Many years ago, you can raise a family on high school diploma, then you need a degree and then you need a degree plus professional designation. The world has since moved past the stage where you can make a good living based on education alone. I think that's the delimma CAs are facing.
Outside of public practice, the training provided by CGA/CMA are more than adequate for most companies. Most of the analysis jobs out there only require you to be able to extrac data from SAP/Orcale and then compile some reports. I would say you don't even need CGA/CMA to do those jobs. Moving up the ladder, the technical expertise required to suceed is even less, you just need to be a leader and communicator. Most CFOs couldn't tell IFRS from CGAAP because they don't need to, they have their minions of CA/CGA/CMA to do it for them.
I can see why the younger CAs are the ones vehemently opposing this. After all, no one wants to work hard with no reward. But the truth is, CA vs CGA/CMA are like Mercedes vs Audi and not Mercedes vs Lada.
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