12-20-2008, 07:55 PM
Dear kaman,
This is the kind of reply we expect from someone senior. instead of elaborating and pointing out the history, you should point out the areas where any(not sticking to one) qualification qualification lacks. well personally i dont think that any professional body lacks in any area.
ICAPs are familiar with pakistan's taxation and law etc. so they need good practice for uk tax and law.same is the case with te ACCAs. Although ACCAs have firm knowledge of uk tax and Law but they need to have a good practice of pakistan's tax and law.
this is why ICAP are preferred over ACCAs in PAKISTAN. but if we compare the same in uk for example, then with no doubt ACCAs would be peferred over ICAPians( if there's any)
well here's some information regarding ACCA. hope you'll like it
(copied)
Europe
(A.)United Kingdom and Republic of Ireland
The ACCA or Chartered Certified Accountant qualification is fully recognised in the United Kingdom and Republic of Ireland.
Under the Royal Charter granted by Her Majesty the Queen, ACCA works in the public interest.
ACCA is a Designated Professional Body under the Financial Services and Markets Act, licensing firms of Chartered Certified Accountants to conduct a range of incidental investment business activities.
ACCA is a Recognised Professional Body under the Insolvency Act to issue permits to individual Chartered Certified Accountants to conduct insolvency appointments.
ACCA is also a Recognised Qualifying Body and Recognised Supervisory Body in relation to company auditing under the Companies Act 1989.
ACCA is a member of the Consultative Committee of Accountancy Bodies (CCAB). Members of these bodies are deemed to hold equivalent-level qualifications and advertisements for jobs often state that an organisation is looking for a CCAB-qualified individual.
Full members of CCAB organisations including ACCA can apply for ICAEW membership subject to certain criteria. Details
Only ACCA, ICAEW, ICAI and ICAS are able to authorise members to conduct audit, insolvency and investment business work in the United Kingdom and Republic of Ireland.
Outside these countries, legal recognition by government authorities, and mutual recognition by equivalent overseas institutes, varies from country to country. Even where full legal or mutual recognition is not available, ACCA members can sometimes obtain advanced standing in terms of sitting local accountancy examinations. Additionally, in many instances, ACCA's strong global reputation may obviate the need to acquire a local designation.
Similarly, many (although not all) universities and educational providers will recognise ACCA as equivalent to at least a Masters degree in accountancy, for the purpose of obtaining credit to acquire a local Masters degree or enter an advanced study program.
The Irish educational regulatory authorities - Higher Education and Training Awards Council (HETAC) has assigned ACCA Qualification to Level 9 of the Irish National Qualifications Framework (NQF) in 2008. Level 9 holds Irish postgraduate qualifications, such as postgraduate diplomas and masters degrees.
(B.)European Union (EU), European Economic Area (EEA) & Switzerland
The ACCA qualification is legally recognized by all member countries of the European Union under the Mutual Recognition Directive. This recognition extends to the European Economic Area nations and Switzerland. For example a holder of the ACCA or Chartered Certified Accountant qualification could practice as an accountant in all member countries of the European Union, European Economic Area and Switzerland, but could only describe him/herself as ACCA or Chartered Certified Accountant rather than local professional accountant qualification. Access to local professional qualifications is based on an aptitude test. However, it is necessary to be a citizen of one of the EEA states or Switzerland to benefit from this Directive.
(C.)Turkey
ACCA and TÃRMOB (The Union of Chambers of Certified Public Accountants of Turkey) at Turkey signed a partnership agreement in 2004 which enables TÃRMOB members resident in Turkey to follow the ACCA Professional Scheme qualification and achieve ACCA membership.
(D.)Others
The ACCA currently is recognized by the national accounting institutes with the joint scheme relationships in
Armenia (Association of Accountants and Auditors in Armenia);
Georgia (Georgian Federation of Professional Accountants and Auditors).
As of end of 2006, there are 64,574 members and 91,379 students/affiliates in Western Europe, UK and Ireland, as well as 3,279 members and 17,273 students/affiliates in Central/Eastern Europe respectively.
North America
(A.)United States (US)
A mutual recognition between ACCA and AICPA/NASBA does not exist, but is under negotiation as of December 2006. However, it has effectively been put on hold pending a decision by the UK regulatory body, the Professional Oversight Board of Accountancy (POBA). It should also be noted that even if ACCA gained statutory recognition, it would still be up to the individual states to grant reciprocity within their state. [2]
Currently ACCA membership is recognised by the Colorado State Board of Accountancy as meeting the educational requirements to sit for the US Uniform Certified Public Accountant Examination. The majority of ACCA members who pass the CPA exam may apply for licensing as a Certified Public Accountant (CPA) in the state of Colorado, USA after completing a qualifications evaluation.
As of 2002, World Education Services (WES) indicated that the evaluation awarded 9 U.S. semester credits for every subject passed in ACCA exams resulting in a total of 126 U.S. semester credits based on ACCA studies, so it allows ACCA associate members to sit for uniform CPA examination at the states with 120 U.S. semester credits requirements. [3]
As of end of 2005, there are 1,315 members in USA.
(B.)Canada
ACCA announced a Mutual Recognition Agreement with CGA Canada effective from 1 January 2007. [2]
ACCA is recognized by Canadian government as an eligible qualification to audit federal government institutions in Canada [3]
As of 2006, Canadian Institute of Chartered Accountants, World Education Services (WES) 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. [4]
The Canadian branch of ACCA is pursuing recognition for statutory audit purposes in the province of Ontario under the province's Public Accounting Act of 2004
As of 2006, ACCA has 1,100 members and over 400 students residing in Canada, the largest concentration of which live in Ontario.
Oceania
(A.)Australia
The ACCA qualification is statutory recognised as a prescribed body for insolvency purposes under the Corporation Act 2001, section 1282 and for audit purposes by ASIC under Practice Statement 180 Auditor recognition in Australia.
For migration purposes, the Institute of Chartered Accountants of Australia and National Institute of Accountants recognise the ACCA qualification as sufficient to obtain a skill assessment as an Accountant for the purpose of migration to Australia.
There is no mutual recognition agreement in place with the Institute of Chartered Accountants of Australia (ICAA) or CPA Australia (CPAA).
The ACCA qualification is recognised as at least equivalent to an Australian bachelors degree in accountancy (although not by CPA Australia). This allows ACCA members to obtain a direct entry to the examinations or advanced standing from Institute of Chartered Accountants of Australia or National Institute of Accountants.
Subject to passing exams in Australian tax and law, ACCA members may obtain the Professional National Accountant (PNA) designation from the National Institute of Accountants. On the same basis, ACCA members can obtain direct entry to the CA Program of the ICAA.
As of end of 2007, there are 1,817 members in Australia.
(B.)New Zealand
The ACCA qualification is statutory recognised in New Zealand legislation for registration to perform statutory audit work. ACCA is gazetted under the relevant act (Under Section 199 of the Companies Act 1993 Qualifications of Auditors) in New Zealand. An ACCA member can practice as long as they hold an ACCA public practice certificate (with audit qualification) in their country of origin.
A mutual recognition agreement existed between ACCA and the New Zealand Institute of Chartered Accountants (NZICA). This was terminated by NZICA on 1 January 2003 and replaced with a new limited recognition of the ACCA qualification. Details (MS Word)
Caribbean, Central & South America
The ACCA qualification currently is legally recognized by the national accounting institutes with the joint scheme relationships in
Barbados (Institute of Chartered Accountants of Barbados);
Bahamas (Bahamas Institute of Chartered Accountants);
Belize (Institute of Chartered Accountants of Belize);
Dominica (Recognized by Companies Act 1994 in the Commonwealth of Dominica);
Guyana (Institute of Chartered Accountants of Guyana);
Jamaica (Institute of Chartered Accountants of Jamaica);
Trinidad and Tobago (Institute of Chartered Accountants of Trinidad and Tobago);
Saint Lucia (Institute of Chartered Accountants of Saint Lucia);
The ACCA qualification is legally recognized in the following jurisdictions
French Guiana (Part of France and hence subject to European Union regulations).
Africa
(A.)South Africa
The ACCA qualification currently is recognized by the South African Institute of Professional Accountants (SAIPA).
The ACCA Professional Scheme has been registered at Level 7 (equivalent to master degree level) on the South African National Qualifications Framework (NQF)in South Africa.
(B.)Zimbabwe
ACCA Zimbabwe is one of the constituent bodies of the Public Accountants and Auditors Board (PAAB). The PAAB is a statutory body established in 1996, to oversee the regulation of the profession and maintain a register of persons entitled to work or practise as public accountants or public auditors in Zimbabwe. Only members in good standing of ACCA and Institute of Chartered Accountants of Zimbabwe register as auditors.
(C.)Others
The ACCA qualification currently is legally recognized by the national accounting institutes with the joint scheme relationships in
Ghana ([Institute of Chartered Accountants of Ghana])
Botswana (Botswana Institute of Accountants);
Egypt (The Egyptian Society of Accountants & Auditors);
Ethiopia (The Ethiopian Professional Association of Accountants and Auditors);
Lesotho (Lesotho Institute of Accountants);
Malawi (The Society of Accountants in Malawi);
Mauritius (The National Equivalence Council of Mauritius);
Nigeria (Institute of Chartered Accountants of Nigeria);
Sierra Leone (Institute of Chartered Accountants of Sierra Leone);
Swaziland (Swaziland Institute of Accountants);
Zambia (Zambia Institute of Chartered Accountants);
Tanzania (National Board of Accountants and Auditors).
Asia
(A.)China
1. Hong Kong SAR
A new Agreement of Recognition Arrangement (ARA) between ACCA and HKICPA (Local statutory accountancy body) was put in place on 22 August 2006, backdated to 1 July 2005. Details.
This replaced the old Mutual Recognition Agreement (MRA) that was terminated by HKICPA on 30 June 2005. It was a disaster for ACCA members when they had to go through so called "8 unfair terms" e.g.holding a degree recognized by HKICPA (ACCA degree offered by OUB was failed in the test), worked under HKICPA authorized employers,attend workshop, passed Final Professional Examination (FPE) etc.
On the contrary, HKICPA members could join in ACCA without any further requirement.
However, ACCA qualification is highly recognized by the Hong Kong employment market due to international and historical influences. Most HKICPA members qualified through HKSA-ACCA joint scheme which was operated for more than 20 years. HKSA (Hong Kong Society of Accountants) was the old name of HKICPA.
As of end of 2005, there are 16,609 members in Hong Kong SAR
2. Macau SAR
The ACCA currently is legally recognized with the joint scheme relationships by Macau Society of Certified Practising Accountants (Local statutory accountancy body) in Macau.
3. Taiwan
According to the rules 6(iii) & 9 of accountancy examiniation published by Taiwan government, the British qualified accountants - ACCA members or Chartered Certified Accountants are entitled to obtain advanced standing in the examinations to become a Certified Public Accountant in Taiwan. (Details)
(B.)Singapore
ACCA and national accountancy body, Institute of Certified Public Accountants of Singapore (ICPAS), have operated a Joint Scheme of Examinations since 1983. The Joint Scheme is based on ACCA's examinations and allows students to sit papers in Singapore law and tax. All students who successfully complete the Joint Scheme examinations satisfy the examination requirements of both ACCA and ICPAS and are eligible to apply for membership of both bodies. ACCA's student numbers in Singapore for the Joint Scheme have topped 11,000.
A blog has been set up at www.acclawsg.wordpress.com to assist those preparing for the Singapore variant law paper.
Singapore government recognizes ACCA qualification to meet her migration skills assessment to immigrate in Singapore.
As of end of 2005, there are 5,161 members in Singapore.
(C.)Malaysia
On the 13th August 2007 ACCA and the Malaysian Institute of Certified Public Accountants (MICPA) signed a mutual recognition agreement (MRA), providing a route for members of both accountancy bodies to join the other body and to enjoy the benefits which both respected designations have to offer.
The ACCA or Chartered Certified Accountant qualification currently is recognized by the Malaysian Institute of Accountants, non MIA member will not be considered as qualified accountant in Malaysia.
ACCA is statutory recognised in Part II of the First Schedule of the Accountants Act, 1967.
As of end of 2005, there are 7,417 members in Malaysia
(D.)Pakistan
The ACCA qualification is legally recognised as Qualified Company Secretary in Pakistan, and there is partial recognition between ACCA and the local statutory accounting body (Institute of Chartered Accountants of Pakistan). ACCA affiliates are exempted first four modules (A-D) of the Institute of Chartered Accountants of Pakistan qualification.
ACCA in Pakistan has seen tremendous growth during the last five years with thousands of students enrolling every year into ACCA programs.
(E.)Others
The ACCA currently is legally recognized by the national accounting institutes with the joint scheme relationships in
Vietnam (The Ministry of Finance of the Socialist Republic of Vietnam);
Brunei (Brunei Institute of Certified Public Accountants);
Cambodia (The Ministry of Economy and Finance Kampuchea Institute of Certified Public Accountants and Auditors);
Laos (The Ministry of Finance of the Lao People's Democratic Republic).
Professional Partners
Through a range of partnerships with professional institutions, ACCA offers students and members access to other related professionals.
The full members of ACCA are one of two professional bodies' members (Another is the charterholders of Chartered Financial Analyst (CFA)) to be recognized by UK's Securities & Investment Institute (SII) as the equivalent level of SII full membership (MSI). (Details) Full membership of SII is recognized by several national investment professional bodies such as in Australia (Financial Services Institute of Australasia (Finsia), formerly the Australian Institute of Banking and Finance) and Hong Kong (Hong Kong Securities Institute (HKSI).
ACCA and Financial Services Institute of Australasia (Finsia), formerly the Australian Institute of Banking and Finance) have signed a global partnership agreement. Under the agreement, students and members of ACCA may obtain advanced standing in the Institute examinations.
ACCA and the Institute of Internal Auditors (IIA) have signed a global partnership agreement. Under the agreement, the two organisations will co-operate, collaborate and share resources across their global networks of offices and affiliate bodies.
ACCA and the Chartered Institute of Taxation (CIOT) have signed a global partnership agreement to enable ACCAâs members worldwide to take the CIOTâs Advanced Diploma in International Taxation (ADIT).
ACCA members may access an accelerated route to Associate membership of the UK Association of Corporate Treasurers(ACT).
ACCA and Investors in People (IIP) have signed an agreement that will enable IIP recognised organisations in the UK and Ireland to apply directly for the award of ACCA Approved Employer (professional developments stream), that means ACCA members working in IIP recognised organisations will benefit from the recognition of the work-related learning they obtain and will be able to take advantage of simplified CPD reporting.
Institute of Directors (IoD) and ACCA are working on a number of initiatives to promote an agenda of good governance and high standards in learning and development. From 2007, ACCA members seeking to enhance their skills and improve the performance of their organisation will be able to undertake the Chartered Director qualification â a professional qualification for directors. [5]
Institute of Management Accountants (IMA) in United States has agreed that Chartered Certified Accountants (ACCA) only have to pass four-papers final examination to get the Certified Management Accountant (CMA) designation. This is not based on a specific agreement but is the result of IMA's policy and similar accreditation is given to many other IFAC bodies, as well as to others with the equivalent of a U.S. bachelors degree (any discipline).
WELL NOW I GUESS ONLY THE CONTINENT ANTARTICA IS LEFT
it a copied information but i thought better to share if anyone is unaware of it OR HAS NEVER READ IT ANYWHERE.
i'm sorry if i was offensive in my last message.
take care.
VERY BEST REGARDS
ALI.
This is the kind of reply we expect from someone senior. instead of elaborating and pointing out the history, you should point out the areas where any(not sticking to one) qualification qualification lacks. well personally i dont think that any professional body lacks in any area.
ICAPs are familiar with pakistan's taxation and law etc. so they need good practice for uk tax and law.same is the case with te ACCAs. Although ACCAs have firm knowledge of uk tax and Law but they need to have a good practice of pakistan's tax and law.
this is why ICAP are preferred over ACCAs in PAKISTAN. but if we compare the same in uk for example, then with no doubt ACCAs would be peferred over ICAPians( if there's any)
well here's some information regarding ACCA. hope you'll like it
(copied)
Europe
(A.)United Kingdom and Republic of Ireland
The ACCA or Chartered Certified Accountant qualification is fully recognised in the United Kingdom and Republic of Ireland.
Under the Royal Charter granted by Her Majesty the Queen, ACCA works in the public interest.
ACCA is a Designated Professional Body under the Financial Services and Markets Act, licensing firms of Chartered Certified Accountants to conduct a range of incidental investment business activities.
ACCA is a Recognised Professional Body under the Insolvency Act to issue permits to individual Chartered Certified Accountants to conduct insolvency appointments.
ACCA is also a Recognised Qualifying Body and Recognised Supervisory Body in relation to company auditing under the Companies Act 1989.
ACCA is a member of the Consultative Committee of Accountancy Bodies (CCAB). Members of these bodies are deemed to hold equivalent-level qualifications and advertisements for jobs often state that an organisation is looking for a CCAB-qualified individual.
Full members of CCAB organisations including ACCA can apply for ICAEW membership subject to certain criteria. Details
Only ACCA, ICAEW, ICAI and ICAS are able to authorise members to conduct audit, insolvency and investment business work in the United Kingdom and Republic of Ireland.
Outside these countries, legal recognition by government authorities, and mutual recognition by equivalent overseas institutes, varies from country to country. Even where full legal or mutual recognition is not available, ACCA members can sometimes obtain advanced standing in terms of sitting local accountancy examinations. Additionally, in many instances, ACCA's strong global reputation may obviate the need to acquire a local designation.
Similarly, many (although not all) universities and educational providers will recognise ACCA as equivalent to at least a Masters degree in accountancy, for the purpose of obtaining credit to acquire a local Masters degree or enter an advanced study program.
The Irish educational regulatory authorities - Higher Education and Training Awards Council (HETAC) has assigned ACCA Qualification to Level 9 of the Irish National Qualifications Framework (NQF) in 2008. Level 9 holds Irish postgraduate qualifications, such as postgraduate diplomas and masters degrees.
(B.)European Union (EU), European Economic Area (EEA) & Switzerland
The ACCA qualification is legally recognized by all member countries of the European Union under the Mutual Recognition Directive. This recognition extends to the European Economic Area nations and Switzerland. For example a holder of the ACCA or Chartered Certified Accountant qualification could practice as an accountant in all member countries of the European Union, European Economic Area and Switzerland, but could only describe him/herself as ACCA or Chartered Certified Accountant rather than local professional accountant qualification. Access to local professional qualifications is based on an aptitude test. However, it is necessary to be a citizen of one of the EEA states or Switzerland to benefit from this Directive.
(C.)Turkey
ACCA and TÃRMOB (The Union of Chambers of Certified Public Accountants of Turkey) at Turkey signed a partnership agreement in 2004 which enables TÃRMOB members resident in Turkey to follow the ACCA Professional Scheme qualification and achieve ACCA membership.
(D.)Others
The ACCA currently is recognized by the national accounting institutes with the joint scheme relationships in
Armenia (Association of Accountants and Auditors in Armenia);
Georgia (Georgian Federation of Professional Accountants and Auditors).
As of end of 2006, there are 64,574 members and 91,379 students/affiliates in Western Europe, UK and Ireland, as well as 3,279 members and 17,273 students/affiliates in Central/Eastern Europe respectively.
North America
(A.)United States (US)
A mutual recognition between ACCA and AICPA/NASBA does not exist, but is under negotiation as of December 2006. However, it has effectively been put on hold pending a decision by the UK regulatory body, the Professional Oversight Board of Accountancy (POBA). It should also be noted that even if ACCA gained statutory recognition, it would still be up to the individual states to grant reciprocity within their state. [2]
Currently ACCA membership is recognised by the Colorado State Board of Accountancy as meeting the educational requirements to sit for the US Uniform Certified Public Accountant Examination. The majority of ACCA members who pass the CPA exam may apply for licensing as a Certified Public Accountant (CPA) in the state of Colorado, USA after completing a qualifications evaluation.
As of 2002, World Education Services (WES) indicated that the evaluation awarded 9 U.S. semester credits for every subject passed in ACCA exams resulting in a total of 126 U.S. semester credits based on ACCA studies, so it allows ACCA associate members to sit for uniform CPA examination at the states with 120 U.S. semester credits requirements. [3]
As of end of 2005, there are 1,315 members in USA.
(B.)Canada
ACCA announced a Mutual Recognition Agreement with CGA Canada effective from 1 January 2007. [2]
ACCA is recognized by Canadian government as an eligible qualification to audit federal government institutions in Canada [3]
As of 2006, Canadian Institute of Chartered Accountants, World Education Services (WES) 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. [4]
The Canadian branch of ACCA is pursuing recognition for statutory audit purposes in the province of Ontario under the province's Public Accounting Act of 2004
As of 2006, ACCA has 1,100 members and over 400 students residing in Canada, the largest concentration of which live in Ontario.
Oceania
(A.)Australia
The ACCA qualification is statutory recognised as a prescribed body for insolvency purposes under the Corporation Act 2001, section 1282 and for audit purposes by ASIC under Practice Statement 180 Auditor recognition in Australia.
For migration purposes, the Institute of Chartered Accountants of Australia and National Institute of Accountants recognise the ACCA qualification as sufficient to obtain a skill assessment as an Accountant for the purpose of migration to Australia.
There is no mutual recognition agreement in place with the Institute of Chartered Accountants of Australia (ICAA) or CPA Australia (CPAA).
The ACCA qualification is recognised as at least equivalent to an Australian bachelors degree in accountancy (although not by CPA Australia). This allows ACCA members to obtain a direct entry to the examinations or advanced standing from Institute of Chartered Accountants of Australia or National Institute of Accountants.
Subject to passing exams in Australian tax and law, ACCA members may obtain the Professional National Accountant (PNA) designation from the National Institute of Accountants. On the same basis, ACCA members can obtain direct entry to the CA Program of the ICAA.
As of end of 2007, there are 1,817 members in Australia.
(B.)New Zealand
The ACCA qualification is statutory recognised in New Zealand legislation for registration to perform statutory audit work. ACCA is gazetted under the relevant act (Under Section 199 of the Companies Act 1993 Qualifications of Auditors) in New Zealand. An ACCA member can practice as long as they hold an ACCA public practice certificate (with audit qualification) in their country of origin.
A mutual recognition agreement existed between ACCA and the New Zealand Institute of Chartered Accountants (NZICA). This was terminated by NZICA on 1 January 2003 and replaced with a new limited recognition of the ACCA qualification. Details (MS Word)
Caribbean, Central & South America
The ACCA qualification currently is legally recognized by the national accounting institutes with the joint scheme relationships in
Barbados (Institute of Chartered Accountants of Barbados);
Bahamas (Bahamas Institute of Chartered Accountants);
Belize (Institute of Chartered Accountants of Belize);
Dominica (Recognized by Companies Act 1994 in the Commonwealth of Dominica);
Guyana (Institute of Chartered Accountants of Guyana);
Jamaica (Institute of Chartered Accountants of Jamaica);
Trinidad and Tobago (Institute of Chartered Accountants of Trinidad and Tobago);
Saint Lucia (Institute of Chartered Accountants of Saint Lucia);
The ACCA qualification is legally recognized in the following jurisdictions
French Guiana (Part of France and hence subject to European Union regulations).
Africa
(A.)South Africa
The ACCA qualification currently is recognized by the South African Institute of Professional Accountants (SAIPA).
The ACCA Professional Scheme has been registered at Level 7 (equivalent to master degree level) on the South African National Qualifications Framework (NQF)in South Africa.
(B.)Zimbabwe
ACCA Zimbabwe is one of the constituent bodies of the Public Accountants and Auditors Board (PAAB). The PAAB is a statutory body established in 1996, to oversee the regulation of the profession and maintain a register of persons entitled to work or practise as public accountants or public auditors in Zimbabwe. Only members in good standing of ACCA and Institute of Chartered Accountants of Zimbabwe register as auditors.
(C.)Others
The ACCA qualification currently is legally recognized by the national accounting institutes with the joint scheme relationships in
Ghana ([Institute of Chartered Accountants of Ghana])
Botswana (Botswana Institute of Accountants);
Egypt (The Egyptian Society of Accountants & Auditors);
Ethiopia (The Ethiopian Professional Association of Accountants and Auditors);
Lesotho (Lesotho Institute of Accountants);
Malawi (The Society of Accountants in Malawi);
Mauritius (The National Equivalence Council of Mauritius);
Nigeria (Institute of Chartered Accountants of Nigeria);
Sierra Leone (Institute of Chartered Accountants of Sierra Leone);
Swaziland (Swaziland Institute of Accountants);
Zambia (Zambia Institute of Chartered Accountants);
Tanzania (National Board of Accountants and Auditors).
Asia
(A.)China
1. Hong Kong SAR
A new Agreement of Recognition Arrangement (ARA) between ACCA and HKICPA (Local statutory accountancy body) was put in place on 22 August 2006, backdated to 1 July 2005. Details.
This replaced the old Mutual Recognition Agreement (MRA) that was terminated by HKICPA on 30 June 2005. It was a disaster for ACCA members when they had to go through so called "8 unfair terms" e.g.holding a degree recognized by HKICPA (ACCA degree offered by OUB was failed in the test), worked under HKICPA authorized employers,attend workshop, passed Final Professional Examination (FPE) etc.
On the contrary, HKICPA members could join in ACCA without any further requirement.
However, ACCA qualification is highly recognized by the Hong Kong employment market due to international and historical influences. Most HKICPA members qualified through HKSA-ACCA joint scheme which was operated for more than 20 years. HKSA (Hong Kong Society of Accountants) was the old name of HKICPA.
As of end of 2005, there are 16,609 members in Hong Kong SAR
2. Macau SAR
The ACCA currently is legally recognized with the joint scheme relationships by Macau Society of Certified Practising Accountants (Local statutory accountancy body) in Macau.
3. Taiwan
According to the rules 6(iii) & 9 of accountancy examiniation published by Taiwan government, the British qualified accountants - ACCA members or Chartered Certified Accountants are entitled to obtain advanced standing in the examinations to become a Certified Public Accountant in Taiwan. (Details)
(B.)Singapore
ACCA and national accountancy body, Institute of Certified Public Accountants of Singapore (ICPAS), have operated a Joint Scheme of Examinations since 1983. The Joint Scheme is based on ACCA's examinations and allows students to sit papers in Singapore law and tax. All students who successfully complete the Joint Scheme examinations satisfy the examination requirements of both ACCA and ICPAS and are eligible to apply for membership of both bodies. ACCA's student numbers in Singapore for the Joint Scheme have topped 11,000.
A blog has been set up at www.acclawsg.wordpress.com to assist those preparing for the Singapore variant law paper.
Singapore government recognizes ACCA qualification to meet her migration skills assessment to immigrate in Singapore.
As of end of 2005, there are 5,161 members in Singapore.
(C.)Malaysia
On the 13th August 2007 ACCA and the Malaysian Institute of Certified Public Accountants (MICPA) signed a mutual recognition agreement (MRA), providing a route for members of both accountancy bodies to join the other body and to enjoy the benefits which both respected designations have to offer.
The ACCA or Chartered Certified Accountant qualification currently is recognized by the Malaysian Institute of Accountants, non MIA member will not be considered as qualified accountant in Malaysia.
ACCA is statutory recognised in Part II of the First Schedule of the Accountants Act, 1967.
As of end of 2005, there are 7,417 members in Malaysia
(D.)Pakistan
The ACCA qualification is legally recognised as Qualified Company Secretary in Pakistan, and there is partial recognition between ACCA and the local statutory accounting body (Institute of Chartered Accountants of Pakistan). ACCA affiliates are exempted first four modules (A-D) of the Institute of Chartered Accountants of Pakistan qualification.
ACCA in Pakistan has seen tremendous growth during the last five years with thousands of students enrolling every year into ACCA programs.
(E.)Others
The ACCA currently is legally recognized by the national accounting institutes with the joint scheme relationships in
Vietnam (The Ministry of Finance of the Socialist Republic of Vietnam);
Brunei (Brunei Institute of Certified Public Accountants);
Cambodia (The Ministry of Economy and Finance Kampuchea Institute of Certified Public Accountants and Auditors);
Laos (The Ministry of Finance of the Lao People's Democratic Republic).
Professional Partners
Through a range of partnerships with professional institutions, ACCA offers students and members access to other related professionals.
The full members of ACCA are one of two professional bodies' members (Another is the charterholders of Chartered Financial Analyst (CFA)) to be recognized by UK's Securities & Investment Institute (SII) as the equivalent level of SII full membership (MSI). (Details) Full membership of SII is recognized by several national investment professional bodies such as in Australia (Financial Services Institute of Australasia (Finsia), formerly the Australian Institute of Banking and Finance) and Hong Kong (Hong Kong Securities Institute (HKSI).
ACCA and Financial Services Institute of Australasia (Finsia), formerly the Australian Institute of Banking and Finance) have signed a global partnership agreement. Under the agreement, students and members of ACCA may obtain advanced standing in the Institute examinations.
ACCA and the Institute of Internal Auditors (IIA) have signed a global partnership agreement. Under the agreement, the two organisations will co-operate, collaborate and share resources across their global networks of offices and affiliate bodies.
ACCA and the Chartered Institute of Taxation (CIOT) have signed a global partnership agreement to enable ACCAâs members worldwide to take the CIOTâs Advanced Diploma in International Taxation (ADIT).
ACCA members may access an accelerated route to Associate membership of the UK Association of Corporate Treasurers(ACT).
ACCA and Investors in People (IIP) have signed an agreement that will enable IIP recognised organisations in the UK and Ireland to apply directly for the award of ACCA Approved Employer (professional developments stream), that means ACCA members working in IIP recognised organisations will benefit from the recognition of the work-related learning they obtain and will be able to take advantage of simplified CPD reporting.
Institute of Directors (IoD) and ACCA are working on a number of initiatives to promote an agenda of good governance and high standards in learning and development. From 2007, ACCA members seeking to enhance their skills and improve the performance of their organisation will be able to undertake the Chartered Director qualification â a professional qualification for directors. [5]
Institute of Management Accountants (IMA) in United States has agreed that Chartered Certified Accountants (ACCA) only have to pass four-papers final examination to get the Certified Management Accountant (CMA) designation. This is not based on a specific agreement but is the result of IMA's policy and similar accreditation is given to many other IFAC bodies, as well as to others with the equivalent of a U.S. bachelors degree (any discipline).
WELL NOW I GUESS ONLY THE CONTINENT ANTARTICA IS LEFT
it a copied information but i thought better to share if anyone is unaware of it OR HAS NEVER READ IT ANYWHERE.
i'm sorry if i was offensive in my last message.
take care.
VERY BEST REGARDS
ALI.