I was fully qualified as ACCA two and half years ago, with ACCA membership certificate hanging up in my office.
Two years ago, I started freelancing. I called up ACCA checking about Practise Certificate. I was told I was only allowed to do bookkeeping work. Before I get PC, I can NOT call myself ACCA, accountant, accounting, accounts etc. whatsoever.
I comply with what I was told. BUT I find out in LinkedIn and other networking website, many people called them ' part-qualified ACCA' , 'management accountant studing ACCA'. This really confused me - why I have hide myself while I'm ACCA, but other people who haven't pass exams can call themself 'ACCA'?
I know what you mean! I was FCCA, qualified 8 years ago but the rules surrounding what I can or can't do and what I call myself have left me with no choice but to give up the qualification in favour of a more sympathetic professional body.
It is also impossible to get a practicing certificate without working in practice even though I have 15 years experience!!
To make matters worse you can call yourself an accountant and do almost any work you want with no qualifications, unfair for sure.
surely the difference is that where on Linkedin people may mention their status in passing they are not putting themselves across as accountants but rather that they are in training to become one.
The ACCA were saying that you could not call yourself an accountant or use the letters ACCA etc. to gain self employed work but if you were applying for a job with an accountancy practice you would tell the potential employer that you were PQ ACCA or an Affiliate or a member which of course you are.
The real difference is holding yourself out to be in public practice as an accountant which of course under regulation 8 (which to my mind is a universally dispised regulation in it's current form) you cannot do until you've got those elusive two years post qualification experience.
On the matter of people calling themselves ACCA, If you say that you are a student doctor nobody expects you to actually be a doctor and in the same way, people calling themselves part qualified are not stating that they have passed ACCA. They are simply stating that they are studing towards the qualification and the statement simply has the word ACCA in it.
I completely understand and sympathise with your situation. I'm one of those who still has a little way to go before getting the wall candy from them and am already looking at the various work arounds for when I have passed the final hurdle (hopefully this June).
I do think that regulation 8 will change but only on the basis of people voting with their feet which of course after giving up years of your life to gain the qualification is very, very difficult to do.
Another thing to think on is that when applying for permanent jobs, hypathetically someone who has only passed one exam is part qualified in exactly the same way as someone who has passed thirteen!
I can see the ACCA's point in their rules but they really need tweaking a little to bring them in line with the likes of CIMA's approach to qualification.
Now I never thought that I would be caught saying the ACCA should be more like CIMA (lol).
Have a good one and talk soon,
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.
I have withdrawn from the regulating bodies, I personally found I was just paying fees year after year with not much in return. People don't care what qualifications you have as long as you are doing the job properly and saving them money, the vast majority of people don't even know what ACCA or whatever is anyway. Not one client noticed when I took the certificates down. If I could do things again, I wouldn't even bother with accounting qualifications, I would go down the taxation route.
Just editing to say, I have only been asked once if I was qualified, and that wasn't even from a client, people don't even think to check. The masses are not aware of our system allowing unqualified persons to enter into the accounting profession.
-- Edited by mushroom on Wednesday 14th of March 2012 09:37:33 PM
However you will still need to register with HMRC with regards to money laundering regulations and ICO regarding the data protection act and I have found the fees I have paid are only just short of the ACCA subs.
Personally I would like to see the professional bodies such as ACCA find away around the problem of obtaining a practicing certificate. I understand they have a duty of care but in my opinion they have no common sense.
Cheers Guys! Nice to know I'm not the only miserable one!
I spend every weekend studying HMRC website and UK GAAP to improve my service, but calling myself 'bookkeeper' is like to tell people I'm one of the quacks, a nurse trying to be called a doctor! Even more upsetting is that one time I met a person who is chargeing much higher rate, and he even hasn't studied any accountancy, doesn't know the deadline of PAYE payment. Trouble is the client trusted him! He boasted to me that he just quietly 'creeping up' his fees over years!
I started doubt ACCA just recently. It's very sad. I fought for it for so many years. Not worth it! :(
I spend every weekend studying HMRC website and UK GAAP to improve my service, but calling myself 'bookkeeper' is like to tell people I'm one of the quacks, a nurse trying to be called a doctor!
This forum is full of "quacks"
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Tony
Responses are intended as outline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
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.
................. but calling myself 'bookkeeper' is like to tell people I'm one of the quacks, a nurse trying to be called a doctor!
From personal experience I can tell you that Doctors tell you what's wrong with you, it's the Nurses that make you better. Don't mention surgeons, they just want to take a slice of you.
Sorry guys, I think my analogy was misunderstood here...
I don't mean to say that nurses are not good at their work. I meant some nurses talk to you as if they are your doctor- you often see this situation in the TV, don't you?
Stop it you two pesky kids and be off with you to go play in an AAT thread.
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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.
I get asked quite often if I am qualified. I also take a lotof pride in the fact I studied hard, passed the exams, did all my experience and now run my own successful firm.
However, I can understand why people don't bother with the qualification when the term accountant is not protected.
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Phil Hendy, The Accountancy Mentor
Are you thinking of setting up your own practice or have you set up and need some help?
If so a mentor may be the way forward - feel free to get in touch and see how I can assist you.
nice to see you back on the site. Haven't seen you around for a while.
In this instance though the poster is qualified with lots of experience (must have at least three years to be admitted to membership which they state they have already attained) but has now hit the frustration of so many ACCA bods in that gaining the right type of experience post qualification can prove near impossible resulting in going rogue or jumping to another ship.
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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.
I have been doing some investigation of my own and if you are having problems with the ACCA try looking into a member in practice certification from AAT or ICB as they are easier to obtain whilst working for yourself.
Now that they've been accredited by IFAC they've gained a million brownie points worth of credibility as a supervisory body and really proud of my new bit of wall candy.
I'm still with the ACCA at the moment until at least the June sitting so no matter what I'm allowed to do with my IFA hat on, the ACCA's regulation 8 still takes precedence meaning that I'm going to have to stand down eventually if I want to offer clients the full spectrum of services.... Or alternatively let someone else think that their my boss for two years.
Seems a bit unfair that you have to get a further two years once qualified when one already has three signed off but thems the rules and there's little that we can do to change them.
I think that with the AAT isn't it that the experience can be acquired before, during or after qualification. Not a requirement like the ACCA which needs one to have copious amounts of relevant experience both before and after qualification before you can get a practicing certificate.
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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.
With any of the bodies you need the experience but with most of them, except ACCA you can prove this yourself and work under their supervision while you obtain the final certificate.
I have been ACCA qualified for 8 years with a reputable firm of accountants so I have the experience. I am even a fellow member but in order to get a practicing certificate I have to remain employed for a further 2 years and have my employer sign off the experience and they wouldn't do this knowing I am going to set up in competition.
It has been hard letting go of my ACCA qualification as it was hard work but I have no choice.
I understand why the ACCA and ICAEW are like they are but it is frustrating.
