Moalims

The Association of Chartered Certified Accountants has launched a new digital product, ACCA X, which enables people to try the qualification for free. It is accessed through digital media and available on smart phones and tablets. ACCA is offering greater value for students when it comes to pursuing the qualification, said Head of the association's Global Delivery, Richard Staunton, while talking to Business Recorder during his recent visit to Pakistan.

"We have made ACCA X easily accessible for people in rural communities, where there is no infrastructure, to sample accountancy in its most basic form. Recently, we have launched a new rate card under our pricing platform for students of ACCA," Staunton said. He also said unlike all the other finance qualifications, where the prices go up every year, we have reduced our prices. We believe this is necessary due to the changes in the economic environment considering the currency fluctuations over the last 5-6 years. This is to reduce restrictions for aspiring certified chartered accountants that feel the cost is prohibiting. This is a permanent change from here on forward so that aspiring accountants can afford to continue.

About the greatest challenges being faced by accountancy sector, he said, "One of the greatest challenges facing the accountancy sector is the speed at which it takes to become a really skilled, highly qualified accountant. There is no shortcut. Although accountants are benefiting from parallel learning with the association, that is they can pursue a local degree and the association qualification together but it can take up to 5 years for them to qualify as an accountant. There is an excessive demand for these accountants but the challenge is to accelerate the supply without diluting the quality of that supply."

On the question of trends that shapes the association's future over the next decade, he said, "Technology will enhance the experience of learning by not only breaking the restrictions of geographical boundaries but also provide access to unlimited resources of the association. This will increase the efficiency of student progression. The second development would be specialist qualification based on a generic globally recognised platform. That means that the association's accountants will not only be globally certified, but also have specialisation in oil and gas or in financial instruments. Therefore, there is that type of industry specific level of detail which needs to be incorporated into this level of qualification, which something like the association is delivering.

"Employers around the world, especially in progressive economies such as Pakistan are looking for students who have a professional qualification with a certain skill set. A simple degree is no longer lucrative enough for employers as the competition in education is increasing in Pakistan. We have recognised that and are working in close proximity with universities and learning providers and strategic education institutions. We work together to deliver more rounded, more qualified, employer ready student. I have seen the willingness of education providers for progress and integrate professional qualifications within academia.

"The association works towards developing complete finance professionals who are supported, trained, examined and regulated to the same high standards globally. This ethos ensures that Pakistan's accounting talents trained through the association qualification are truly global the minute they have completed their examinations and have qualified as members.

"The qualification is not only globally portable, it is also genuinely flexible. It allows its members to step into careers in any business sector. The association also understands the importance of supporting its members in their career ambitions. Our members, both here in Pakistan and abroad are well versed about international financial reporting standards. They can help improve functioning of the capital markets by using a common basis for financial information or a common accountancy language. They are able to facilitate cross-border trade on the same basis. And they are also able to streamline the accounting for businesses operating in several countries. "One of the biggest benefits of being a member is that there are so many other association members to connect with. Every year we organise thousands of events and courses world-wide with the opportunity for our members to learn as well as meet with like-minded people".

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