2005 & WTO(ESPECIALLY FOR SMR)

[Omar Salah Ahmed]

DEAR ALL
ASSALAMALAIKUM
WELL SMR I JUST THOUGHT I WOULD ASK YOU THIS SPECIFICALLY AND TO ALL IN GENERAL. I WAS TALKING TO ONE OF THE SENIOR FCA's YESTERDAY AND IN HIS OPINION AFTER WTO COMES INTO FORCE, ALL PROFESSIONAL QUALIFICATIONS LIKE ACA, ACCA, AND OTHERS WOULD BE EQUIVALENT, SPECIALLY SINCE ACCA IS INTRODUCING PAKISTANI LAW AND TAX VARIANTS ALL ACCA's WOULD BE ABLE TO CONDUCT AUDITS AS WELL AS SIGN REPORTS. SO WHATS YOUR OPINION ON THIS? CONSIDERING THAT YOU HAVE BEEN A VERY LONG ADVOCATE OF ICAP QUALIFICATION BEING SUPERIOR TO ACCA. DO U THINK THAT THIS WOULD REMOVE ANY APPREHENSIONS THAT PEOPLE HAVE HAD FOR ACCA's? HE SAID THAT IN THAT REGARD ALL YOU WOULD HAVE TO DO IS PASS THE LOCAL VARIANTS OF WHICHEVER COUNTRY YOU WANT TO WORK IN AND YOU WOULD BE AS GOOD AS ANYONE ELSE. LEMME KNOW WHAT YOU GUYZ THINK.

OSA

[sumaaan]

As of now, in Pakistan, the monopoly of ICAP reigns supreme.

[smraza]

Well Omar,
uptil now the icap is successfully maintaining the monopoly of CAs, and which is expected to be resumed in near future.
<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote>YOU HAVE BEEN A VERY LONG ADVOCATE OF ICAP QUALIFICATION BEING SUPERIOR TO ACCA.<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote> its not my personal opinion but generally the CAs are preferred to ACCAs and best criteria for comparison is the average salary drawn by the professionals, and the value of any thing is jugded by its price.

SMR

[Omar Salah Ahmed]

Assalamalaikum SMR and Suman
thankx for your reply's .. but I think neither one of you got my point .. what I am trying to say is that once ACCA introduces the Pakistani tax and law variants and the WTO comes into affect, do you still think that this ICAP monopoly will remain?? In my personal opinion it will not .. but I just want an opinion from both of you in this regards,

Ma Salam

OSA

[sumaaan]

<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote>
Assalamalaikum SMR and Suman
thankx for your reply's .. but I think neither one of you got my point .. what I am trying to say is that once ACCA introduces the Pakistani tax and law variants and the WTO comes into affect, do you still think that this ICAP monopoly will remain?? In my personal opinion it will not .. but I just want an opinion from both of you in this regards,

Ma Salam

OSA
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote>


Its quite simple to differentiate between ACCAs and CAs... You're quite right, as soon as ACCA introduces Pakistani Law and Tax variants, there won't be much difference between ACCA and CA...

But employers usually look at it from a different point of view... With the implementation of WTO, when employers would be seeking to hire an accountant, they'll find hundreds of ACCA affiliates and members, but won't find many C.A.s ... The question is, why less CAs than ACCAs ? What makes CA tougher than ACCA if its the same thing?

If ACCA is to be considered parallel to CA in the near future, why do people still opt for CA rather than ACCA?... Lack of knowledge??... I dont think so... Its basically because once a person has completed CA, he/she becomes automatically more educationally competent than an ACCA, because despite having a relatively similar course outline, CA exams are more difficult to pass than ACCA examinations... And this is not just my opinion, but a statement of fact...

The effort a CA student puts in for an exam is far more intense than what an ACCA student goes through during examination days... I am not at all overshadowing the fact that ACCA is tough... ACCA itself is not at all easy... And even if CA has more or less the same course as ACCA, a student of CA knowing that he/she will have more difficulty in passing exams will try to put more effort in studying... Hence, the concept that CA is tougher than ACCA...

But the fact lies in the understanding that when a student completes CA, the struggle he/she goes through, automatically makes him/her more competent even if he/she naturally wasnt... And basically thats the main reason why CAs are and have been preferred over ACCAs in the past...

And talking about Europe and the Middle East, its true that there's less difference between ACCAs and ACAs there... But tell you what, the respect and honor an ACA gets even in UK, etc as compared to an ACCA is obvious and noticeable... And ACAs are ALWAYS paid more than ACCAs in UK even if its a difference of only 6000 pounds p.a.