All EU and EEA states and all the associated countries in Central and Eastern Europe and Cyprus have a designated National Academic Recognition Information Centre ( NARIC ), which provides a way to compare academic qualifications as part of the Bologna Process . Together they form the NARIC network .
31-609: The Association of Chartered Certified Accountants ( ACCA ) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA). Founded in 1904, It is now the fourth-largest professional accounting body in the world, with 252,500 members and 526,000 student members. ACCA's headquarters are in London with principal administrative office in Glasgow . ACCA works through
62-599: A Chartered Certified Accountant. The ACCA professional examinations are offered worldwide four times yearly in March, June, September and December as paper-based and computer-based exams. On-demand computer-based exams (CBE) are also offered for the first four exams (BT, MA, FA, LW), and Session CBEs for the rest (PM, TX, FR, AA, FM) which are available to be taken at ACCA licensed exam centres. A Bachelor of Science (Honours) degree in Applied Accounting (after completing
93-517: A fine) against them if they breach ACCA rules. ACCA rules and regulations are governed by English and Welsh law and ACCA disciplinary decisions can only be challenged in England and Wales. Launched in early 2015, ACCA-X are online courses for students starting their studies in accountancy and business. These courses are available for the first seven Foundations level exams and hosted on edX , with content developed by Epigeum. In April 2016, ACCA-X won
124-656: A further 5 years period until December 2017. As of 2006, Canadian Institute of Chartered Accountants (CICA), World Education Services and the Odette School of Business at the University of Windsor indicated that the evaluation recognized ACCA as having the Canadian equivalence of a bachelor's degree (four years) in Accounting. The Canadian branch of ACCA is pursuing recognition for statutory audit purposes in
155-658: A network of over 110 offices and centres in 51 countries - with 346 Approved Learning Partners (ALP) and more than 7,600 Approved Employers worldwide, who provide employee development. The term 'Chartered' in ACCA qualification refers to the Royal Charter granted in 1974. 'Chartered Certified Accountant' is a legally protected term. Individuals who describe themselves as Chartered Certified Accountants must be members of ACCA and if they carry out public practice engagements, must comply with additional regulations such as holding
186-409: A practising certificate, being insured against any possible liability claims and submitting to inspections. ACCA offers the following certifications: Chartered Certified Accountant is the professional body's main qualification. Following completion of up to 13 professional examinations, three years of supervised, relevant accounting experience and an ethics module, it enables an individual to become
217-508: A practising certificate, carrying liability insurance and submitting to inspections. ACCA works in the public interest, ensuring that its members are appropriately regulated. It promotes principles-based regulation . ACCA actively seeks to enhance the value of accounting in society through international research. It takes progressive stances on global issues to ensure accountancy as a profession continues to grow in reputation and influence. ACCA traces its origin to 1904, when eight people formed
248-458: A single professional accounting body while others have several. If there is more than one body, such bodies may or may not compete with each other; in some countries, professional accounting bodies are divided according to their field of activity. For example, India has two professional accounting bodies: the Institute of Chartered Accountants of India deals with only financial accounting ,while
279-482: A student wishes to achieve both certificates and the diploma. The Foundation-level exams are available as paper-based exams held in March, June, September and December or as on-demand computer-based exams throughout the year at ACCA licensed exam centres. The ACCA also offers certain other qualifications: ACCA students, affiliates and members are bound by ACCA rules and regulations. ACCA is able to take disciplinary action (such as revoking ACCA qualification or exacting
310-692: Is an organization or association of accountants in a particular jurisdiction . Usually a person needs to be a member of such professional body to hold out to the public of the jurisdiction as an accountant. The designations for qualified accountants vary from jurisdiction to jurisdiction, such as Cost and Management Accountant (CMA), Chartered Accountant (CA/ACA), Chartered Certified Accountant (CCA), Chartered Professional Accountant (CPA), Certified Public Accountant (CPA), Certified Practising Accountant (CPA), Certified Management Accountant (CMA), Chartered Management Accountant (ACMA) or Chartered Public Finance Accountant (CPFA). Some countries have
341-496: Is awarded automatically based on 5 years' continuous membership, subject to compliance with Continuing Professional Development requirements. This practice is different to many other accounting bodies whose members may attain senior memberships only after demonstrating outstanding achievement or contribution made to the accounting profession or at large. Fellow members of ACCA use the designatory letters FCCA in place of ACCA. Before 2005, Continuing Professional Development (CPD)
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#1732782969907372-612: Is regarded as the equivalent of a UK master's degree by the UK NARIC and Department for Education . Subjects include: Financial accounting , Management accounting , Financial reporting , Taxation , Company law , Audit and assurance and Financial management . ACCA offers a range of foundation-level certificates and diplomas – collectively referred to as Foundations in Accountancy (FIA) – which provide an entry point for anyone new to accounting and finance and who doesn't meet
403-427: Is structured in three modules, plus an Ethics and Professional Skills module and a Professional Experience Requirement (PER) . The Applied Knowledge level consists of 3 examinations: The Applied Skills level consists of 6 examinations: The Strategic Professional level involves 4 examinations: 2 from Essential and any 2 from Options. Essential (or Compulsory): Options: The ACCA full Professional qualification
434-643: The European Economic Area nations and Switzerland . For example, a holder of the ACCA could practice as an accountant in all member countries of the European Union, European Economic Area and Switzerland, describing himself/herself as ACCA or Chartered Certified Accountant . Access to local professional qualifications requires a separate test. At the end of 2016 there were over 16,000 members and almost 60,000 students in Europe (excluding
465-506: The Financial Reporting Council (FRC; then Professional Oversight Board) published information for the first time about its concerns over self-regulation by particular institutes. Press reports highlighted comments about ACCA, which had implemented recommendations to improve its examination syllabus, but needed to pay greater attention to monitoring long-time members. In 2011, 2012 and 2013 the ACCA professional body had
496-566: The Institute of Cost Accountants of India deals with cost accounting & management accounting . National Academic Recognition Information Centre Individual NARICs are coordinated by the NARIC Network, an initiative of the European Commission to improve recognition of academic qualifications and study between European countries. It is part of the commission's SOCRATES / ERASMUS programme, aimed at improving
527-654: The Intermediate Diploma in Financial and Management Accounting and complete exams Maintaining Financial Records (FA2) and Managing Costs and Finance (MA2) ; before progressing to the Diploma in Accounting and Business and completing Business and Technology (FBT) , Management Accounting (FMA) and Financial Accounting (FFA) . Students can use the Foundation-level awards as an entry route onto
558-596: The Royal Charter granted by Her Majesty Queen Elizabeth II of the United Kingdom . Chartered Certified Accountants work in all fields of business and finance. Some are engaged in public practice work, others work in the private sector and some are employed by government bodies. Since Chartered Certified Accountant is a legally protected term, individuals who describe themselves as such must be members of ACCA. If they carry out public practice engagements, they must comply with additional regulations such as holding
589-662: The ACCA Qualification. Students who complete the Diploma in Accounting and Business will be given exemption from the first three exams of the ACCA Qualification (BT, MA and FA) and can start their studies on the ACCA Qualification with Corporate and Business Law (LW). In order to achieve a certificate for the exams completed students must also complete a foundation ethics module called Foundations in Professionalism , but this only has to be completed once, even if
620-618: The ACCA opened up legal proceedings against the CICA to operate in Canada, complicated by the merger of the accounting profession in Canada, incorporating CICA, CMA Canada and CGA to use 'Chartered Professional Accountant (CPA)'. A 10-year transitional period requires all CPA members to use CPA, 'legacy designation' rather than the newer designation. The merger completed in 2015. At the end of 2016 there were 3,011 members in Canada. Professional accounting body A professional accounting body
651-631: The Best eLearning and Online Education Award at the International and European Association Awards held in Berlin , Germany . The following courses are free and available to anyone in the world: These courses are available in all but three countries: Exams passed in these three modules and the completion of 'Foundations in Professionalism' module will lead to the Diploma in Accounting and Business . Candidates register as student members to undertake
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#1732782969907682-591: The Fundamentals level of the exams, the Ethics and Professional Skills module and submitting a Research and Analysis project), is offered in association with Oxford Brookes University . From September 2018 onward, the syllabus comprises 13 examinations and an Ethics and Professional Skills module (EPSM), although some exemptions are available. In April 2019, a Data Analytics unit was added in EPSM . The qualification
713-524: The London Association of Accountants to allow more open access to the profession than was available through the accounting bodies at the time, notably the Institute of Chartered Accountants in England and Wales (ICAEW) and the Institute of Chartered Accountants of Scotland (ICAS). As of 2020, the vision of ACCA is to develop the accountancy profession the world needs. Key dates in ACCA history include: The term Chartered Certified Accountant
744-758: The UK & Ireland). ACCA and the Union of Chambers of Certified Public Accountants of Turkey (TÜRMOB) signed a partnership agreement in 2004 which enables TÜRMOB members resident in Turkey to follow the ACCA Strategic Professional level and achieve ACCA membership. At the end of 2016 there were 2,015 members in the US. ACCA announced a Mutual Recognition Agreement with Certified General Accountant (CGA Canada) effective from 1 January 2007; renewed in 2011 for
775-604: The highest percentage of A&B (best) outcomes from FRC's Recognised Supervisory Body (RSB) visits to a sample of 'Registered UK Audit Firms'. ACCA firms tend to audit smaller and less complex clients. As of 2023 there were over 113,000 members and 72,000 students in the UK & Ireland. The ACCA qualification is legally recognized by all member countries of the European Union under the Mutual Recognition Directive . This recognition extends to
806-597: The minimum entry requirements for the ACCA Qualification (which is three GCSEs and 2 A Levels or equivalent, in five separate subjects). Students can start at any level within the Foundation level, but it is recommended that students without any formal academic qualifications start with the Introductory Diploma in Financial and Management Accounting and complete exams Recording Financial Transactions (FA1) and Management Information (MA1) ; then progress to
837-424: The mobility of students and staff between higher education institutions. Each country's NARIC is designated by its Ministry of Education, but they differ in status and scope of work. In most European countries, institutions of higher education make their own decision on what foreign qualifications or study they will accept, and so most NARICs have only an advisory role. This article about an organization in Europe
868-477: The professional qualification. Upon successful completion of the examinations, student members transfer to Affiliate status. "For ACCA affiliates to gain admission to full membership, they must demonstrate, on the application form, that they have obtained a minimum of three years of acceptable, supervised, practical experience in an accountancy role (or roles) and have reached the required standard of competence." From 2008, Fellowship, or senior membership of ACCA,
899-459: The province of Ontario under the province's Public Accounting Act of 2004. Canadian Institute of Chartered Accountants and Certified Management Accountants of Canada (CMA Canada) announced a joint qualification ' Chartered Professional Accountant or CPA Designation', but whether this designation will impinge on ACCA's application for recognition in Ontario is uncertain. On 29 November 2012
930-410: Was introduced in 1996. Prior to that date, ACCA members were known as Certified Accountant. It is still permissible for an ACCA member to use this term. Members of ACCA with post-qualification experience of more than five years and have completed the required continued professional development are designated Fellows, and use the designatory letters FCCA in place of ACCA. The term Chartered refers to
961-693: Was mandatory only for holders of 'Practicing Certificate' and 'Insolvency Licence'. From 2005 to 2007, ACCA phased in mandatory CPD requirements for all members. The ACCA or Chartered Certified Accountant qualification is fully recognised in both the United Kingdom and Ireland . The Quality and Qualifications Ireland (QQI) assigned ACCA Qualification to 'Level 8' of the Irish National Framework of Qualifications (NFQ) in 2018. Level 8 holds Irish postgraduate qualifications, such as postgraduate diplomas and master's degrees. In 2011,