HEC recognizes the ACCA qualification as being equivalent to a Masters degree
Press Release
The Higher Education Commission of Pakistan has granted equivalence to ACCA qualification to a Masters level degree. A circular issued by HEC states that ‘HEC recognizes the membership of Association of Chartered Certified Accountants (ACCA) after completion of professional qualification and other requisites including training and required professional experience as equivalent to MComm. degree awarded by Pakistan universities on the following terms and conditions:
i) There will be no exemption awarded to incomplete qualification of ACCA.
ii) Initial admission in ACCA programme must be after having 12 years of education (intermediate level, A-level or equivalent certification from IBCC Pakistan.’
ACCA members, students, learning partners and stakeholders have hailed HEC decision calling it a major milestone in Pakistan’s professional accounting education pursuit of international recognition and excellence. Arif Masud Mirza, head of ACCA Pakistan commenting on the recognition said, ‘This is bold step by the HEC and shows that HEC is very much in touch with the changing demands of the highly skilled labour market, the mobility needs of our young members and their education aspirations generally. This is a rational step purely based on the academic merits of the ACCA qualification, I believe it will go a long way in promoting young professionals from Pakistan, increasing their employability and in the long run contributing to the social and economic development goals of Pakistan.’
Dr Afra Sajjad, Head of Education and Policy Development, stated: ‘ACCA Pakistan is dedicated to the growth of the accounting profession in the country. Essential to this is the provision of high quality tuition. In partnership with our Approved Learning Partners, through engagements, capacity building and awareness raising, ACCA aspires to bring professional accounting education in line with international benchmarks. Setting regional standards of excellence and this recognition from the HEC will add as an incentive to achieve this aim. Both ACCA and HEC share values such as integrity, opportunity, accountability, innovation and diversity, values which are very much needed if we are to rely upon our well trained young professionals to play a leading role in business and economic growth.’
The Chief Executive of ACCA, Helen Brand, offered a congratulatory message to the ACCA Pakistan community and added that: ‘This HEC recognition is evidence of the quality, rigour and integrity of the ACCA Qualification and the international standards to which it is set. This recognition will inspire ACCA members to play a greater role in both the economic and business growth of Pakistan.’
Comments (72)
Whats the source?
well this is a good information as being a acca but i am worried about the conditions imposed by hec
{i) There will be no exemption awarded to incomplete qualification of ACCA.} as i have am a certified accounting technician as well therefore i was exempted from first three (f1-f3) papers . does it mean i am dont qualify for this m.comm equivalent degree ……………. farzan_zafar@hotmail.com please reply me please
its a great deal that now our qualification is also recognised by hec and equivalent to masters. i am glad im an acca student, which is in rea a global qiualification
This is awesome… still i want to know the source too?
Thats a great newss,…..
Well,If its true thats awesome but does that decrease the worth of Oxfor brooks Bsc degress fir us pak students now? Shouldnt I go for it now?
that’s gud decision,
Nw assosiates of C.Acntnts cld cnsntratrate on thr stdy much,
Thnx ACCA & HEC
A nice and well-demanded step by HEC. hope it will help the acca students to think about staying “IN” Pakistan, coz after the decision of ICAP (reduction in exemption to ACCA) really dishearted ACCA students…
this is very gooood for US..
Congrats ACCA !!!
CONGRATES ACCA AND THANKS HEC
Please have a link of the press release or any official confirmation of it.
Also provide the source link.
HEC on telephone is not confirming about it.
Really is it true?
I there any other way to conferm this news?
Thats a very good news..but the sad part is that how to verify this news..i found no link on HEC website about this news…can pakistanacca tells its subscribers from where they got this news and to share the source with its followers…thnks
I think it is the fault of Pakistani Education System, Don’t Know what are the political and other factors behind this decision. But as per the Directive No.1.14 issued by ICAP dated 31st December 2010 effective from 1st April 2011, ACCA’s Complete exemption of CA Inter is waived and only few subjects exemption is now granted under this Directive. So what Forces HEC to make ACCA a 15 years education to be equivalent to Master ( 16 years education ).??????????
Dear Munawer,
There was no link available on any of the website so far. We catch the news after Mr. Arif Masud Mirza (Head of ACCA Pakistan) tweeted this on their twitter account.
Although its not confirmed and we spoke will all the high level staff from both sides. We’re covering this article in new details and will assure you that we can get all the possible details before the ‘official channels’ distribute any.
)
Stay in touch – we just uploaded a new article on this
@Saleem Raza Sajid
We can confirm you this news. There is no official link available (which we believe no one can access before Monday Morning). Although you can keep coming back on our website for more updates
@Mansoor Arif
I think ACCA will announce it before HEC. You cannot get any official link before Monday Morning
@Sehar
indeed a very interesting question to raise. We’ll put this in our interview with ACCA policy department. Thanks for the input
@Salman Meer
In this case, we’re the source of news! we break it before the official confirmation. You can get all the official links from Monday morning
@ Admin thanx for liking my question.:) And plz also get an answer to FARZAN’s question if possible since i also came through CAT route to ACCA and cant understand what the exemption statement meant. I will be waiting anxiously. thanx alot
first of all, thanks alot.. i appreciate the efforts of ACCA pakistan
I’m very curious to know whether Masters degree will be offered to ACCA affiliates or we can apply for this after acca affiliation along with the required 3 years work experience
Congratulation to all the affiliates…
I don’t think the exemption statement means the way u guys are thinking….
It is a bold step from HEC of Pakistan.
congrats to all acca’s
ans to farzan
bro it simply means that part qualified students will not be considered means a student who is not an affiliate.
I believe this as not a very good step on the part of HEC . The reason being the following
Suppose there are approx 5000 acca members in pakistan so to issue degrees to all of them is one difficult administrative issue
Secondly it will discourage the value of MCOM students who for some financial reasons may not be able to study acca and take 2yrs regular classes in their universities
Thirld it will overall reduce the value of MCOM degree as so many of new members will be joining them
hmm,thats a really very gud news….but let me confirm that is it necessary to become a member to avail this recognition…
thanks
I have same issue as FARZAN and SEHAR . I am too came through CAT to ACCA. Second issue is i start CAT after Matric is this mean i am not eligible for the Masters Degree Unless i pass intermediate or this means if even i pass intermediate now i could not claim Masters Degree. waiting for ur replay
My entry route towards ACCA is:
O Levels> CAT> ACCA
Also; I am member of ACCA.
Am i eligible to claim this Masters Equivalency?
well this recognition by hec will defame the degree n its worth.. acca has much more worth then a local mba. hec is a stupid organisation.
@Zain
Please check our other article where we cover the issue with ACCA affiliates and other related issues
@Syed Gohar Raza (ACMA)
Thanks for your input. We’re adding your question to our list to raise it in front of ACCA senior level staff in coming interviews. If you have further views and like to share your thoughts, please feel free to contact us
@Farzan
We get your answer. Please stay in touch for our new article where we answered this question with others
whether we r elligible after o levels for this degree. as after that i have done CAT.. reply plz
Hi. I have done my o’levels, then 5 papers of CAT and now I am in the professional acca papers. Will I qualify for this degree after my ACCA qualification?
Thanks for all the help.
and congrats ACCA!
Hi. I have done my o’levels, then 5 papers of CAT and now I am in the professional acca papers. Will I qualify for this degree after my ACCA qualification?
Thanks for all the help.
and congrats ACCA!
Dear Sir,
I have done CAT after Matric and after that i have done ACCA.
Am i eligible to claim this Masters Equivalency after becoming ACCA Member?
Thanking you in advance for a prompt reply.
Regards,
Muhammad Umar
This news has made me happy !!!
Thanks ACCA for this good news
Regards,
Muhammad Mustafa Godil-(ACCA Finalist)
AAJ TV-Business Recorder Group
Thats a great News.. and guyz i think most of you are thinking completely irrelevant… by M.Comm they dont mean that who complete his ACCA will also be provided with M.Com ofcourse M.Com has its own Value but the thing is ACCA will be equivalent to any Masters Program.. i think it will be for MBA too.. and as far as exemption is concerned they said that you have to be a member of ACCA.. ACCA affiliation is different and Membership is completely different which is a very difficult and long term task to complete.. because of 3 year Work Experience and Performance Objectives.. So, in order to be equivalent to Masters Degree Program you have to be a member .. which you will be at the age of like 28 years plus
..
Some guys said that it will defame the degree and its worth .. or ACCA is better then local Masters.. DUDE they did it.. only for those students who are’nt getting jobs in Pakistan because of their Certification.. Because ACCA has great worth but still it’s just a Certification like CA.. but there are manyyyy Companies in which there policies are that they have to employ people who’ve done Only Bachelors or Masters.. without any exception.. so if that point is considered than i would say ke HEC has made a Great Decision.. and the main thing is that THEY SHOULD IMPLEMENT IT SERIOUSLY
!!
@Saher OBU Degree’s worth is completely Different.. its only for those who want to move anywhere else from Pakistan Specially Europe.. because OBU is recognised from there.. if you are thinking for Job in Pakistan.. (Dont Go for It, its Worthless !! ) and if any other country.. then Go for it blindly.. !!!!
@Zain it will not be offered for free ofcourse.. !!! you have to apply for it.. but i would say Who cares for Masters if you are already a Member of ACCA :s… !!! to be an ACCA Member is one of the Dreams of Students.. and after that CFA, CPA or CIA are great options.. why bother doing MBA or M.Com from any Local Universities. :s.. ?? and as far as good universities are concerned.. like IBA, CBM or Bahria i dont think they will provide degrees that easily. even you’ve applied for it too.. so you have to complete like 2 or 3 modules in order to get MBA (Thats what i think.. :S.. Ofcourse everybody here have their own views..)
So, Best of Luck Guyz… Hope you guys pass all your exams in 1st attempt and with Good numbers.
Thank you HEC and ACCA
My issue is that i started CAT/FIA after metric and i have to do ACCA also will i eligible for Master’s Degree from HEC even if i got BSC.Hons Degree from Oxford Brookes University!
Plz rply me as soon as possible
does this apply to affiliates or members??
can u plz tell me what type of experiance is required for acca membership
just common or one has to work in audit firm or under any charterd accountant . . .
is fsc is compulsory for it , what about those who have joined acca after doing CAT after matric or O level
howz the m.com gpa will b calculated , will the marks got in acca papers will matter . . .
it can’t be therefore its a fake news !!
This is great news for ACCA student
THANKS ACCA
thats really a gift to ACCA student thanks Allaha …………….,