01-31-2009, 08:13 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by kamranACA</i>
<br />Dears,
Today I got a chance to discuss the matter of MOU of ICAEW with one of the senior officials of ICAP. He explained that there is some difference in the membership rights that have been allowed to ICAI people with the membership rights permissible to ICAP members, provided they complete respective formalities. ICAP people will be given full rights including the right to get into public practice for audit at UK and EU etc while such rights would be restricted for ICAI members. Therefore, he said the scenario of both institutes is different. ICAI did not ask for such rights while ICAP considered it necessary that our members having ICAEW's qualification should be given full rights. He said, ICAEW has asked to view both cases differently due mainly to the variation in membership rights which is a big difference in fact.
However, he informed that they are in discussion with ICAEW which may result in getting both options for ICAP members i.e. the option which is currently available (3papers+2years training and full membership rights) and the one which has been given to ICAI members i.e. one case study paper and two years of post qualification experience of any where with restrcited membership rights. If this would happen then it would be at discretion of ICAP members which route they will select.
I place on record that this is as per the discussion with that official. I have not so far checked it with ICAEW.
May Khalid or Pracs be in a position to comment on it.
Regards,
KAMRAN.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
All you are saying in your above post that ICAi(India) member who will become ICAEW member through MOU between ICAI and ICAEW will not get ICAEW audit certificate and ICAP members who will become ICAEW member will get ICAEW audit certificate and will be able to audit in UK and EU. Remember its not ICAEW which allows EU national to audit in EU on the basis of ICAEW certiciate its EU 8th Directive which allows EU national(who are auditors in UK) to audit in EU.
ICAP senior oficer who told you ICAI(India) member who will become ICAEW member will never not get ICAEW audit certificate is wrong and misleading.
If you want to become auditor in UK then you can get audit certiiacte from Britsih govet on the basais of ICAP membership if you satisfy britsih Government. And i you are EU national then this certifiacte is more than enough to audit anywhere in EU.
ICAI(India) and ICAP members who will become ICAEW using MOUs will have to go throught same stages if they want ICAEW Audit certificate. The main difference is that ICAI(India) members can become ICAEW member by passing one paper of ICAEW whereas ICAP members has to undergo 2 yrs ICAEW training plus need to pass ICAEW 4 papers.
Anyway I will wait for ICAP another lie.
Khalid
<br />Dears,
Today I got a chance to discuss the matter of MOU of ICAEW with one of the senior officials of ICAP. He explained that there is some difference in the membership rights that have been allowed to ICAI people with the membership rights permissible to ICAP members, provided they complete respective formalities. ICAP people will be given full rights including the right to get into public practice for audit at UK and EU etc while such rights would be restricted for ICAI members. Therefore, he said the scenario of both institutes is different. ICAI did not ask for such rights while ICAP considered it necessary that our members having ICAEW's qualification should be given full rights. He said, ICAEW has asked to view both cases differently due mainly to the variation in membership rights which is a big difference in fact.
However, he informed that they are in discussion with ICAEW which may result in getting both options for ICAP members i.e. the option which is currently available (3papers+2years training and full membership rights) and the one which has been given to ICAI members i.e. one case study paper and two years of post qualification experience of any where with restrcited membership rights. If this would happen then it would be at discretion of ICAP members which route they will select.
I place on record that this is as per the discussion with that official. I have not so far checked it with ICAEW.
May Khalid or Pracs be in a position to comment on it.
Regards,
KAMRAN.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
All you are saying in your above post that ICAi(India) member who will become ICAEW member through MOU between ICAI and ICAEW will not get ICAEW audit certificate and ICAP members who will become ICAEW member will get ICAEW audit certificate and will be able to audit in UK and EU. Remember its not ICAEW which allows EU national to audit in EU on the basis of ICAEW certiciate its EU 8th Directive which allows EU national(who are auditors in UK) to audit in EU.
ICAP senior oficer who told you ICAI(India) member who will become ICAEW member will never not get ICAEW audit certificate is wrong and misleading.
If you want to become auditor in UK then you can get audit certiiacte from Britsih govet on the basais of ICAP membership if you satisfy britsih Government. And i you are EU national then this certifiacte is more than enough to audit anywhere in EU.
ICAI(India) and ICAP members who will become ICAEW using MOUs will have to go throught same stages if they want ICAEW Audit certificate. The main difference is that ICAI(India) members can become ICAEW member by passing one paper of ICAEW whereas ICAP members has to undergo 2 yrs ICAEW training plus need to pass ICAEW 4 papers.
Anyway I will wait for ICAP another lie.
Khalid
