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Hello,
I was just wondering if anyone has suspended their student membership and what this means going forwards?
I was exempt from applied knowledge exams, and I have completed some of the applied skills exams.
I have the possible opportunity to complete some self employed work alongside my employment, and I am aware as an ACCA student this is not allowed.
If I suspended my membership to be able to undertake this, would all my hard work be lost?
Could I possibly reinstate my student membership at a later date and continue my studies from where I left off if I was no longer undertaking self employed work?
Hopefully these are not silly questions, I have not been able to find any information that seems to clearly relate to these circumstances.
I am aware there are reinstatement fees, but what I read seemed to be more aimed at members who had failed to pay membership fees etc rather than choosing to suspend membership.
I am most concerned as to if my exam passes that I already have under my belt will still be valid in the future if I wished to recommence studies.Even when students are on a career break, suspending membership – which means de-registering – is relatively rare rather than the norm and would require contacting the ACCA directly. There is no standard form for this. (As you say, most students are deregistered through failure to pay fees.)
It seems strange indeed that you should want to deregister when you are in work as this should contribute to your PER. I do not know why you say “this is not allowed”; as long as your employer agrees, there is no reason why you should not also undertake other work in a self-employed capacity. If your employer does not agree then suspending membership is not the answer (!)
Hi Kim,
Thank you for your reply.
The issue is not with my employer, it is with ACCA deeming me to be in “public practice” if I chose to provide services as a self employed individual.
My employer is happy for me to undertake additional work outside of my employment.
From what I understand ACCA students are not permitted outside of employment to undertake work beyond basic bookkeeping, otherwise they are deemed to be in public practice?
So to be able to provide services beyond basic bookkeeping, as a self employed individual I would need to suspend my student membership?Someone in public practice can accept an appointment as auditor, sign accounts, provide certificates of tax returns, etc. These are regulated activities which require the practitioner to be licenced – you cannot apply for a licence unless you are eligible which usually means qualified and having met practical experience requirements, etc. To engage in public practice without a licence would make you liable to prosecution, etc.
Surely if you aspire to public practice you would be better investing your time in qualifying as soon as possible?
This is exactly my point, to be in public practice whilst registered with ACCA would mean needing their licence, which at the moment is not possible as a student member.
If I suspended membership from ACCA I would be able to be licenced via AAT, and engage in many of the above services (that are beyond basic bookkeeping) under their licence.This leads me back to my original query, as I don’t like to think the time and effort I have already invested in to ACCA would be completely wasted, what happens with the exam passes I have already gained if I suspended membership? Would I be able to re-instate my membership at some point in the future (if I discontinued public practice) and pick up where I left off?
Feasibly due to work and life commitments I am looking at 2+ years to complete ACCA exams if I continue with them at the present time, plus 2 years post membership experience on top of that to meet ACCA’s practicing certificate requirements – that’s a very long time to wait when an opportunity has arisen now.
I don’t think the ACCA’s regulations are meant to “disqualify” someone from carrying out an activity if they hold a valid (alternative) licence for it – only you would not be able to describe yourself as “Chartered” or anything that might mislead the public regarding your credentials. I would advise you to contact ACCA directly – yes if you deregister you can re-register for a fee – but it would be better to continue registration and have your experience count toward PER. Your circumstances are so particular I cannot direct you to any other authority.
Thank you for your thoughts and input Kim, it has been good to discuss the situation.
I will contact ACCA and clarify with them if I am able to work under an alternative bodies licence.
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