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Job market for accountants thrives on private sector

Country manager for ACCA Bangladesh talks to The Daily Star

Star Business Report
THE job market for certified accountants is getting bigger day by day with a rise in private sector business. Every firm --from auditing to accounting, manufacturing, trading and what not — needs an accountant to carry out day to day business. Also, accounting is becoming a global profession meaning that a certified accountant can work anywhere in the world.
Consequently, accounting as a profession is increasingly getting attraction of students in Bangladesh. The Association of Chartered Certified Accountants (ACCA), which is a UK-based global body for professional accountants, launched its services in Bangladesh in 2009 to help students become certified accountants.
Within three years of operation here, ACCA Bangladesh gets over 8,000 students registered with it. Already more than 200 Bangladeshis have become certified accountants through ACCA Bangladesh. Of them nearly 150 have migrated to foreign countries, especially Europe, the US and Australia, where they have managed jobs of high payments.
“We are getting huge response from students in Bangladesh. Many of the youths prefer accounting as their careers to others,” Mohua Rashid, country manager for ACCA Bangladesh, told The Daily Star.
She said now student's preference to career is changing. They want to discover their potential and like to take challenge.
Quoting a survey, Mohua said an increasing number of business graduates have raised concern among students that whether
they will be able to compete in the job market or not.
As a result students and professionals are pursuing ACCA regardless of the fact that its global pass rate is below 50 percent and even 28 percent for some courses, she said.
"Pass rate in Bangladesh is well below the global average,” she said without pointing out the exact rate.
It was unimaginable several years ago that students can complete ACCA from Bangladesh. But it came true in 2009. Now hundreds of students are seen appearing for ACCA examination in Dhaka.
ACCA is one of the first quali-
fications in the early 19th century originated in UK. Now it is represented in over 170 countries. ACCA qualifications embed the global accounting education standards set by the International Federation of Accountants.
There is a strong focus on professional values, ethics, and governance in ACCA. These skills are essential as the profession moves towards strengthened codes of conduct, regulation, and legislation, with an increasing focus on professionalism and ethics in accounting.
These are examined at the highest level in the ACCA qualification and are a core element of
an accountant's practical experience.
A student willing to do ACCA courses has to be registered first with its Bangladesh office, said the ACCA country manager. Then the student can take third party tuition for his/her examination preparations.
“There are coaching centres where students can get tuition. We have planned to sign deals with some public and private universities that will carry on this tuition,” said Mohua who has done her graduation and postgraduation on social welfare from Dhaka University.
A graduate or an A level-passed student can get registered for ACCA qualification, she said. People with higher secondarydegree can also do so, but they have to complete a foundation course before entering into the main courses.
“There are 14 courses in total for ACCA qualification and a student can take maximum four courses at a time and minimum two. The average cost for finishing all these courses is Tk 3.5 lakh to Tk 4 lakh,” Mohua said, adding that many students cannot finish courses without break or failure.
She said the examinations are held biannually in June and December.
Mohua said she got interested with highly technical area like ACCA after several years' experience at dealing finance at the British Council Dhaka.
Later she has done a diploma on financial management with ACCA where she studied financial strategies, performance management, risk management and corporate governance. Presently she is pursuing professional diploma on marketing with Chartered Institute of Marketing and has passed most of the modules.