accountants (who earn salaries instead of stipend). Not going into the ethics of the 'stipend' method it is reflective to the charge out rates. That is primarily the reason why it is possible to use large audit teams in Countries like Pakistan, Sri Lanka, India and South Africa and still maintain low charge out rates as compared to the UK, US or even the Gulf countries.<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Well, yeah the cut off point is completion of articles (training contract), if you pass all your exams you still get the upper limit of the stipend. What is quite interesting is that ICAP prescribed stipend rates are just the 'minimum' requirement. There has been only one firm in Pakistan which actually paid more than the prescribed rate,. it was ofcourse a Big5,.. In 2000 it got merged in another Big4/5 firm...
So, when does an accounting professional in countries such as Pakistan start to get a salary?
