CA Students Protest Against ICAP’s Unfair Treatment

Chartered Accountancy (CA) students in many cities across Pakistan have gone on a strike against Institute of Chartered Accountants of Pakistan (ICAP).

Laying out the demands, a representative from the protestors asked the ICAP to act on the following points.

  • Raise the minimum compensation from Rs. 11,700 to Rs, 20,000
  • Normalize the work hours as graduates are forced to work 11-12 hours per day.
  • Regulate the fees charged by institutes.

CA students in Pakistan have to fulfill the requirement of 3.5 to 4 years of articleship at an accounting firm as part of their degree. The stipend for articleships is quite low at Rs. 11,700. Studying alongside, giving fees for the papers and enduring long hours has proven to be a burden on students, who are now calling for action from ICAP.

“ICAP calls itself a non-profit but it has increased fees by over 200% over the last two years and stipends etc are the same. How is this fair?”, said a CA trainee.

Another trainee said, “ICAP needs to reduce the length of articleships. We have to go to external audits, sit at an office all day and wear suitable clothing as well. Bearing all these expenses for years while getting a subpar stipend isn’t possible for poor students.”

  • They should blame those who led them down this path. Their parents, teachers and peers who advised them to take up this career and most of all themselves for believing them. It is because there is massive demand for ICAP qualifications that ICAP can charge so much.

  • This is very pathetic situation for CA Trainees as working in firms from 9 to 6 occasionally and 9 to 8 for just Rs 11,700 at the stance of providing training etc. It is just there tactics as they use the maximun time of the students for their own revenue and other office clerical work. As mostly firm not employed permanent staff for the clerical work. What we can learn in articleship by going to getting copies and other work which is such a bullshit and ICAP the monoplist on care about their revenue as non profit organization. Also want to add the training provided to deals and arranging out of the law arrangements tactics i.e Bribery which is on priority…..

  • Its very true…not hasad.. working all the day at subpar stipend rate is very difficult for all the trainees.. moreover training period is so long .. in which a trainee learns nothing than becoming a labourer for the firms carrying out clerical works n copying pasting.. 4 years is such a long duration

  • All these professional institutions are doing this lame strategy to earn more n more money. They are playing with the future of students. Specially ICAP & ICMA.
    FGS do something for youth.

  • The worst part about this scenario is that we student never get any official response from ICAP and as this is a self regulatory body it doesn’t come under jurisdiction of any other educational authority like HEC therefore it seldom feels the need to clarify itself.
    When we compare stipend rates with the rest of the world we are below even from the lowest accepted standards, for comparison in the UK a tax/audit associate who is a student of ICEAW like the ICAP, receives around 19000 £Gbp per annum which in comparison to our 12000rs per month is a tremendous amount.
    Another thing about the current situation is that ICAP is not even willing to give it’s student the basic human right of the minimum wage level which is set to 15000rs per month in pakistan.
    Student fear the possibility of being disqualified from the institute which makes matters even worse.
    We students understand that this is a prestigious qualification but putting undue hardship on the students won’t make it any better.
    I hope someone takes notice of this situation and things would get better over time.

  • It was a protest not a strike. Secondly their demands are excessive compared to the work they perform. Examination fee charged by ICAP has nothing to do with stipends.

    As a Chartered Accountant, I have been through the process. The long working hours alongside work pressure at firm makes you the person who can fetch minimum 150K a month after qualification. Members of accounting bodies with no requirement of articleship usually end up with 25k to 70k a month.
    In short these kids want to earn like a Chartered Accountant without working like one. Focus on your exams and pay attention to your work. You want something easy in life, join another profession.

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