11-09-2010, 01:58 AM
Dear
First of all, choice is always yours. I am not here to evaluate claims of any professional institute of the world. They are all good. If you wanna join ICAP, go ahead and join it. No doubt you would get quality education.
Further, I am asuming that you are currently residing in NC, NOT in Pakistan, and more likely to work in States.
If am not wrong there are about 195 countries in the world including US. So, the term "international" includes all other countries like middle eastern countries etc.
The countries which have their own professional accounting bodies always require membership of their accounting association for Audit jobs. For non-audit jobs employers have more trust on qualifications of that country so prefer membership of their own qualifications. US employers DO NOT prefer accounting qualification of any other country over CPA.
I don't know, how come you are living in States and haven't heard about preference of CPA and came up with unique idea of other qualifications over CPA. Vast majority of American public even don't know about other qualifications except CPA. Isn't it amazing that you are raised, got schooling in States, and likely to work in States and figuring out options with Non-US qualifications. Do you think that American employers would prefer your Non-American qualification over their own CPA.
Dear, its Americans who have done and leading most of the modern reasearch in almost every field of knowledge in modern times. Same is the case with modern research in the field of accounting and finance. AICPA (for CPAs) adopts this research. Later on all other associations of world adopt and adjust that reasearch as per their country's local requirements. Do you think that an adoptee would do better than the original research?
I don't know why you are bringing ICAI in your discussion. If you are of Pakistani origin living in States then you should talk about US or Pakistani qualifications, not the qualification that you cannot earn being Pakistani. Moreover, I know an ICAI member here in Canada who is in trucking business and certainly making more than what you have mentioned but it has nothing to do with his ICAI's CA.
As long as I know, each professional qualification requires a bachelors degree including ICAP or CICA. So you must have to complete that no matter whether you like it or not.
However, cab license can be earned without bachelors degree.
Similarly, most of the States these days require 150 credit hours of university/ college education besides bachelors degree JUST TO SIT in CPA exams. These 150 credit hours are equivalent to about 5 years of university/college schooling after grade 12. There are some other requirements too. So don't take it that easy.
Earnings in life depends upon many factors (like hardwork, personality, communication skills, experience etc.) among which most important is destiny and luck. It is amazing, you say absolute statements that ACCAs and ACMAs earn less than CPAs or CAs. As per your own statement, you are in grade 12. I would say that hold these big statements till you have some years of post qualification professional experience. Further, let me tell you that in high earning jobs, qualification is only a part of job requirements. No employer gives you big bucks just on basis of membership of a professional association.
CICA (Canada), ICAA (Australia), ICAI (Ireland), CA of Mexico, and if I am not wrong CPA (Australia) too have mutual recognition agreement with CPA (USA) called reciprocity. Members of these bodies (including CICA) would have to take just one reciprocity (IQEX) exam to get CPA, and vice versa. BUT all of these bodies too (including CICA) needs a bachelors degree to complete CA of these bodies in first place.
Let me explain you one more thing assuming you are currently in NC. ICAP requires 3 to 3.5 years experience in ICAP approved CA training firms in Pakistan. During that time students get Pak Rs. 6000 per month (Approx US $70 per month) as stipend. So, you would have to move back to Pakistan, find a training contract in Pakistani public accounting firm, and have to complete this length of experience with Pak Rs. 6000/ month, in addition to passing all modules and completing bachelors degree.
I am not aware of any CA institute in States. There are many professional associations in States in almost every field. Though CMA (IMA) is also a prestigious US accounting associations, but CPA has major chunk of accounting jobs in States. There could be two types of "recognition" i.e legal requirements or recognition and market recognition. In States, CPA is legally required to do audits and audit jobs. Similarly, as US employers have more trust on CPA and know more about CPAs they require them for almost all Non-Audit accounting jobs too. This is market recognition. Except CPA or CMA, no other accounting qualification has general recognition and acceptance for US accounting jobs.
By the way, are you sure that you are currently residing in NC? Similarly, are you sure that you are genuinely seeking to know which qualification to go for in States? You know what I mean. [)]
I hope it helps. Again, choice is always yours.
Regards
First of all, choice is always yours. I am not here to evaluate claims of any professional institute of the world. They are all good. If you wanna join ICAP, go ahead and join it. No doubt you would get quality education.
Further, I am asuming that you are currently residing in NC, NOT in Pakistan, and more likely to work in States.
If am not wrong there are about 195 countries in the world including US. So, the term "international" includes all other countries like middle eastern countries etc.
The countries which have their own professional accounting bodies always require membership of their accounting association for Audit jobs. For non-audit jobs employers have more trust on qualifications of that country so prefer membership of their own qualifications. US employers DO NOT prefer accounting qualification of any other country over CPA.
I don't know, how come you are living in States and haven't heard about preference of CPA and came up with unique idea of other qualifications over CPA. Vast majority of American public even don't know about other qualifications except CPA. Isn't it amazing that you are raised, got schooling in States, and likely to work in States and figuring out options with Non-US qualifications. Do you think that American employers would prefer your Non-American qualification over their own CPA.
Dear, its Americans who have done and leading most of the modern reasearch in almost every field of knowledge in modern times. Same is the case with modern research in the field of accounting and finance. AICPA (for CPAs) adopts this research. Later on all other associations of world adopt and adjust that reasearch as per their country's local requirements. Do you think that an adoptee would do better than the original research?
I don't know why you are bringing ICAI in your discussion. If you are of Pakistani origin living in States then you should talk about US or Pakistani qualifications, not the qualification that you cannot earn being Pakistani. Moreover, I know an ICAI member here in Canada who is in trucking business and certainly making more than what you have mentioned but it has nothing to do with his ICAI's CA.
As long as I know, each professional qualification requires a bachelors degree including ICAP or CICA. So you must have to complete that no matter whether you like it or not.
However, cab license can be earned without bachelors degree.
Similarly, most of the States these days require 150 credit hours of university/ college education besides bachelors degree JUST TO SIT in CPA exams. These 150 credit hours are equivalent to about 5 years of university/college schooling after grade 12. There are some other requirements too. So don't take it that easy.
Earnings in life depends upon many factors (like hardwork, personality, communication skills, experience etc.) among which most important is destiny and luck. It is amazing, you say absolute statements that ACCAs and ACMAs earn less than CPAs or CAs. As per your own statement, you are in grade 12. I would say that hold these big statements till you have some years of post qualification professional experience. Further, let me tell you that in high earning jobs, qualification is only a part of job requirements. No employer gives you big bucks just on basis of membership of a professional association.
CICA (Canada), ICAA (Australia), ICAI (Ireland), CA of Mexico, and if I am not wrong CPA (Australia) too have mutual recognition agreement with CPA (USA) called reciprocity. Members of these bodies (including CICA) would have to take just one reciprocity (IQEX) exam to get CPA, and vice versa. BUT all of these bodies too (including CICA) needs a bachelors degree to complete CA of these bodies in first place.
Let me explain you one more thing assuming you are currently in NC. ICAP requires 3 to 3.5 years experience in ICAP approved CA training firms in Pakistan. During that time students get Pak Rs. 6000 per month (Approx US $70 per month) as stipend. So, you would have to move back to Pakistan, find a training contract in Pakistani public accounting firm, and have to complete this length of experience with Pak Rs. 6000/ month, in addition to passing all modules and completing bachelors degree.
I am not aware of any CA institute in States. There are many professional associations in States in almost every field. Though CMA (IMA) is also a prestigious US accounting associations, but CPA has major chunk of accounting jobs in States. There could be two types of "recognition" i.e legal requirements or recognition and market recognition. In States, CPA is legally required to do audits and audit jobs. Similarly, as US employers have more trust on CPA and know more about CPAs they require them for almost all Non-Audit accounting jobs too. This is market recognition. Except CPA or CMA, no other accounting qualification has general recognition and acceptance for US accounting jobs.
By the way, are you sure that you are currently residing in NC? Similarly, are you sure that you are genuinely seeking to know which qualification to go for in States? You know what I mean. [)]
I hope it helps. Again, choice is always yours.
Regards
