After speaking to IAB this morning they directed me to NDAC (National Database of Accreditated Qualifications). This is the Accreditation body for all UK qualificaions from Accounts to Medical qualifications.
This explains why the ICB are on their own and why you should be careful before taking their qualifications. There is no route to move on from their qualifications.
This is the link for NDAC, you will find all UK qualifications on there including IAB, AAT, ACCA, CIMA, IFA and all other accounting qualifications.
I think you miss the point a little louis. We all, in the field, know what the ICB qualifications are worth. We all know that if you want to progress in bookkeeping and accountancy ICB isn't really the way. But for self employed people it works. I mean, what are self employed bookkeepers looking for? The answer I think is to let their clients know they're legitimate. What better way than having an official looking crest on your paperwork and website. It was said before on this site that the ICB crest looks better than the IAB logo for this purpose, and I agree. It's all about image. And the first thing people are confronted with if they decided to check this out? A very official looking website with their patron His Royal Highness Prince Michael of Kent GCVO. How can that not look good?
The point I make is that it's horses for courses. If you want to progress in the field of course ICB wouldn't be your first stop, but if you want to become self employed in a world like bookkeeping and accountancy, where lets remember anyone can call themselves a bookkeeper or accountant with no knowledge or qualifications, ICB serves a purpose.
Personally I went the ICB route because of a pushy college salesman talking me out of AAT. That doesn't mean the learning ends there. But it does allow me to trade.
The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
Shall I start to worry now? I am studying with ICAEW and they are not on the list! Does it mean even if I complete the whole ACA it will worth nothing?
Watch that space with the qualifications. They are known as Ofqual now and we all know that Dr Philip Dunn is now involved in education and development at the ICB. Maybe lots of questions answered here.
I think we have got some people on here who are beginning to get where I am coming from. Great topic Louis, perhaps this is where it should be for now. Whats that I hear? Groaning?
your OK, Philip Dunn is ICAEW (and AAT (amongst many others)). Fingers crossed he'll also get recognition of the ICB qualification sorted out.
Then again, as he's got accountantancy qualifications do you think that he understands bookkeeping!
That was a joke Garry! Despite what the ICB tell us we all know that for the most part accountants understand bookkeeping very well and I have every confidence that Doctor Dunn will eventually resolve their current issues over recognition espechially as he seems to have a flag in almost all of the various accountancy camps. (I don't think that there is any link between him and the ACCA but as he's ICAEW why would there be!).
-- Edited by Shamus on Wednesday 30th of June 2010 01:20:36 AM
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I'm going to an ICB thingy on 13 July and intend to ask the questions about recognition and the increase in the cost of manual exams etc etc etc
I'll let you know the feedback then.
I agree that ICB serves the purpose for the self employed re MLR etc which is why I chose that route, as it was the easiest to gain whats needed in a short space of time (before they changed things of course!!!). I have traded since 1991 without quals as I did not need them and still don't.
If you are serious about accounting, then I would go ACCA, AAT etc as employers look for these in higher positions and if you want to go blue chip, then they are a must. However, I also work in senior mgmt level in private co's dealing at high level with auditors, bankers and legals and do not need the quals.
it's my boys induction day at secondary school today so I'm working(!) from home.
That was pretty much why I joined up as well... Well, that and the fact that the ICB's logo looks good. (ok, I'm shallow!).
It sounds as though your roles are similar to mine. (dealing with auditors, bankers, management consultants, etc.... Not so much the legals for me).
I agree that in some instances the qualifications are not really necessary. They help you to get your foot in the door but once your there it's the knowledge rather than the qualifications that really matters.
I would say though that if you become a permanent member of staff in banking operations a serious qualification such as ACCA helps not just in the knowledge that you acquire but also to fit in with many of those you work with.
You must have noticed yourself that people from various disciplines tend to gravitate to each other.
Actually, there was a film a few years back. Planet of the Apes. I didn't much like the film (thought the 1960's version was better) but there was an interesting study made of the actors.
Some actors were dressed as Orangutans, others as Gorilla's and others as chimps. During breaks in filming the actors who had not met before filming all tended to congregate in groups of the same species no matter what age, race or religion they were in the real world. Strange but true.
Whats the old saying, birds of a feather flock together.
Must be why so many accountants marry other accountants!... Well, that and the hours that they have to put in other accountants are the only people that they ever get to meet.
Are you in sunny Brum today?
-- Edited by Shamus on Wednesday 30th of June 2010 08:29:05 AM
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
No, back from Brum now, so some normality back in my life!
I agree with the perm member of staff in banking, local government etc, quals will be required for you to move up the ladder.
I never did see the latest Planet of the Apes film although did see Get him to the Greek last week and although not a big Russell Brand fan, thought it was very funny.
The crest does look good, and yeah, I'm shallow too (or so the wife tells me!!)
Maybe ICB will get their qualifications accredited soon but I am sure they will charge more for them so they will have to work MUCH harder on their recognition in the industry. If you do AAT ABC it is fairly quick and cheap to achieve, start your bookkkeeping business and progress further to AAT accountancy qual. is still a much better option with more future oportunities. Ok they don't give you MLR cover so it will cost you more than ICB membership but I am sure it still works out cheaper - or it will if ICB puts their prices up because of accreditation.
Hi Shaun,
further opinions on CFAB. I see now more the advantages. It is the first six modules of ACA but no restrictions so I do gain time before I move forward to ACA and before restrictions. If I start ACA and pass a few exams I can't apply for a training contract (you know-the we pay for your studies type) only for experienced jobs with PwC (that's still my dream job) and no experience and just a few ACA exams would not get me a job. I can pass 6 ACA exams and get CFAB without it being considered as ACA so I can prove some knowledge and understanding to the company and apply for a training contract.
Thanks for the update. How are you finding the actual level of study for this one?
KPMG are pretty good as well. I've worked with them a few times.
Only thing that I would warn about any of the consultancies though is that you join up expecting to work your way up the accountancy ladder then suddenly find yourself working on IT integration projects with no way back into accountancy.
I have a friend who took a similar route to me but then joined Andersens (back when they still existed as Andersens rather than Accenture) to work in bank audit but the next thing he knows he's low level management on a banking IT development in Poland.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I am finding it great. I did need some time to get used to doing this level studies in a foreign language (English is a foreign language to me) but I am enjoying it lots. I am just finishing the Accounting module and I really like the part of studies going into accounting standards and financial reporting in more details. I urgently have to start the Assurance module to have some knowledge to support my application to PwC but I am sure I will have to apply a few times before I can get a chance for an interview for a training contract...once a year if not this year than I must succed next year. Would be great to get some at least half decent salary and get studies payed for. The number of applicants for these training contracts to the big four is worrying... I can't even decide shall I apply for general assurance or public sector. You see I have this feeling there is less applicants for the public sector one, but if I want to do it or not, I don't know... The only places open are in Southampton what I am not sure about either, I would prefer Gloucester or Birmingham but there is no open positions there for this year.
Let's see what happens and where all this will lead me.
Philip, perhaps you would let us know how you get on at the ICB "thingy" lol I was rather shocked to see the increase in the manual exam fees and on reading the exam centre rules I saw "finger and palm prints" if you have to leave the exam room for a break? You're apparently not allowed to take anything into the exam room, not even a watch! Nothing to drink either (peronsally I would want to take some water in, especially if the weather is as hot as it has been recently) and you have erasable white boards, no pen and paper (thought this was a manual exam). Already a little annoyed at having to take a "manual" exam on a computer!
What with the increase in exam fees, yearly membership fees, mlr fees and fees every time you upgrade your membership, beginning to wonder if it's all worth it. I only have two clients and don't plan on taking on too many more as only really want to work part time!
Get your £55 ready. Is there not any on the web site? If not the rules will be posted on the Pearson Vue site when you book. I think it is a voucher scheme. They e-mail you a voucher number or reference of some sort which you can use at any time at the Pearson Vue centre of your choice. I am pretty sure you can book online. Hold fire before taking the exam because I have heard there will be an exam simulation available to download. They might charge for it but I think it will be worthwhile to steady the nerves, not that you seem to be having any ha ha, and you will also get familiar with the interface and see how the questions are laid out.
Wouldnt mind having a go myself just to see how they have done it. I know it cost megabucks and they have had to set up several different tests, unlike before.
PV were pretty strict when I used to use them. You will need ID and you can not take any personal belongings in with you. If you take a break for the bathroom the clock keeps on ticking. Good thing with them though is that you get the result straight away.
Get there nice and early.
Good luck with it and let us know what it was like.
And Philip, I hope you enjoy the Garry Carter CPD show. I have to admit he is good at it though. Do let us have the gossip.
I also could not believe the hike in price - now £55!! Scandulous!
It would make sense to have some sort of simulation, otherwise how can you revise for an exam you do not know the style and content of? Its all been handled very badly really. This is one of the reasons of going to the Horsham event, to find out more.
Thanks for that Gary. Your either based in another country or like to keep the same hours as myself.
I'll wait and see what they (ICB) email out by he end of today. Online version should be available by the 5th July so I'll just wait on that as well. Patience isn't usually one of my better attributes.
The rules are on the ICB website now - I just wish they had a page indicating new things added to the website.
I did my driving theory test at the same place (I assume it will be the same place) a couple of years ago. I put off learning to drive until my 40's. My only fear (and it's a stupid one) is the people at the exam centre knowing how I got on in the exam. I remember after that exam the woman saying she had to give me the result to open myself as she wasn't allowed to let me know how I got on - then she added, "but you've passed anyway".
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Never buy black socks from a normal shop. They shaft you every time.
As you've found, the rules are to be found via a link on the ICB website. It says they email "eligible members" out a voucher and you can book online via that. I am an "eligible member" but I haven't had one yet, so guess I am going to have to contact them. (Or am I being premature?) I have been holding fire on booking the exam, mainly on the cost basis and also waiting for the mock exam to come out.
The manual exam before it changed used to be 3 hours, so don't know if the new one will be the same. Seems a bit silly to me having a manual exam on a computer...but what do I know!
In the last few moments I have received my confirmation to enable me to logon to book exams. They do state by the end of today, so I would wait until tomorrow at the earliest!
Unless its multiple choice, I do not like to read stuff on the screen and then have to work out examples, as I like to re-read pages as I'm working, will make things difficult!
It says they email "eligible members" out a voucher and you can book online via that. I am an "eligible member" but I haven't had one yet, so guess I am going to have to contact them. (Or am I being premature?)
It says it will email out a user name and password to eligible members and these should be issued by the end of today (Thursday 1st July). The voucher thng I think is when your learning provider includes the cost of the exam in their package.
__________________
Never buy black socks from a normal shop. They shaft you every time.
I've got my email from ICB. It says login in may take an hour for login details to become active. Two hours later and it still won't let me in. I don't want to hit any other buttons (forgot password etc) in case it messes things up. Ah well, I'll just have to try again tomorrow - have to go out now.
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Never buy black socks from a normal shop. They shaft you every time.
Well I've given it plenty of time to become active. I still can't get in. I did eventually request a new password. But I don't exist. Put in my name and email address but they've never heard of me. Thanks ICB. Any other forum and I'd have a sprinkling of swearies by this time. They're useless.
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Never buy black socks from a normal shop. They shaft you every time.
I am not sure if I am going to do any of the extra exams, I pay enough already, it would be cheaper to go direct to HMRC for money laundering, exams are not recognised anyway.
Very cross at the price, it seems to me that now most bookkeepers are members they have a new money making venture.
I wish I joined the AAT and not bothered with this con of an outfit.
Having just read this thread, I have a question too. My membership with the ICB is due for renewal next month and I have decided not to renew - it has taken 4 emails and a phon call to get them to accept this. I was told that going forward, under changes to be made to the Companies Act, I cannot be a bookkeeper unless I am with the ICB (or, I assume another bookkeeping body). The person I spoke to wouldn't really expand on that but I wondered if anyone knows if this is correct. I don't have any corporate clients so this isnt an issue for me at the current time but I wondered if anyone else had come across this.
I will have to look into that, but as far as I know anyone can be a book-keeper or accountant without any formal qualifications. It is a requirement that they are registered for money laundering, which can be done with HMRC at a cost of £120 per annum.
Sounds like ICB are desperate to keep current members.
I think you may be right - I had a real battle to bring my membership to an end, which even led to the Chief Exec there calling me - seemed a bit OTT! I wondered if he and I had crossed wires about being registered for money laundering but I double-checked that point with him. I have had a look through the Companies Act changes on the internet and cannot see any reference to this at all, and it hasnt been mentioned in any of the ICB newsletters that I have received (unless I have missed something there...).
I think they are going to lose a few members over this.
I took a look at the aat site today, I am going to ring them Monday, if I have to take more exams at my age and at that price I am going to get some that are worth taking.
Although I'm an ICB member (and pretty pleased with my hard-won qualifications) the weight of sceptical comments here is definitely beginning to make me wonder....
I am noticing that it is getting more expensive each year, and the ICB is not shy of finding new opportunities to charge you a little extra. Obviously I am going to have to make up my own mind whether the support and backup - which I actually do get from ICB - balances the costs they charge.
For the moment I think they do, BUT I was more than a little shocked to learn that, in the matter of annual MLR returns, the Institute intends to fine members (£50, I think) who submit them late.
I have no issue with submitting MLR Returns, but I absolutely do have an issue about an organisation - which should only exist to support its members - assuming the devine right to fine members over activities being carried out at the behest of the Government. That might very well turn into a resigning issue for me. We'll see how it goes.
I think that a lot of us joined the ICB on the same reasoning.
In my case like many others it was cheaper to join the ICB than get MLR directly from HMRC.
It used to be that even with the situation about the ICB not recognising the qualifications of other bodies you still only needed to pass two papers to get a practicing certificate.
Then it was three papers.
Then there is the seperation of Self Assessment and Payroll qualifications in order to provide those services.
Then there are the increased prices.
After an exchange between myself and the ICB in January I foolishly renewed my membership only for them to subsequently go back on everything suggested in their correspondence (such as CPD covering the additional exam requirements).
My practicing certificate will expire at the end of this month and I won't be renewing it, As such it invalidates the MLR cover which I won't need again now until Ocober when I'll either go direct to HMRC or transfer to the IAB who have already accepted me to join at FIAB level.
At least the IAB recognise ACCA and AAT qualifications and don't come out with statistics that they refuse to substantiate about people from other bodies being unable to pass ICB exams.
Of course, if you talk to anyone from the ICB they see things completely differently but that's the same with many organisations that they get so caught up in their own importance that they forget their very reason for existence.
This is not to say that there is anything wrong with the ICB qualification. It's actually a very good one and set at similar level to AAT fundamentals. Certainly if it were more widely recognised either by employers or for exemptions to qualifications such as AAT I would have no qualms about advising people to consider it as an option.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Hi J.R. I thought I'd do a little exercise - very quick - and list the things I like about the ICB:
* the Crest - I definitely like that sexy crest! (looks v good on stationery). * Prince Michael's patronage of the Institute (lots of gravitas when I invite prospective clients to check me out). * Dr Dunn's excellent teaching texts for the more complicated bookkeeping issues, and the opportunity to increase one's knowledge through the Study Corner. * The Institute's efforts in helping to carving out a distinct professional niche for bookkeepers. * The rigour of the exams (for my own satisfaction, that I can actually do it). * The free and rapid availability of professional advice on more or less any topic connected with running a boookkeeping practice. * Current news and professional updates regularly delivered. * The Job Vacancies board (though few, so far, have been in my area). * Their support when you set up your practice (bit by bit, this is getting better and more relevant, it seems to me).
Finally, but not least, is this. Having discovered that, to a man and woman, bookkeepers are really extremely nice people that one can get along with very easily, I really value the opportunities to get together with other ICB members in my region for drinks, chats, swapping news, ideas etc. (and for bitching about the Institute, sometimes, but that's healthy).
I can sometimes get fixated on the negatives, so I find it useful to give due regard to the up-sides as well.
"andy half-full"
(Crumbs, chief - you've got a hundred times my number of posts, and then some ..)
The answer I think is to let their clients know they're legitimate. What better way than having an official looking crest on your paperwork and website. It was said before on this site that the ICB crest looks better than the IAB logo for this purpose, and I agree. It's all about image. And the first thing people are confronted with if they decided to check this out? A very official looking website with their patron His Royal Highness Prince Michael of Kent GCVO. How can that not look good?
I agree with Kris.
I am already a Certified Accounting Technician (CAT) with ACCA as well as being a Fellow of the International Association of Bookkeepers.
I decided to leave the IAB because I felt their attitude to self-employment and MLR was very prescriptive, obstructive rather than supportive. I felt that the ICB had a better profile and probably a better image. I would imagine the membership of ICB is greater.
Certainly the required pass marks for ICB are much higher than IAB and I feel the exam questions are at least on a par (at least when I did the IAB).
Certainly ICB membership is no more expensive than IAB and the MLR fee for ICB seems to be less than that charged by IAB.
Why drop the IAB membership? For me, I liked what ICB offered, they seem to be much proactive as a professional body and that's worth a lot. The ICB certainly seems more supportive of its members, at least that's the impression I've had, but again, certainly more supportive than the IAB.
The one thing I did like about the IAB is the regional meetings, the hours for which counted towards on-going professional development. It would be good if the ICB organised something similar on a regional basis.
In terms of accreditation, the impression I get is that ICB is where IAB was about seven or eight years ago; but in terms of assessment methods, ICB have certainly gained an edge by offering online assessment. So, as Kris says, "it really is horses for courses".
If I'd kept my IAB membership having become a member of ICB, I wonder what IAB would have said if I then went with ICB for the MLR? I'm sure that they'd have said, "while you are a member of IAB and wanting to practice, you'll have to pay us a practice licence fee as well."
I'm quite happy with what ICB offers. I think their exams are of a good standard, with high pass mark requirements. They certainly give me the impression of being supportive of bookkeepers seeking self-employment and I like the image they present.
With regard to the mentioning of MLR requirements, the situation is simple: As a professional bookkeeper you will need to be registered. If you are not part of a 'supervisory body', then you'll need to register directly with HMRC. If you are a member of a supervisory body, you will register for MLR under that umbrella. Either way, you need to be registered for MLR.
I have still yet to apply for a practice licence, but will do so when I have completed my last two exams. MLR registration is a given and I will do that via ICB as it is a supervisory body recognised by the HMCE. I haven't checked the insurance liability side of things yet, but I wouldn't be surprised if at some point there is an MLR stipulation as part of any insurance policy for professional bookkeepers.
As for all ICB members to be certified for both computer and manual bookkeeping by 2011, I think this is all part of maintaining standards. I've nearly completed all of ICB's exams in a 5-month period, so I don't thinking its asking a lot of other ICB members to make sure they have both the manual and computerised bookkeeping certifications.
GrahamG
-- Edited by GrahamG on Sunday 8th of August 2010 06:30:05 AM
-- Edited by GrahamG on Sunday 8th of August 2010 06:32:30 AM
Just thought I would mention our events, ("The one thing I did like about the IAB is the regional meetings, the hours for which counted towards on-going professional development. It would be good if the ICB organised something similar on a regional basis.")
We do have quite a few regional meetings, they come in two types, organised and attended by ICB staff (usualy around 30 of them at the begining of each year), and meetings which are organised by ICB members.
You can check this page www.bookkeepers.org.uk/MyICB/events.aspx for a list of up coming events (that page looked a little more busy in July (19 meetings), August is a quiet period)
The ICB does product CPD certificates for these meetings, although the ICB does not enforce a CPD requirement.
-- Edited by ICBUK on Monday 9th of August 2010 09:37:02 AM
Many current members are unhappy with alot of changes made by the ICB i.e increased exam fees, more exams to qualify for membership, lack of co-operation with other accounting bodies therefore your qualifications not being recorgnised by them. It would be a good opportunity to discuss alot of the issues raised on this forum with the ICB.
Increased exam fees are due to the new regulations of OfQual and the QCF. All professional bodies have increased their fees by quite a bit.
In fact in another post I have just replied to, someone has been told the AAT 3 levels now cost £591 + 18 admin fees.
Fortunately the ICB have the numbers to keep the increase as low as possible. (£210 no extra admin fees)
More exams to qualify for membership has been in discussion for around 5 years. The descision was made in 2008 by the members panel and advisory board. Since then the ICB has tested the water at seminars and received full support. Since then we have been thinking about how and when to implement it.
The main reason being is that a person who has only done a course on computerised software don't always have the skills required to call themselves a professional bookkeeper, but at the same time, professional bookkeepers do need to know how to use software.
As far as our qualifications not being recognised: As far as I am aware, the AAT don't give any exemptions, apart from their ABC. Was there something in particular your referring to?
We talk to our members individually on the phone or email and in group at the seminars. These changes receive great if not full support. The ICB is a membership body and needs to move in a direction that the members feels the industry wants and needs.
For the moment I think they do, BUT I was more than a little shocked to learn that, in the matter of annual MLR returns, the Institute intends to fine members (£50, I think) who submit them late.
I have no issue with submitting MLR Returns, but I absolutely do have an issue about an organisation - which should only exist to support its members - assuming the devine right to fine members over activities being carried out at the behest of the Government.
Hi just noticed this,
The ICB was the last body to bring in a late fine. In June all supervisory bodies met and the ICB was informed it was the only body not to fine late renewals (never felt the need to as renewal rate is very very good <touch wood> ). All supervisory bodies agreed on £50.
For the moment I think they do, BUT I was more than a little shocked to learn that, in the matter of annual MLR returns, the Institute intends to fine members (£50, I think) who submit them late.
I have no issue with submitting MLR Returns, but I absolutely do have an issue about an organisation - which should only exist to support its members - assuming the devine right to fine members over activities being carried out at the behest of the Government.
Hi just noticed this,
The ICB was the last body to bring in a late fine. In June all supervisory bodies met and the ICB was informed it was the only body not to fine late renewals (never felt the need to as renewal rate is very very good <touch wood> ). All supervisory bodies agreed on £50.
Isnt this just price fixing? Saying to bookkeepers it doesn't matter where you go we'll all charge you the same high price? It takes away freedom of choice and keeps the price artificially high. Just like the supermarkets a few years ago with milk that got them a fine of over £100 million? Or the recent bank fees stuff?
What is the justification of such a value? What is the direct cost to the ICB and other bodies
The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
That other bodies told the ICB that they were the only ones not to have implemented a "late fine" is still a pretty weak justification for doing so.
A fine on someone's livelihood is a repressive act however you cut it. If it's imposed by the Government one has no choice - but by an Institute that exists to look after its members' interests?
You see if the ICB allows people to disobey the AMLR it will be called into account.
Therefore it has to be seen to be preventing, or at least punishing, those who would otherwise not fall in line with the new laws.
If it does not, it could loose its supervisory status and probably be fined, then all members would have to go elsewhere to be supervised.
Fortunately almost all ICB members comply on time.
Chasing people does cost money. Why should the vast majority of members who comply pay for the small amount who do not. Not only that but the risk as mentioned above.
Anyhow, there should not be a problem with filling in a form, if there is call the ICB before the deadline. We have dedicated staff to assist with all areas of AMLR.
AICB wrote:A fine on someone's livelihood is a repressive act however you cut it. If it's imposed by the Government one has no choice - but by an Institute that exists to look after its members' interests?
Hi,
Well if the majority of members fill in the form on time, surely the fine does not matter. For the small amount who do not, they risk the supervision status of all the other members, plus added cost of ICB staff having to chase and write.
Therefore is it not in the interest of the members as a whole/majority?
I'm sorry not to agree with your justification for threatening fines on your membership, but nothing I've heard or read so far is convincing. I'm very sorry; maybe I should leave it there.
Don't apologise if you disagree. It is what the ICB is here for, to represent the bookkeeper.
Ok, so what solution would be suitable for members who do not comply with the new laws, cost money to chase, and danger the ICB's reputation and supervisory status?
You should maybe do what the British police and court does to criminals? You know: promise me it is not going to happen again! Ok mr judge I promise, I am sorry. All righ then. I understand you are drug addict so from you it is acceptable to rob/kill people, you may go now.(maybe 20 hrs community service, where they don't show up)
No, but really, I have to agree with James, there must be some rules about filling in the forms in time. I don't really know how this fine thing works but you have to give some time to people after the deadline before you fine them I suppose. Deadline passed, send a reminder letter, give them another two weeks and then fine them...ICB must work out a way where it does not look like they do it just to get another income, this would ruin their reputation in the eyes of their members.
I don't agree with the cost money to chase bit. I paid for my membership and practice licence so the cost of the stamps is covered (expenses hmm)
As far as our qualifications not being recognised: As far as I am aware, the AAT don't give any exemptions, apart from their ABC. Was there something in particular your referring to?
The above statement is incorrect. AAT gives exemptions and they have now left it to the training providers to decide the level at which candidates start.
You are right but AAT does not call it exemption and it is not exam for exam but skills and knowledge based according to them. They always did it this way and there is a skill check you can do what level do they recommend you to start but as you said the final word is of the college and as you can see premier training does base it on qualifications/exams
You see if the ICB allows people to disobey the AMLR it will be called into account.
Therefore it has to be seen to be preventing, or at least punishing, those who would otherwise not fall in line with the new laws.
If it does not, it could loose its supervisory status and probably be fined, then all members would have to go elsewhere to be supervised.
Fortunately almost all ICB members comply on time.
Chasing people does cost money. Why should the vast majority of members who comply pay for the small amount who do not. Not only that but the risk as mentioned above.
Anyhow, there should not be a problem with filling in a form, if there is call the ICB before the deadline. We have dedicated staff to assist with all areas of AMLR.
Very clearly put.
Any fine is for late / none submission. If you get your return in by the required date, no fine, no problem. If that's the case, what's the issue? Some of the comments on this thread are almost like saying, "I leave for work late every day, but why should my boss bollock me for it?". The answer is simple, "leave earlier!"
Also, comments against having to do the new exams is short sighted. We all want to be part of a professional body that has and maintains standards. I don't intend failing any exams, so don't intend incurring additional expense, but I nevertheless see the charges made by ICB to be very reasonable. The online assessment exams may be more expensive than the quarterly exam sittings, but the benefit is being able to take those exams any time of the year. When compared to other online assessments, the price is good.
Sounds like I'm blowing ICB's trumpet, but I'm not. I'm just looking at the situation fairly.