Something New Is Coming In CA

[kamranACA]

Did you cry for being not associated with ICAP? If no, then it's meaningless to build out a connectivity or linkage for yourself. However, you need to recheck your attempt of labeling the firm¡¦s attitude with something vaguely called as ICAP¡¦s monopoly. If a CA firm adopts a policy of not inducting the ACCA trainees, it is not something that has been preached or required by ICAP. I can tell you this with fullest responsibility. So, I hope you would think in an improved way in future. By the way, I could not understand why you call yourself a ¡§victim¡¨ of ICAP¡¦s monopoly when you also mention that not joining the ICAP¡¦s programme was one of your own decisions and that the firms denied to accept you. Where does ICAP come in between? ƒº You are on good job, is a pleasing news and whatever you are getting is achieved by a Pakistani, and is as such, a pride for us. Why would we be denying your successes?

You specifically opted to be personal, and regardless of having been clarified that how a discussion moves in blog activity, are grousing for the answer that was ¡¥almost¡¦ warranted. Friendly suggestion is to check the entire sequence once again. However, it is nice to see an outright upturn in your last post. Keep it up. By the way I wrote, ¡§they say, it is fun to be young¡¨. In my view the entire life is a fun provided we define and follow the limits. It refers someone else¡¦s act when you use the word ¡§they¡¨. Here again you linked it with the ¡§senior¡¨ of ¡§articles¡¨ which indicates something that has been denied. Anyway, I am not much concerned with it.

Coming to your queries and taking up the most important one first; let me assure you that the ones who would achieve ICAEW¡¦s membership through the routes other than qualifying its exams will PROBABLY not be considered for memberships by ICAP. This is the rule worldwide, if you can check with other institutes of the world. The word ¡¥probably¡¦ indicates that perhaps this rule has not been declared in black and white but can be done at any time as a matter of policy declaration or revision. I once, in a dinner, talked to one of the Vice Presidents of ICAP that this policy should be declared, and he replied that it can any time be documented if needed. So, cool down on this very matter.

In many of the UK colonial countries, so much has been historically taken ¡¥as it is¡¦ from British. In Bangla Desh, whose literacy is much better than us, they have adopted the entire syllabus of ICAEW ¡¥as it is¡¦ and that did not became a question of disrespect for them. In fact we in Pakistan have taken ICEAW¡¦s syllabus framework as a role model since it is one of the proven syllabuses. However, we did not jeopardize our local requirements since a number of subjects have been structured keeping in view what exactly we need. If you go down to its contents, there is nothing new that was not previously being studied or examined, except for a few routine developments. It is merely a matter of structuring of syllabus and why it has been done, I will tell you shortly. Pakistan is one and only sub-continent country that has adopted all to-date IFRSs (with all interpretations) except for IFRS-1, and all ISAs except for Clarified ISA 600. However, the adoption of these two standards is under consideration as well and target dates are not far sited. This is a biggest achievement for the profession as well as students of a country like us, and none other than ICAP has a role in getting to this target. After having achieved this, the contents of the syllabus of the most of the institutes in the world are meant to be same and this obviously had to happen since the core is same. {You cannot quote the examples of the institutes or countries that are NOT fully compliant to IFRSs or ISAs.} The issue is only of fragmentation and structuring into various modules. Now, let me tell you the vision behind structuring the syllabus as such. This is done (by all countries who follow some standardized syllabus contents) to ease out the process of understanding by other institutes of the world who are geared up to have in place MRAs. Such other institutes mostly have evaluated the syllabus of ICEAW and when such a syllabus structure will be used, the time to be taken by the process of mutual evaluation will reduce. Such institutes include CICA and ICAA etc. ICAP members already have only 2-3 papers requirement to qualify ICEAW and likewise, ICEAW members need to qualify a similar number of papers for being eligible to get into a public practice as a chartered accountant in Pakistan. Yes, they can become the member of ICAP without passing such papers but CANNOT initiate the practice as a chartered accountant in Pakistan unless they have qualified the required number of papers. Similar to ICEAW, currently ICAP is in dialogue with CICA whose delegates have also visited ICAP. Hopefully we will get better outcome of this process.

As far as exam reductions or additions are concerned, this needs to be inquired from ICAP and I hope if you are interested and raise such a query, it will be responded.

I hope your queries have been answered.

Regards,