ICAP Reduced Exemption for ACCA and CIMA
By Bilal Siddiqui
It has been discussed in students so far and mostly we never take it seriously but the rumor is a fact and policy matter now.
Institute of Chartered accountants of Pakistan (IACP) in its new directive announced new exemptions available to ACCA and CIMA students. According to the notification, ACCA affiliates will only be allowed an exemption of 7 papers in total from module A to module D.
Table 1
|
Qualification |
ICAP Module |
ICAP Paper exempted |
Additional conditions |
|
|
ACCA |
A |
Functional English |
|
|
|
|
A |
Quantitative methods |
|
|
|
|
B |
Introduction to Financial Accounting |
|
|
|
|
C |
Taxation |
Provided you cleared paper F6 with Pakistan tax variant |
|
|
|
C |
Financial Accounting |
|
|
|
|
D |
Cost Accounting |
|
|
|
|
D |
Auditing |
|
|
|
|
|
|
|
|
|
CIMA |
A |
Functional English |
|
|
|
|
A |
Quantitative Method |
|
|
|
|
B |
Introduction to Economics and Finance |
|
|
|
|
B |
Introduction to Financial Accounting |
|
|
|
|
C |
Financial Accounting |
|
|
|
|
D |
Cost Accouting |
|
|
- Now the problem with this new exemption policy is that most ACCA students opt for UK variant for paper F6 and almost 50% ACCA students left paper p7 to opt others (P4, P5 or P6). So effectively speaking, its only 5 papers now.
- And yes – for CIMA students, the exemption is now just for five papers.
What could be the rationale behind this new decision? We’ll try to find out this week but till then you can let us know your feedback in comments.
Comments (101)
It is a good policy if you think without biasness.
whatever the policy is the consequences will be adverse for ACCA student.
it is totally discouraging decision of ICAP for ACCA exemption…
but we r confident abt their degree because internationally it is more valuable than CA………..
Dear Junaid,
Even ICAEW doesn’t have subjects functional english, Introduction to Finance and Economics and mathematics. Why doesn’t ICAP reduce the exemptions to ICAEWs then? These three subjects are incorporated in other papers. ACCA has THREE cost/management accounting papers: Cost accounting(F2), Performance management(F5), and Advance Performance Management(Like management accounting in Final papers of C.A). You should compare syllabuses and question papers.
I saw both ICAP’s and ACCA’s Auditing papers(including Advanced Audit), the standard is equal.
The exemptions given by ICAP to other professional bodies are on policy basis, and not content.
Regards,
Shujah Ahmad
The Icap organization is just jealous of acca students , cause they know that we get more value all over the world .. hahaha according to the world population the minority is Ca .. no problem red necks of accounts
i agree with mr. shuja ahmad that the exemptions given by ICAP to other professional bodies are on policy basis, and not content. ICAP do not consider any rationale for their policies and decisions. in my opinion the contents of all professional degrees are almost same. it doesnt matter that u get 2 degrees of different bodies in the same line. getting 2 degrees in the same line i.e. accountancy is just a repetition. students should better diversify rather doing ca after acca.
This is professional jealousee
hi everyone.
icap runsout because new accounting courses like cima ,acca and cfa ,cpa.
when we compare icap with acca,cima,aca then ok acca &aca has value equal in world even more out of pakistan.
no.2 icap is now less attaractive and charmful as it was in past.3
3-now they have just showing off that they are not satisfied with other bodies standards.
and impact new students that they should look forward for icap instead any other.
icap is good in pak and hardly in middleeast but icaew&acca are globaly recognised.
even usa dont want to compare icap with thier cpa or cfa.because cfa and cpa are much more higher.
icap papers are assessed by pakistani local exminers while acca and icaew are checked by panel and even review facility,
why icap have no review facility.
why thier audit paper is more knowledgebased as compared to application based.
dear students icap just showing off.they are good in pakistan but pakistan is hub of corruption,and due to industrial crunch in pakistan they are also suffer ,,while acca not only for pak they can topup with canadian ,icaew and many more counries chartered accountancies.
leave this topic m doin acca and cima both
icap not recognise well like acca out of the pakistan
not in paksitan also just enjoy monopoly
pls provde guide about exemped papers for those students who are applied on the base of mcom for acca
Dear ACCA’s Students!
I want to give you one suggestion that, don’t wish to get C.A degree from ICAP. if you wish get more degrees Therefore go towards ICAEW or CIMA.
Dear, For M.Com Students, five papers are exempted. But for more updated information you should contact ACCA Office directly!
i think its a good decision…every country has his own tax calculations… so ACCA students should learn the pakistan tax..
[...] move by ICAP when it reduces the exemption of ACCA and CIMA students wasn’t really appreciated by many. Since ACCA is the market leader [...]
Shuja
I don’t see how you can demand that exemptions given to ICAEW-qualified need to be reviewed. As a matter of fact, if you are ICAEW-qualified, you can opt to join membership of ICAP whenever you like. I know of quite a few in Pakistan who have NOT cared to do that. Of course, if you are a Test player, what charm there is to play in club cricket?
Well the whole world recognizes ACCA qualified as well qualified accountant. I just don’t know why ICAP is ruining student’s career like this. They should welcome the student in CA profession. If the whole world is recognizing ACCA as an accountant why they can’t do it. That’s really biasness. ACCA should give one or two paper max to be CA not 8 more papers to become CA. I think this is the reason ACCA is also giving very less exemption to CA
its a very bad policy as good firms in pak give articles only to c.a students nd this will reduce the worth of acca students….:-(
its really disPOinting……they gotta understand we r frm PAkistan!
Firstly i heard that earliar in jan 2011 that Icap has cancelled all exemptions for ACCA ….Now its good to hear that atleast therz some relieve given by them….for those who want to do CA as well like me………I believe that they have taken a fair decision cuz if u guyz see a job requirement on an audit firm bases then u will realise that they want sound knowledge of IT ,company law and economics as well…….so for that u just need to give 3 more papers and get knowledge along with CA intermediate certificate thats a good deal….isnt it?
sir agar kesi studentf3) na matric k bad fia(f1 f2 and f3)aur acca k skill mode k 3 paper keyea ho to us ko ca may addm mil skta hay
I think it is fair decesion… Because there in no
Pakistani tax Law Paper
Economics Paper
Computer Paper
OBBC
And Mercantile Law (Pakistani) in ACCA course.
That is the reason ICAP is not giving Exemption . I am not sure about economics.
icap make policy just like our politicions
Can anyone tell me resourse for F6 pakistan variant as well as tutuors…………..
Totally fair policy!!
First realize what kinda exemptions are offered to Icap students by ACCA, and then decide whether the decision was right or wrong. You need 2 hands to clap!! Acca, itself was the “pioneer” in putting forward an unjust exemption policy for Icap students, so why the whine when they (Icap) back-fired.
But more importantly, why go for CA after ACCA, even if its from ICAEW or ICAP. Its baseless. Similar to buying a 2 inch bigger television for the same room, so try going for the DVD player (CFA) or Additional speakers (CIA) etc. Go for something that adds value to your respective qualifications (which is ACCA in our case).
the policiy icap made for acca students is discourage in my view acca students has more talent and knowladge and standard as compare to icap students. icap has value in pakistan only where as acca.iceaw has global value.the icap discourging our own nation students to learn more or become good educate them for pakistan value
only i casn say this policy is not good for our nation students to learn more and become good pakistan all over world.
my request is review the policy for pakistan students and give chance to learn more in his own country
my request is review the policy for acca sudents to learn more in his own country and to become good pakistani/citizen
Mr Yaseen Syed is correct….. go for cfa
[...] ICAP was so generous and they offered ACCA classes. I’m sure someone from ICAP will explain why are they reducing exemptions when they themselves are offering ACCA [...]
if the ACCA students hate ICAP and they are not satisfied with their policy about exemptions, and if they think that ACCA’s are far superior than CA,
then the question is raised that
WHY YOU DON’T END UP ON ACCA AND CONTINUE DOING CA…..?????
Salam alll;
Dear ACCA freinds if you think like a Pakistani then you will favour the step bieng taken by ICAP to withdraw its exemptions for those Subjects which havent been studied in ACCA. Then tel me how could u ask for the exemptions of Courses you havent study?
Furthermore, look at ACCA policy that they are given just 3 Papers exemption for CA inter.
Now tel me who is employing biasdness????
Salam alll;
Dear ACCA freinds if you think like a Pakistani then you will favour the step bieng taken by ICAP to withdraw its exemptions for those Subjects which havent been studied in ACCA. Then tel me how could u ask for the exemptions of Courses you havent study?
Furthermore, look at ACCA policy that they are given just 3 Papers exemption for CA inter.
and same exemption is offered to MBA’s.
Now tel me who is employing biasdness????
[...] The question was: Why ICAP reduced exemption for ACCA students? [...]
I think CA Should Award all exemption except those relates to taxation and Corporate Law. There should be no doubt that syllabus is almost same and International Standards.When Financial and Auditing standards are same then then related subjects should be fully exempt.
its is agood policy
to them the students doin ACCA are not from pk….thats all they treat in there policies…..i mean they still livin in a box…..think globally now…..
Pl Send Me Approved Employer List name in Pakistan
ICAP’s policy z all about give & take, if ACCA is not willing 2 give ICAP students enough exemptions then why should ICAP give ACCA students CA-INTER exemption????
Correctly stated that ACCA far superior to CA in every aspect. the only drawback for going for ACCA pakistan is that “due to the pathetic and uncompetetive nature of ICAP they do not allow any other professional accountancy body to perform audit. To further strengthen its grip on pakistan’s accountancy profession ICAP continues to lessen the exemptions given to them. this is real cheap tactics if u ask me. Instead of reforming their methods and bringing it in line with the international accountng bodies ICAP continues to ignorantly degrade them.
In line with all the education boards of pakistan. ICAP’s policies seem to have absolutely no rational at all. Exemptions should be based with regard to content. Ive got only one thing to say to the policy makers of ICAP ” GROW UP ALREADY “
�Our greatest glory is not in never falling but in rising every time we fall.� � Confucius
for all acca students who r trying to prove that icap and CA’s are useless, I just wanna say that respect others if u wanna get respect. I know many qualified acca students who cannot even write a correct application. they cannot even pass 1 paper of mod e of final level. I don’t know y all of u r making so much of fuss. icap is fully recognized worldwide including icaew. if u spit on moon that will come rite back onto ur face. so basic point is to learn to give respect n be respected. its better to resolve ur shortcomings rather than complaining and this is Wt icap teaches u.
regards,
ahmad.
AOA..
well we are nothing to say what ICAP suppose good or bad for others… ACCA is far better than C.A in the sense more kwoledgable, good in communication skills etc. One thing that matters in Pakistan is CA monoply. The day when other regulatory body like ICAEW and others are given stamp authority, the result is simple.. Proud to be an ACCA… its a mile stone
Allahafiz
ICAP only wants to save its market as ACCA is taking over……If there was any rationale behind this policy then they should have taken action since CA qualification had started…….just stabbing ACCA students from both ends is really disappointing………complete biasness……..
First of all, lol u think acca is better then ca in terms of knowledge (atleast i know how to spell it correctly;))? Do they teach u business communication, economics, information technology and business management in acca? Do u even know how important and helpful these subjects are to your career development?
Secondly, ive told u people a million times before that it’s not about monopoly it’s about quality. The day u understand this will be the day u realize the truth.
And don’t give me that same old excuse that acca is recognised world wide and what not. Even if it is tell me one thing. If u go to UK as an acca, would they employ u or one of their own acca’s?
biasedness towards ICAP won’t lead the ACCA’s anywhere….trust me all this hogwash glorifying ACCA’s is just stupid…Simply compare ACCA with ICAEW and this thing would dawn on you that even in England ICAEW’s are most respected in professional circles than ACCA’s….even though you guys are allowed to audit there
…simple when in a gora and enlightened country, there ICAEW’s are valued more then how how can you go on imposing the writ of ACCA’s in Pakistan..
Think about it
i am acca professional student. Before joining acca i studied ca from icap and attempted module exams and quit ca coz mod d badly stucked
But guys believe me after turning to acca i feel i m not satisfied. Theres no comparision with icap
N i read the above comments , people said icap ca has no value worldwide but i thnk u guys are not aware that after enron’s collapse 1000 furgoson chartered accountants were appointed worldwide juzz because of their strict application of isa’s
Icaps quality cant be challenged atleast with acca coz i have experienced both ie acca n ca
I appreciate ICAP’s decision.
did acca give any relief to ca students then icap by giving 7 exemptions is doing a huge favour….I reckon one exemption would also be considered as favor from icap considering no exemption of a single paper is given to ca students!!
By the way do you people know how much Exemption ACA Pakistan get from ACCA 5 or 7 papers so its fair
in my opinion it is not justifiable, ICAP should give exception till module D