A PROTEST by ACCA students against the blocking of their registration with firms by the Institute of Chartered Accountants of Pakistan (ICAP) has been called off.
The Pakistani institute had directed firms to stop training members from foreign institutes, including ACCA, ICAEW and CIMA.
A Facebook campaign was launched aimed at protesting against ICAP's decision, which saw more than 800 people agree to attend the protest yesterday at various ICAP offices. However, it is understood that ongoing discussions between ACCA and ICAP saw the protest called off.
All three institutes have acknowledged the Pakistani professional body's stance and have told Accountancy Age they are in discussions with the ICAP.
ACCA has more than 1,500 members and nearly 50,000 students in Pakistan.
This is getting so common now that all institutes are are trying to hinder the growth of ACCA. This is so damn obvious. I remember back in 1998, ICAP Pakistan gave expemptions to ACCA qualified in all except 2 papers Law and Tax. They then reduced the expemtions to Part two only. Now they have even further reduced the expemtions. This case is also going on in other GAA institutes where they have stopped accepting ACCA e.g. AICPA US and ICANZ. Rather the sole purpose of GAA is to hinder the growth of ACCA. Shameful is this childish attitude amongst accountancy bodies.
Posted by: Suleman ullah khan, 19 Jul 2012 | 07:20
Agreed with suleman ullah khan,, i was doing research on same matter for so many and found out that all members of GAA which previously had very good and strong relations and alliances with ACCA have now started to compete against it... reason is simple wherever ACCA go they try to stimulate and change demand/supply for qualified accountants which is always unacceptable for local bodies as it creates potential impacts upon his members and students...
Posted by: Moiz, 15 Aug 2012 | 20:55
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