04-14-2008, 06:24 PM
Dears,
ACCA basically related to a market where financial products and issues, in practice, are at advanced stage than Pakistan. Every thing comes to the developing countries after some gap of time.
Dr. Salam's theory (although he was a Pakistani) found place in Pakistani study materials after almost 15 to 20 years and even then it is in very short form although it has shaked the theory of Sir Ein Stien. This cannot change the reality that such theory was developed by a Pakistani mind. This fact shows the time gap which we have with other nations.
Due to such facts, those nations are taking lead from us in development of various concepts. Why ACCA text is more advanced in so-called options/convertibles/bonds/hedges/modes of financing / derivatives and other such areas, is due to the reason that such things are practically adopted and are in use by some nations and still we are far behind even in its practice. I am saying "even in practice". As people say that CFA (which is far ahead) has lesser market in Pakistan (although at this very moment I donât agree with this statement) was only due to lesser amount of practice of such concepts in Pakistani markets.
Since necessity is mother of invention, whenever a product is introduced in the market, people start exploring it. However, since ICAP is well versed with International requirements, it has included in its curriculum the required areas to make its members well informed about all such products. None of ICAP members would be ignorant of such developments.
So if in some areas, we as a nation are behind them, it's not an allegation specific to ICAP. ICAP is still having great pace to develop itself as compared to other fields. Just check out what ICMAP is doing as compared to CIMA.
However, I don't agree to those who feel there is some prejudice used by ICAP in declaring results. It must not be called a disgusting approach. Yes, calling it this way is quite disgusting from a person who at the moment is nothing in his own. This would merely be a state of "grapes are sour" and nothing else. Believe you me.
I had been a student of ICAP and I must say I never got failure when I knew I have done well in exams and I never got success when I knew that my performance was not satisfactory or up to the required standard. I give this statement feeling my GOD in front of me. I never felt that any of my results in the whole CA was not as per expectation.
This is the matter of self appraisal. I know so manys even in my close circle that oftenly say that "Our performance was outstanding but we had to face the failure and we don't know what has happened" and whenever I listen such comments I donât find a way to control smile on my face.
So dears blaming ICAP for its result declaring policies is a lame excuse to satisfy own minds. It has nothing to do with facts. Believe you me. Only those people do it who have not been successful in getting this qualification or the ones who have embedded fear of failure in their minds.
Just for instance
I never saw a CA qualified who entered CA just for the reason that he could not got through ACCA exams. (Have you guys such examples with you???).
Yes, I can quote many ACCAs qualified as example who entered ACCA just for the reason that they could not make both ends meet in CA exams. Do any one has some doubt?????
Do you feel that the people who qualify ICAP exams are relatives of ICAP authorities. What an approach to mix-up the things. If some one is not upto the mark, he declares the policies and procedures as responsible for his failure. Yaar why don't you people grow up to make a better self appraisal and improve your own deficiencies.
I wonder how the people who cannot get through from the so-called easy (HALWA) exams of CA can manage to pass the most advanced, difficult and knowledgeable ACCA and then find no other way to criticise ICAP policies. ICAP has its own criteria and standard and it does not allow any one to over rule the passing criteria. If some one has that level, he gets qualified and if some one does not have he does not. Even I faced failure in ICAP exam and I surely know it was deficiency on my part when I faced it. There was no fault on ICAP's side. I have no doubt over it.
However, I place on record that these lines don't aim at undermining the importance of any other qualification. ACCA "could" be a very good qualification as well. I only said what we typically see in Pakistan and if some one feels the situation contrary to this analysis then why he talks about leaving Pakistan. This advice has not come from ICAP students. Mind it.
Some one said here, that ACCA people should plan to leave Pakistan, (I don't say this), yes, there could be some good market for Pakistani ACCAs in UAE or else but even that will not be matchable to CAs. I can prove it with figures.
This has nothing to do with which curriculum is better. This is to recall the figures and facts. If any body wishes I can give the comparison at UAE.
Rest assured at UK local ACCAs are in abundance (as accountancy field is considered easier in UK) and there is lesser room for Pakistani ACCAs. I don't say there is no room. Rather I say there is lesser room. Even some Pakistani ACCAs having firms in UK don't wish to employee Pakistani ACCAs. Check out with such firms to get the proof.
If somebody feels that all what I say is incorrect then he must keep on having such feelings. I will appreciate any one's strong stance over his ideas.
The biggest issue of ACCAs (in Pakistan) is that they don't look forward to have a good utility without qualifying CA either it is from ICAEW or ICAP or else. Why it is so? This should be analyzed. Why should we not concentrate on this fact rather than talking on other aspects.
Some one said here that leaving AUDIT behind, what is left for ICAP members. I can only request such fellow to open his eyes. ACCAs must not at the moment talk this way for two reasons. Firstly, they are straightforwardly the neonates in this economy. Secondly, they are facing very tough competition which will in my view not let them take the lead even in next 50 years. I don't at this stage wish to see beyond this time limit. I am talking about ACCAs and not about "ACCA plus CA from ICAEW plus CA from ICAP" etc. Mind it !!! Check the markets and don't get into simple battle of words. Check what is happening in fact.
One other important thing. Did we ever see any conflict of ideas between CAs of ICAP and CAs or CPAs of any other institute. Should we not find reasons for this fact?
I know nothing improved should be expected.
Best regards,
KAMRAN.
