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Hi!
I am currently an ACCA student. Since I am a graduate, I am entitled to claim exemptions in a few papers. I am willing to claim exemptions in LW, PM, and FM. I have passed the remaining papers in Fundamentals and Skills level.
If I want to transition to ICAEW after I complete the ACCA professional level, can I claim exemptions in ICAEW despite the 3 exemptions in ACCA?Looking at this https://www.icaew.com/for-current-aca-students/credit-for-prior-learning/apply-for-credits-academic-qualification, I think you would claim exemptions based on your degree and for each ACCA exam passed separately if you “transitioned” before 5 years ACCA membership.
If an ACCA member for 5 years you could apply for direct membership https://www.icaew.com/membership/becoming-a-member/members-of-other-bodies/members-of-other-bodies-a-z/acca-members-join-icaew
But I have to ask “why”? The ACCA and ACCA qualifications are equivalent and membership of either are equivalent under UK law. So why pay much higher fees for everything?
As far as I have heard, employers in the UK prefer ACA (ICAEW) for audit roles. I am not sure if this is true since I do not live in the UK.
A qualified accountant is a qualified accountant. In law, the ACCA has the same recognition as the regional Institutes of E&W, (ICAEW), Scotland (ICAS) and Ireland (ICAI).
This job find site https://jobs.accaglobal.com/jobs/united-kingdom can be filtered for approved employers, by region and job role, sector, experience level, etc. In audit, there aren’t many job for newly qualified as compared to qualified because most firms will try and hang on to the trainees that they have qualified – but as many leave, their demand for experience increases. Adding letters ACA to ACCA will not make any difference.
I live in the UK acca and icaew are equally desirable in audit and any other roles. To enter into audit as a new trainee requires passing the strengths assessments and other tough screening processes which have nothing to do with either bodies.
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ACCA (Association of Chartered Certified Accountants) is globally recognized and widely accepted in the UAE, making it a strong choice for finance professionals.
ICAEW (Institute of Chartered Accountants in England and Wales) is prestigious, primarily UK-focused, but valued in auditing and corporate finance roles.
ACCA to ICAEW: ACCA members can transition to ICAEW through Pathways, requiring additional exams.
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