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Which accountancy body?

  • #1
    Registered Users Posts: 3 hellylenn


    Hi, I’m recently finished my final accounting technician exams. I’m thinking of professional exams but wondering which body is best to go with? I’m thinking Chartered Accountants Ireland. My friend is close to completing her CPA exams and had told me I’m mad as she says it’s impossible to pass their exams. Has anyone any feedback or advice on this? Thanks in advance


Comments



  • I don't believe there is much difference between any of the major accounting bodies... They all have their own emphasis and they all are difficult to achieve. And with good reason, as my training partner (RIP) used to say: The client does not pay you to get it almost right.... people make decisions based on you advice and for your client or employer it can have serious financial consequences.

    I'd also say that after 10 years experience in what ever area you get involved in, it will make no difference which accountancy body you are a member of, assuming is one the major ones, such as CA, ACCA or CIMA.

    I would say your chances of qualifying is far more dependant on your situation rather than the institution you decide to go with. If you are organised, hard working and willing to make the effort there is no reason why you should not make it. It is very much in your hands.




  • Your friend's claims don't really stack up. Let's look at 2019 results for chartered:

    CAP 1: 80% passed everything, 14% passed 1 or more exams. Weighted average pass rate across all papers for first attempts was 90%.

    CAP 2: 67% passed everything, 22% passed 1 or more exams. Weighted average pass rate across all papers for first attempts was 83%.

    I think it's worth noting that CAP 2 is objectively the most technically difficult stage of the exams. The technical difficulty of the questions is higher than for FAE, which has a very different focus (CAP 2: can you do the technical work to value this company for an M&A and can you consolidate these FS... whereas FAE is more like: Can you function as a professional and look at a scenario being aware that one plan might have financial accounting, financing, tax, audit and technological implications for the business, can you quantify and explain those implications in a clear manner)

    FAE 2019:
    78% of students passed everything they sat. A further 15% passed either core or elective. Only 7% failed outright. A whopping 93% passed the core exam.

    Do you work somewhere with a chartered accountant who can sign off on your experience? Are you planning to move jobs? What do you want from this? If you're staying put in your job, how will they treat study leave? Without getting a sense for that, it's hard to advise.




  • hellylenn wrote: »
    Hi, I’m recently finished my final accounting technician exams. I’m thinking of professional exams but wondering which body is best to go with? I’m thinking Chartered Accountants Ireland. My friend is close to completing her CPA exams and had told me I’m mad as she says it’s impossible to pass their exams. Has anyone any feedback or advice on this? Thanks in advance


    I once worked with a guy in practice who was adamant he was going the CPA Ireland route as he stated frequently “sure there so much easier than ACCA or ACA they will be a doddle”,
    Long story short he failed his Prof 1’s four times and so didn’t even get as far as his finals( Prof 2), you get 4 chances and if you fail your back to square one with CPA.

    From what I see of him on LinkedIn he is doing his FAE’s this summer.

    All the various professionals exams are a tough hard slog whatever ones you do, you will work hard, I work with accountants who are members from all four bodies, (ACA,ACCA,CPA,CIMA.
    All do the same work, same salary, etc.


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