CHARTERED ACCOUNTANCY HAS LOST ITS CHARM IN PAK

[dare-devil]

KIA KIA KHAWAB LE KE CA SHURU KIA THA. SUNA THA KE CA WAHID PROFESSION HE JISME INSAN BAGHAIR SAFARISH KE BHI CAREER BANA SKTA HE. LEKIN AB JAB INTERNSHIP KI STAGE AYI HE OR JOB CONDITIONS WAGHAIRA DEKHI HN TO PATA CHALA HE KE CA IS JUST LIKE OTHER PROFESSIONS. NO DISTINCTION.

[waqas50308]

You are right... There are many practical problem withthis.
1- Icap is not more supporting to student as it is with its members.
2-Icap is managed by Persons who are Partners of firms, they make policis and rules only which are beneficial to their buisness not Student and Icap as whole.
3- Icap it self does not have enough power to change thier behaviour.

One and most important in firms is Seniors like Partners/Manager/Supervisor etc deal with student as they were dealt in their time, he thing that has a right to do what was done with him, it is a very bad and discouraging behaviour.

In firms clients is all, not students.

There are dozens of Other facts , i have written only which i faced.

Sorry to anyone which is heart by it.

[bilalfca]

salam

devil n waqas!

The situation is not so worse as you have written!

you can't compare other degrees with CA just because you need some means (sifarish) to start your articles from "the BIG FOUR especially the BIG FOUR...."

In Pakistan, CA is still a highly recognized degree...

there are loopholes in every field, but there are certainly positive traits of that profession, just capitalize that positive points!

Regards.

[dare-devil]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by waqas50308</i>
<br />You are right... There are many practical problem withthis.
1- Icap is not more supporting to student as it is with its members.
2-Icap is managed by Persons who are Partners of firms, they make policis and rules only which are beneficial to their buisness not Student and Icap as whole.
3- Icap it self does not have enough power to change thier behaviour.

One and most important in firms is Seniors like Partners/Manager/Supervisor etc deal with student as they were dealt in their time, he thing that has a right to do what was done with him, it is a very bad and discouraging behaviour.

In firms clients is all, not students.

There are dozens of Other facts , i have written only which i faced.

Sorry to anyone which is heart by it.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
YES WAQAS YOU ARE 110% RIGHT. YAR THE BIGGEST PROBLEM WITH ICAP NOWADAYS IS ITS GREAT PASSING RATIO WHICH WAS NOT SO IN THE PAST. YOU KNOW ON ONE SIDE MORE THAN 400 CHARTERED ACCOUNTANTS GOT QUALIFIED BY ICAP EACH YEAR AND ON OTHER SIDE THE COMPANIES ARE DOWNSIZING THEIR STAFF DUE TO SLUMPING CONDITIONS OF ECONOMY. IN THIS SITUATION THE SUPPLY OF CHARTERED ACCOUNTANTS IS FAR EXCEEDING THEIR DEMAND. ICAP SHOULD CURTAIL ITS PASSING RATE KEEPING IN VIEW THE MARKET AND JOB CONDITIONS SO THAT THE PRESTIGE OF THE PROFESSION REMAINS AT HIGH LEVEL OTHERWISE IT WOULD BECOME A COMMON PRACTICE TO HIRE A QUALIFIED CA AT NOT MORE THAN 25000-30000 AS IN OTHER PROFESSIONS.

[Mubashir786]

I agree with BilalFCA.

[bilalfca]

salam

dare-devil is right about the facts..

every year, 400-420 ACAs are entering into the market..

I somehow agree in this regard.. because some ACAs are preferring to go to the outer stations like UAE, Europe etc... so, its not a big deal for ICAP to give 400 qualifications...

on the other hand, the global economy is, atleast, not in depression... we can see some recovery in different sectors....

overall, the situation is not bad... we can't even say that the conditions are good!

Regards.

[Muhammad Adnan Arshad]

still chartered accountancy is much better than others in many professional aspects ... especially, it's professional training/ articleship is the key aspect ...

[masroorahmed]

Salam to all!!! The comment posted by Mr Dare Devill is not consistent with the fact!!! the comment can easily put some one in an astray, But plz let me tell to you all that no matter the extent to which the market is saturated , whether it is affected by a economy boom , the competitive person would always have an edge , keeping in mind the luck factor at a certain degree,,, These type of post can discourage a struggling student , even the words by MR Dare Devil wud be running and racing in someone mind while studying ,, let em tell you that when you entered the market ,only a better person can beat you , either by means of his luck or his skills ,
please be positive ,, i m not critising any one but just showing mirror,

[bilalfca]

one thing for sure

CA is and will be an appealing degree for the students in Pakistan...

it is losing charm or not, it was, is and will be decided by the ICAP members how much exposure they get in field work to take our profession on the top!

[dare-devil]

All my beloved fellows who are of the view that CA is still an attractive degree and it is not losing its charm in pakistan, are right in one aspect. Definitely a person who is qualified CA and has a good reference can have a brilliant career prospects. But this provides no edge to the field of CA as compared to other fields, because in any field if you are qualified and has good reference you can have good career prospects. The basic point which differentiate and provides distinction to one profession on another is its capacity to accommodate the person who has no reference i.e. just on the basis of personal skills and knowledge, which is atleast not true in case of CA nowadays in pakistan, no doubt it was so in the past. From the stage of achieving placement for articleship in some reputed firm to the stage of getting job, every step requires good and strong reference and a person who denies this fact is definitely living in the fools' paradise because reality is reality and honey-coated positive statements could not change the reality, but they just could keep someone in dark. So i strongly request those who are in the habit of showing optimist views just for the purpose of encouraging others, that please don't do this. Because in their view, they are doing a good job by encouraging others to remain positive about their future but in reality they are playing with the emotions of others. Please tell others reality. And reality is this that CA has lost its charm in pakistan. A large number of students are siting idle after ca inter having no training opportunity. This clearly shows that ICAP is passing students blindly without having any regard for demand and supply. So it is my sincere advice to all readers of this post that they should not mis-guide new entrants into CA by saying that CA is very attractive field. Rather they should tell them reality that if someone has no good reference then CA is just a wastage of time for him. I know that all of you will think that i am an unlucky student who has not got any articleship opportunity due to lack of reference. But i would like to tell all of you that this is wrong. I have sufficiently strong reference to enter into any good firm and also have good educational record. I have taken 2 papers of Module D in this attempt and i am sure to pass them inshallah and after this there would be no problem for getting internship for me. The purpose of saying all this is this that i am not holding my this point of view due to personal reasons. I just want to spread reality so that every one who enters in the field of CA should know reality so that no one fall in extreme disappointment when the stage of articleship comes.(I am quite sure that most of people would not try to understand what i had tried to say in my post. rather most of them will start to defend their own point of view and criticise this post harshly. But it makes no difference. reality never changes by just denying it. ) Regards.

[masroorahmed]

AOA,,, Hey Dare DEvil Have you cleared all ur CA papers, upto yet, in Straight!!! in which MFC u belong !!! Have u got distinction in any of your CA paper !!! if the answer of all these is positive , u ll not be inhibited by entering a good firm ,,,
The situation u hav mentioned is obvious and not objectionable by me , but the situation is relatively changed not radically,, CA was tough and still tough, so no diff to the qualification itself, previously people get job easily after CA inter , but now depends on other factor ,, to Cover up with these factors , you need to be competitive and must have a peculiarities , that no one else posses, eg a positive attitude , internal capabilities , Erst these did not matter but today it is imperative ,,, we are living in competitive Era and every one of us need to nurture itself to make himself/herself a quality product to meet the supplier(Employer) need , Come with me , I will show you you the prestige that recently qualified CA are enjoying Without any sifaarish or wat soever .... you are professional and are expected to cope up the stress , rather to encouraging others to put down their weapons,,,,

Again the post is not intended to criticize you,,, You are Right But your tone is not consistent with mine....
Let me tell you the main diff , you are extremist keeping a view point 'Dont Enter CA cuz its lost its Charm' and to me'First Think !!!then go for it , if you think you ve potential rather than not going at all'


Think !! if every one begins to follow you on this forum by bieng detering from entering CA or ACCA , Pakistan ll not ve professional after 5 or 6 years ,,,SURELY.
I hope u follow the last statement,,,,


Regard

[usmankhalid]

Dare Devil has pointed out something that's very much valid. Getting into big four doesn't require capabilities or competencies, as we have all seen the worst of guys making it to big four using links of corrupt politicians. After passing CA inter, deciding whether to start articles was a very tough decision keeping in view that out of 80 trainees in my firm, only 1 student had passed Module -E during his training. Lets discuss that wise guy. After completing his training, for the next six months he couldn't get a job. He wasn't even called by any corporate. That shows how much commercial sector values ICAP guys. HSBC interviewers bluntly mentioned before us that **** Ca's are worthless and of no use to multinationals. Those who have earned foreign qualifications, like myself, would surely back HSBC's views that ICAP students pass C-Law and other subjects by cramming and by making examination tough, ICAP has only encouraged rot-learning. Once done with Articles, Ca students secretly cry in their locked rooms for they fail to get good remuneration that their MBA passed dumb peers get.

[dare-devil]

dear usman khalid, i really appreciate your courage to accept the reality. i tell you truth that, infact every one who is of c.a field knows this reality that in pakistan ca is rapidly losing its charm, but it is very painful to accept this reality because those people feel some sort of insult in this factual position. so they try to convince their own selves by saying such sort of things like icap keeps demand and supply of ca in view while passing the students. i feel a great pity on those people who are of the view that icap keeps the value of ca intact. if that is true, then i would like to ask those people that why icap is making ca more and more easy by eliminating bad failure system, by allowind extra 15 minutes, by passing a huge amount of candidates. i would recomment those people to please see the recent result of ca inter and foundation and also ca final and they will come to know that icap is blindly passing the students. dont concentrate only on passing students, but also watch the permenant credits which are infact future chartered accountants and you will surely get dazzled by the excessive pass rate of icap. so my dear fellows please come out of your sweet dreams that icap will always maintain its value in market. it is nothing more than a white lie.

[alihassan1414]

huge number of student starts ACCA just to get exemption for CA INETR....but as u all know icap has revised its policy about exemption for acca .......this will work as a barrier to entry for new students ........... use ACCA as an easy way.....

[usmankhalid]

The truth is that globally AccA guys are doing great. It is globally recognized and respected certification where as a Pakistani CA after qualifying has to re-open his books to qualify ICAEW examination. I mean, we spent nights studying IFRS and in the eyes of the world, Pakistan isn't adhering to International Accounting Standards. Now who's the rat here? World or ICAP that failed to keep up with developments.