Is it true, that the ICB qualifications, are valid only for two years, and after that, you will need to sit the exams again, to renew your qualification? I have looked at the ICB website, but have not found anything, which to suggest that? The reason I am asking, is because I saw that info written somewhere, sometimes ago, I think it was on one of the forums, but am not sure, where I saw it?
The two year rule for ICB relates to the qualifications that can be used for exemptions purposes (and is at the discretion of the ICB).
For instance, if you've taken ACCA paper F3 within two years it can be used as exemption from ICB level I but beyond that it can't.... Lets not get into the debate on that one here as various bodies exemptions policies often make little sense but it's their qualification so can do as they please regardless as to how little sense some exemption policies are (I ended up accidentally upsetting someone this week who had been given IAB exemptions that I don't believe that their attained qualification deserved. More often though the issue is with qualifications not being given the merit they deserve).
When you've taken the exams there is continued professional development (CPD) which you must do every year as going down the bookkeeping and accountancy routes means a life of constant learning. Maybe this is what you read?
CPD is not unique to the ICB but is required by every professional supervisory body in order to keep their letters after your name.
But fear not, you don't have to take the ICB exams every two years. That's just a mix up somewhere down the line.
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.
Just to add to Shauns comments, the two year rule also applies to ICB examinations, if you want to become an ICB member (AICB, MICB etc) If you take an ICB exam, and do not join straight away, the membership by examination, is valid for two years. Once a member, you just have to renew membership each year, to keep it valid.
CPD is not mandatory with the ICB (Yet? One for James to advise on), but as Shaun points out, bookkeeping/ accountancy is a continuous learning path, so it is adviseable to maintain current knowledge.
