The Associated Certified Chartered Accountants (ACCA) as a profession has almost become a craze for the young over the last few years. There is a mushroom growth of institutions and tuition centres preparing young entrants. The parents are paying huge sums to these tuition centres and paying hundreds and thousands of pounds as examination and admission fee to the Institute of Associated Certified Chartered Accountants. Obviously, high hopes are pinned to the prospective ACCA’s. It is also a fact that there is a fair demand for such professionals both in the local and foreign markets.The curriculum of ACCA and CA has many similarities. The Institute of Chartered Accountant (ICAP) allows exemptions to ACCA’s and after completing the articles, the ACCA’s are eligible to appear in a few papers to get the CA. As a condition to appear in the professional papers of ACCA the candidates have to undergo internship in the accounting firms. The CA firms allowed budding ACCA’s to have such training. Both the professional bodies were complimenting each other. Nevertheless a Cold War is also going on. The CAP as a body wanted to discredit ACCA’s and considered it a threat to them. Recently, the CAP has circulated to their members that they are not allowed to have ACCA students as internees and issue any certificate of such training. This arbitrary decision has shocked the students and their parents. The students already having internship with CA firms are bewildered and their future looks bleak. The rationale of this decision is not understandable. Is it not monopolistic and discriminatory violating the fundamental rights? Is ICAP afraid of the intellect and capability of the ACCA’s? Does it realise that it will dampen the hopes of a large stratum of society? Is there any Governing organization to check such insane and arbitrary decision of the ICAP or are such professional bodies allowed to have their way unbridled and uncontrolled? Could somebody look into it and remedy the situation. I appeal to the ICAP to reconsider the decision dispassionately and with sanity and withdraw the circular. Let there be fair competition.TAHIR LATEEF SHEIKH, Lahore, September 14.