Are GCSE's essential for our childrens future?

My husband and I were discussing this yesterday and really couldn't agree with each other.  My husband thinks qualifications and exams are essential to any child's career,  I however, think it may not be the case.  Although I have heard bits and pieces from different home educators, I don't really know that much on the subject as I only have small young children and have not experienced this stage of education.  Apart from my own experience, and lets face it one experience really isn't all that comprehensive, I don't feel I know all the answers.  So the debate today is are GCSE's essential for our children's future?

Are GCSE's really necessary for our children to get a university placement?  The other day someone brought up in conversation that they felt that A levels and further qualifications were far more relevant.   So do GCSE's have there place still?

What about iGCSE's are they relevant today?  What if we leave Europe (highly unlikely I know but just incase) will they be meaningless?  Or are iGCSE's a better qualification?

From my own life experience I know that my qualifications didn't really get me the jobs I really enjoyed doing.  It was the things I had self taught myself.  It was because I had taught myself that it impressed my previous employers far more than a piece of paper saying what I could do a few years ago.  I feel that home educated children have the same self motivation to educate themselves about issues that interest them.  However, this surely depends on the job going for?  Other occupations such as accountants, lawyers and doctors for example are going to need qualifications and if this is what our children want to head towards then, is it possible to skip GCSE's and still be able to get into these professional vocations?

I have also heard of people getting university slots on merit and not exams and their results, even people who have obtained scholarships.  Is this the norm?  If this is the case why do school push children to have so many GCSE's?  Is it purely a statistical factor?

I'd love to here your views.  What do you think?  What are your experiences?

Oh, and HAPPY ST GEORGES DAY!