04-09-2008, 11:47 PM
Dear AccountingUnlimited,
You have rightly analyzed the situation. The major loser will be ACCA in its own instead of ICAP. Earlier it was facing ICAP's CAs and now it will face CAs of two institutes.
ICAP members may not lose so much for two reasons. Firstly, there are only 3 thousand plus working CAs of ICAP in Pakistan. Whereas, the requirement for such qualified persons is enormous and it will take much amount of time to saturate the situation. Secondly, so many (among the younG fellows) CAs of ICAP will also be competing CA of ICAEW and the resulting mix of ICAEW qualified will not be imbalanced at all. There would not be a competition among ACA from ICAEW and ACA from ICAP. Rather in most of the cases, there would be a competition among those who would be ACA from ICAP and those who would have dual qualification both from ICAP and ICAEW.
What I look in future, again the least benefited in such competition would be ACCAs.
Further, the experienced / senior fellows of ICAP will have no impact as they are already well positioned that cannot easily be affected.
Yes, ACCAs with ICAEW's CA will really improve their demand but they would not be at some advantage against a professional who would be ICAP's member and ICAEW's member simultaneously. You know the local charter has to take the advantage in so many oppurtunities. This has been happening and this has to happen.
Therefore, the benefits, the ICAP members will get, are far more than the losses, if any, supposed to be susained in any professional terms.
Best regards,
KAMRAN.
You have rightly analyzed the situation. The major loser will be ACCA in its own instead of ICAP. Earlier it was facing ICAP's CAs and now it will face CAs of two institutes.
ICAP members may not lose so much for two reasons. Firstly, there are only 3 thousand plus working CAs of ICAP in Pakistan. Whereas, the requirement for such qualified persons is enormous and it will take much amount of time to saturate the situation. Secondly, so many (among the younG fellows) CAs of ICAP will also be competing CA of ICAEW and the resulting mix of ICAEW qualified will not be imbalanced at all. There would not be a competition among ACA from ICAEW and ACA from ICAP. Rather in most of the cases, there would be a competition among those who would be ACA from ICAP and those who would have dual qualification both from ICAP and ICAEW.
What I look in future, again the least benefited in such competition would be ACCAs.
Further, the experienced / senior fellows of ICAP will have no impact as they are already well positioned that cannot easily be affected.
Yes, ACCAs with ICAEW's CA will really improve their demand but they would not be at some advantage against a professional who would be ICAP's member and ICAEW's member simultaneously. You know the local charter has to take the advantage in so many oppurtunities. This has been happening and this has to happen.
Therefore, the benefits, the ICAP members will get, are far more than the losses, if any, supposed to be susained in any professional terms.
Best regards,
KAMRAN.
