11-07-2003, 06:39 AM
Dear Saar,
i am also an ACCA student and have arived just 2 month back in uk. i would completly agree with what salman has told you.ICAEW will give u exemptions in all its professional stage papers and u will only b required to give the final advanced stage papers IF u have done ACCA on uk stream not on INT stream.
And regarding that question of UK goin to IFRS...... the thing is that ONLY companies listed on EU stock exchange will b required to published their accounts on IFRS from jan 05 and the companies listed on UK stock exchange will(atlest for the time being) continue to use the Uk acc. standards. read the article that was published in sept. 03 in student accountant. EU is still quite afraid regarding the shortage of time for implementing IFRS. France has raised voice against it and thinks that it is not the right time to change and it will threat the financial stability of europe..... so it seems and in my opinion,Uk will still continue on its own accounting standards for quite some years.
Regards
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No problems brother. If you are really serious in getting into ICAEW, you will have to do the following
1) Get a training contract with a CA firm in the UK (Although some overseas training opportunities are available in the Middle East and other countries, they are next to impossible to get into)
2) The CA firm will apply for your work permit (TWES)
3) You will get exempted with the papers that you sat with ACCA in UK stream (Any papers in International stream or exempted papers will not qualify for any exemptions)
Theoretically speaking should you manage to do all of the above, you will be able to become an ACA from ICAEW. Having said that, its not that simple. As you rightly said, big four audit firms are not willing to hire such candidates as they already have so much of work force availble from UK and EU itself.
What I would suggest is that you complete your ACCA, get your Bachelors degree and continue working with a CA firm in Pakistan (Big Four), if you havent yet started working with them. One you have completed your 3 years training, try applying to UK. The best bet would be that you apply internally through the firm you would be working with in Pakistan.
I know mate its not that easy at it sounds, but you will really have to struggle in order to get something.
Cheers
SK
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i am also an ACCA student and have arived just 2 month back in uk. i would completly agree with what salman has told you.ICAEW will give u exemptions in all its professional stage papers and u will only b required to give the final advanced stage papers IF u have done ACCA on uk stream not on INT stream.
And regarding that question of UK goin to IFRS...... the thing is that ONLY companies listed on EU stock exchange will b required to published their accounts on IFRS from jan 05 and the companies listed on UK stock exchange will(atlest for the time being) continue to use the Uk acc. standards. read the article that was published in sept. 03 in student accountant. EU is still quite afraid regarding the shortage of time for implementing IFRS. France has raised voice against it and thinks that it is not the right time to change and it will threat the financial stability of europe..... so it seems and in my opinion,Uk will still continue on its own accounting standards for quite some years.
Regards
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<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote>
No problems brother. If you are really serious in getting into ICAEW, you will have to do the following
1) Get a training contract with a CA firm in the UK (Although some overseas training opportunities are available in the Middle East and other countries, they are next to impossible to get into)
2) The CA firm will apply for your work permit (TWES)
3) You will get exempted with the papers that you sat with ACCA in UK stream (Any papers in International stream or exempted papers will not qualify for any exemptions)
Theoretically speaking should you manage to do all of the above, you will be able to become an ACA from ICAEW. Having said that, its not that simple. As you rightly said, big four audit firms are not willing to hire such candidates as they already have so much of work force availble from UK and EU itself.
What I would suggest is that you complete your ACCA, get your Bachelors degree and continue working with a CA firm in Pakistan (Big Four), if you havent yet started working with them. One you have completed your 3 years training, try applying to UK. The best bet would be that you apply internally through the firm you would be working with in Pakistan.
I know mate its not that easy at it sounds, but you will really have to struggle in order to get something.
Cheers
SK
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