icap has reduced the exemption of acca to c module

[kamranACA]

Dear Accounting Unlimited,



You have rightly said that there are numerous firms in practice at Pakistan and only few (may be 20 or 30 as I don’t focus only on big 4) would have quality work.

Still, you have to analyze that what is the status of each firm which is not falling in the definition of a good firm. If you will analyze in detail, such firms have very few students registered with them and even some small practices have no student at all. Now in turn you will also be required to analyze that, as per given passing rate of ICAP, how many students of these small firms (which have few number of registered students) qualify each year and how many of them have so far qualified.

The latest ICAP members' directory shows that at the moment total qualified members of ICAP within Pakistan are 3,222 whilst outside Pakistan ICAP members are 888 thus giving a total of 4110.

I have no doubt in saying that very lower percentage of this number is expected to have qualified from those small firms which you are pointing out. Majority of them remains in Intermediate level or even below this level. Just come down to check what is really going on. Now, if some one is so hard working and challenge accepting that even working in such small firms he qualifies the ICAP exams and become a member then you must appreciate he would have something extra ordinary in his personality. He must has something to compete the others.

I have personally witnessed such examples. I don’t just want to quote any one's name but I have seen few such ICAP members who were from small firms but when question of competence came I saw them having a big upper hand over the students of top ten firms. This can happen and this actually happens. Yes I totally agree that these are very rare cases. You will appreciate that in fact the qualifying cases in such firms are very rare. So rare has to produce rare. Is not it??

You know in Pakistan when ICAP council elections are held the qualified people of only very big firms win the elections. Just see the break of present council. Almost half (even more than it) are from AFF currently or at least historically. Remaining are from other big firms in majority or are the Govt nominees. Only one or two are out of them and even those are not from very small firms that you have pointed out. Why? Just becoz out of these 3,222 qualified members in Pakistan majority (I say clear majority) is from those big firms. Very few are those (I again say very few) who do not belong to such firms. Check the historical record of ICAP's council and you will find my statement true. Why this happens? Just becoz qualified members from small firms are very very fewer and elections represent where majority lies. Is there a need to prove it?

Now again the problem which appears from your e-mail is that you may not completely understand the current situation at Pakistan. I don't have to argue against ACCA's text, its number of students, it output on international level or other efforts it has made or benefits people have obtained from it. I have personally studied CIMA's books during my finals and found them very nice study material (although I read all other stuff which I could). The thing which I always want to explain is the mind-set of students of accountancy in Pakistan at large. One thing should be clear and understandable that to get something you always have to lose something.

People here try to get over night or AT LEAST easiest way outs to become a professional. I don’t criticize any one who feels ACCA as his career and works hard in it. I only criticize those who feel that CA is much demanding, very difficult, having wrong policies, and will never be easier to qualify so ACCA should be opted. They practically don't qualify CA even after taking so many attempts and then they say "GRAPES ARE SOUR" and move on to ACCA which they (every one knows) do easily. I personally have no doubt that criteria’s of ACCA are much easier than CA. It is never that challenging as much the CA is. I don't only speak for Pakistani CA in this case. However, I normally limit my discussion to Pakistani market as every one cannot leave the country.

We don’t have to debate on what is playing what role and what study material is available for what studies. To hell with this. Of course to get more you have to put in more. Is it some out of the world issue which does not come in our mind's digestive system? And for a typical Pakistani whose parents are not running factories and who is not a big land lord, everything is his career, qualification and future professional life. Is it not? Now I am not talking about the ones who are religious people and whose preference is not the worldly things. I don’t much argue about their thoughts. They may be very much right in feeling what they say.

So the people who have to invest everything in the career and qualification should not be diverted from the right track just becoz of propaganda of others in respect of CA. I tell you that I am qualified CA, I am also member of a few other professional institutes of Pakistan. I am also looking to do CA from ICAEW (as it is coming to Pakistan) and I will INSHALLAH do it certainly. I am also studying and planning for CFA (in personal capacity so far). It makes no difference for me whatever any body else do for his life. I am not hurt just becoz of listening something against CA. Mind it. It's not a matter of ego.

I just don't want the others to divert and deviate from the right track just becoz of few people who don't know the facts. The practical reality which they would shortly (in 4 or 5 years) be facing in their professional life. I did save a guy (who is member of this forum) who was almost deciding to quit CA and join ACCA due to failures in initial exams of CA. He kept on asking me so that I may advise him to do ACCA. I never advised and now Mashallah he has almost achieved his targets and he offers thanks to me who saved his future. In fact this credit goes to him who kept on working hard. I don't even wish to get thanks from others. I never expect. I wish to help others to the extent possible for me. Yes knowledge is not limited to me and I may have not comprehensive knowledge of every thing. This is a combined quest. That’s what this forum is meant for.

While living in Pakistan (I am not talking about UK) and wishing to do the best in this profession and even then choosing something else can ruin the futures and astray the expectations. That’s why I ask people to do the best and to concentrate on what would be best in a given environment. This is not a question of debate for merely the sake of debate. I do it sometimes but on this issue it is the matter of future of students who don’t know much. Please note one thing please. More jobs for a given qualification is not a criteria for concluding it best. In Pakistan B.Com gets more opportunities than M.Com or ACMA. This does not make them more attractive than higher and better qualifications. You must appreciate that the best and precious is always in short quantum. So the persons who wish to be the best and precious and invest time for their future should not be deviated from their objectives.

That’s what I want. Still if some one feels any other qualification better, he/she should have the test of it. Who cares and who is affected. In fact the number of professionals (high quality) if remains lower, it will benefit the existing such professionals. They are not going to face losses. You know demand supply forces. Am I wrong?

I appreciate the owners of this forum who have put in such a great effort and gave such a big platform for professionals to get the benefits which they rarely utilize. I request qualified people like you (and like others like Goodman, Mr. Mahmood Ch and Pracs etc) to participate in forum activities so that its standard could be improved.

Hope you can understand my point of view.


Best regards,




KAMRAN.