Practicing cert;??

jennypeny

Practicing cert;

Hi All,

I am ACCA qualified and I had started to fill in the necessary documentation to apply for a practicing cert only to find out my employer is not a registered ACCA employer. Therefore from what I can gather my experience is work nada if I wanted a cert from my own a.c Body.

Does anyone know a way around this in that I can apply for a cert through a different body? I ideally wanted one from the body I studied with however I am not in a position to start all over again with a registered employer (not that there are any jobs anyway).

Any ideas or how I can go about combating this?

S

smcgiff

You could join CPA afaik and you'd qualify for a practicing cert - membership and PC fees are a nice bit more than ACCA.

You could also join the IIPA, but they charge HUGH PC fees.

dbran

Hi jenny

I dont think so. Even you you were to move AFAIK you still have to have 2 years post qualification experience signed off by a recognised principle ie a qualified accountant. I don't think CPA and IIPA are allowed to simply give certs away without checking the experience record. There are EU regulations about this.

Kind Regards


dbran

jennypeny

Oh of course I don’t expect to just be given a cert, I know I will still have to get records signed off and my employers are registered and they do hold a practicing cert they are just not a registered ACCA practice hence why I can not get an ACCA cert.
The very unhelpful person at ACCA told me to work for free at a registered practice!! I would like to know how I am supposed to hold down two full time jobs one of theme being for free! Besides the point anyway…

I don’t want to change my qualification I trained ACCA and would like to stay ACCA I would just like to hold a p/cert from a different body. I don’t know if this is even possible as I only found out today my ER is not approved. I am quite annoyed that I just assumed it before.

In order to get a CPA cert do I just need to get the forms filled in by my employer with the relevant work exp etc or what? I’m slightly peeved today and a little confused about the whole thing tbh.

ianuss

I'm a little confused. Are you just talking about your required 3 years work experience? Or something else?

Because it's my understanding that you only have to have your work experience signed off on by a qualified accountant - not necessarily an ACCA one, just a qualified one.

dbran

Hi

it is confusing but I believe if you are just going for your letters you need to have just a qualified accountant or "workplace mentor" sign off your TDM.

if you are going for a practicing cert it has to be via an approved employer

Being an approved employer is tough because
1) you get extra monitoring visits from ACCA
2) more chance of your staff nicking your clients when they leave.

dbran

smcgiff

Hi Jenny - Have you two years post qualified experience? I assumed you had, otherwise there's no way you can get a PC.

J.Ryan

Is your current employer a registered auditor or are they just an accounting firm operated by a qualified accountant? - It could be as simple as you would get a practicing cert but not an auditing cert.

If they are a Registered (or is it statutory now) Audit firm (a member firm of a RSB that is a member of IAASA) I can't imagine how the ACCA can refuse to recognise the experience, but, I'm open to correction on that.

If you are going for an Auditing Cert., as opposed to a Practicing Cert. do you have the required PQE in Audit, with so many small companies being audit exempt now this is going to be harder and harder to acheive.

jennypeny

No to clear up any confusion I have my letters I an a fully fledged member. I know your employer does not need to be registered to sign off for my letters I am speaking here soley about the 2 years experience post entrance into acca mbership that I need to get a practicing certificate.


This is where my problems are occurring in that I do not want to change accountancy body, I do not want to move job and re start this experience so I am wondering if I can remain an acca member and get a practicing cert from another body and if so how do I go about it so a can ensure my employer signs the correct documents.

Also it's just practice not an auditing cert I require. I believe they are registered with the IIPA .

This may sound like a stupid question but if I applied for a cert via IIPA would I still be an Acca or do I have to give up my acca letters?

Sorry if I am confusing anyone!

J.Ryan

What body do your employers belong to?

You won't get a practicing cert from any other body without becoming a member there and that could be expensive enough.

dbran

Hi Jenny

I believe you will also have to have a cert from the ACCA also even if you do get one from another body unless you resign your membership of the ACCA entirely. At least that was what I read when I was renewing my own practising cert this morning!!

Kind Regards


dbran

smcgiff

Jenny if you have two years post qualification experience and can get it signed off by a qualified accountant you can become a member of CPA and get a practicing certificate.

You will need to get insurance, nominate a willing practice to take over your clients in case you cannot continue to practice. I also believe you may have to resign from ACCA as they would not condone you practicing (regardless of being licenced by another body) although I'm not 100% sure on this.

Your firm does not need to be registered with the CPA to qualify.

The cost of the practicing cert with the CPA is several hundred, but the practicing cert with the IIPA is several thousand - a few hundred short of 4 thousand I believe.

J.Ryan

smcgiff wrote: »

Jenny if you have two years post qualification experience and can get it signed off by a qualified accountant you can become a member of CPA and get a practicing certificate.

After having 8 hours audit CPD in the last 12 months before your application plus completing the practice orientation course (the audit one too the next day if you are also after an auditing cert), the exams at the end of both days arn't that bad (from memory)

smcgiff wrote: »

You will need to get insurance, nominate a willing practice to take over your clients in case you cannot continue to practice. I also believe you may have to resign from ACCA as they would not condone you practicing (regardless of being licenced by another body) although I'm not 100% sure on this.

The insurance and continuity of practice are standard with all bodies, they do all have different insurance requirements.

smcgiff wrote: »

Your firm does not need to be registered with the CPA to qualify.

http://www.cpaireland.ie/UserFiles/File/Practising%20certificate/APME.pdf
CPD cycle under the last heading is incorrect (and hasn't been updated either)

smcgiff wrote: »

The cost of the practicing cert with the CPA is several hundred, but the practicing cert with the IIPA is several thousand - a few hundred short of 4 thousand I believe.

You're not comparing like with like, my friend, IIPA cert holders get 25 (I think, could be more) CPD points from Omnipro, among other benefits. The last practice I was an employee of was a CPA practice and I recall the partner complaining of invoices for;
Practicing Cert.,
Auditing Cert. &
Investment Intermediatory Cert. (have a read of what is considered investment advice)

smcgiff

JRYAN,

This is getting away from the OP's post especially bearing in mind she has no intention of going for the auditing cert. However, ACCA and others have done away with the exams for the auditing cert as the final auditing exam in the course proper is deemed enough.

J.Ryan wrote: »

The insurance and continuity of practice are standard with all bodies, they do all have different insurance requirements.

Correct, but what's your point?!?

J.Ryan wrote: »

http://www.cpaireland.ie/UserFiles/File/Practising%20certificate/APME.pdf
CPD cycle under the last heading is incorrect (and hasn't been updated either)

So, you're agreeing with me? Thanks

J.Ryan wrote: »

You're not comparing like with like, my friend, IIPA cert holders get 25 (I think, could be more) CPD points from Omnipro, among other benefits.

Right, ye're practically giving it away :rolleyes: It still works out considerably more expensive.

jennypeny

Great Advice, Unfortunately not what I wanted to hear :mad: in that I trained ACCA I want to stay ACCA and I cant believe after all this work I now cant get a p.cert with them and Im going to have to change body to get one. I was told when I started my Job they were ACCA approved and to find out now they arnt it quite a kick.

Without asking more stupid question here but how many hours a week of the 2 years PQE needs to be with a registered employeer. I.e if I could somehow find some form of approved mentor to sign it off. I dont want to keep ringing the acca and drawing attention to myself or my applications will be flagged for check up!

J.Ryan

smcgiff wrote: »

....Right, ye're practically giving it away :rolleyes: It still works out considerably more expensive.

Hmmmm

Is this where I should say that one of the bodies I'm a member of is CPA.




I was informing the OP of the CPA requirement for a Practicing Cert, she will have to sit and pass an exam (not too hard to be honest, but it is after a day of CPD) in Cork in Jan or Dublin (I think, Clarion Airport Hotel when I sat them) in September.

smcgiff

J.Ryan wrote: »

Hmmmm

I was informing the OP of the CPA requirement for a Practicing Cert, she will have to sit and pass an exam (not too hard to be honest, but it is after a day of CPD) in Cork in Jan or Dublin (I think, Clarion Airport Hotel when I sat them) in September.

Ha! Ha!

Didn't realise any body still required this.

smcgiff

jennypeny wrote: »

Great Advice, Unfortunately not what I wanted to hear :mad: in that I trained ACCA I want to stay ACCA and I cant believe after all this work I now cant get a p.cert with them and Im going to have to change body to get one. I was told when I started my Job they were ACCA approved and to find out now they arnt it quite a kick.

Without asking more stupid question here but how many hours a week of the 2 years PQE needs to be with a registered employeer. I.e if I could somehow find some form of approved mentor to sign it off. I dont want to keep ringing the acca and drawing attention to myself or my applications will be flagged for check up!

That's a pain alright, Penny. That's some employer you have.

You could try ringing the ACCA up saying you will need to leave the ACCA unless they recognise the post qual experience you have to see if they'll budge.

However, I would not recommend falsifying your records. If you get caught out you'll most likely get expelled and all your work could be wasted.

tenchi-fan

jennypeny wrote: »

:mad: in that I trained ACCA I want to stay ACCA and I cant believe after all this work I now cant get a p.cert with them and Im going to have to change body to get one.

jennypeny, i take it you're newly qualified.

A few weeks ago you posted that bizarre question about your "friend" who wanted to set up a limited company with "accountant in the name" that did accounting work even though you don't yet have a practicing cert.. e.g you'd prepare a tax comp and your client would sign it. That was worrying enough, for a qualified accountant to ask this!

Then you posted a message saying you'd have your practicing cert within 18 months... until now, you find out you aren't even working for an approved practice.

I have my doubts another accounting body will admit you as a member just so you can circumvent acca's requirements for a practicing certificate.

I know you are probably using boards as a way of researching topics but for someone considering setting up their own practice you seem to have very little grasp of what will be expected of you.

For example, you're just after asking "how many hours a week of the 2 years PQE needs to be with a registered employeer".. presumably you need full time hours - like a 35 hour week.

The people in ACCA who you describe as "unhelpful" probably aren't qualified accountants and they can only give you general information about the actual paperwork and experience you need. I think you are wasting their time and your own time by asking convoluted questions when all you really need to know is on accaglobal.com and in the acca rulebook (which you should be familiar with!). I know it's a lot of reading but if you're serious about going into practice I suggest you read it. It may save you a lot of hassle in future.

Mods, if I crossed the line feel free to delete this post.