ACA vs ACCA vs CPA

Kinetic^ · 11-12-2006 12:38pm #1

Right this argument has been around for years.......and no doubt will never be resolved.

I've been a firm believer that ACA was 100% the No.1 accounting qualification in Ireland for a while now but I'm in some doubt atm though.

Having recently done several interviews in ACA and mixed firms, it's been made fairly obvious to me........ACA don't monitor their firms enough. I've been told by several partners that they get monitored by ACCA every 2/3 years so there files have to be perfect. The same partners said that ACA don't review their work at all :eek:

This is very alarming to me..........surely a professional body can't expect to keep it's reputation without some sort of monitoring system? Hopefully I'll be qualified in a 2 years but will it be worth anything? Will this lack of standards be the downfall of ACA?

How CPA cover this? or do they?

kluivert · 11-12-2006 2:40pm

In regards to Monitoring, all associations monitor firms, the difference is the degree in which they monitor firms.

ACCA would be the most detailed of the three with mandatory inspections at least every three years.

As I have been informed this is becoming more popular in Ireland as in the UK they have fewer audit cases due to the higher thresholds.

CPA have a support service inwhich they will come into the practice if you have a problem and explain and show you how to change it or implement new systems to meet requirements.

ACA monitor firms but not to the extent that ACCA do.

There is no real answer as to which organisation is the best, its really down to the man or woman

that counts.

Kinetic^ · 11-12-2006 3:13pm

From what I've been told, it exists within ACA but it's very rarely put into practice. One of the people interviewing me said that he couldn't remember the last time ACA reviewed their files yet he could with ACCA.

My point is that ACA (the organisation that is) holds itself in high regard, but they seem unwilling to maintain that name and I'm rather worried where that is going to leave me, as a future member.

kluivert · 11-12-2006 5:00pm

Really thats just one aspect of ACA, when it comes to technical points in regards to accounting and auditing they are very good, and alot of their members are technically very good is this area.

I dont think your status as a ACA member will be called into dis-repute

because ACA dont monitor firms as much as ACCA or CPA.

ACCA focus more on accountants as financial managers within multinational organsiations.

Kinetic^ · 11-12-2006 5:36pm

Point taken kluivert. If the Big 4 weren't predominantly ACA, I'd say it would be a different story though. The fact that the Big 4 push students to do ACA pretty much has them with the vast majority of trainees, ACA that is. Without them the ACA would be bankrupt I would imagine.

I'm probably reading into it a little too much but it does give one food for thought in respect to what route to take.

I still feel however that they should monitor firms a little more.

I was at my previous firm 2 years, and a friend was there 3 years before me and he can't even remember if ACA visited.

kluivert · 11-12-2006 6:00pm

At the end of the day, its the same as the Audi v VW debate.

Its the same parts underneath the hood, just a different badge.

Same theory in my opinion applies to ACCA v ACA.

I done ACCA because it afforded me more exemptions than ACA because I done my degree in a IT rather than a Uni in Dublin.

I always liked the idea of working in Oz or something with a global recognised organisation.

I also thought I would work as a finacial controller or management accountant in industry.

Hence my reason for ACCA, but everyone is different.

The idea was Accounting & Auditing = ACA.
Financial Services, Financial and Management Accounting = ACCA.

Kinetic^ · 11-12-2006 6:05pm

Well you can keep your management accounting, I fudging hate the thing!!!!!

spaceballs · 17-12-2006 10:17pm

I've worked for 6 years between two firms and we had a total of 4 ACA inspections over that time, with another one coming up in the new year so I would say they give plenty of time monitoring their firms.

The first firm I was with was a mixed training firm with a majority of ACCA over ACA among the partners and we never had an ACCA inspection. I'm not actually sure if you can have more then one institute monitoring over a firm.

As far as CPA is concerned, I don't know too much about it but I know someone who set up a firm when he was a CPA and because he felt he was getting very little support from them ended up having to join the ACCA.

I am ACA and I am happy that I chose ACA over the others because it is generally perceived to be the best of the institutes, ie. purely from an image point of view, which obviously can't be a bad thing. However I've seen too many qualified ACA who I wouldn't rate and enough strong ACCA (along with weak ones) to think that being a member of one over the other means anything when it comes to how good you are at your job.

As far as the difference between the qualifications goes I think the firm you choose to train with is more important then the qualification. A good training firm should give you exposure to all aspects of accounting, auditing and tax. Train in too small a place and you may never get any experience on the larger jobs where you get to see the more varied and complex areas of the job. Train in too big a firm and you may never get to work on and therefore fully understand the basics of accounting and if you can't understand the basics your really not up to much at all.

An example of this would be when I did my finals two years ago there was a question on the auditing paper worth 20% that was basically how to do a creditors reconciliation. A very simple question for anyone who trained in a small or medium sized firm that could be done in 5 minutes. One which all but one of the Big 4 trainees I spoke to were complaining about because they had never seen such a thing before.

That's not to say big 4 trained people are not that good, just that I think if you want to get a good all round training, say you want to set up on your own or something and need to know about all aspects of the job, then maybe staying outside of the top 4, and possibly the top 10 until you're qualified and then go to a bigger firm to get some additional experience on any particular area which during your training you decided you were interested in more then another.

Kinetic^ · 17-12-2006 10:22pm

Great post spaceballs. Very informative.

sylfeng · 27-01-2007 10:52pm

What's the difference between CPA in Ireland and CPA in the US?

smcgiff · 28-01-2007 12:19am

sylfeng wrote:

What's the difference between CPA in Ireland and CPA in the US?

About $100k pa! Ba Dum Tish!

Kinetic^ · 29-01-2007 10:30am

smcgiff wrote:

About $100k pa! Ba Dum Tish!

:rolleyes: Mods, can we get a warning for cringeworthy jokes!!!

smcgiff · 29-01-2007 12:31pm

Kenny 5 wrote:

:rolleyes: Mods, can we get a warning for cringeworthy jokes!!!

But.... But... that's all I got!

Kinetic^ · 29-01-2007 12:35pm

smcgiff wrote:

But.... But... that's all I got!

Poor effort......at best!!!

smcgiff · 29-01-2007 12:38pm

sylfeng wrote:

What's the difference between CPA in Ireland and CPA in the US?

Okay Okay fair question...

CPA in the US would be regarded as the Premier qualification. It's so ubiquitous people call accountants CPAs and so the terms CPA and accountant are interchangeable. Although using the term Certified it would be a sister organisation to the Chartered's in the UK and Ireland, and afaik would have a close enough relationship with same.

As for CPA Ireland - it also has the designation CPA. Similarities end there.

smcgiff · 29-01-2007 12:39pm

Kenny 5 wrote:

Poor effort......at best!!!

Oh - they'll get worse. FAR worse!

Kinetic^ · 29-01-2007 12:40pm

Yeah whoever setup CPA over here was a smart git.

sylfeng · 30-01-2007 10:23pm

Thanks a million!

I think I will choose ACA rather than CPA in Ireland.

smcgiff wrote:

Okay Okay fair question...

CPA in the US would be regarded as the Premier qualification. It's so ubiquitous people call accountants CPAs and so the terms CPA and accountant are interchangeable. Although using the term Certified it would be a sister organisation to the Chartered's in the UK and Ireland, and afaik would have a close enough relationship with same.

As for CPA Ireland - it also has the designation CPA. Similarities end there.

smcgiff · 31-01-2007 11:43am

sylfeng wrote:

Thanks a million! I think I will choose ACA rather than CPA in Ireland.

Try *Cough* ACCA *Cough*

Kinetic^ · 31-01-2007 3:32pm

smcgiff wrote:

Try *Cough* ACCA *Cough*

Yeah ACCA or CIMA are out there too. Do your research before making up your mind.

Bren1609 · 10-02-2007 6:45pm

Did anyone hear the CIMA ads on the newstalk morning show? They take a bit of a swipe at CPA. Apparantley CPA have passed out CIMA in membership numbers so they launched this radio campaign.

Kinetic^ · 10-02-2007 9:25pm

That's just sad imo.

shamblertine · 11-02-2007 12:36am

isn't cima the fastest growing uk based accountancy body for membership in the UK and Ireland

Bren1609 · 11-02-2007 3:50pm

Can't comment on the growth rates, have a listen to the ads though. I was thinking of doing the AITI exams, heard the final year is a killer. Has anyone sat them or know much about them?

apple85 · 08-09-2009 4:42pm

" I done ACCA because it afforded me more exemptions than ACA because I done my degree in a IT rather than a Uni in Dublin. "

With grammar like that I'm surprised you got either qualification !

soddy1979 · 08-09-2009 5:17pm

apple85 wrote: »

" I done ACCA because it afforded me more exemptions than ACA because I done my degree in a IT rather than a Uni in Dublin. "

With grammar like that I'm surprised you got either qualification !

Apple85. Your not currently seeking a CFA designation are you?

ma.long25 · 08-09-2009 7:55pm

In ireland a lot of my friends called cpa= car part attendent, thats because it is not very well recognised in Ireland!!

Hackysack · 09-09-2009 1:51am

I honestly don't know much about CPA myself, but i've heard the term 'cut-price-accountant' being thrown around. I found it funny at the time, but on reflection... i'm not sure why.

Bren1609 · 09-09-2009 9:30am

Lads, this thread is over 2 years old

Shurwhynot · 09-09-2009 10:02am

I find the fact that people value ACCA or ACA ahead of CPA as ridiculous...an accountant is an accountant at the end of the day and those who qualify as a chartered are just believing their own bull****. Head out of yer arses lads

BERBA · 10-09-2009 8:53am

ma.long25 wrote: »

In ireland a lot of my friends called cpa= car part attendent, thats because it is not very well recognised in Ireland!!

Absolute rubbish. imo an accountancy qualification is just that! As for the above cpa jibe , try acca = any cnut can add !!!:D

ACA vs ACCA vs CPA

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