01-31-2008, 06:04 PM
Dears,
I just saw this thread.
In some areas I agree with the statement of wandering star. ICAP has monoply in Pakistan being the local charter.
Rivalery exists in all competeing professions. Same is apparent from wandering star's own analysis where he made ACCA some SAHEEFA-E-AASMANI in comparison to CA.
ACCA is costly as compared to CA in Pakistan. etc etc.
However, on many issues (which appear to be little bit biased) I dont agree at all. I can have a long debate but will not do due to shortage of time and lesser importance of the issue.
Still, I just want to clarify some points very briefly for Pakistani students.
1. One, if dont have to go abroad, should take his decisions in Pakistani perspective and not in UK's perspective.
2. In UK accountancy is considered the easiest profession. We must not have a doubt over it. But in Pakistan CA specifically is deemed a very esteemed profession and difficult task. These (PAK AND UK) are two economies having various ecological, traditional, intellectual and economical conditions. We should not mess up our conditions with what is going on at any other place.
3. In UK still ICAEW's CA is considered more esteemed in comparison to ACCA. This is ground reality as far as key jobs (decision making seats) of big companies are concerened. What is normally published in magazines is always affected by the opinions of writers. [Since ACCAs have nothing to do they are more active in such activities every where.]{my biased view}. In fact ICAEW's CAs dont have to stricke for it. Grapes are not going to sour simply due to propaganda of ACCAs. Dont just look middle level or initial higher level jobs. See what happens on the top most exectuve jobs.
4. Since ACCA is simply an association and not a major charterholder of any country like CAs and normally operates through a company incorporated for such purpose (in Pakistan under section 42 of CO84), it does not compete the local charterholder anywhere in the world. I mean check it in Pakistan, India, China, Canada, USA, Australia, Malaysia, Hong kong and even in UK where it got some sort of charter I think. If at all places the local charterholders are in better position (again due to whatever alegations and reasons) then why a man who is not going to leave his country should go for it.
5. In Pakistan ACCA is far behind CA in its market demand and remunerations being offered. If some one sees ACCA written along with ACA for some job offer, he should try to know how many ACCAs have been finally selected against CAs. I dont talk about those jobs where CAs dont show any interest. Now, reasons could be enormous i.e. monoply, rivalery, jealousy, self protection, lesser introduction etc etc but the conclusion has to remain un-affected.
It is our problem that when we see some one in another country earning better in comparison to Pakistan we feel his qualification has a great demand over there. In fact wherever we go, even in gulf, the top level executive seats are not with ACCAs (in majority of cases) although at Gulf people dont much differentiate various degrees and qualifications. Simply getting jobs or availability of jobs is not a measure anywhere and even at UAE or UK. One must analyse who is sitting as executive directors, CFOs, Directors etc of big trading and other companies. A person at UAE can give better comparison. Now if some one has dual qualification i.e. CA as well as ACCA, I dont accept it a miracle of ACCA if he is in good position. My opinion may differ the opinion of Pracs and others on this issue.
So we should say the right as right and better as better. I again say reasons could be enormous and "grapes are sour" cannot work everywhere.
Sorry for some harsh words. Wandering star requested others to use decent language but himself used everything to raise this issue.
Regards,
Kamran.
