CPA or ACCA

robbie checker

I qualified as an ACCA and am considering applying for a practising certificate. I have heard of people qualifying as an ACCA and then obtaining membership of CPA to get their practising cert through CPA as the cert is easier to get. Has anyone any experience of this?

smcgiff

robbie checker wrote:

I qualified as an ACCA and am considering applying for a practising certificate. I have heard of people qualifying as an ACCA and then obtaining membership of CPA to get their practising cert through CPA as the cert is easier to get. Has anyone any experience of this?

A friend of mine is a CPA. It's somewhat easier. You just need two years PQE (doesn't need to be in practice). You then need to attend a course and take an exam.

With ACCA you need to have spent the three years with an approved employer - (doesn't need to be in practice - 2 years PQE). Then you sit an exam after taking a weekend course. During the 2 years PQE you and your employer are subject to ACCA's scrutiny.

Triple A

I completed the ACCA Practicing Certificate "Exams" in September 2005.

It was a two day course with an afternoon exam. The two day course pretty much covered the material to be examined.

There was also a case study to be handed in. A number of questions were asked and you basically set out how you would deal with them. Again this would be relevant to the final examination.

All in all it was not near as bad as what i thought it would be.

Bren1609

I think i can shed some light on this. The reason why ACCA accountants are applying for practicing certs from CPA is because:

ACCA is a UK institute and ACCA's in Ireland are regulated by the UK. In the UK I understand that the audit exemption limit is higher than it is in Ireland, therefore when the ACCA would audit/inspect a practice in Ireland they would expect the same type of standard in the audit file for a company with a €3m turnover as a company with a €20m turnover which is just not feasible as you cannot charge a compnay with a €3m turnover the same as a co with a €20m turnover.

Make sense?

Bren1609

On another topic, ACCA accountants applying to CPA? Why dont they just do CPA?

robbie checker

At the time of deciding which course to go for, because the ACCA exams are twice a year and the CPA are once a year, I was exempt level one of the ACCA and it was possible to complete the other 11 exams in two years. The CPA would have taken 3 years to complete. CPA used to be the lesser recognised of the 3 accountancy bodies although I think this is no longer the case. Because the CPA is a smaller accountancy body, I have heard that the support service is very good. Also, being based in Ireland, I think there is more emphasis on the challenges facing accountants in Ireland. ACCA is an international accounting body and its accountanct magazine focuses on issues around the world in countries such as Singapore, Hong Kong etc. Although ACCA does issue a good magazine "In Practice" which is for members in practice and which is very good as that is the area I work in.

smcgiff

Bren1609 wrote:

Make sense?

Nope - An Irish ACCA practice is subject to Irish regulation.

Bren1609

But it is a UK institute. When ACCA inspect an Irish practice they expect the same standards in the audit files based on UK regulations.

Make sense now?

smcgiff

Bren1609 wrote:

But it is a UK institute. When ACCA inspect an Irish practice they expect the same standards in the audit files based on UK regulations.

Make sense now?

ACCA Ireland
9 Leeson Park
Dublin 6

tel: +353 (0)1 498 8900
fax: +353 (0)1 496 3615
e-mail: info@ie.accaglobal.com

It definitely does not apply UK regulations. It applies Irish regulations. Similarly, in Poland etc, it applies Polish regulations.

Bren1609

Standards not regulations.
They expect the same standard of audit file across the board. A company that is not audit exempt in Irl may be audit exempt in UK. However, if ACCA inspect a practice they expect the same standard of audit file ie they expect the same audit file for a co with €3m t/o as a co with €20m t/o. Part of the reason why audit exemption was raised recently.

smcgiff

Bren1609 wrote:

Standards not regulations.
They expect the same standard of audit file across the board. A company that is not audit exempt in Irl may be audit exempt in UK. However, if ACCA inspect a practice they expect the same standard of audit file ie they expect the same audit file for a co with €3m t/o as a co with €20m t/o. Part of the reason why audit exemption was raised recently.

Good to know the public can expect an ACCA audited company to have been audited to a higher standard.

Bren1609

Try charging them for it and see how good they feel.

smcgiff

Bren1609 wrote:

Try charging them for it and see how good they feel.

Standards shouldn't have a price.

Bren1609

Everything has a price.

Try setting up a practice and charge a client the same audit fee for €3m co as that of a €20m co and then tell them "standards have no price".

BERBA

Yaaaaaaaaaaaaaaaawwwwwwwwwwwwwwnnnnnnnnnnnnnnnn:

smcgiff

Bren1609 wrote:

Everything has a price.

Try setting up a practice and charge a client the same audit fee for €3m co as that of a €20m co and then tell them "standards have no price".

If you want to go down that road shouldn't the question really be...

CPA Vs IIPA

???

BERBA wrote:

Yaaaaaaaaaaaaaaaawwwwwwwwwwwwwwnnnnnnnnnnnnnnnn:

I dunno, Berba, I'm having great fun!

Bren1609

smcgiff wrote:

If you want to go down that road shouldn't the question really be...

CPA Vs IIPA

???QUOTE]

What exactly is your point on this thread?

4pointplay

Bren1609 wrote: »

smcgiff wrote:

If you want to go down that road shouldn't the question really be...

CPA Vs IIPA

???QUOTE]

What exactly is your point on this thread?

You have been exposed on the proc you gimp.

smcgiff

Seeing as this thread is now more about Bren and 4point's deteriorating relationship it might be best to close this thread.

Besides everyone knows that ACCA would be the only sane choice!

The CCAinsider

ACCA and CPA have two types of practicing certificate. An audit certificate and a non audit certificate. The non audit is easy enough to get, the audit one is more difficult.

For the audit practicing certificate, CPA’s require a 2 day course and test (it is a weekend course) and ACCA requires a 3 day course and 2 tests. One of the ACCA tests is open book and done at home (you have 10 days to do it) and one is under normal exam conditions. All of the tests are really practical and if you fail you probably should not be in practice.

In addition to the course and test, to get audit registration, ACCA require that you get 3 years (2 must be post qualification) experience in a firm that has registered with ACCA as a training firm. Training firms are monitored by ACCA for the quality of the training. CPA have a similar requirement but the firms do not need to register and there is no ongoing monitoring. If you train in a firm that was not ACCA registered you are in trouble and some people solve this by getting a CPA practicing certificate because it is easier to get.

ACCA, being recognised in the UK and Ireland has to satisfy a regulator in the UK and Ireland, and passing the Irish practice course gives you audit status in the UK and Ireland (…and the Channel Islands, Jersey, Isle of man etc…). The CPA one only gives you audit registration in ROI.

haseebjaskani

is there any one tell me how much ACCA have exemption in CPAS

smcgiff

Old thread closed - noting it contains out of date info.

PM sent to OP