Alan Hatfield is the director learning of the Association of Chartered Certified Accountants (ACCA). He is responsible for developing and maintaining ACCA’s qualifications and continuing professional development requirements and ensuring that they are business-relevant and fit for purpose. With 20 years of experience, Alan is leading ACCA’s learning directorate since September 2010. Alan is a history graduate from Glasgow University and a member of the Institute of Chartered Secretaries and Administrators. He recently completed his MBA with distinction from Oxford Brookes University.
Why did you choose to work in the education sector?
I chose to work in the education sector because I have a passion for education and how it can change peoples’ lives. Working for ACCA which I have done for over 20 years has allowed me to see how professional accountancy education, through the ACCA Qualification, can change people’s lives on a global scale as well as contribute to the growth of economies worldwide. Lifelong learning is very important to me and to the ACCA and I’m very proud that we offer qualifications and learning opportunities which support every stage of the careers of our students and members.
What led ACCA to work in Pakistan?
ACCA has been working in Pakistan for more than 20 years. We had long recognised the huge potential in the country – with talented young people and a business sector that needed and still needs highly qualified finance professionals.
We now have three offices in Pakistan – in Lahore, Karachi and Islamabad which provide services for students and members, along with ensuring we can connect with employers and tuition providers who are critical to our students and members enjoying successful careers
How is your experience of working in Pakistan so far?
We have been very impressed by the quality of students in the country and have enjoyed working with a range of stakeholders to help develop the profession here.
There have been challenges recently as a result of a notice issued by ICAP. That is currently the subject of legal action involving the Competition Commission of Pakistan but we hope that will be resolved and we look forward to working in partnership with ICAP, a body for whom we hold the highest regard, in future to continue to develop the accounting profession.
What is your assessment of the Pakistani student body?
Pakistani students enjoy considerable success in the ACCA exams, with many going on to enjoy successful and rewarding careers in finance and business. They are very involved in student matters, and participate in networking events as well as engaging with social media on a range of issues which are of direct importance to them. There are students who will need additional support and we work to ensure that they have access to necessary resources and guidance, through as range of partnerships we have in Pakistan.
What potential do you see
in accounting and finance as a profession?
There is a huge potential for finance professionals with a complete range of skills, particularly in a rapidly emerging economy such as that of Pakistan, as well as in the wider region. There is also a demand across all sectors – whether in business, in banking, in the public sector or in practice, providing services to organisations and individuals alike, there are a great many opportunities.
Increasingly, those with a background in finance or accountancy are getting to the very top of the business tree, as Finance Directors, Chief Financial Officers or as Chief Executives because they are seen as having the right skills to help organisations to meet the challenges in an increasingly complex and globalised marketplace
How is the profession ranked in Pakistan?
The profession is ranked very highly reputable in Pakistan. Professional accountants from Pakistan contribute to the business and economic growth of not only Pakistan but Middle East and South Asian region in particular and the whole world in general. The profession has become increasingly vibrant in the last few years leading the discussions on corporate governance, business ethics, the changing role of finance professionals, sustainability reporting, diversity in the profession and internationalisation of financial reporting and auditing standards. ACCA has been very pleased to share its highly influential globally impactful research in shaping these debates.
What has been the trend of ACCA studies in Pakistan and how do you think it has been different from global trend?
Pakistan is different to many other markets, for example Europe where the employers play a significant role in the funding of ACCA students tuition. In Pakistan, employers generally do not financially support trainee exam and tuition related costs. They are not actively involved in monitoring the academic performance or providing trainees support to pass their exams. In Pakistan majority of ACCA students tuition and exam costs are financed by parents. We are working with the employers to ensure they are more actively integrated in the ACCA tuition and exams performance as it would motivate trainees to focus more dedicatedly on their ACCA studies and it will also support employers talent management agendas. Please share your views on the potential of the Pakistani students in the global market? Also for the aspiring local students shed some light on the career opportunities open after completing the qualification?
There are a great many opportunities for students – as already mentioned, there is a huge shortage and therefore huge demand for highly qualified finance professionals. Many organisations, which have operations in Pakistan and around the world look for students with globally recognised qualifications, based on international standards, which enable finance professionals to work in a greater number of jurisdictions. ACCA has worked with tuition providers to meet that demand, and regularly surveys employers to ensure that we meet their needs for a skilled workforce.
Since you are also in-charge of adapting the course to the changing needs, tell us what major shifts in Pakistani business scene have you observed over the past?
Pakistani businesses have become more aware of the reporting trends internationally. We have seen a number of Pakistani businesses buy into sustainability reporting principles coming up with their own sustainability reports as evidenced by increasing number of entries for ACCA-WWF Pakistan Environmental Reporting Awards. Islamic finance is becoming very popular in Pakistan. Awareness of the value of business ethics and the need to be more diverse in talent recruitment and management are few other trends we have observed. The role of CFO is changing and Pakistani businesses are keen to explore the new dimensions of the role whether it is to be a strategist, a decision maker, a trusted advisor to CEO, integrated reports initiator or the custodian of best practices of governance. All these trends have been part of ACCA qualifications and our members and students have played their role in making Pakistan businesses more integrated with international best practices.
Tell students what is the best way of studying ACCA in Pakistan?
In Pakistan we have a well-established network of Approved Learning Partners (ALPs) in major cities of Pakistan. They have a proven record of providing adequate support to students to pass ACCA exams. We have invested in Pakistan by working on a number of ALPs tutors capability building initiatives including Train the Trainer. We do recommend that students study at ALPs but there are number of other option available for example online learning and self-study.
How do you think students will benefit from the ACCA Foundation Diploma?
One of ACCA’s missions is to provide opportunity and access to people of ability around the world and support our members throughout their careers in accounting, business and finance. Since our beginnings, ACCA has worked to ensure that pathways into the accountancy profession are open and accessible, regardless of people’s background and previous experience. With that in mind and in order to give all our aspiring finance professionals in Pakistan every opportunity for success, we have been working closely with learning partners here to develop a Foundation Diploma, which offers the best preparation for students to progress to the Masters Degree level ACCA Qualification. It is important that students have the relevant knowledge and skills to enable them to advance onto this challenging qualification, and the Foundation Diploma offers just that.
The Foundation Diploma was created after detailed consultation with employers, ACCA learning providers, members, students and other professional accountancy bodies and regulators. Youngsters increasingly aspire to have a qualification that is recognised globally, and gives them the chance to have a great career. Ultimately, ACCA’s Foundation Diploma will allow many students to have access to a global recognised qualification, which will give them the best possible career options.
Any feedback or advice to students?
I would advise them to be focussed on their studies. To achieve exam success, do a lot of practice and have a sound exam technique. Every student has to ultimately work and students in Pakistan need to work on being work ready. They should invest time in enhancing personal skills for example communication skills, CV writing skills, interview skills, commercial acumen and awareness of what is happening in the business world. Read newspapers and use internet to increase your understanding of the business world challenges and to improve your personality.
‘I have a passion for education’
