ICAEW in Pakistan
I have asked by a number of students mostly ACCA affiliates whether they should go for ICAEW exams and what are the associated benefits. Well, summarizing my opinion in nut-shell I would prefer that students / trainees do take ICAEW exams, its worth having ICAEW qualification.
There are numerous benefits associated with doing ICAEW;
It is a chartered qualification and is well recognized all over the world not only in UK.
A comparison of the salaries offered reveals that ICAEW is ranked 2nd most after CPA (USA). It is true even in Pakistan where I have encountered several instances where ICAEW qualified trainees (3 years experience) are being paid equivalent to CA.
ICAEW exams are not as much tough as they seem, all you need is to manage time pressure of the exams. Time management can only be achieved through doing as many practice questions as possible. Just try to reduce your time over reading and allocate more time to planning and structuring the question.
The longer you take, the lesser or difficult will be benefits available as time is money. If you really want to opt for ICAEW just do it and do not wait as (for ACCA affiliates) your previous studies will help you a lot in passing ICAEW exams.
What is Tested in ICAEW
The type of questions tested in both Business reporting and Business Change pertains mostly to due diligence assignments, mergers, disposals & acquisitions, and (for audit questions) covers review of working papers of junior staff .
How accounting experts see market in Pakistan:
It is astonishing that despite increasing mounts of inflation and crippling economy in Pakistan, experts see Pakistan markets as one of the thriving and comprising greater potential in the near future compared to the most developed nations. The very aspect is expressed in ICAEW magazine (Economia) by Amy Duff;
“According to expat Heather Carreiro, there is a big market in Lahore for qualified professionals. Many educated Pakistanis leave their country to settle in West, which leaves a lot of room in the market for those with experience and education. ———————————————Qualified foreigners can afford a higher standard of living in Lahore than in many North American or European cities. (Economia -Issue 6 July 2012).