02-10-2010, 08:10 PM
Dears,
Chartered Accountants and Management/cost Accountant should never be compared with each other in such a way as has been done in the foregoing posts, since both of the fields are different and should have no concern with each other. CAs are considered better option as far as the Audit of financial accounts is concerned, similarly, there is no alternative option available except to avail services of CMA as far as the Management Accountancy or cost Audit is concerned.
Within the special context of pakistan, CMAs are given less preference over CAs of pakistan in so many cases due to many disclosed and undisclosed reasons including no mandatory training requirement of CMAs stipulated in the CMA Act, if the mandatory requirement of training is started in pakistan in CMAs' firms then no reason to keep ICAP on the upper hand, since both of the institute provides very well professionals, the close subtitute of which is quite remote, specially in pakistan.
However, ICMAP is getting advanced by it's day to day efforts and have been in a position to be compared with ICAP, as far as the knowledge, syllabus, prestigiousness and production of quality students is concerned, and due to the same, ICMAP is being backed by Law, be it corporate laws or tax laws, in future, it is hoped that ICMAP would further change its strategies to make itself in line with internation stardards.
Last but not least, they should never be compared with each other, however, unfortunately in pakistan, ICAP considers it self as a big brother of ICMAP just due to the reasons that they are given preference on strategy formulation at national level, i.e. be it SECP or FBR, however, future of ICMAP would certainly change the views of ICAP provided that similar efforts are put in by ICMAP in future.
Chartered Accountants and Management/cost Accountant should never be compared with each other in such a way as has been done in the foregoing posts, since both of the fields are different and should have no concern with each other. CAs are considered better option as far as the Audit of financial accounts is concerned, similarly, there is no alternative option available except to avail services of CMA as far as the Management Accountancy or cost Audit is concerned.
Within the special context of pakistan, CMAs are given less preference over CAs of pakistan in so many cases due to many disclosed and undisclosed reasons including no mandatory training requirement of CMAs stipulated in the CMA Act, if the mandatory requirement of training is started in pakistan in CMAs' firms then no reason to keep ICAP on the upper hand, since both of the institute provides very well professionals, the close subtitute of which is quite remote, specially in pakistan.
However, ICMAP is getting advanced by it's day to day efforts and have been in a position to be compared with ICAP, as far as the knowledge, syllabus, prestigiousness and production of quality students is concerned, and due to the same, ICMAP is being backed by Law, be it corporate laws or tax laws, in future, it is hoped that ICMAP would further change its strategies to make itself in line with internation stardards.
Last but not least, they should never be compared with each other, however, unfortunately in pakistan, ICAP considers it self as a big brother of ICMAP just due to the reasons that they are given preference on strategy formulation at national level, i.e. be it SECP or FBR, however, future of ICMAP would certainly change the views of ICAP provided that similar efforts are put in by ICMAP in future.
