Hi all. Have been reading these forums for a few weeks now ... you all seem very knowledgeable and helpful so here goes!
For various reasons I need to retrain and as I was a bookkeeper many years ago when my children were small that's the route I'm thinking of going again. (Maybe) From what I can see the main stumbling block is that I have been bankrupt. Am I right in thinking this means I can never work in accountancy? I've been researching what's available in the way of training and qualifications and think I've got a bit confused.
I'm thinking short term, bookkeeping would be the best option as I can practice in about 6 months. Of course, that depends on whether or not I'll be admitted to any of the professional bodies (I emailed the ICB nearly 3 weeks ago with all the required information to see if I'm even able to join a professional bookkeeping organisation and still waiting to hear on that one. (Perhaps I'm just impatient but not even an acknowledgement yet)).
Long term, accountancy would be better but 1) I've been bankrupt 2) I won't be able to practice for a long time 3) My age goes against me 4) Expensive
Is there any point training in steps? ie ICB then AAT etc or would that be too long winded?
Does anyone have any other thoughts, something I've missed or is it all a waste of time given my bankruptcy?
Weve had a number of students who have completed their study, joined ICB and went onto practice on the back of going through bankruptcy situations. As long as there have been no criminality issues then you should be fine.
Re your studies, the ICB route would certainly allow you to qualify and practice quicker. If, upon completion of this study, you felt that you would like to study on to AAT, then you could this at Level 4 as many previous students have done.
Good luck with whatever study route you take and with your future career.
If I'd read a bit more round the forum (especially this section) I'd have worked out what route to take!
I am still very concerned about my bankruptcy though. It's now been a month since I sent ICB all the information they wanted in order to make a decision on my (potential) membership.
If I couldn't join, is there anything that says I can't practice if I'm not a member of a professional body? I'm thinking not if I get my MLR from HMRC. Maybe I'll have to pay more for my PII too?
I just think it's better to have clients reassured that we're overseen in some way.......
I'd second Peasie on that one, but in answer to your question re if ICB do not allow you a practice license, yes, you could approach HMRC, but I would guess that they will do similar investigations. I re-iterate that I would be confident that there will be no problem with this as I've seen many students, in similar circumstances, qualify and go on to set out on there own. as bookkeepers.
Blimey, this is becoming a seriously drawn out process... maybe ICB don't want my money :)
My first email with all attachments and details of my bankruptcy seems to have disappeared into the ether! The second one (sent over a week ago) hasn't even been looked at yet!
Maybe I'm being impatient but I do really need to know what route to take so I can get on.
I've looked into the OU (B190) course which I understand gives exemptions to IAB. Anyone else taken this? The only problem I can see is that it doesn't start till May and takes 12-24 weeks. I'm not completely inexperienced but I dug out all my old certificates and they're dated 1989 which means I stopped working in accounts about 20 years ago.... definitely need refreshing even though I've run my own business for the last 10 years.
Have I understood the IAB website properly... their training and exams are not flexible and I can't seem to find a distance training route to go?
Also, is there any indication that in the future ICB courses will be recognised the same way IABs' are? I'm probably going to end up going AAT later but I need to earn in the meantime.
Just had a reply from the ICB after another 3 weeks..... seriously wondering if we're suited to each other
Apparently they'll accept me as a student and I can take the exams etc BUT I'll then have to wait for the panel to decide on my full membership. To me, that sounds as though I could pay out for training, exams and student membership only to be turned down at the end of the process. I know the probability is that I'll be 'accepted' but there's no guarantee apparently. Do I really want to spend all that time, money and effort when there's a possibility I won't be able to use it?
You are right, the ICB exams are far more flexible than the IABs. I think Frauke did mention something that they are moving to ondemand exams but i dont think that they have got there yet. They do have, however, a number of distance learning providers, if you go to find a provider and click distance learning they should come up. They are quite a few.
As regarding recognition, the ICB qualification isnt recognised but OFQUAL and James (from ICB) has said the ICB do not currently plan on becoming OFQUAL acredited. But then you have to think, "do i care if they are OFQUAL?"
Which brings me to my next point, if you were to start on the AAT at a later date it is the training provider who decides where you can start not the AAT. All they are looking for is the skills you have, not if the skills were gained under an OFQUAL body. So having the ICB qualification wouldnt hold you back compared to if you have the IAB qualification. However, i personally wouldnt normally allow students who have done ICB level III come on to AAT level IV, as there is loads at AAT level III that you would have missed, for example costing, budgeting, spreadsheets and the ICB dont cover VAT in very much detail. This missing knowledge makes level IV much harder. Some providers will, but personally, I dont recomend it.
As for the membership, I agree that it seems a bit odd. Anyone can join the ICB as a student but not everyone can be a member. Why would anyone want to be a student if they cant be a member, why not just restrict who can be a student?
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Nick
Nick Craggs FMAAT ACA AAT Distance Learning Manager
The offers still there for a chat, Kyla. I've been off work for a while but I should be back on Monday.
Thanks for the offer Brian, much appreciated but I guess I've made a decision now!
Definitely going for OU to IAB then eventually AAT. Apparently there are funds available for the AAT courses at levels 3 and 4 if they're taken at college. If anyone's interested they're via the 24+ Advanced Learning Loans gov initiative. I haven't yet found any distance learning providers that are approved for this loan but stand to be corrected. And of course, I guess they could be pulled at any time!
Thanks all for your help to clear my mind ~ no mean feat :)
Just to let you know I did B190 and then the Professional Certificate in Accounting with the OU and am now a member of the IAB. B190 is just basic bookkeeping, the professional certificate is made up of 2 modules and gives exemptions for AAT modules at level 3 & 4. I enjoyed it and am going to complete the levels for AAT.
