02-26-2009, 06:39 AM
Kamran
My observation is from personal experience Pakistani ACCAs with Big4 experience (Pakistan and/or Gulf) and local ACCAs here, However,I believe you and I'd rather you not quote that person's thread (as a matter of courtesy). Perhaps this person may not have had requisite experience etc. Well, not important really.
Toronto boy,
I don't see how I was personal in any manner, I simply mentioned a fact about people not having experience of the Pakistani market and about ACCA students in Pakistan but still commenting. Incidentally, I did not have you in mind (assuming you had recently migrated to Canada etc.) but certain other members, I guess this validates my point then.
I am not much of a writer, but would like to say that not being in Pakistan does not make me forget my experiences of the country and the ground realities prevalent there, more so I have a number of friends working in Pakistan a very close friend and relative of mine is an ACCA with Big4 training so I speak from first hand knowledge. Would you be surprised if I'd say the first job I landed in UK was based on my Pakistani ACA and not ACCA!
The country ACCA originated from ie UK, took the government's initiative ie DTI's (Department of Trade and Industry) initiative, regulation and policies to equate it to ICAEW. Had it been on ICAEW, they would have preferred their monopoly. I am a member of ACCA and it is in my interest to see it flourish all over, but there are certain ground realities which as ADULT, PROFESSIONALS one must come to terms with. (Remember I have not touched upon CGA vs. CICA). If you take a look at top industry leaders (Big4 is all ICAEW anyways), you will find that CFOs of FTSE 100 companies are 70% ICAEW members, the rest being ACCAs, CIMAs and foreign qualified accountants. Now, this may change going forward, but as of today this is the ground reality.
http//www.prospects.ac.uk/cms/ShowPage/Home_page/Find_graduate_employers/p!emgfk?mode=displayprofile&adno=19244&from=D
Here is a more updated independent survey from Accountancy age showing ICAEWs 51% and ACCAs 5%
http//www.accountancymagazine.com/Accy_Mag/features/FD%20Focus_FTSE%20100paysurvey.pdf
My purpose is not to compare qualifications as a cost-benefit/Market share/skills analysis but to show how the market still perceives ICAEW years after ACCA was given equal rights. Things are one step behind in Pakistan for ACCA since it does not have the regulatory backing, in all fairness I do not think ACCA will ever get that kind of recognition in Pakistan. Look around the world no developed or developing (larger economies like Pakistan or India) have or will ever let a foreign institute have regulatory status. Despite ACCAs recognition in Australia, Canada and South Africa the local qualifications have regulatory backing, Period.
Having said that, the CCAB route for ACCA to ICAEW speaks volume of how things are progressing, after all we do live in interesting times
My observation is from personal experience Pakistani ACCAs with Big4 experience (Pakistan and/or Gulf) and local ACCAs here, However,I believe you and I'd rather you not quote that person's thread (as a matter of courtesy). Perhaps this person may not have had requisite experience etc. Well, not important really.
Toronto boy,
I don't see how I was personal in any manner, I simply mentioned a fact about people not having experience of the Pakistani market and about ACCA students in Pakistan but still commenting. Incidentally, I did not have you in mind (assuming you had recently migrated to Canada etc.) but certain other members, I guess this validates my point then.
I am not much of a writer, but would like to say that not being in Pakistan does not make me forget my experiences of the country and the ground realities prevalent there, more so I have a number of friends working in Pakistan a very close friend and relative of mine is an ACCA with Big4 training so I speak from first hand knowledge. Would you be surprised if I'd say the first job I landed in UK was based on my Pakistani ACA and not ACCA!
The country ACCA originated from ie UK, took the government's initiative ie DTI's (Department of Trade and Industry) initiative, regulation and policies to equate it to ICAEW. Had it been on ICAEW, they would have preferred their monopoly. I am a member of ACCA and it is in my interest to see it flourish all over, but there are certain ground realities which as ADULT, PROFESSIONALS one must come to terms with. (Remember I have not touched upon CGA vs. CICA). If you take a look at top industry leaders (Big4 is all ICAEW anyways), you will find that CFOs of FTSE 100 companies are 70% ICAEW members, the rest being ACCAs, CIMAs and foreign qualified accountants. Now, this may change going forward, but as of today this is the ground reality.
http//www.prospects.ac.uk/cms/ShowPage/Home_page/Find_graduate_employers/p!emgfk?mode=displayprofile&adno=19244&from=D
Here is a more updated independent survey from Accountancy age showing ICAEWs 51% and ACCAs 5%
http//www.accountancymagazine.com/Accy_Mag/features/FD%20Focus_FTSE%20100paysurvey.pdf
My purpose is not to compare qualifications as a cost-benefit/Market share/skills analysis but to show how the market still perceives ICAEW years after ACCA was given equal rights. Things are one step behind in Pakistan for ACCA since it does not have the regulatory backing, in all fairness I do not think ACCA will ever get that kind of recognition in Pakistan. Look around the world no developed or developing (larger economies like Pakistan or India) have or will ever let a foreign institute have regulatory status. Despite ACCAs recognition in Australia, Canada and South Africa the local qualifications have regulatory backing, Period.
Having said that, the CCAB route for ACCA to ICAEW speaks volume of how things are progressing, after all we do live in interesting times
