DaveandLinda

Hi
I am hoping that some knowledgeable people on here can offer some advice to my son. He was studying for ACA and is partly qualified. He then took a year out (against my advice I might add!) to spend a year travelling in Austrlia and visiting family. He has been finding it difficult to find an employer who will give him study support so he can continue with his ACA.

He has a temporary job with an accountancy firm who have now offered him a permanent position and are willing to offer him study support if he is willing to switch to ACCA. His concern is that this is not recognized in Australia. Could anyone advise please, if this would be recognized and whether he would need to do any further study in Australia and what the chances would be of getting a job with ACCA.

JAJ

ACA is recognised in Australia, in that it's possible to easily become an Australian CA.

ACCA only gets limited recognition in Australia - generally, as the equivalent of an accounting degree - and it's necessary to do further exams (and in some cases, experience) to become an Australian CA or CPA.

So if the choice is ACA or ACCA, for an Australia bound person, then ACA is a lot more transferable. On the other hand, if the choice is ACCA or nothing, then take ACCA but be aware that there will be more exams and mentored experience required to become an Australian CA.

Long term, being ACCA + Australian CA is not a bad combination as there are some places in the world where ACCA has simpler/better recognition.

Does he have a university degree? (any subject)

Bermudashorts

Even putting Australia to one side, I would say that in the UK a newly qualified ACA will have far more interested employers than a newly qualified ACCA. I am ACCA and it takes a good three years or more post qualification before employers will become more interested in the experience than the qualification.

I would recommend he does everything he can to push for ACA before switching.

DaveandLinda

Thanks for your reply JAJ. Yes, he has a BA in Economic and Social Studies from Manchester University..

DaveandLinda

Thanks for your reply Bermudashorts. A difficult decision for him I think. An additional problem is that his girlfriend is a speech therapist and looking to apply for emigration to Oz sooner rather than later (assuming she is still on the new SOL), so I guess it all depends on how long they are prepared to wait.

DaveandLinda

Just another thought - presumably ACCA would allow him to get a job in a financial capacity, even if not as a Chartered Accountant?

Would he be able to get a positive skills assessment with ACCA? My son has already done some research re CPA and apparently they recognise CIMA, which he says is not as good as ACCA, so why not ACCA?

Bermudashorts

I am ACCA and had no trouble getting positive skills assessment. I also have had a very good responsen from recruitment agents so far and two of them have lined up interviews for when I arrive in Australia next week. (Although now I am thinking of delaying a permanent move anyway but that is another story).

There is a lot of negativity about ACCA on BE but I can honestly say nobody has raised it as an issue with me at all. I have even brought the subject up myself and my concerns are dismissed with comments along the lines of "employers are well aware of what ACCA is".

Having said that, I am 14 years post qualified and over time the qualification becomes less relevant that the experience. Whereas your son will be newly qualified and in that case, I think ACCA puts him at a disadvantage against ACA whether he is in Australia or the UK. But it won't be for ever.

DaveandLinda

Many thanks for your speedy response.

Lots of food for thought I think.

JAJ

Yes, normally ... it's a good qualification, just not quite as prestigious as ACA.

Under current rules - yes. This is because you only need the equivalent of an accounting degree, and ACCA is given that level of recognition.

On an academic basis, CIMA and ACCA are both comparable. Why is CIMA recognised when ACCA is not? Because back in the 1990s, ACCA decided to try to turn itself into a "global" accounting body rather than simply a UK-centered one. In certain countries, including Australia, that meant competing with local accounting bodies instead of working with them. Hence, ACCA isn't locally recognised in Australia and it lost its local recognition in New Zealand and Hong Kong. On the other hand, in fairness, ACCA is still recognised in Singapore and has obtained recognition in Canada.

Adeelkhan

Hi Jaj,

1. I have decided that i will leave ACCA when i get exemption into ICAEW but sometime i think that there may be some aspects where ACCA have preference over ICAEW which is reinforced when you said that there are some places in the world where ACCA have better recognition. Please explain that how ACCA have advantage over ICAEW and if i leave ACCA for sake of ICAEW what would be the disadvantages?

2. Degree from OBU to ACCA require to be active registered student/member of ACCA or not? i know it is necessary BEFORE the degree is gained but i am unsure about that requirement AFTER the degree is gained. Such as that i leave ACCA when i get exemption into ICAEW my degree from OBU will be valid or not?

JAJ

Canada - if you are ACCA, you can become a CGA very easily. The pathway for an ICAEW member to become a Canadian CA is more difficult.

Perhaps also Singapore?

Normally it is better to keep a qualification you have acquired, even if you acquire another.

A degree is valid for life.

Adeelkhan

Hi Jaj,

Singapore-CPA is awarding equal value to both ICAEW and ACCA. ICAEW still have upper hand especially if you consider the MRAs held by ICAEW. Perhaps because ICAEW is established earlier than ACCA?

JAJ

It's well established that ICAEW is better recognised in the major countries than ACCA, mainly because as a national body it is better placed to negotiate mutual recognition without competing directly. But there are places where ACCA has comparable or even better recognition.

Adeelkhan

Hello Jaj,

What are the countries where ACCA have better recognition than ICAEW?

In Canada CICA is more valued than CGA, atleast have ICAEW have MRAs with major accounting bodies?

JAJ

Canada comes to mind. I wouldn't say ACCA recognition is better than ICAEW, but it's certainly easier to switch ACCA --> CGA than it is to go from ICAEW to Canadian CA.