08-28-2004, 08:59 PM
I dont see that happening in Pakistan in the near future. Its all about demand and supply. Do you have any idea how many students apply to the Big 4 in Pakistan alone, every attempt only a handful are let in. Moreover, only one of the Big 4's in Lahore actually puts you on their rolls from the day you join them. The other 3 (i.e 4 at that time) had you work for them for free for 6 months to a year before they would register you ! students were just as happy. Since the average age for CA foundation/ACCA affiliate/CIMA graduate has reduced to 19-20 years, it makes no difference if the trainees are paid peanuts for another 3-4 years. It sounds fair enough that you start making money at 24-25 plus. I see that the smaller firms got effected by the foundation/ppt thing, ICAP solved that by allowing candidates with Masters degree (M.comm etc.) and B.comm with additional papers and no.of years of training. Least to say ours is the only country that requires a four year training period, every one else suffices at three years.
I have worked for a Big 4 in the UAE and have had the opportunity to work with staff from our US, UK and South Africa offices. I would say US was the better of the three, followed by SA and the UK. US too roughly follows an article style training (though you are paid a salary), but trainee accountants usually come in fresh from the universities (usually with an undergrad)at 20-21 years of age are paid less until they pass their CPA and gain some experieince. SA follows a very similar set up as ours and they have a bit of freebees with their 'accounting clerks', UK i believe is the place where it is most expensive to train an accountant. In the UAE,.. since there is no local accounting body so we get 'trained accountants' from country XYZ,.. so you won't find any trainees or clerks. We do train a small number of staff but the quality of time spent and the level of committment from the other side is not to Pakistani standards. Jobs are budget tied down to the fraction of hours !
I guess when there is little money involved the trainee understands that he or she is in for the experience and not the bucks.. there is more of an Ustaad-shaagird relationship between a Senior and Junior. I am not saying that the system is flaw less, what I am saying is it does work well and i find that the quality of accountants that come from a Big4 in Pakistan is superb when I compare it to the one's coming from India or the UK or South Africa. No offence meant may be we have in this part of the world attracted the wrong kind of candidates but that has been my experience.
I have worked for a Big 4 in the UAE and have had the opportunity to work with staff from our US, UK and South Africa offices. I would say US was the better of the three, followed by SA and the UK. US too roughly follows an article style training (though you are paid a salary), but trainee accountants usually come in fresh from the universities (usually with an undergrad)at 20-21 years of age are paid less until they pass their CPA and gain some experieince. SA follows a very similar set up as ours and they have a bit of freebees with their 'accounting clerks', UK i believe is the place where it is most expensive to train an accountant. In the UAE,.. since there is no local accounting body so we get 'trained accountants' from country XYZ,.. so you won't find any trainees or clerks. We do train a small number of staff but the quality of time spent and the level of committment from the other side is not to Pakistani standards. Jobs are budget tied down to the fraction of hours !
I guess when there is little money involved the trainee understands that he or she is in for the experience and not the bucks.. there is more of an Ustaad-shaagird relationship between a Senior and Junior. I am not saying that the system is flaw less, what I am saying is it does work well and i find that the quality of accountants that come from a Big4 in Pakistan is superb when I compare it to the one's coming from India or the UK or South Africa. No offence meant may be we have in this part of the world attracted the wrong kind of candidates but that has been my experience.
