Re: [accountants_forum] Re: COST AUDIT Authority

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Dear all,

I have seen various ACMA's ACCA's and other professional criticizing ICAP and Audit Firms for there monopoly and their superiority. I really appreciate that other professional are trying to compete Chartered Accountants. I acknowledge that our ACMAs & ACCAs are also high level professionals and it is really tough to qualify from ICMAP and ACCA. But most respectfully to all professionals, we are living in an age of competitive world. If you want an equal or above standing than CAs then try to get it from improving qualification standard of ICMAP r ACCA far above than CA. Arrange forums & trainings, develop some cost management organization similar to audit firms, providing assistance in cost & business analysis and be innovative rather than just seeking a legal cover. CA have proved themselves to be worth of superior than other qualifications through hard work of several years and I am sure that reputable organization like ICMAP and ACCA can also do this. Their is a need of structural changes in ICMAP. Once you implement these changes I am sure that SECP would itself recommend recognize ACMA and you never that time come that ACMAs left CA far behind in professionalism and career growth.

Hope my suggestion would not hurt feeling of my professional and would try to understand my view with a positive thinking. Please do remember that we all are professionals and have to play our role in development in our nation.

Furthermore, I am in strong disagreement with Mr. Malik as Pakistan lacks specialized people. Even we Chartered Accountants got further specialisation in various industries and different divisions in same industry. Finance is a vast field and needs to be even more specialized so that they can take part in Pakistan progress.

Last but not the least, in Pakistan's economy finance professionals are the most underrated persons. There are lot of areas where finance professional its role. Infact in current cost competitive environment their is a need of finance in professional in every part of business. So I further recommend that we should try to educate business professionals and entrepreneur about value addition we can give to the business outside the finance division. Our broad knowledge of integration of all divisions along with understanding of business functions could really be helpful in business analysis, supply chain, business process re engineering and other functions similar to that.

Wish you a very good future.


Regards,



Asghar Omair
- ACA
Manager Finance
New Allied Electronics
Mobile no         :   03453097239
                             03338222625
Land Line no.   :   111545454 (133)
email address   :   asghar_omair@hotmail.com

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