04-19-2006, 07:02 PM
I have read earlier mails (quite distasteful I must say) by NASCAR and I was not surprised to see that how can a âqualifiedâ CA behave like a street urchin when it comes to defend ACA qualification with that typical my-toy-is-better-than-yours attitude. In my early days in chartered accountancy profession I was fed with the same myth (but its not entirely a myth anyway) that being a CA means you are doctors of accountancy profession and all the MBAs, MComs, BComs ACMAs (later ACCA was added to the list) are just druggists (compounders as you say). CA students tend to develop an unconscious chauvinism right from the day they join ICAP and then they keep on looking down upon the âlesser professionalsâ throughout their careers.
Things have changed my friend and if you think that being ICAPâs ACAs means you are something invincible then you are sadly mistaken. No doubt qualifying ACCA is much more easier than qualifying ICAPâs exams and generally ACAs are better professionals than ACCAs etc. but the fact remains ACCA is growing and getting recognitions from many professional bodies around the globe. ICAEWâs CCAB route is a glaring example. And as exactly what was expected ICAPâs CAs (save some enlightened men like pracs) are crying hoarse and are foaming at mouth when they have finally realized that now there is an easier way that one could take to become an ACA.
ACAâs sheer small number has endangered their own existence and now it appears âmediocrityâ is going to dominate corporate scene in Pakistan (by number at least). ICAPâs monopoly is now in serious danger of dilution and the threat is a âlarge influx of Toms Dicks and Harrysâ with ACA designation. We ( Toms Dicks and Harrys) are very happy that we have found a way to be ACAs even though people like NASCAR are adamant that CCAB-route is not as easy as it appears.
O My fellow Toms Dicks and Harrys, keep a close watch on ICAPâs website. I have a feeling that ICAP is going to either withdraw exemptions granted to ICAEW members or going to re-structure the exemption policy so as to defuse the effect of ICAEWâs CCAB- route.
Kind regards,
Tom in fire