Maybe someone you know is a financial manager, accountant, financial analyst, entrepreneur and they are telling you that becoming a CA is the way to go in Pakistan – but you’re still unsure. Let’s consider some points that may help you make a decision:
Some times students confused in thinking that what really Chartered Accountant means? I have a post with complete illustration for you that answers for your every question .
Complete detailed post on What’s really a Chartered Accountant means or what’s CA?
Highly Rewarding Jobs
Chartered Accountancy is a highly rewarding field in Pakistan. Not only are our ambassadors earning the highest salaries in the market but also high level prestige and respect. Salaries of other professionals generally end where the salaries of Chartered Accountants start. Additionally as auditors you would be expected to offer a number of accounting and audit solutions, implement standards and practice business ethics that fuels your self-respect.
Top Management bodies
Unlike yesteryear’s when Chartered Accountants were considered as backroom clerks with their heads buried in the books of accounts; today our professionals are leading the market as front line managers. The incorporation of the technical and management skills in both our academic and training curriculum has brought Chartered Accountancy out from behind the stage to the front as CFOs, CEOs, Company Secretaries and Department Heads.
Chartered Accountancy is marking its own borders. You study here and practice your qualification in any country of the world. Currently 24% of our Chartered Accountants are setting examples of best professional practices in 35 countries of the world. Even switching organizations is frictionless so you may start in the public sector or business and later join any banks, financial institutions or trade.
The true essence of the Chartered Accountancy qualification that sets us apart and adds value to our qualification is its well regulated training program; that allows a student to learn and implement his knowledge at the same time.
i) Auditing is different to accounting. Once you have passed CA inter, you are required to do 3.5 years of practical training before you qualify as a CA (you can work and study at the same time, but I will not speak about that option here). Those years are typically spent auditing and you get paid to do so.
ii) What is auditing? The Financial Manager of a company prepares the financial statements. They need to be kept honest as they clearly have a vested interest – good profits mean that they keep their jobs and get paid fat bonuses. For this reason they are required, by law, to be audited (i.e. the “score” that they present needs to be checked by an independent group of people – the auditors). This independent group of auditors will arrive at the company and will check that the financial statements prepared by management accurately represent the performance of the company. So your three years of articles with an audit firm is three years of working as an auditor – visiting different companies and checking that what they did was correct. You can choose to not spend those three years auditing but rather working for other accredited firms involved in retail, banking and government. There are a wide variety of options here and if you explore the ICAP website you will find out all the latest information.
iii) You don’t actually perform all the grunt work of processing debits and credits (the client staff would do that). As a trainee you must simply understand what is being done so that you can check that it is being done properly, but not so that you can actually spend all day doing it yourself. That is why bookkeeping at school can give you the wrong impression!
iv) If you use your three years wisely, you will be granted access to a diverse array of businesses and learn how they operate. Management has to explain their performance to you and in doing so, you can acquire a fantastic business education. How many people straight out of university can gain three years of solid experience like this?
CA Qualification is Equivalent to M.Com in Pakistan
Every CA qualified is also the M.Com degree holder.The Higher Education Commission of Pakistan has accepted the Chartered Accountancy qualification as equivalent to the degree of Masters in Commerce. So all our candidates with dreams of studying further in specializations may do so on such basis.
Rapid Growth in Accountancy Profession
The field of Chartered Accountancy offers rapid growth to its professionals. With the increase in economic activity, the demand for Chartered Accountants is increasing in all market sectors may it be industry, trade, financial institutions or banks; even in sectors like education and social welfare our ambassadors are setting unique practices of integrity and professionalism.
CA as a Business Qualification
Initially Chartered Accountants were believed to be experts with knowledge of only accountancy and audit but their scope in business has now been changed. The Institute has tailored its syllabus to incorporate a combination of technical and management skills, keeping in view the latest developments in the accounting profession worldwide. Thus our professionals are not just experts in the fields of Accounts and Audit but are also well-aware of the latest business practices in the fields of information technology, law, tax, marketing, human resource management etc.
Most Economical Qualification in Pakistan
The Institute offers the lowest admission costs. Not only this, but during Chartered Accountancy students join training and are paid stipend that serves as a decent pocket money so that at the end of the day the student may incur his own expenses.
So one fine morning it suddenly dawns upon you that being an employee is not your cup of tea. Well, your route is very simple! You can open your own practice and be your own boss!