I recently contacted the ICB regarding the exemptions that they allow when someone has completed the above course. They have suggested that I fill in a form, attach the relevant syllabus and pay £45 for them to look at what the course contains. I cannot believe that they have not come across this query before.
If anyone has been through this process already and knows what exemptions this course receives in terms of ICB membership would they be kind enough to let me know.
the OU courses are quite new and it may be that the ICB have not updated their system yet.
Give them a call and explain to them that K01 is a rebranding of the B680 course which they did accept (providing that it was passed within two years of applying to them for exemptions).
Also, in your OU material doesn't it give a list of institutions that accept the qualification for membership?
I think that this is probably just a minor misunderstanding with whoever you spoke with at the ICB. As I say, give them another call and mention B680. Also be armed with any exempti0ons that are promised by the OU as these will have been negotiated up front.
By the way, excllent call on accountancy course. I did the B680 and it really set me up moving forwards toi studying ACCA.
All the best,
Shaun.
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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.
Yes, I do recall the B680 being rebranded now that you mention it. I will contact the ICB as you suggest.
The OU only mentions full membership of the IAB after completion of their B190 course. From what I can gather, this is less well regarded in the book-keeping field as ICB membership (although I don't wish to offend anyone.)
I think with the ICB and the IAB it used to be very much six of one half a dozen of the other with little to tell them appart.
I won't say anything against the IAB but the ICB does seem to have come on in leaps and bounds in the last 12 months and do genuinely seem to be representing the industry however I don't always agree with some of their stances such as their view of the ACCA qualification for exemptions.
Then again, it's very much their qualification so if one wants to have their letters after one's name you have to jump through the hoops that they set regardless as to whether or not you agree with them or not.
People don't look down on the IAB qualification, in fact if you wanted to go onto higher accountancy qualifications such as ACCA then the ACCA recognise the IAB qualification for exemptions where at the moment they don't recognise the ICB qualification!... Mind you, after saying that your OU qualification would give you fullexemption from papers F1, F2 and F3 on the ACCA professional path anyway.
If you want to check out ACCA exemptions for yourself go here :
Don't forget that the IAB is the International Association of Book-keepers. That hyphen is important. ICB don't hyphenate, IAB do.
One more thing to note before commiting to membership is ask yourself what you want the membership for.
If you are intending to go down the self employed path then ICB would be great but if you are looking to gain some experience in a practice you might want to look at the AAT qualification which still tends to be the one most looked for by potential employers. The OU qualification should also allow you to join the AAT at a higher level.
Good luck with whatever route that you take.
kind regards,
Shaun.
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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.
Thanks for your kind words. The ICB is actually talking to ACCA about various things including the exemptions to and from eachother, although I doubt the ICB will change its 2 year rule.
Roz: I think there might have been some confusion, sorry about that. I have been told the membership department are looking into the OU course to confirm it's the same as the B680.
