1.
How long will it take to complete the ACCA qualification
under the new scheme?
It
is anticipated that students will progress through
the new scheme at a similar rate to the previous
scheme. All students will have a time limit
of ten years to complete their examinations from registration
or conversion apart from those wishing to obtain a
UK Practising Certificate (Audit)*. The average
time in which students will be expected to qualify
will be three-four years.
*see
Question 3 below
2.
What is the maximum number of papers which can be
sat at an examination session?
You
can sit up to a maximum of 4 papers at each sitting.
The papers must be attempted in the order they appear
on the syllabus, but as the scheme no longer follows
a modular approach, papers can be attempted one at
a time (apart from core subjects at the final stage
which must be attempted together).
3.
Has there been any change in the time limit available
to complete examinations?
Under
the new scheme, all students will have 10 years to
complete the examinations from their first examination
sitting. However, those who wish to obtain
a UK Practicing Certificate (Audit), and who
have been exempted from all Part 1 and 2 examinations,
will normally be required to complete their Part 3
examinations in a maximum of five years from the award
of these exemptions.
4.
Will variant papers still be available in tax and
law?
Yes,
variant papers which reflect the law and tax of other
countries will continue to be offered under the new
syllabus, where appropriate. In addition, students
can sit papers 1.1, 2.5, 3.1 and 3.6 in accordance
with International Accounting and/or Auditing Standards,
or if they prefer, study for the UK or local versions
of these papers.
5.
Will exemptions still be awarded to non-relevant degree
holders?
No.
Degree holders in subjects other than business studies
and/or accountancy (including economics and mathematics)
will no longer qualify for any exemptions from the
professional examinations. Employers who responded
to the consultation were very firmly of the view that
all aspiring accountants should cover all of the core
skills identified in Part 1.
6.
Will business and/or accounting degree holders still
be eligible for exemptions under the new scheme?
Business
and/or accounting degree holders from recognised institutions
will be able to claim exemptions from some or all
of the papers in Parts 1 and Part 2, up to a maximum
of nine papers. Exemptions will not be available for
any Part 3 papers, irrespective of the qualification.
7.
Will it be possible to take more than the required
two options if I want to?
You
will be allowed to take up to two options before completing
the core papers in Part 3 (3.5, 3.6 and 3.7). You
will be able to attempt further options having cleared
these core papers if you wish to do so. However, students
cannot complete more than two options prior to qualification.
8.
Can I combine an option paper with Core papers?
The
three core papers must be sat together. They can,
however, be sat alongside either an outstanding paper
from Part 2 (providing both options have been completed),
or one of the option papers so long as one of the
option papers has been passed.
9.
Can I change my options?
Yes.
You may sit two optional papers at one examination
diet. If, however, you are unsuccessful in an option(s),
you can choose to change your option(s) at a subsequent
examination session. This facility may be of benefit
to those students whose employment circumstances change.
In addition, once qualified, you will be able to complete
the additional options should your employment circumstances
change.
10.
Has there been a reduction in the financial accounting
element of the syllabus?
No.
In the current scheme of examinations, there are three
financial accounting papers, two of which (papers
3.1 and 3.6) have a percentage of auditing in their
syllabuses. Under the new scheme, there are three
full financial accounting papers - papers 1.1, 2.5
and 3.6.
11. Will the new syllabus increase/enhance
students' prospects of securing employment?
The
new scheme of examinations is based on comprehensive
research which identified the need for future finance
professionals to have a greater insight into their
strategic role combined with strength in the core
accounting disciplines. Examinations in Part 2 focus
on development and testing of these core technical
areas, while examinations in Part 3 are designed to
develop strategic management skills and test their
application in a business context. In addition, the
introduction of choice at the final level will allow
students the flexibility to choose examination papers
to suit their work experience thus increasing the
relevance of the qualification to a wider range of
employment contexts.
12.
My current time limit is due to expire in June 2006.
Does this mean that I will have 10 years from June
2006 to complete the new syllabus (i.e. until June
2016)?
No.
Regardless of current expiry dates, all existing students
will have 10 years to complete the new scheme examinations
from the time of transfer to the new scheme (apart
from those described above in question 3). The 10
years will commence from December 2001, when the new
syllabus is examined for the first time. Therefore,
all existing students who transfer to the new scheme
must complete the examinations by June 2011.
13.
If I resign from the register prior to the introduction
of the new scheme, and subsequently re-register after
its introduction, how long will I have to complete
my examinations?
Any
student who rejoins the register after the introduction
of the new scheme will be granted 10 years (commencing
from the date of implementation the new examination
scheme on 1 January 2001) to complete their remaining
examinations, irrespective of how many years they
were on the ACCA register initially.
14.
If I resign from the register prior to the introduction
of the new scheme, and subsequently re-register after
its introduction, will I have to retake any examinations
passed previously under the old scheme?
No.
All passes gained under the old scheme will be retained
(subject to a referral having been obtained from the
December 2000 session onwards).
15.
Will I have more papers to sit when the syllabus change
comes into effect?
No.
Students will not have additional papers to attempt
following conversion. Conversion for all existing
students will take place in August 2001 when the results
for the June 2001 examinations are issued.
16.
On conversion, will I lose any subjects I have already
been passed/been exempted from?
Permanent
credit will be given on a paper-for-paper basis up
to and including paper 11 for examinations completed
under the existing scheme. Students who gain a referral
in any paper in Module E in the June 2001 examinations
will retain their passes in the two completed subjects,
but will be required to sit the equivalent of the
referred paper under the new scheme. Students will
be expected to complete this paper in accordance with
the ten year rule which applies to completion of the
examinations following conversion to the new syllabus.
Students who gain a referral in any paper in Module
F in the June 2001 examinations will only receive
2 consecutive attempts in which to pass the equivalent
core paper under the new scheme, otherwise all three
core papers must be re-attempted (as per the current
referral rules).
17.
I am currently studying for another accountancy qualification
which receives exemption from papers 1-10 under the
current scheme. Will I receive the same exemptions
under the new scheme in 2001?
No.
Under the new scheme, no qualification will attract
exemption from any Part 3 papers. The maximum exemptions
awarded to any qualification therefore will be papers
1-9. Any student who holds, or will shortly complete,
a qualification which entitles them to 10 exemptions
under the current scheme, should have registered as
a student no later than 31 December 2000 and ensure
they claimed their exemptions no later than 31 January
2001 in order to receive exemption from ten papers.
After this date, the maximum number of exemptions
which can be claimed will be nine papers.
18.
Will I lose subjects I have already been exempted
from on transfer to the new scheme?
No.
Any exemption(s) will receive credit on transfer on
a paper-for-paper basis.
19.
If, on joining the new scheme, I am exempt from Parts
1 and 2 examinations and decide I want to become a
Registered Auditor. I am aware that I will normally
be required to complete the Part 3 exams in 5 years
from the date of my first eligible examination session.
If, after two examination attempts I change my mind,
will I still have to complete part 3 within those
five years?
No,
if you decide that you no longer wish to apply for
Registered Auditor then you will have the standard
10 years to complete Part 3 from the date of the first
examination you are eligible to sit. All students
who wish to attain Registered Auditor status must
complete option 3.1, Audit and Assurance Services.
However the five year time limit ONLY applies to candidates
who are exempt from Parts 1 and 2 of the new scheme.
This time limit does not apply to students registered
before 31.12.00.
20.
If I want to obtain a UK Practising Certificate (General)
or (Consultancy), do I need to complete the Audit
and Assurance paper, 3.1?
It
is only compulsory to complete this paper if you wish
to attain Registered Auditor status and the Practising
Certificate (Audit). If you are obtaining another
UK PC, you can choose any two from the four available
options.
21.
If I want to obtain a UK Practising Certificate (Audit),
do I have to complete the Advanced Taxation paper,
3.2?
It
is only compulsory to complete the Audit and Assurance
paper, 3.1 in order to attain UK Registered Auditor
status. Students may choose any of the remaining papers
3.2-3.4 as their second option, although if they intend
to specialise in audit and taxation, it may be sensible
to select paper 3.2. If you are obtaining another
UK PC, you can choose any two from the four available
options.
22.My
registration has lapsed. How do I re-register?
If
you wish to rejoin ACCA you should request a re-registration
form contact ---here---[New
window] Please ensure you include your full
name, registration number, full current address to
enable ACCA to send you the relevant form. Please
note the re-registration form cannot be sent by email.
You
may be required a re-registration fee and additional
penalty fee if you resigned or removed from the register
with fees outstanding in your account.
23.
What is the pass rate?
View
the pass rates for the new Professional Scheme syllabus
--here-- (New Window)
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