Revision of ACCA exemption ....... Right OR Wrong?

KK · 01-31-2003, 07:12 AM

Hello people !
ICAP has revised the exemption policy for ACCA students ..............

What u guys feel abt that .........in my opinion ICAP's decission is very correct and the exemption offered by ICAP should be in line with the exemptions offered by ACCA to ICAP students.

Aamir Ali Afghani · 02-04-2003, 05:33 PM

Yes, I do agree with you this the right decision of ICAP. This would turned the short way to qualify.


Aamir

KK · 02-05-2003, 09:24 PM

How many papers of mudule E and F will be exempt for students who have taken exemption on the bases of ACCA and failed to qualify in this last PE attemp ???

KK.

whr · 02-08-2003, 06:17 PM

I think its just anonther filthy trick by Icap To keep Our Acca community out of market- we are in no manner inferior than Chartered Accountants infact most of my friends in ferguson and kpmg prepare for thier exams using our text books. I personally feel being a Acca finalist that I m in no way less competent then those ca finalist in PE-2 , the difference just lies in the difference of taxtion and company law. and if any one of you had a oppurtunity of going through it , it is of much difficult level than pakistani tax.
So its no use bunking around a competent qualificatioin that is feared to outmarket Chartered Accountant's Monoply

KK · 02-09-2003, 05:10 AM

Yeah i can see that ............... i know many person who were not able to pass foundation exams of ICAP and than they use back door route that is ACCA and after taking exemption qualify CA ........if they were competant enough they should have pass foundation and professional of CA instead of taking this ACCA route.

Muslim · 02-11-2003, 03:50 AM

In my opinion hiring an ACCA as an accountant is the ideal and most economical option for today's enterpreneur (a.k.a. Seth). Where else you will get an individual with costing and accounting as sound as that of a qualified CA at one-third the price. (or is it one-fourth?)
Peace

KK · 02-11-2003, 07:46 AM

Yeah u r quite right that hiring an ACCA qualified is cheaper but ACCA's are not that sound as CA's . ACCAs don't have knowledge of local legislature e.g. Tax . Corporate laws ..........
This is the main reason CAs are still in demand even they are costlier than ACCAs

KK.

KK · 02-15-2003, 06:53 AM

ICAP is not sure what to do about the students who were granted exemption on the basis of ACCA but they failed to qualify CA in this last attemp (Winter 2002) of PE-2.

Whether these students have to give all the papers of module E & F or exemption stand valid and they will only appear in remaining papers???

NE 1 who have NE updates please contribute.

vakani · 02-17-2003, 03:30 PM

I beleive that decision of ICAP for taking back the exemption is not correct as it spoil our reputation in international market.

If ICAP dont want to continue with exemption policy, they should not allowed it in first place.

The intent is clear - in my views ICAP is scared of more ACCA's in the market getting CA certificate by giving only two papers. ICAP result policy is ambigious from the begining. You cant be sure of your result unless you get it no matter how well you have done in your exam. The result policy is in air and not adopted by any reputed organization in the world. Students dont know the passing criteria.

I accept that doing ACCA is much easier than that of doing CA as you have to gain 50% to pass the exam. Infact you can do so by reading the study material carefully. In contary, ICAP exam is not a piece of cake.

But if ICAP exam and result criteria is difficult, why our qualified CA's are not given priority over ACCA in Middle East. I possess both CA and ACCA certificates. But my employer give more worth to ACCA than CA.

Conclusion - ICAP should be very careful for making decisions. The professional attitute does not allow to take back your decisions without logical reasons.

QV

Usman Zubair · 02-17-2003, 04:34 PM

ACCA has more recognition in the Middle East market is only due to the fact that it is a qualification sponsored by the GOORAS. Other wise they cannot match the quality of Pakistani CA's. If the ACCA is so strong why not the CA E&W recognise right away as thier members. And why not ACCA have full right of practice in England. Why ACCA is considered as 2nd grade qualification in UK.

Love to all.

vakani · 02-17-2003, 05:58 PM

Who on the earth told you that ACCA is not recognized in ICAEW and cannot do practice in UK. If you have been to UK, you would know that majority of the professionals practicing their are either ACCA or CA from Scotland. There are more than 20,000 ACCAs practicing in UK.

The only difference between ACCA and CA from ICAEW is that ACCA is international body. You can do it without having practical experience in UK. Infact, you professional experience in any other country counts. However ICAEW is local UK body for which UK practical experience is necerssary like we need for ICAP.

As far as recognition of ACCA in UK is concerned, priority is always given to local bodies and ICAEW being local body is preferred in UK.

Now if you consider ICAEW as standard, let me give you another information. If you are ACCA with UK stream, you can have ICAEW membership by having 3 years experience in any UK accountancy firm (no matter run by ACCA).

I under no means want to degrade ICAP (I cant as being the member of ICAP) as I know that it requires lot of hardwork and more "prayers" to pass the exams than any other body. I do also recognize the level of our students compared to others.

The only point is ICAP policies. Given exemptions at one time and taking back after some time is not a professional attitute at all. ICAP being a professional institute should not enter into such practices.

My question is if ICAP had to take back the exemptions, why at first place it was awarded?

QV

Zaibi Solangi · 02-21-2003, 07:20 AM

This is simply not a professional attitutde, In my opinion a professional comes out not from his qualification but attitude.

What the service ICAP's so called professionals have given to this profession. The market of CA is still not developed even after more than 25 years of Institute. A fresh CA in this country is still paid around 25K+Car and on average maximum growth upto 70K. I think that package is a medium size package. Still u can easily find some BCOM or ICMA qualified (another bad mouthed by CA's) are earning better than CA's.

What ACCA has done they had attracted a lot of students in Pakistan. That is their first phase and now they are really planning how to capture the job market for ACCA, and let me tell you that they are competent enough to compete to do that and ICAP can do nothing, absolutely nothing. As our Senior ICAP members are busy in creating there own enterprises and not concerned with the promotion of Accountancy Profession.

Pakistani sized economy needs thousands of Qualified Accountants, but many enterprenuer have not yet realized their needs, its the responsibility of the Accountancy Instititutes to make them realize that they need a qualified accountant.

Just barking that we r good we r good will not allow CA's to be remain competitive in this market.

My dear friends laws of this country are in the process of change, and to date most changes (especially Income Tax) are made in order to copy good practices in UK.

Cricketer · 02-21-2003, 09:10 PM

ICAP has to streamline and improve their own examination policies and face the realities of the day. For how long are they going to settle results in the Council meeting instead of settling it through the examiner's pen!!

The revision of ACCA exemption is only a short-term/adhoc solution solution to the problems they are facing, but it will come back to haunt them in the long-term.

KK · 02-22-2003, 07:43 AM

WEll yaar i think now they trying to tie the loose ends and ACCA exemption is one of them ............quality of papers in recent attemp also improved so let hope and pray ............

Member of Largest Account · 03-28-2003, 05:36 AM

ACCA and CA Should be compared with facts.

CA has a plus point of studying local law and tax. CAs to my opinion are only auditors. They do no deserve place of financial managesrs as they study Financial Management in PEII. ACCAs on other hand study it in in three different papers at different levels. CAs will have to accept that the level of exams of SFM (CA) and 3.7 (ACCA)are of no match.

As far as Reporting in concerned CAs are better than ACCAs as majority of CAs study orignal Accounting standards, which many ACCAs of dont.

ACCAs get more exemptions than CAs in every accountancy bodys of the world.

ICAP do not want any other Accounting body to disturb its monopoly. But soon, as the awarness of ACCA is developed and ACCA adopts local Tax and Law variant, ACCA will gain popularity.