Desertwombat

Hey Guys,

I'm soon to complete my ACCA qualification and have the opportunity to complete the ICAEW Qualification.

(This is not to be confused with the MRA with ICAEW after five years of being ACCA Qualified)

My ACCA Qualification will gain me exemptions from all but the final three professional ICAEW exams. (same as you would get a couple of exemption with certain Degrees)

I have to fufill the three year work experience requirement. I can use one years experience prior to becoming an ICAEW student and then will need to gain a further two years. (which i dont mind as they can also be use for ACCA Practicing Certificate Requirements)

Upon completion of the three exams and the two years further experience i will have gained the ICAEW Qualification.

Now i also see that ICAEW has a MRA with ICAA. My question is, If i was to gain my ICAEW Qualification in the mannor stated above. Would i be able to gain MRA with ICAA using my ICAEW Qualification?

It would be very helpful if anyone who has first hand experience of this could reply. As i`m sure you can appreciate i dont want to invest two years into this Qualification only to find out i cant use it for the MRA with ICAA.

Thank you guys for taking the time to read my question and also for taking the time to reply. Look forward to reading your views.

Griffangus

Hi,

I think (maybe incorrectly) that you are in a rather unique position. Having personally worked and studied through an audit training firm to become ACA qualified I do not know of anyone who has attained ACCA qualification and then gone on to gain exemption and qualify as ACA (under ICAEW).

I think your best option would be to call the ICAA and discuss this with them directly. When I had to call them in the early stages of our application I found them very helpful and friendly.

Maybe a silly question but why do the ACA qualification if you can get into Australia on the ACCA one?????

Desertwombat

Hi,

The only reason i would complete the final three exams and also qualify as ACA would be to use it for the MRA with ICAA.

Its frustrating to learn that even though ACCA purport thereselves as a Global Qualification this is far from the truth. CIMA and ACA both have MRA with Australian Accountancy Bodies but ACCA does not.

Hence my desire to do ICAEW. If i had known this i would never of followed ACCA, but i suppose i only have my own lack of research to blame for that one.

Just would have though ACCA would have set up a MRA atleast while they established ACCA in Oz. However it seems they are not really that interested in creating the best situation for their members moving to Oz despite the sounds they make. So moving to Oz with ACCA puts you at a disadvantage to CIMA and ACA individuals moving to Oz.

Ok i will stop my ranting now....but as you may have notice it annoys me greatly.

JAJ

You're unlikely to find anyone with first hand experience, but have you looked at the Members Handbook on the ICAA website? There are rules on admission in there. Bear in mind that these could change.

Desertwombat

Hi JAJ,

Did as you say. Hand Book states,

"209.4 An applicant shall have been admitted to the overseas accounting body by the usual education and professional examination requirements, not by special recognition or any other mutual recognition agreement.

209.5 An applicant shall have professional experience of not less than three (3) years in the case of an applicant who has graduated from a tertiary institution, or five (5) years in any other case."

In my opinion, i think it i would fufill these requirements. I would have gained exemptions from most of the exams (just as Degree Students get exemptions from a few) and will have studyed for and pass the final Advanced Exams and Case Study.

Regards the Work Experience, i already have five years accountancy exp. Only one of these can be used towards the ICAEW's three year requirement. Therefore i will have to get another two after joining as a student.

So i have more than covered the work experience side of things. I am however hesitant due to the number of exemptions i will be receiving. Suppose the only way to know for sure is to drop both ICAEW and ICAA an email and get their views on it. Will do that this evening i suppose.

louH

A MRA requires both bodies to be in agreement - perhaps you should not lay the blame entirely at the ACCA's door without knowing what steps have been taken by the ACCA to establish MRA here in Oz..............

JAJ

Of course. But trying to "compete" is not a good basis for having mutual recognition.

louH

Yes your right - unfortunately we have no control over this!

jaffers

[QUOTE=Desertwombat;7765623]Hi JAJ,

Did as you say. Hand Book states,

"209.4 An applicant shall have been admitted to the overseas accounting body by the usual education and professional examination requirements, not by special recognition or any other mutual recognition agreement.

209.5 An applicant shall have professional experience of not less than three (3) years in the case of an applicant who has graduated from a tertiary institution, or five (5) years in any other case."


Hi Desertwombat, do you have an update on this? as i am in a similar sort of predicament albeit through a different route? would greatly appreciate if you have an update.

Cheers,

Adeelkhan

Hello Guys,

I am wondering because i red about it that when you are able to work legally as an Accountant and Insolvency Practitioner solely on the basis of ACCA so why the hell to bother to think about ICAA/CPA/NIA ?

Is there any one who can criticise it ?

talhaaz

Hi, I am an ACCA finalist in Pakistan. I am planning to do ICAEW after ACCA as I will be exempt from whole of the professional stage of ICAEW.

I know that it sounds a little silly to go for one professional body after another but I just want to do this because of ICAEW's reciprocity arrangements with a lot of other accountancy bodies.

However, after getting registered with ICAEW, I will complete my ACCA and ICAEW training simultaneously most probably from a BIG 4 firm in Pakistan or UAE. My question is that will my public practice experience from a big 4 firm in Pakistan be recognized by Australian ICAA or Canadian CICA to become a CICA or ICAA member through their reciprocity arrangement with ICAEW.

Best regards

Biogentic

Hi, is the ICAEW membership useful if i dun have the desire to migrate to australia or U.K? i am soon to complete the acca exams and i hope my prospective employer can offer me a training contract. i find the ICAEW membership quite attractive and certainly do not mind to study additional 3 papers for that.

Adeelkhan

Hello Guys,

I recently confirmed with ICAA and they confirmed that i have to pass whole that is entire course of ICAEW to be eligible for ICAA membership. Therefore it is concluded that ACCA members claiming ICAEW membership either due to MRA or through passing further papers and meeting experience requirement are not eligible to enjoy this benefit.

It's discouraging for ACCA members and i think GAA is basically made to strengthen the market position of GAA members because although we can claim ICAEW membership so why not all others ?

Adeelkhan

Hello,
It was said that:
Maybe a silly question but why do the ACA qualification if you can get into Australia on the ACCA one?????

But in my opinion getting into Australia is one thing but the education and experience valued by the employers is a different and seperate thing.

As it is increasingly noted in this forum that education(CA from third world countries) and experience in developing countries are not valued but they can get into Australia. But are they successful in securing job for which years have been spent?

Although as i know CA (PAK) students who work hard alot more than us (ACCA students) but they are valued not everywhere to the same extent as in Pakistan. I also heard about ICAI that their students work hard as well. As in one forum Hell Boy told that US (CPA) is not as hard as ACCA.

Therefore working hard is another thing and valued by employers is another thing.

Adeelkhan

Hello Jaj,

If i go overseas with membership of ICAEW. Will it be valued equally and identically by employers as compared to local qualification? I mean how far it will help me if i go overseas like Canada/Australia/New Zealand/US?