ACCA Affiliate stipend slashed? in Big4

[rafay321]

Hello,

I have been hearing that stipend for ACCA affiliates have been cut down by 50%?


Whats the news? and what is the point of this? even a CA-Inter earns 6.5k and ACCA affiliates are far more knowledgeable than CA-inters atleast.


If this rumor turns out to be true then what you think is the motive behind this? Just to show that CA-inter is better than ACCA which is like far from reality. How threatened these people could become i wonder? Or may be since there is no regulatory environment present for ACCAs unlike ICAP these people think they can do whatever they like?

If this is true than i am definitely out of this training crap and Pakistan enough is like enough. I will be financially impaired. Any sane educated person would vote this move as totally unfair and ridiculous.

[Toronto_Boy]

Dears

In short run, it may be a tactics to make more profits for partners. In the long run, it would be a strategy to keep competition out, to create obstacles for young, energetic, and more well versed with new technologies ACCAs who can give more competition to old professionals and can bring their compensations down i.e. to keep these ACCAs out of public accounting and to divert them toward industry jobs.

What a move to survive, and to curtail competition!!! Simply a wadayra approach to not let people get training so they won't give you hard time in future.

I would say to students of ACCA to be there in public accounting to have 2 to 3 years of experience. During that time, give tuitions to survive. 2 to 3 years of public accounting experience would be helpfull for your career in long run.

Regards

[rabia-k]

Mr Toronto Boy its even worse than this. A senior professional on this forum has already confirmed that only ICAP members can go for ICAEW training in Pakistan. This is just total discrimination towards ACCA's .God help ACCA's wishing to do ICAEW in future in Pakistan.

[Toronto_Boy]

rabia-k

I know that ICAEW's training in Pakistan is for ICAP full member CAs, and not for ordinary students of accounting in Pakistan. I already have mentioned this fact on another thread. Somehow, students of ICAP get excited with the name of ICAEW, and do not realize that 98% of them won't be CA of ICAP, so would not pass first hurdle to be ICAEW's CA. It would only be a dream for 98% of those students, however, their parents would be paying exam and annual subscription feeses for years.

Students of ACCA in Pakistan should not be worry about how to get ICAEW in Pakistan. If they need to get ICAEW in Pakistan, as per my understanding of CCAB arrangement, just wait for 5 years and satisfy other minimal requirements of ICAEW and apply for membership of ICAEW, if they want. See the details on following link;

http//www.icaew.com/index.cfm/route/125720/icaew_ga/en/Home/Join_us/Join_as_a_CCAB_member/Follow_pathways_to_the_ACA

Problem is for an ordinary Pakistani if he wanna study for ICAEW in Pakistan.

I hope it helps.

Regards

[rafay321]

If that stipend reduction is true than i have no choice left. These people are more than scared and they wont let us survive.

Kill all the competition to sustain your monopoly. What a great Hitler Nazi tactic.

[Toronto_Boy]

Dears

If I am not wrong, the minimum wage is Pak Rs. 6000/month. How come professional firms, professional institutes, and their members which should be advocate of rule of law in the country can ignore minimum wages regulations? Someone said that firms do not pay any thing in initial months. Is it true?

If it is true, then is it ethical and professional approach? What happens to advocacy for rule of law when it comes to our own interests?

Some points to ponder...

Regards

[rabia-k]

its 5 yrs for ACCA members . if an ACCA affiliate wants to join ICAEW then it will be 3yrs of ACCA training to become an ACCA member plus 5 more yrs to become an ACA from ICAEW.

[Toronto_Boy]

rabia-k

Usually education and training/job go together. So by the time one finishes all papers would have required experience too. But some students finish their papers first and then go for job. In that case, the whole process would be longer off-course. By the way, you guys are quite lucky that your parents pay for full-time studies. It does not happen in outside world.

Regards

[rafay321]

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[kamranACA]

Dears,

How insecurity speaks could be seen here on this thread. People base all the conclusions on so called rumours. It's non professional in my view.

I think firms should not reduce the stipend rates without any reason and in my view the person who joins a firm should get stipend from the day one. There is no two opinion to that extent.

However, again what we saw here is an illogical insecure feeling while alleging it to others simply based upon a rumour. Normally no one knows the origin of rumours and some one very wisely said that the rumour should be taken as spreaded by the person who conveys it. He may be wrong in saying so, however.

In fact our ACCAs don't realise that any thing detrimental to their interests should be taken care of by their ACCA chapter. This is in fact not a responsibility of ICAP members. I wonder why quite reasonable people always forget this very fact and start expressing their complexes by putting the responsibility on the shoulders of ICAP. Just for the knowledge of ACCA students I tell them the stipend rate required to be paid by a Gold category CA firm to ACCA trainees (part qualified) is Rupees 5,000/- only. For affiliates it is equal to CA Inter trainee. Mind it, this rate is fixed by ACCA chapter for one of the best category firm i.e. gold category. In fact ACCA chapter negotiate such rates on firm to firm basis and I am quoting one example where firm falls in gold category. Now keeping this in view, if you have seen the instances of a higher stipend, as expressed in above post, this should not be treated like anything but a good professional gesture of CA firms.

I agree that if some one has the abilities and is a qualified person, he should be paid. Now how we may compare CA Intermediate students and ACCAs is another story to which I am not concentrating. There could be hundred issues if we go in detail and every one should accept that personal cabailities can vary from person to person.

I therefore request the ACCAs that whenever they see some injustice or wrong doings they should contact their Chapter instead of basing the conclusions on rumours and getting dishearted for insignificant issues. Further, it may not be a professional way to affix one's own responsibility to others.

Ready to face criticism.

Regards,


KAMRAN.

[rafay321]

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[kamranACA]

Rabia,

The MOU, whatever it is called, is between ICAP and ICAEW and the training authorization to firms in Pakistan has been given within the meanings of that MOU. Therefore, if ACCAs or other streams cannot get training under such arrangement it should not viewed negatively.

I hope you can understand it.

Regards,


KAMRAN.

[rafay321]

Rabia kindly talk to some employers and job agencies before going for ICAEW after ACCA. You would not like to complete a BA in Accounting and a BSc in Accounts would you? You are a bachelors in accounts at the end of both. Oh there is nothing like a double bachelors. A new trend being promoted in Pakistan. Double masters/Phds and blah. Diversify your qualifications rather than repeating them.

[kamranACA]

Dear Rafay,

Is it better to have ACCA chapter (UK based) fathers instead of ICAP. However, this is just a rubbish note and I don't wnat to go at length.

I also wonder how you made the power game specific with Pakistani nation, perhaps keeping yourself out of it. Who can help if power game played elsewhere by every one on the globe is not visible.

ICAP has no authority to stop the growth of any other accountancy body. If anything is there, it would be GOP's decision and if you want to criticise then go ahead and do it. We also do it on other things.

Having said that, if in your view it's ICAP's responsibility to let the ACCA grow and make all arrangements for it and provide all rooms to it and give all projections to it, then how can some body make you to change your views. Carry them on. Cheers!

You did not like hearing anything about ACCA, it's good to be loyal with fathers. (in the meaning of teachers).

Regards,


KAMRAN.

[rafay321]

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