03-31-2006, 02:31 PM
Statement wise reply is as follows
How ACCAs will be allowed to do audits? Section 254 of the Companies Ordinance, 1984 is not forumulated just to promote the ICAP's monopoly. Problem is not that ACCAs can't do audits, even bcom can do audit with experience of 3-4 years. The potential matters and not the charm of world wide recognition. And the reward speaks for the potential itself; this is common psyche. Listed companies do not bother for the higher fees of auditors, just because they demand quality.
ACCAs taking higher positions in company? These are the employers who prefer CAs, as I said the potential itslef speaks, and money is not problem for big companies if you want a work of quality. As you might not have seen any ACCA being CFO of a company!
You said CIMA gives full membership to ICMA. No its not right, ICMA gives full exemption to CIMA and not CIMA to ICMA.
In UK ACCAs are allowed to do audits in presence of ICAEW, if ICAEW has not yet lost its repute, then how can ICAP? Supreme is the supreme no matter whoever compets. However, the govt. will not allow any foriegn Institute to come and takeover the profession with ease. And if ICAEW comes in Pakistan, they will come in the capacity of ICAP and, not independently.
During recent visit of IFAC's president to PAkistan, he said that "Accounting profession in Pakistan is on a higher pedestal" The credit of it goes to whom? To any forign Institute? No. Then how can any foriegn Institute take over the profession in the country?
Further to this statement it has also been expected and stated that 'Pakistan will soon become a centre of excellence in this profession'. The credit of it goes to whom? To any foriegn Institute? No. Then how can any foriegn Institute take over the profession in the country?
In ICAP's annual report 2005 ICAP has stated its strategy, as to how to maintain repo of its members.
Mr.Usman, you being student of CAT or ACCA remain to be student of CAT or ACCA, you can't give any statement about the Institute like ICAP in such capacity.
Since I m the member of this forum I have concluded one thing that people (even Pakistanis) can't accept the fact that how Pakistani degree is better than most of the foriegn degrees. This is the first degree/certificate of which you Pakistani should be proud of!
ICAPians, the unparalleled..
How ACCAs will be allowed to do audits? Section 254 of the Companies Ordinance, 1984 is not forumulated just to promote the ICAP's monopoly. Problem is not that ACCAs can't do audits, even bcom can do audit with experience of 3-4 years. The potential matters and not the charm of world wide recognition. And the reward speaks for the potential itself; this is common psyche. Listed companies do not bother for the higher fees of auditors, just because they demand quality.
ACCAs taking higher positions in company? These are the employers who prefer CAs, as I said the potential itslef speaks, and money is not problem for big companies if you want a work of quality. As you might not have seen any ACCA being CFO of a company!
You said CIMA gives full membership to ICMA. No its not right, ICMA gives full exemption to CIMA and not CIMA to ICMA.
In UK ACCAs are allowed to do audits in presence of ICAEW, if ICAEW has not yet lost its repute, then how can ICAP? Supreme is the supreme no matter whoever compets. However, the govt. will not allow any foriegn Institute to come and takeover the profession with ease. And if ICAEW comes in Pakistan, they will come in the capacity of ICAP and, not independently.
During recent visit of IFAC's president to PAkistan, he said that "Accounting profession in Pakistan is on a higher pedestal" The credit of it goes to whom? To any forign Institute? No. Then how can any foriegn Institute take over the profession in the country?
Further to this statement it has also been expected and stated that 'Pakistan will soon become a centre of excellence in this profession'. The credit of it goes to whom? To any foriegn Institute? No. Then how can any foriegn Institute take over the profession in the country?
In ICAP's annual report 2005 ICAP has stated its strategy, as to how to maintain repo of its members.
Mr.Usman, you being student of CAT or ACCA remain to be student of CAT or ACCA, you can't give any statement about the Institute like ICAP in such capacity.
Since I m the member of this forum I have concluded one thing that people (even Pakistanis) can't accept the fact that how Pakistani degree is better than most of the foriegn degrees. This is the first degree/certificate of which you Pakistani should be proud of!
ICAPians, the unparalleled..
