sasa110

Hi all,

I'm 12 papers down in ACCA (2 more to go, hopefully should be done by Dec 09 or Jun 10) and an Indian. My previous experience was accepted by ACCA as practical experience and they'd let me would apply for ACCA membership soon after I've passed all the papers.

I am looking at a time-saving plan that would fast-track me to CPA Australia, since I'm planning to immigrate there. The fountain of knowledge JAJ has mentioned the two routes to the CPA in another thread:
Plan A)either study it independently, or
Plan B)get the CIMA and go for the MRA.

I have looked at the exam centers for the CPA -- there are a few centers in Asia, namely UAE, Thailand, Singapore, Malaysia, Indonesia etc.. I scanned their website but did not get some specific info I was looking for, and I was hoping if someone could help me out here.

Once an ACCA, can i get direct admission into CPA and get to do the 6 final papers, or do I still have to do the 2 bridging exam certificates via a university?

If the former is yes, I'd be really interested to join the CPA course from here in India, and hop down to Thailand or somewhere from India and hopefully knock down a few papers, so that by the time I am in oz (target 2010-11), I'll be CPA or near CPA. (I am willing to spend on trips to foreign exam centers (i've relatives in 1-2 of them) since a CPA would certainly help to kickstart a career sooner in Oz)

Alternately, the other plausible plan (plan B) seems to enroll for CIMA where I'll get significant exemptions due to my ACCA studies, take final CIMA exams in the Indian city I live, hopefully finish it before/after landing in Oz, and take the MRA by 2012 (when the agreement will possibly end).

However, this would only work out if CPA australia acknowledges 1)CIMAs who've become CIMA through ACCA exemptions, and 2) CIMA qualifieds, who've acquired the CIMA practical experience requirements from prior experience, and not from a CIMA training position . Can anyone shed any light on this?

I'm hoping to get the CIMA practical experience, since I already got it for ACCA. I'm also hoping this gets accepted by CPA Oz! Too bad ACCAs have to suffer so much - when I enrolled for it, they told me ACCA was such an international thing....apparently its not!

I'd be grateful if someone could share some inputs. Thanks all!

The CIMA website in regard to practical experience:
http://www1.cimaglobal.com/cps/rde/x...t.xsl/1316.htm

How much experience do I need?

You will need a minimum of three years relevant practical experience, some or all of which may have been gained before registering as a CIMA student.

You are not expected to have covered every single aspect of the practical experience requirements. However, you do need to have a good spread of experience across the three areas including at least 18 months in the core area.

Passed finalists who have a minimum of three years’ senior/strategic experience, in addition to the three years' relevant experience required for associate membership, can apply for direct entry to fellowship.

sasa110

Hi,

between the time i posted this thread and it was accepted by the moderators, i did gain some further information on the matter, and would like to share them here. Hopefully someone will benefit out of it.

Please don't blindly believe in the information given below - double check for yourself, and please please correct them if they're wrong somewhere.

An assessment of the 2 plans A & B, from the pt of view of a South Asian (or similar) ACCA who wants to finish the CPA Aust. partially or fully before moving to Oz in the near future.

Plan A) enroll for CPA Aust. whilst still in your country:

1)apply for assessment
2)most probably your assessment will say you've to complete studies in taxation and auditing.
3)there are 6 papers/segments to do, 4 compulsory and 2 electives (electives have to be advanced audit and tax, if your assessment goes as per pt. 2).
4)at one exam diet, you can take maximum 3 segments ( CPA australia recommends 1).
5) you enroll for the no. of segment exams you want to take for 740 AUD each, fly to an exam center (bangkok / dubai e.g.) and take the exam. return flights to bangkok from some indian metros cost around 10-15k INR or 2-300 USD.

ultimately, this is an expensive proposition. the CPA exams are very costly themselves, and then the foreign airtrips +hotel+taxi costs.

I'm still trying to figure out how to fit in the bridging unit exams here. Perhaps ACCAs dont need to do it?

Btw, this plan is suitable only for those who absolutely.must.speed.up the CPA process. Please don't criticise the plan if you dont believe in it. If you're happy to land in Australia and take CA/CPA exams (if at all you want to take the exams!), good for you. I personally would like to begin with the CPA sooner rather than later, before reaching australia. I know several ACCAs and Indian CAs who went to Australia and struggled for a good while. All of them enrolled for either CPA or CA subsequently to enhance their job prospects. I dont see the harm in enrolling sooner and getting a headstart -- it might help out greatly in settling down careerwise. Not meaning to scare anyone -- on the other side of the scale, I also know at least 2 ACCAs of South Asian origin who have got jobs soon after landing in Sydney and don't intend to study for more accounting qualifications.

Plan B)get the CIMA and go for the MRA.

1) out of the 9 papers of CIMA, you can get exempted at 3 for your ACCA (if P5 was one of your ACCA electives).

2) Finish the rest of the 6-7 papers in 3 sessions (may10, nov10, may11), try to sit for topcima by November'11. if you sit for topcima in may 2012, you could still make it, but that would be too tight! If you sit for topcima in nov 2012 or later, i think you wont be able to get the cpa in time (unless there is a renewal of MRA, which expires at the end of 2012)

3) sort out the practical experience for CIMA, apply for membership asap. Ideally if you finish topcima by nov'11 and sort out the membership by say may 2012, you could take the MRA to CPA without too much time pressure. The practical experience requirement (PER) for CIMA is a bit different from ACCAs. You need 36 months experience, out of which at least 18 has to be in "core areas" of management accounting. the rest of the 18 can be optionally made up of external auditing (upto 12 months can be counted) or internal auditing (upto 18 months can be counted). Prior experience is counted. Unless you have the "core areas" to show from prior experience, or are not in a position to do them now, you probably won't fulfill CIMA PER in time, and hence wont get the CIMA in time to avail of the MRA opportunity. So drop Plan B altogether and go for Plan A!

Caveat: I'm still not sure if CPA Aus. will accept CIMAs who've acquired the CIMA PER from prior experience, and not from a CIMA training position. My hunch is that the former will be ok, assumed that in the above para.

4) lots of exam centers for CIMA everywhere in south asia, and exams are much cheaper. Roughly CIMA will cost around 1500 USD for the entire course (this is a very rough figure -- depends on exam attempts, book costs, cost of travel to centers etc.)

ultimately, the pros and cons:


plan A) CPA australia directly:
pros:
less time pressure. take exams at your own pace, maybe even after landing in Oz.
practical experience req. would probably be waived.
cons:
high costs, hassle of enrolling from say India and taking exams in say Bangkok


plan B) CPA via CIMA
pros:
cheaper (in fact, much cheaper)
cons:
too much time pressure -- if you dont wind up by nov 11, your efforts might go to waste.
you need to have very niche practical experience before you can be a member.
you've to pay double membership fees.
............



PS: that was a very loooong ramble. apologies!

JOE2010

I think - and stand to be corrected - you need to be a graduate to be assessed positively by CPA Australia. I think ICAA/NIA may assess you positively.

Good you realise that ACCA is not what "it markets itself in third world countries". I qualified as an ACCA six years ago - but am now undertaking CA. Unless you have solid experience in an MNC, or you are Anglophone (British, Irish, South African(White) or Scottish) - you will find that you are beginning all over again.

Adeelkhan

Hello,

I have recently got information about it and it is concluded that those gaining exemptions after ACCA into CIMA are not eligible to claim membership of CPA (AUS) through MRA with CIMA.

but in future we may see an MRA of ACCA with CPA (AUS) or CA (AUS).

Therefore, at the moment you can study CA (AUS) at 4 approved locations, that is, Singapore, Australia, Malaysia and Fiji.

For the CPA (AUS) you can study in your home country as they confirmed that they will send distance learning package and arrange an exam.

But the question is when we are eligible to claim ICAEW membership that is one of GAA then why we cannot gain membership of all other bodies of GAA, makes a certain and valid point that is that ACCA is considerably affecting their market position and it was confirmed at that time when i was studying ACCA in Pakistan and my teacher told that we recently met with representatives from ICAEW who held an agreement now with ICAP. My teacher confirmed to me that ACCA is affecting growth of ICAEW and now they are introducing them in Pakistan and previously it was mandatory for ICAEW membership that the experience should be gained in a public practice firm but now experience gained in other sectors are valid as well.

In the future if ACCA is successful in having MRA with CA (AUS) or CPA (US), then i think it shall rock!

NikiL

For migration assessment you should go for NIA as a CIMA non graduate, however the question was about tranferring to CPA

You can get CPA membership under the MRA as a non graduate provided you gained your membership of CIMA through examination.

As a note, you don't have to wait until all exams have been finished to submit your RPE to CIMA. As soon as you are on the Strategics as was (haven't looked at the new syllabus yet) you can submit your RPE and if its accepted you get your letters as soon as you've passed TOPCIMA.

JAJ

That may never happen. CPA Australia doesn't need any agreement with ACCA, it is now well recognised in Britain, Ireland, Canada, etc, through other arrangements.

Adeelkhan

Hi Jaj,

Currently convergence is taking place of US GAAP towards IFRSs. After it ACCA may be successful in having MRA with CPA (US).

Accountancy is a global profession now and it should be recognised by the accountancy bodies as well.

Adeelkhan

Hi,

ACCA is affecting market position of other accountancy bodies for sure which is confirmed by events such as:

1. ICAP was previously giving much more exemptions to ACCA but now you have to study 2 modules all together. I am originally from Lahore, Pakistan and i know why this step was taken.

2. ACCA and NZiCA was having MRA but which they removed in 2003.

3. ICAEW is considerably hit which is proved when the representatives of ICAEW held agreement with ICAP and which my my teacher FCA (PAK) confirmed to me.

3. GAA is also a step to make stable and more strong the market position of these accountancy bodies.

4. Accountancy firms in Pakistan were not preferring ACCA students to train but now even big 4 accountancy firms are training ACCA students and giving them more stipend than students of CA (PAK).

JAJ

There is no such thing as a "global profession". Professions are regulated at a state and national level.

JAJ

You may wish to point out that this is your opinion and not supported by verifiable evidence.

NikiL

It is his opinion, but it is quite possibly valid. Anyone in the situation where they have gained CIMA membership with exemptions would be advised to check with CPA before applying as one of the key criteria is that CIMA membership is gained through examination.

My CPA contact is back in January - I'll ask him then and post back here what he says.

JAJ

It fairly unusual for CIMA members to site the entire set of exams. The majority gain some exemptions based on a degree or other qualification. The CPA Program corresponds to the final stages of CIMA exams.

IF CPA-A start refusing any CIMA member who has not completed every single CIMA paper then I expect CIMA should become quite upset as that is unlikely to have been the intention when they signed the agreement.

NikiL

They can be pretty tight on the exemptions - something that seriously cheesed off a number of my trainees in the past! I didn't think for one second they'd insist on every exam having been sat, but there is a vast difference between sitting all of Managerial and Strategic (or whatever they are now under the new syllabus) and just sitting TOPCIMA for example.

Like I said, I'll check with my CPA contact when he's back in January and update accordingly.

annamichelle2310

So, for simplicity's sake, may I ask a (maybe) daft question....

I'm ACCA, I'm NIA, I want to be CPA.
I've been advised by them just the taxation paper to do through Open Uni for conversion.....ok....

How long to do the CPA exams?

JAJ

Unclear how this relates to the thread topic, also looks like it has been asked already:
http://britishexpats.com/forum/showthread.php?t=613138