JAJ

Makes no difference for visa purposes. CA/ACA, ACCA and ACMA (CIMA) are all equally recognised. CPFA (CIPFA) is also ok for migration purposes.


The advantage of being CA/ACA is the direct comparability to the Australian CA qualification.

ACCA might theoretically be comparable to CPA Australia but since the institute names are dissimilar and they can't agree on mutual recognition, it doesn't work all that well.

And CIMA are under the disadvantage that they have no directly comparable (established) local institute in Australia to work with. They do work closely with ICAA but not many in the Australian professional community know about this. And it only makes a relatively minor difference to the CA membership path for CIMA members.

Ironically, CIPFA has managed to attain a recognition deal with CPA Australia recently. Something that has eluded ACCA for a long time.

I would have thought that an ACA going into industry would see it as a logical step to add-on CIMA (and then have best of both worlds). Same way that an ACA becoming a tax specialist would usually become a CTA (formerly ATII).

There are pros and cons of doing this as opposed to an MBA or something else .

If you're an English CA you should be able to access ICAA services at member rates:
http://www.charteredaccountants.com....ember_services

worzel

I have to say that I have worked with probably hundreds of ACA's in the UK who like me have trained in practice but have moved into industry later and do not recall a single one converting to CIMA. Progression to tax, MBA are quite common though.

Dago

[QUOTE=JAJ;5336718]Makes no difference for visa purposes. CA/ACA, ACCA and ACMA (CIMA) are all equally recognised. CPFA (CIPFA) is also ok for migration purposes.




The advantage of being CA/ACA is the direct comparability to the Australian CA qualification.

ACCA might theoretically be comparable to CPA Australia but since the institute names are dissimilar and they can't agree on mutual recognition, it doesn't work all that well.

I think you are right. A fuly qualified ACA has the right to audit a corporations statutory accounts and can sign them off for legal purposes. A CIMA and aan ACCA need a Practicing Certificate which replicates the 'articled clerk' type training the ACA has to do.

This is why an ACA will fine it easier to convert in Australia (not because he / she is brighter ) - because the certification element will be better understood by both parties. CIMA and ACCA with practicing cert will be in the same position - but there is some snobbery. The Scottish CA is in the same position as the ACA.

I used to work in London where there are loads of Australian acountants working and yet loads of Brits want to go South.

Good analysis Moderator!

JAJ

Not every ACA has a practising certificate either. From that point of view there is no difference between ACA/ACCA.

CIMA accountants cannot get practising certificates as the qualification is not focused on audit.

Dago

I'm sorry but your statement is not right. You can get a practicing certificate with CIMA - or indeed any of the CCAB accounting bodies. Look up the CIMA website - 'members in practice' section if you don't believe me.

As far as I am aware you cannot complete your ACA qualification without undergoing training that automatically leads to the auditing certificate. Of course you need to maintain in any case with CPD. It, and the CA are very respected qualifications.

ACCA is not geared to auditing - it is a general Accounting Qualification to a very high degree of rigour and depth. Auditing appears only in the ACA Syllabus. Internal controls appears in CIMA and possibly ACCA.

Both CIMA and ACCA cover consolidation of foreign subsidiaries which is essentially the end point for financial reporting.

oksana21

Hi Dago, i agree with all your comment so far, apart from from the one above, what made you say that? I must correct you in that point... I've qualified with ACCA at a Big4 firm, and on based on that experience i can comment that ACCA does include very in-depht auditing papers. In addition to the "normal" auditing paper there is an advanced auditing paper which covers the more high-level elements to complement the basics, to pass these papers i actually read most of the ISA'a and was able to tell you the content of every single Auditing Statement, my ACA colleagues did not demonstrate the same level of knowledge during internal training courses we went on.... Hehe so there!!!

JAJ

You are confusing a "practising certificate" which is required by professional standards to work on a self-employment basis, with Registered Auditor status under the law.

CIMA and CIPFA qualifications are not a basis for having Registered Auditor status. And not every CA/ACA/ACCA is eligible either. At the same time, there are two groups of non-CCAB persons who may be eligible for Registered Auditor.

Training outside public practice has been around for about 15 years now:
http://www.icaew.com/index.cfm?route=150568


I don't know where you get this idea from but it's completely wrong. A look at the ACCA syllabus is recommended - it does include audit.
There are ACCA qualified accountants offering audit services all over the United Kingdom.

Dago

[QUOTE=oksana21;5338716]Hi i can comment that ACCA does include very in-depht auditing papers. In addition to the "normal" auditing paper there is an advanced auditing paper which covers the more high-level elements to complement the basics,


My mistake and thanks for correcting me - as did someone else. ACCA is a good qualification and it does not surprise me that you did better than some of the ACA. Not all of them are always the best candidates. But not all of them are worse of course.

Thanks again and good luck with it!!

oksana21

Thank you Dago

p.s. i must give you one thing though... from studying with other students doing ACCA, although there were some individuals who were exceptionally bright, the majority of my class was struggling to get with grips with some things which some would say is common sense.... (that was a bit mean but it was my experience) based on that i can very well understand where the perception of "second class qualification" comes from.... I believe its what everyone makes of it and as someone else said it also depends on your experience and interpersonal skills....

I'm going to go to Oz soon (well its still over a year away but feels like tomorrow) i'm already sooo excited.

Good luck to you too!

JAJ

I have known a few but they were either qualified many years ago (maybe jobs were harder to come by then?) or have gone into academic positions (where multiple "letters" impress the uninitiated).

NikiL

You don't tend to get too many of any organisation taking out membership of another any more - by the time you've got through the multitudinous exams most people either don't want to study any more or they move onto MBAs or further specialisations. I considered taking on ACA after CIMA, but decided to go the MBA route instead - btw JAJ I work as a Financial Accountant

I'm assuming sunshine girl is CIMA as well - a lot of accountants get very defensive of our professional bodies, and certainly where I work there is quite a (good natured) rivalry between the people qualified with different bodies!

oksana21

How far in are you with your MBA, this is something that i am considering but haven't fully decided on jet, the one's from "good" uni's such as LBS are like £45k which i cannot afford but i heard some critisim about MBA's from "second-class" uni's which makes me wonder whether doing a normal masters would be worth more... ?? I've got my ACCA membership letter through today and already itching to do more exams! what do you think is the "best" route?

NikiL

I think it depends on where you want to be and what options you have for accelerated MBA's through ACCA. I think they do one through Cranfield which is a top notch school in anyones book!


I'm only 2 units out of 6 through it so far. Well, almost 2, exam in 10 days time

I dug around and was told that Deakin in Melbourne are apparently fairly well regarded in Oz, so having the accelerated option through CIMA was an ideal option - especially when work agreed to pay for it

Your best bet is to look into the qualifications that are best regarded in whatever specialisation you want to move into. A straight MBA may not be the ideal qualification for what you want, or it may be ideal. It all depends on your long term plans.

Congrats on getting your letters btw, oh, and doing a masters of any form counts as structured CPD

JAJ

If you have been a member of CIMA for 5+ years you may be eligible for direct entry as an ACA (although I doubt this route to membership will be open indefinitely).

NikiL

I only passed my last CIMA exam March 06 and get my letters November 06 so unfortunately not an option for me. You do still have to sit an exam though

Theres been a lot of talk about an ICAEW/CIMA merger for the last few years, it pops its head up, gets voted out and goes away for another year but its likely to happen eventually as the organisations seem quite determined its going to happen. The main thing everyone gets concerned about is ironically enough the dilution of their respective qualification because they have different strengths. There is another org involved (I think CIPFA) but its too early in the morning for me to remember.

Had to get up early as the mail finally delivered my first application to NIA & been charged twice for immigration assessment now. Have to say NIA's response to sort it out was very prompt & professional. (as you'd hope from an accountancy org!)