02-19-2010, 08:17 PM
Rizwan,
I respect your comments and understand your feelings which are indicated in your posts; however, I expect that you must have gone through the foregoing posts, which sufficiently replies your most of the queries, i.e. we admit that ICMAP and ICAP produce two different types of professional Accountants for which comparison is illogical, CIMA is not to be compared with ICMAP on the grounds specified, Reasons for employersâ preference to CA over CMA, and others. I also acknowledge that Audit is not a core area of Management Accountants, furthermore, Cost Audit is not a statutory audit like Financial Audit, however, based on your views, a question should be asked whether what the need to introduce Cost Audit was? And why were the guidelines issued by ICMAP in this regard? Had it not been the concerned area then ICMAP would have considered some other facts and would have put in efforts elsewhere.
I initiated the topic, since I am and was of the view that Cost Audit rights should specifically be given to Cost Accountants, since similar practice is being followed throughout the world, then why should Pakistani CMA lack in this specific area? after above discussions, we are of the view that ICMAP has not put required efforts in this specific area so far, for which I am optimistic, as far as future of Management Accountancy and Cost Audit is concerned in Pakistan, that ICMAP will be able to get over on the aforementioned obstacles and it would start training as a mandatory for its student. Let the time come.
Let me clarify, in country like Pakistan, Professional Accountants must have sound knowledge about taxations issues due to the existence of contradictions in these two areas is much on the higher side as compare to other countries of the world.
Let me further comments on your views with regard to separate management accounts department, which may not be the case for the next many years. Since Pakistan is basically a developing country and most of the employers are of conservative view that a sole professional should be used to tackle their multiple problems, in such a case separate department, which is of no use, would attract a drastic effect over profitability. Which may not be borne by any employers.
Awais,
I am of the same view, which you said and thankful to you for adding value in this thread.
Kamran sab,
I am very much thankful to you for your valuable inputs.
I am of the view that future will decide better way for appropriate person.
Regards,
Ajnabi.
I respect your comments and understand your feelings which are indicated in your posts; however, I expect that you must have gone through the foregoing posts, which sufficiently replies your most of the queries, i.e. we admit that ICMAP and ICAP produce two different types of professional Accountants for which comparison is illogical, CIMA is not to be compared with ICMAP on the grounds specified, Reasons for employersâ preference to CA over CMA, and others. I also acknowledge that Audit is not a core area of Management Accountants, furthermore, Cost Audit is not a statutory audit like Financial Audit, however, based on your views, a question should be asked whether what the need to introduce Cost Audit was? And why were the guidelines issued by ICMAP in this regard? Had it not been the concerned area then ICMAP would have considered some other facts and would have put in efforts elsewhere.
I initiated the topic, since I am and was of the view that Cost Audit rights should specifically be given to Cost Accountants, since similar practice is being followed throughout the world, then why should Pakistani CMA lack in this specific area? after above discussions, we are of the view that ICMAP has not put required efforts in this specific area so far, for which I am optimistic, as far as future of Management Accountancy and Cost Audit is concerned in Pakistan, that ICMAP will be able to get over on the aforementioned obstacles and it would start training as a mandatory for its student. Let the time come.
Let me clarify, in country like Pakistan, Professional Accountants must have sound knowledge about taxations issues due to the existence of contradictions in these two areas is much on the higher side as compare to other countries of the world.
Let me further comments on your views with regard to separate management accounts department, which may not be the case for the next many years. Since Pakistan is basically a developing country and most of the employers are of conservative view that a sole professional should be used to tackle their multiple problems, in such a case separate department, which is of no use, would attract a drastic effect over profitability. Which may not be borne by any employers.
Awais,
I am of the same view, which you said and thankful to you for adding value in this thread.
Kamran sab,
I am very much thankful to you for your valuable inputs.
I am of the view that future will decide better way for appropriate person.
Regards,
Ajnabi.
