The Lahore High Court Thursday allowed students of Association of Chartered Certified Accountants (ACCA) to gain professional training experience in accounting firms/training organisations established in Pakistan.
However, the court held that preference would be given to students doing local qualification of Institute of Chartered Accountant of Pakistan (ICAP).
Justice Abid Aziz Sheikh passed the orders while disposing of a petition filed by ACCA professional Safwan Salim challenging ban on ACCA students from getting training at organisations registered with the ICAP.
During the hearing, the petitioner’s counsel Shiraz Zaka submitted that ICAP had been exploiting its regulatory powers to attract students and damage the market share of other certifying bodies, like ACCA.
He said that ICAP, in July 2012, issued a directive ruling that students doing non-ICAP qualifications, like ACCA, would not be able to get training from any accountancy firm approved by the institute. He said there should be a level-playing field in accountancy profession.He pleaded the court to set aside the directive.
Higher Education Commission’s counsel submitted that both the qualifications of ACCA and the ICAP were equivalent to masters.
However, the court held that preference would be given to students doing local qualification of Institute of Chartered Accountant of Pakistan (ICAP).
Justice Abid Aziz Sheikh passed the orders while disposing of a petition filed by ACCA professional Safwan Salim challenging ban on ACCA students from getting training at organisations registered with the ICAP.
During the hearing, the petitioner’s counsel Shiraz Zaka submitted that ICAP had been exploiting its regulatory powers to attract students and damage the market share of other certifying bodies, like ACCA.
He said that ICAP, in July 2012, issued a directive ruling that students doing non-ICAP qualifications, like ACCA, would not be able to get training from any accountancy firm approved by the institute. He said there should be a level-playing field in accountancy profession.He pleaded the court to set aside the directive.
Higher Education Commission’s counsel submitted that both the qualifications of ACCA and the ICAP were equivalent to masters.
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