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Hello,
I need some advice regarding the issue of exemptions from F1, F2 and F3. I was awarded these exemptions based on my business and finance degree. As I completed my degree more than five years ago, ACCA sent me the following information regarding my exemptions:
“As the exemptions awarded to you are based on a qualification gained more than 5 years previously, you are required to forfeit these exemptions and sit the relevant ACCA examinations should you wish to subsequently apply for an ACCA practising certificate and audit qualification for the UK. Should you fail to meet this requirement you will not be eligible to apply for these practising rights once converted to ACCA membership.
If you wish to forfeit any or all of the exemptions awarded to you, please email or write to ACCA confirming the exact exemptions to be forfeited. Please note that you cannot reclaim these exemptions at any time in the future.”Please can anyone help, I cant seem to get a straight answer from anyone at ACCA. Do I forfeit these exemptions? Will it be necessary for the future?
Please help!!!
Thank you
It depends whether you wish to get a practicing certificate – i.e. do you want to offer accountancy and audit services as a firm of accountants.
If you do, then you will need to forfeit the exemptions.
If you do not (so for example, you want to be a chief accountant or finance director in industry) then you will not need a practicing certificate and you do not need to forfeit your exemptions.
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