ICAP humiliating itself

[kamranACA]

Dear Khalid,

I love to communicate with writers like you who don't become offensive and personal for impersonal matters. This is a good quality which so many of us don’t possess. I may also not be an exception. I really appreciate you. But it's a fact that I or you cannot change any one's opinions. I explained you the situation so that you may understand the facts but if you don't agree with such viewpoint it is up to you.

I fully know what's CFA and for which specialization it is meant for. This was just an example although it does not have similar subjects. If you feel it is inappropriate you can look into CGA and CPA as well which have such similarities. They are not fully exempted from ICAP exams as well. But this does not undermine their importance.

Like-wise reduction of ACCA’s exemptions does not as such undermine the strengths of ACCA in world-over perspective which ACCA members normally claim for. I explained you that such issues are based upon mutual consideration. The reduction may be due to such reasons. If you don't want to understand or if you don't feel my words true, I don't mind at all. This is not a disgrace of ACCA at all just like the imbalance of one paper between ICAP and ICEAW is not a disgrace at all. Don't feel so. Yes, I agree ICEAW is well placed internationally when compared to ICAP. There are no two opinions. I wonder you see the two years training requirements for ICEAW but don't see that such training is not to be obtained at UK. Rather, such students will be trained by Pakistani firms. This shows that ICEAW believes in the strength of local professional training. Have you seen the requirements of ICEAW for authorizing a firm at Pakistan? You should review.

I am just replying your post so no one should feel that I am criticizing ACCA t my own. I am not sure but if you say I accept that ACCA is allowed to be in public practice at 80 countries or so. You know so many ACMAs (of ICMAP) claim that they are in public practice. Even law allows them to do so for certain medium or small companies. Still, do you know how many ACMAs are auditing such companies? Can you collect statistics of such 80 countries, total listed, unlisted, medium and small companies to evaluate that how many companies are in fact being audited by ACCAs? I am not talking about UK. Rather I am asking you about 80 countries. Come on my friend. Don't negate the facts. From ACCAs I strictly mean purely the ACCA founded firms.

You have also criticized training period reduced ICAP. I said I am not advocating ICAP. Yes, there could be some inspiration from ICEAW and this is by no means illegal or immoral especially when wise peoples over this forum are of the view that one should update itself in globalize perspective. When people talk childish, I just wish to tell the history of ACCA. Otherwise I have no interest in doing so. ICAP has been reducing / enhancing the training period for various entry streams historically. ICAP is an autonomous body and is authorized to do what its council considers expedient. For graduates it had been earlier on 5 years, then reduced to 4 years, then again enhanced to 5 years and now again reduced to 3.50 years. The regulator has to regulate what appears to be expedient in the circumstances. Yes, there could also be some inspiration. What's wrong in it?

Your information that ICAP students are allowed for training in industry is totally wrong and baseless. Revisit the source again. There could be some suggestions from the fellows like you, and this might have even been discussed somewhere but it has not happened at all. So again leave worrying; ICAP is not following ACCA in this matter. Rest assured.

However, if ACCAs are happy by feeling that some one is copying their ideas, they are at liberty to feel so. What goes wrong if some hearts feel satisfaction and some people get peace of mind?


Best regards,



KAMRAN.