Switching job mid-contract? CA

Dick Turnip

Little bit of info - Im in a very small practise (~10people) in Dublin and will be sitting my cap1 exams in may. Ive been working in the place for a year and a half but only the last 10months or so have been under contract with icai. I worked for a few months at the start before signing a contract as i had a non accounting/business degree background and wanted to see if i liked it first.

So theres the background. Anyway ive come to the point where im extremly fed up with my current situation. I want to move badly to a mid-size or large firm, not just for the opportunities but also for my own sanity! The firm im with have no system or training in place and i feel this is affecting me hugely. Also im the only person in the firm sitting cap1 so next year i would like to be in a place where there will at least be a few people in the place sitting the same exams.

So what im wondering is, are there many opportunities out there for people to switch mid contract? I know my current employers could kick up a fuss but are there many firms willing to take on someone for only the remainder of their contract? Also is this the right time to move? or have most places already offered training contracts for the coming year?

Dick Turnip

Oh come on people! Any advice much appreciated:D

Do i take it from the hostile (well lack of any) response that the stigma of switching mid contract is too much for some people?!

Fruiti

I think maybe the lack of response could be that people don't know the exact answer!! basically, i don't know anyone who switched mid contract and managed to have the time aggregated at both firms to make up the required 3.5 years. AFAIK the ICAI are v strict on this and the 3.5 years must be completed with one firm! so your only option if you're definite about leaving would be to begin a new contract with a different firm. also - if your current firm have paid your cap 1 fees they might try to get them back from you - im not sure how that works. sorry for not having a better answer for you! you should probably contact the ICAI and ask them whether it's even possible - then consider whether it's viable. most of the bigger firms would already have their recruitment done for sept/oct 2008 so you may have to wait another year or hope for a mid year vacancy.

Kingkong

You can switch contracts. As far as im aware it requires a letter from your current employer confirming you have completed part of your work experience. Talk to the institute in any case first they must deal with this regularly.

Fruiti

well there you go!! I was sure it was impossible! good luck!

Leon11

We had the student advisor in from ICAI last October and he said that it's possible to switch firms. He said it can take a few weeks but I imagine it's worth it!

Dick Turnip

Thanks for the replies!

I know its possible anyway, as one person left the practise a few years back but she was moving down the country with her fiancee so the partners had no issue with.
Someone said alright that i might have to pay back the fees, but id be ok with that as it would be worth it in the long run.
Ill pop in to the institute next week when im off to see if i get advice off someone alright, no point ringing them as they never seem to answer the phones in there!

I wasnt looking for a big 4 job anyway, but ive seen a smaller top 20/30 practises with positions available still, so ive applied to a few and hopefully a few interviews will materialise in the coming weeks.
Ill keep ye posted!:D

dooloo

Yes you can switch contract during the 3.5 years but the only possible issue is that your existing employer can refuse to let you go from your contract.

Many firms prefer to employ ACA students because of the fact that they can hold you on a 3.5 year contract.

On the brighter side, you should have no problem attaining a position in another firm. Good semi qualified staff with at least one year's experience are like gold dust in the industry.