CA -|- Chartered Accountants Thread

[maryfarrukh]

Thanks What I need to do in order to get in big 4? how much a CA trainee is paid there?

If you clear AFC & CAF in 4-7 attempts you can apply into big 4 but the rest depends on interview. Now a days they usually look for communication skills in interview.

Stipend rate for CA Inter (CAF) passed is Rs 9600.

For Ferguson' test in Lahore office, they called for only the latest two FTS batches for written test. About 85-90% students were FTS-11 and FTS 12 plus ACCAs and LUMS Graduates. Normally they would call almost all the students who have applied for at least the written test and then select from them but this time they didn't even bother calling all the students.

 

[Black Pnather]

Hi guys ..
Background: ACCA Affiliate (1st Attempt), MPA (Finance), Diploma in banking JAIBP .. 1.5 year experience in Financial Reporting in banking sector and now working as a ACCA Trainee in a FMCG multinational Company.


Want to do ICAEW


Advice seek from professional working in audit firm or industry weather to take contract from a multinational company like shell, ICI or from a local company or will I take contract from firm as fortunately now I have now reference in AFF N KPMG but considering my age 25 years unfortunately I didn't have any reference when I qualified my ACCA neither do I have rec any call for written test from any Big 4 which is a bitter & Immutable truth.

Basically I want to know the pros of having ICAEW contract in both sectors and how much do firm offer to a ICAEW trainee as I have hear that one can get 25-30 k in industry on ICAEW contract plus also discuss from experience point of view.

 

[Xain47]

What is the importance of communication skill developement course? Does it holds any value?

 

[Hassan Aftab]

@alamode @saadleo [MENTION=26337]Ahmed Zamir[/MENTION] [MENTION=20276]Rflame[/MENTION] Been a while since I posted here. I hope you're doing well.

I have recently starting my 3-month internship at KPMG Islamabad with two ACCA papers left. I have been assigned an audit client where a team of seniors has been working for the past 3 months now but I have found audit to be rather monotonous and boring (event though I have merely played the role of an observer for the most part).

Given my lack of interest in numbers, I was wondering if Advisory in EY or KPMG could be a better position to aim as I apply for articles in June/July. I don't suppose you would suggest getting into tax at all. If so, which branch/es of advisory would you personally suggest getting into and why (I noticed there is more than just one).

I've been conflicted on dedicating the next 3 years to one of the big 4 that guarantees minimal stipend and relatively slow pace of growth or try and secure a place in the industry straightaway with 3 months of internship from one of the big 4 showing on the CV. Perhaps, a Management Trainee Officer program in reputable companies could prove equally beneficial.

Also considering pursuing CIA to complement a role in consulting/advisory/internal audit.

Your take on the matter in light of your experience and knowledge would be highly appreciated.

 

[Pakiyoungster]

@alamode @saadleo @Ahmed Zamir @Rflame Been a while since I posted here. I hope you're doing well.

I have recently starting my 3-month internship at KPMG Islamabad with two ACCA papers left. I have been assigned an audit client where a team of seniors has been working for the past 3 months now but I have found audit to be rather monotonous and boring (event though I have merely played the role of an observer for the most part).

Given my lack of interest in numbers, I was wondering if Advisory in EY or KPMG could be a better position to aim as I apply for articles in June/July. I don't suppose you would suggest getting into tax at all. If so, which branch/es of advisory would you personally suggest getting into and why (I noticed there is more than just one).

I've been conflicted on dedicating the next 3 years to one of the big 4 that guarantees minimal stipend and relatively slow pace of growth or try and secure a place in the industry straightaway with 3 months of internship from one of the big 4 showing on the CV. Perhaps, a Management Trainee Officer program in reputable companies could prove equally beneficial.

Also considering pursuing CIA to complement a role in consulting/advisory/internal audit.

Your take on the matter in light of your experience and knowledge would be highly appreciated.

are big 4 still providing 3year contracts to ACCAs?

 

[Hassan Aftab]

are big 4 still providing 3year contracts to ACCAs?

As far as I know Ersnt and Young and KPMG have recently started to offer it to ACCA affiliates. It's still not as common as in the case of CAs, though. I am counting on the internship I have pursued to give e a little bit of an edge in that regard. I might even look for another in EnY before pursuing a training contract.

 

[Ahmed Zamir]

@alamode @saadleo @Ahmed Zamir @Rflame Been a while since I posted here. I hope you're doing well.

I have recently starting my 3-month internship at KPMG Islamabad with two ACCA papers left. I have been assigned an audit client where a team of seniors has been working for the past 3 months now but I have found audit to be rather monotonous and boring (event though I have merely played the role of an observer for the most part).

Given my lack of interest in numbers, I was wondering if Advisory in EY or KPMG could be a better position to aim as I apply for articles in June/July. I don't suppose you would suggest getting into tax at all. If so, which branch/es of advisory would you personally suggest getting into and why (I noticed there is more than just one).

I've been conflicted on dedicating the next 3 years to one of the big 4 that guarantees minimal stipend and relatively slow pace of growth or try and secure a place in the industry straightaway with 3 months of internship from one of the big 4 showing on the CV. Perhaps, a Management Trainee Officer program in reputable companies could prove equally beneficial.

Also considering pursuing CIA to complement a role in consulting/advisory/internal audit.

Your take on the matter in light of your experience and knowledge would be highly appreciated.

Audit is actually a seasonal job and you have to perform just audit procedures only that's why it might seem boring to you. Audit doesn't require critical thinking and mostly auditors just try to wind up the work, which is commonly called "Pailna" in audit firms.

On the other side, advisory is opposite to audit. Your work will differ with every assignment and will involve your individual thinking and that's why advisory may seem interesting to you.

If you want to pursue career in Advisory then join EY because they have the best Advisory Department currently in Pakistan and as far as I know, Transaction advisory has the broadest scope amongst other advisory services. But keep in mind two things that firstly you can only get job in firms as companies don't usually need a full time adviser and secondly you might have to move to Karachi because there might not be as much clients in Islamabad as there are in Karachi.

If you ask me I would advise you to join Internal audit department as in IA you will also advise the management apart from performing the audit.

 

[Ahmed Zamir]

What is the importance of communication skill developement course? Does it holds any value?

The course itself can't add any value unless you prove your communication skills during the interview.

 

[Hassan Aftab]

Audit is actually a seasonal job and you have to perform just audit procedures only that's why it might seem boring to you. Audit doesn't require critical thinking and mostly auditors just try to wind up the work, which is commonly called "Pailna" in audit firms.

On the other side, advisory is opposite to audit. Your work will differ with every assignment and will involve your individual thinking and that's why advisory may seem interesting to you.

If you want to pursue career in Advisory then join EY because they have the best Advisory Department currently in Pakistan and as far as I know, Transaction advisory has the broadest scope amongst other advisory services. But keep in mind two things that firstly you can only get job in firms as companies don't usually need a full time adviser and secondly you might have to move to Karachi because there might not be as much clients in Islamabad as there are in Karachi.

If you ask me I would advise you to join Internal audit department as in IA you will also advise the management apart from performing the audit.

I really appreciate your input, Ahmed. Your post does bring a few questions to my mind that I'd like to ask if I may.

Are transaction advisory and Internal Audit two different departments?

Isn't transaction advisory one involving a whole lot of number-crunching like Financial Reporting and tax? In that case, which other department within advisory might be the next best one?

Wouldn't joining Internal Audit mean that companies would be more likely to hire me as a permanent employee and I wouldn't really have the only option of joining a firm instead? I hear that banks and a number of different companies often have assignments for people in advisory so it's not just an internal audit affair.

Could you comment on the amount of learning if I pursue this department in a firm?

In light of all that, would you still suggest joining a firm or should I pursue a 3-month internship in that department with, say, EY and then apply to some company rather than getting tied to a 3-year contract with firm?

 

[Xzan23]

@alamode @saadleo @Ahmed Zamir @Rflame Been a while since I posted here. I hope you're doing well.
Your take on the matter in light of your experience and knowledge would be highly appreciated.

Congratulations on the Internship! Choose wisely man. Wherever you go, you'll most definitely have to deal with repetitive work. Audit, Advisory, ERP etc. EY Lahore recently had an Advisory assignment to count the Bottle Caps of a Multinational Company product throughout their plants in Punjab. They hired 25 ACCA interns for the assignment lol. And on the other hand they have some very excellent advisory assignments as mentioned above. Every service line has its ups and downs. You have to find a line you are comfortable with.

 

[Hassan Aftab]

Congratulations on the Internship! Choose wisely man. Wherever you go, you'll most definitely have to deal with repetitive work. Audit, Advisory, ERP etc. EY Lahore recently had an Advisory assignment to count the Bottle Caps of a Multinational Company product throughout their plants in Punjab. They hired 25 ACCA interns for the assignment lol. And on the other hand they have some very excellent advisory assignments as mentioned above. Every service line has its ups and downs. You have to find a line you are comfortable with.

Thanks for your response, Xzan23. That's the problem actually. I really can't decide which department would really suit me since I hardly know each in much detail. Then there's always the question of whether I stick to a firm for the next 3 years or look for a job, perhaps starting with an MTO, in the industry.

Let's just say I am utterly confused about the prospects here.

 

[bilalhidayat]

CA/ACCA students in Pakistan think too much. Concentrate on your studies. Don't worry about jobs. Do the mandatory training at firms (preferably). And you know what, it really doesn't matter what firm do you work for, there'll always be a competition in job market. Sustenance is with God, not with firms. Everyone gets job eventually.
Bilal (ACCA member)

 

[Xzan23]

Thanks for your response, Xzan23. That's the problem actually. I really can't decide which department would really suit me since I hardly know each in much detail. Then there's always the question of whether I stick to a firm for the next 3 years or look for a job, perhaps starting with an MTO, in the industry.

Let's just say I am utterly confused about the prospects here.

Well then the confusion is all up to you to clear my friend. Take your time over the period of this internship to figure out the service line or industry you want to pursue and also keep in mind the supply of fresh ACCAs is wayy more than the demand so you might not get into your ideal Firm/Company/Job at this initial stage. So carry out extensive research, carry out a cost/benefit analysis and choose wisely.

 

[mohammadyahya]

Guys, help me here:
http://www.pakgamers.com/forums/showthread.php?t=219053

 

[Retroactive]

Dude the best place to get info is The Institute of Chartered Accountant of Pakistan

 

[saadleo]

Sorry for the last response guys. I have been busy lately. As far as the induction of ACCAs is concerned, it's still a no go in PwC Islamabad. They are only being hired for short term internships (1-3 months).

 

[poakceor]

Guys i need help in pursing something forward that will enhance my skill and increase my value.
I am Qualified CMA (ICMAP), so i want to pursue another certification or maybe a MBA.....
1. ICAP (Can't get full exemption cause i got admission in ICMA on the basis of b.com and took 2 papers exemption as well in ICMA)
2. ACCA : is it really relevant and preferred?
3. CIMA(UK) : have to be an ACMA (3yrs exp) for that
4. CMA (USA) : why the same qualification? same goes for CIMA
5. CIA (IIA) : can't register cause they have changed their policy for eligibility requirements
6. Mba (IBA) : need 2 years industry exp for admission
7. MBA (others) : I heard they are not that good and not worth it

Currently i am working in an audit firm

 

[Umer94]

Guys, I need some help regarding the selection of RAET for the preparation of CA(AFC) exams. I did some research and I've narrowed it down to three. Al-hamd, Tabani and CAMS, I've put a lot of thought in it but I can't decide which one to choose out of these three institutes. So, if any of the members on here who've studied at any of the mentioned RAET's could assist in making my final decision, it'd be highly appreciated. Thanks.

 

[annas92]

Guys, I need some help regarding the selection of RAET for the preparation of CA(AFC) exams. I did some research and I've narrowed it down to three. Al-hamd, Tabani and CAMS, I've put a lot of thought in it but I can't decide which one to choose out of these three institutes. So, if any of the members on here who've studied at any of the mentioned RAET's could assist in making my final decision, it'd be highly appreciated. Thanks.

tabani's.....

 

[Ahmed Zamir]

Guys i need help in pursing something forward that will enhance my skill and increase my value.
I am Qualified CMA (ICMAP), so i want to pursue another certification or maybe a MBA.....
1. ICAP (Can't get full exemption cause i got admission in ICMA on the basis of b.com and took 2 papers exemption as well in ICMA)
2. ACCA : is it really relevant and preferred?
3. CIMA(UK) : have to be an ACMA (3yrs exp) for that
4. CMA (USA) : why the same qualification? same goes for CIMA
5. CIA (IIA) : can't register cause they have changed their policy for eligibility requirements
6. Mba (IBA) : need 2 years industry exp for admission
7. MBA (others) : I heard they are not that good and not worth it

Currently i am working in an audit firm

I would suggest you to go for MBA (IBA)