Dear Mohsin
First of all whenever we started to discuss any topic we should discuss it with open mind approach and with professional ethics in mind. Question can be of any type whether mature or immature. . .Ok ? ? ? ? ?
I have enormous experience in the field. Now a days it is very prevailing and hot topic to launch criticism on CAs and members forgot that CMAs have different field of competencies and instead to compete with CMA (UK) we started to compare with CA. . . In UK I didnt see any type of comparison made by CMA with CA. We are claiming right to do cost audits instead to focus on the core competencies of CMAs that is management role in costing, budgeting etc.
CAs are now competing us in the field of management role of organization and what are we doing ? ? ? ? ? ? ?
Most of the big organizations are now hiring CAs for their budgeting, management reporting, and financial analyst activities
Pakistan law already had given right to do cost audits to CAMs there are no restrictions on it. CMAs can conduct cost audit . . . . . Public limited company will not put their trust CMAs on cost audit they will always go for big reputable Audit firms that we are lacking. We are talking about big organizations for cost audit, now these organizations are restricting even their management jobs to only CAs & ACCAs. They signed many MOUs with them. What we are doing for members here ?
There is one news i want to share., . . . i hope you are aware of it. . .ICAP now not consider CMAs eligible to claim exemptions in the paper of audit. . . and it is approved. What action did we take on the ICMAP's directorate level ? ? ? ? nothing . . . .
To: accountants_forum@yahoogroups.com; finpros@yahoogroups.com; samreen_cma@yahoo.com
From: mmy_mohsin@yahoo.com
Date: Mon, 11 Jul 2011 23:20:57 -0700
Subject: Re: [accountants_forum] Rights COST AUDIT Authority
Dear Mr. Farhan
If you have good practical experience in field and good knowledge of Pakistan economy and trend, then you would not ask this kind of question. The answer of your immature question is that, if Pakistani law can give authority to only graduates to conduct external audit of public limit company without capital limit, then i guarantee you that, you will find maximum numbers of graduates audit firms, more than chartered accountant firms with high competition with them.
Answer of my another friend who were not still understand that why cost and management accountant strive hard for their right of cost audit instead of concentrating on management accountancy; then the answer is that job of management accountancy is a open field, as i know some good CA qualified, doing the same job, and some graduates in small firm doing same efforts in their organizations. Another suggestion to respected and sincere bodies of ICMAP that, if they would remove the word "COST" from their identity then I guarantee also that no one will accept their importance.
In short, we neither forget our vision, nor want to stand on the position of external auditors. We are hereby just let all to know that, PLEASE recognize the rights of each and every professional, instead of let them down or to force them to leave Pakistan.
Regards
Mohsin Yousuf
From: Farhan Usman <farhan.usman@hotmail.com>
To: accountants_forum@yahoogroups.com
Sent: Tuesday, July 12, 2011 4:13 AM
Subject: RE: [accountants_forum] Rights COST AUDIT Authority
Dear Friend
Before making any comment on the raised issue . . I want to ask one question from you and all who are interested.
Can any one tell me how many Cost Audit Firm do we have in Pakistan registered with ICMAP ?
ICAP have more than 500 CA firms (who obtained practicing certificate from ICAP) . . .
Your answer is more valuable to me
Regards
To: FinProS@yahoogroups.com; ManagementAccountants_Forum@yahoogroups.com; accountants_forum@yahoogroups.com
From: samreen_cma@yahoo.com
Date: Mon, 11 Jul 2011 08:46:09 -0700
Subject: [accountants_forum] Rights COST AUDIT Authority
Before making any comment on the raised issue . . I want to ask one question from you and all who are interested.
Can any one tell me how many Cost Audit Firm do we have in Pakistan registered with ICMAP ?
ICAP have more than 500 CA firms (who obtained practicing certificate from ICAP) . . .
Your answer is more valuable to me
Regards
To: FinProS@yahoogroups.com; ManagementAccountants_Forum@yahoogroups.com; accountants_forum@yahoogroups.com
From: samreen_cma@yahoo.com
Date: Mon, 11 Jul 2011 08:46:09 -0700
Subject: [accountants_forum] Rights COST AUDIT Authority
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