ICAP humiliating itself

Schuaeb · 01-15-2009, 12:03 AM

Dears,

Whatever is going on here, atleast, its proving to be good sort of amusement for me.
Some people claim and try to be good at pointing out contradictions in others' conceptions and statements. Additionally, blunders are to be pin pointed. Well, we will see what they come up with when they get spare time. Still others uttering thorough gibberish stuff and surprisingly are completely unaware of it.

Mr. Khalid names the thread as "ICAP HUMILIATING ITSELF" and in his first post he wrote.
<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by mroneflower
 
What message ICAP has given to its members and world by signing this MOU that ICAP and its members are not capable of competing with ICAEW even in Pakistan, Its SHAME.

ICAP did the same thing in ACCA case. When ACCA was first introduced in 1995 in Pakistan. ICAP gave exemption of 13 papers out of 16 papers to ACCA Affiliate (please note that I used word ACCA Affiliate and not ACCA members secondly ICAP had total of 16 papers in 1995). When ICAP saw that ACCA is capturing Pakistani Market ICAP reduced exemption to ACCA Affiliate.

So what its mean ICAP just makes policies without collecting any information. When ICAP council has this standard then we can imagine what will be standard of ICAP members. By making such stupid policies in rush ICAP is giving message to world that ICAP members (Please bear in mind ICAP council consists of ICAP members) do not have quality and if someone employs ICAP members then ICAP members will take important decisions in the same way as ICAP council does i.e without collecting relevant information and without forecasting future impact of decisions.

ACCA and ICAEW

ACCA members are allowed to conduct Audit of plc, Investment business, Insolvency work and tax consultancy in 80 countries of the world including Whole of Europrean Union, Canada, Australia, New Zealand, South Africa, Singapore and many many countries of the world.

Furthermore ACCA Affiliate (again not ACCA members) are required to pass ICAEW 3 papers (not 4 as the case with ICAP members) with three years of training (work experience). It means ACCA Affiliate can use 3 years experience to gain membership of two bodies i.e ACCA and ICAEW.

On the other hand students need 3 to 5 yrs experience to become ICAP member and then further 2 yrs experience to become ICAEW member. Means ICAP people need total of 5 to 7 yrs experience to become ICAEW member where in ACCA case the required experience is three yrs.

Moreover ACCA members with 5 yrs experience can apply for ICAEW membership through CCAB route without giving and passing any exams.

NOTE I do not recommend any of ACCA Affiliate to go for ICAEW as it is waste of time and money. Moreover ICAEW will not add anything to your CV.
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Then suddenly he takes a you turn and comes up with
<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by mroneflower
 
I am saying it again I am not interested in proving ACCA is better than ICAP, If ICAP thinks its better than please keep on thinking.
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Surely he mentioned second time here that he is not proving ACCA better or comparing it with ICAP. However, I do not think anybody other than him can find anything other than the comparison in his posts. It does not require any efforts to establish the contradictions shown by him. However, KOI NAI HO JATA HE KABHI KABHI.

But the absurdities do not stop here. In a very recent post we found him bashing ICAP members once again as
<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by mroneflower
 
Another interesting think about ICAP. ICAP claims that it is ruling accountancy profession is Pakistan means in accounatncy college ICAP is also ruling. I request all reader to click on link below

http//www.skans.edu.pk/acca/08.php

In this page it in claimed that

1) A qualified ACCA (UK Stream) needs to appear for 3 papers of Institute of Chartered Accountants of England & Wales (ICAEW) only, remaining papers being fully exempt.

2) A qualified ACCA (International Stream) needs to appear for 5 papers of Institute of Chartered Accountants of England & Wales (ICAEW) only, remaining papers being fully exempt

Firstly ICAEW only conducts its examination in International stream and second it does not matter if one has passed ACCA under UK or International stream. All ACCA Affliciates (not member) need to give only three ICAEW papers.

What kind of teaching, coaching, training and inforamtion ICAP people are providing to students in Pakistan. Now I may say ICAP people are liars as well.

What ICAP people are doing. At lesat try to be honest with your own people and students. These ACCA students are Pakistani as well. I do not know why ICAP people are misleading their own people, in this way you are not helping Pakistan and you talk about patriotism. Seriously I am hurt not becasue of negative propaganda against ACCA but because you people are playing with students careers.PLEASE STOP DOING THIS.
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Now the link provided is of SKANS and ICAP is once again being blamed for things it has nothing to do with at all. SKANS is one of the most recognized ACCA institute in Lahore and majority of management of SKANS ACCA section are qualified ACCAs. Now read again the above quoted Khalid's lines by replacing ACCA with ICAP, at least it would be more honest presentation of the picture.

Khalid think yourself yaar after making such comments what weight age any of the rational readers can give to your ideas.

Yet again focus at the source of his information he is referring to in his following post and the severity of conclusions he has drawn. Making strong beliefs on the basis of unreliable and absurd information, thatâs what ACCAs are all about!!!
<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by mroneflower
 
ICAP people are still doing this. I know a person who has been in UK for 2 weeks and came here to study ACCA. This person told me that ACCA is certified accountant and is not Chartered body. When I asked him who told him so, he answered ICAP people. I think ICAP people do not know what ACCA stands for, ACCA standard for Association of Chartered Certified Accountant, so Chartered is part of ACCA name. Moreover Privy Council has allowed ACCA members to refer themselves as Chartered Accountant. It means if ACCA member calls himself Chartered Accountant in UK no one can sue him, remember title Chartered Accountant is protected in UK law. Outside UK ICAEW members will call themselves Chartered Accountant(Eng & Wales) where ACCA members can call themselves Chartered Accountant (UK). Despite this permission from privy council ACCA recommend its member to call themselves Chartered Certified Accountant to distinguish themselves from other bodies. I think I should explain to ICAP members history of word CHARTERED, as it seems they do not know origin of this word.

I also heard ICAP people saying ACCA is just an Association and not a major Chartered body. Word Association is protected by Law is UK and only those organisation can use it who have permission. Secondly by using word major Chartered body, one could think there must be non-major chartered bodies. I do not know difference between major and non-major chartered bodies, if anyone knows please do tell me. Actually the term non-major Chartered body does not exist anywhere in the world, this term is developed by ICAP members
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Now look at the source I heard, WOW, and by the way term used ICAP people in the above post needs to be elaborated.

Ms. Rabia you seem to be unaware of the difference between ACCA qualified from UK and ACCA qualified from Pakistan. In my opinion this difference in not created by ACCA management neither itâs due to the difference in their abilities and competence. However, the fact remains an ACCA affiliate from Pakistan finds it very difficult to get related recruitment in UK, however, its simpler for the one who is qualified in UK, and still easier for the one who is UK national (I am not including DESIes) also. I hope we should be mature enough to apprehend why the difference is due to. I personally know two of such people who moved to UK after qualifying ACCA. However, even after much of struggle they were not able to get recruitment in any accountancy firm. One of them ended in McDonalds serving the customers and another opted for MBA from some UK institute.

I think the difference in position of ICAP CAs and ACCAs in Pakistani market was aptly described in my first and no one seemed to have attempted to deny that, and if somebody does he or she may get it surveyed personally.

So it can be established from this that those who do not want to move abroad ACCA should not be the ultimate option, as I have said earlier and am repeating it now, its never the bad option to start with.

I never mean to degrade ACCAs as I believe it be a qualification which worth it, however, to be very honest any attempt to compare it with ICAP CAs in Pakistan is Pakistan is absolutely childish.