Please tell me abt CA of England & Wales....

[kamranACA]

Dear Accite,

I use to say, "I never recommend ACCA". My recommendation is based upon my understandings which can be different from others and can also be fair as well as mis-directed. It neither provides a guarantee nor is a compulsion. You know it is a public forum.

I know many ACCAs who are among the best accountants, are well settled and have, with the passage of time, become a source of inspiration for upcoming professionals.

Here the issue is not of personalities or individual success stories. Rather, we have to consider all categories of students who don't know what seems to have been understood by you.

Every one doing ACCA feels he is doing CA. Families believe and develop same understanding. Parents keep on investing in their "future" and eventually they find the outcome is not what has been predicted. So, ACCA ultimately proves to be quite different for the people who develop wrong expectations.

That's why whoever (in Pakistan) asks me, finds the same reply. "I don't recommend ACCA". Of course decision is not mine in any case.

Now coming to Bahrain's issue. Middle east is and has been the heaven for every one invariably. A friend who was CA INTER (as well as ACCA) and was considered indifferent to his work by two employers with whom he worked could not complete CA and kept on struggling for long eventually went to UAE and is now working as director in a firm of accountants. We know he has no improvement at all. That's why I feel quality is being affected. Firms use to hire cheaper work force with some mentionable designation so they might have been prefering ACCAs at Bahrain. I also am of the view that middle east and UK are good places for ACCAs though not the best. Reasons are enormous in which detail I don't wish to go.

However, my comments for ACCA are mainly focussed on Pakistan's perspective and you will see mentioning of Pakistan every where on all threads in all my posts. Here situation is different, and has to deteriorate further in coming days. I don't feel it is a point yet to be proved.

The ones who appropriately discount the future expectations to have a realistic present value in comparison to CA must be the wise persons and would be on safe side in coming days. This is simply like a realistic assessment made by MBA (finance) or M.Com. Etc. I also feel ACCAs are better when compared to MBAs or M.Com.

As far as MRAs are concerned I am not against them. The days are coming when an International Accountancy Qualification will emerge (I believe it would not be ACCA) and cross border worth would be comparable. I also believe that basis of MRAs can be influenced by a number of factors. However, where MRAs are entered into for merely enhancing the revenues or increase the numbers then nothing will preserve the quality in the longer run.

I have recently seen 3 cases where ACCAs have applied for ICAEW membership on fictitious grounds. They used influence to get the signatures of lead and sub refrences (mentors) about the career development. In the long run this will increase ICAEW numbers and revenues but affect its quality considerably.

As far as ICAP is concerned I personally don't object the contents of MOU with ICAEW although I believe it is again unrealistic. However, I also feel that end of times has not come and things always keep on improving. At least I will not opt for it unless it is made realistic enough. Why I will not do so; because it's not a condition to my career. Why I will ever think to do is simply to enhance the membership base which carries attractions in generality.

Regards,


Kamran.