I am an Associate of IFA and I would like to gain direct entry to AIA without exams.
I heard that AIA accepts members of other IFAC accounting members to get Direct Entry to their Association. Since IFA is already an IFAC member I would like to consider this option.
Have any of you considered this option in the past or managed a Direct Entry to AIA as IFA member?
IFA and AIA were at around the same level but IFA has now slipped into pole position with their IFAC membership.
Anyway, it's a genuine question and I really am interested to know your reasoning behind the belief that AIA can advance you more than IFA.
kind regards,
Shaun.
P.S. is the reasoning for audit and if so, do you know what the rules are? I know that the AIA audit is under ACCA control but beyond that not sure what the arrangement is and considering the flaming hoops that you have to jump through with the ACCA to work in Audit I would imagine that the ACCA probably pour petrol on the hoops for AIA people! (not interested in working in Audit myself as it's just litigation waiting to happen).
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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.
Thank you for your response. Before answering your question, let me tell you that I am also not interested in audit. I am working in the industry for many years and don't plan to move to the audit practice.
Now, there are some obvious reasons that I would like to enter AIA as an Associate. I come from Cyprus (EU) where the local accounting body, namely, the Institute of Certified Public Accountants of Cyprus (ICPAC) accepts members either with signatory right or without it (just a registered member). As I am not interested in audit, I seek the latter membership with ICPAC, which I believe will give a lot of benefits beside the value in my CV.
ICPAC can accept members of other accounting bodies such as ACCA, ICAEW, CIMA, AIA, CPA USA or Australia, AIA etc. IFA is currently not included in the list of recognised accounting bodies in Cyprus. When I applied for membership on the basis of my IFA qual., my application was rejected. I need to tell you that I have applied to ICPAC before IFA become an IFAC member, but after IFA's membership with IFAC, their name still do not appear in the ICPAC list.
It might also sound strange to you but IFA in Cyprus is completely unknown! And personally I don't see IFA to do something to change their image in Cyprus, which is a very accounting/finance oriented country. I emailed them twice proposing for an establishment of a local office in Cyprus, but no reply....
All in all, I believe that membership with AIA will be the vehicle for me to enter the local Cyprus body which is what m final destination is. AIA is also not well recognised in Cyprus; in fact, it is well known as an inferior accounting body to ACCA or ICAEW. But this is not an issue as far as the AIA qual. will give me entrance to ICPAC...
I am still interested in knowing whether my IFA membership can give me entry to AIA directly.
Looking at the AIA website the direct entry for membership of IFAC organisations based outside of the UK.
It states that you should contact them to discuss if you have membership of UK based IFAC organisation.
Although the IFA now has IFAC membership its public profile compared to the CCAB bodies is lower in the UK although this is being worked on, and it is unlikely to be viewed in the same terms in gaining direct entry to another accounting organisation.
If membership of the IFA does not allow you direct membership of ICPAC would it gain you some exemptions?
If you want to be an ICPAC member, would it not be best to do that organisations exams/ assessments to gain admission whilst hopefully using your IFA qualification to gain exemptions rather than joining a third organisation.
I have already contacted AIA asking them to clarify whether IFA members can be included in the Direct Entry scheme. However, they did not give a straight forward answer. They told me that IFA members would be considered on an individual basis.... Does this mean something?... and, the application require a fee which is not refundable, thus, I want to ask other people if they have tried this route before.
With regard to the ICPAC, they do not have their own exams. They closely work with ACCA and their students must sit the ACCA exams to qualify as members. For me, sitting the ACCA exams (even with some exemptions) with such commitments (work, family..) is not the best idea, even though I highly value their syllabus. And, if I was to start a new professional qualification I would rather go for CIMA; it would be of more value as a finance manager in industry. But time availability is an issue.
I have been looking at doing a further tax qualification and note from the CIOT site that completing the AIA qualifications means that you are eligible to sit the CTA.
No mention of the IFA in the list of approved qualifications.
