01-25-2010, 07:38 PM
Dear
FIRST QUESTION
You cannot get any better training in Pakistan than the quality professional firms. Reasons are enormous but the most important factor is that in firms you get rotated on various clients, roam around almost all important sectors of industries, learn quite variant issues that are normally out of the frame for the ones who are in industry in a specific department, meet a wide range of people and learn how to deal with such diversified mindsets, learn to manage people and produce result oriented team work, experience cultural and social differences and learn how to behave in each of the given situations, and many more. You will even be working with different managers and directors and partners at your firm and will be able to deduce a lot for your benefit from each oneâs exposure and experience.
In contrast, at industry typically you will be given a specified job, in a specified function or department, reporting to a specified official. There would be very meager rotation. The most important missing element in industry is delegation of work and confidence. The firm trusts in you once you are up to it and makes you a leader over the time span of 2-3 years. In industry, you will hardly be trusted unless you have been inducted as an employee; you have gotten promotions and are yourself on such a worthy post. You will always remain the sub-ordinate and will no where be delegated the confidence and independent work for taking your own decisions suitable in the circumstances. Due to this, you will not be getting that level of exposure and confidence and decision making powers developed in you as much you can develop and polish in a firm.
The only benefit which may be embedding in a particular training arrangement at industry can be of some job assurance after completion of training tenure. However, this is also not a must in most of the cases. Further, if you have been well trained in a good professional firm you will be introduced to lot more industries, people, executives which will open a lot more avenues for you to secure a job.
it may also be advised that if at the outset you get some good job (and not merely training) on the basis of being affiliate, you may consider industry a better option against the firm. But it will again depend upon your financial strength, your objective and future vision.
SECOND QUESTION
Every one has his views and carry basis for having such views. You yourself have to analyze what suits you most and what you are up to. Of course in Pakistan ACCA is far lesser in demand than CA is. Still this does not mean you will not get good jobs on the basis of your ACCA provided you have a good structured training and you have in fact learnt the required things and exposure during such training. I mean the training period has not been lost in fun making activities only. If you can do CA from ICAP, it will produce best Pakistan specific results. However, you have to assess what you can do or not do. I have a lot of examples where ACCA with Big 4 training have been well accepted in Pakistan.
As far as jobs are concerned, its decrease is in line with international situation as well as consistent with the particular political unrest at our country. We are getting short in every resource be it water, power, food, foreign investment, local saving, expansion, space, tolerance, peace, wisdom, vision, character, honesty or whatever. It is not very much specific to CAs or commerce professionals. You will witness it every where. If, due to our ill deeds, our lands become affected and deny growing food crops, the severe shortage of food will have nothing to do with any profession or specialty. It will cause hunger to every one. This may appear a joke at the moment but let me tell you all that this is gonna happen very soon. The year 2015-2016 is the year of severe food shortage world-wide. I am telling you all in advance. So, these error are on some other front. Once it will be corrected, every thing will start coming to the right place. Provided other things are good going, demand for CAs in Pakistan will remain as it is for at least 30-50 next years; otherwise the most important question would be of our existence and not of which profession carries more job opportunities.
THIRD QUESTION
The question is not merely of articles of ICAP. Rather, it is of qualification as CA. If you are not CA qualified and have its training, it does not carry promising return. So, if you donât aim to do CA, then training of three years for ACCA is fine. There is no doubt that Big 4 is a best choice specially PWC, but middle tier firms having quality systems may also be nice, if you are not inducted in Big 4.
FOURTH QUESTION
Every available opportunity has some trade off with the other. Likewise ICAEW and ICAP are equally good but have little trade offs. ICAEW is better if you want to shift out of Pakistan but if you want to be here in Pakistan and specifically engage in practice then ICAP is a must. I am also of the view that the guys who will get ICAEWâs ACA at Pakistan (without getting UK based training and study) will never be preferred over ICAP members locally.
However, for an ACCA, it will definitely increase the worth since ICAPâs membership would be available on the basis of ICAEW with all features except of permission to engage in practice.
FIFTH QUESTION
CFA is a very quality designation/qualification (not degree) of course; but who told you that it is bigger than CA and how such big-ness is evaluated? Itâs funny. However, let me tell you that CFA is a quite specific designation. Currently, its localized demand is not bad regardless of the deteriorated situation of investment companies, banks, mutual funds and stock exchanges (money and capital markets and investment flow). Still, being very specific it cannot fetch you more jobs or opportunities in terms of number as you will get being CA.
I donât feel odd if you wish to do CFA for improving yourself or for diversifying your knowledge and exposure or at least for specializing in a specific field. Itâs all about your own liking and choice. It will definitely bring nice results provided it is not messed up.
I hope all of the queries have been replied.
Regards,
KAMRAN.
