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is the ACCA more difficult? the option papers in ACCA have very low passing rates which scares me (around 30-40%), whereas the advance level of the icaew and in general all of their papers have passing rates of 75-80%. Why? Are we (ACCA) stupid?
No, to all of your points 🙂
The level of difficulty and the standard of marking is similar for both qualifications.
What you must appreciate is that the students entitled to sit for the ICAEW exams are mainly already working for one of the major accountancy firms, whereas the ACCA exams are open to all.
Obviously for both qualifications a degree of intelligence and a commitment to studying is required. Students who are intelligent and who are prepared to commit the necessary time to studying are capable of passing, whether it be ICAEW or ACCA.
John, Does this mean that only students who are working major accountancy firms will be entitled to enroll for ICAEW exams?? or you mean to say that students would be doing their 3 year article ship (as they call in India for ICAI) in any one of the CA firms whereas ACCA students need not necessarily working with an audit firm.
In such case do you mean to say that those students who are working with audit firms stand a better chance to crack the exams be it ACCA or ICAEW??
I doubt, because in India it is compulsory that you have to do 3 year article ship (experience) with an audit firm and post completion of article ship only you will be allowed to sit for final exams of ICAI. You will not believe that the pass rate for the last session was 9%!!!!!!. It never crossed 15% in the 60 year history of ICAI exams. ICAI even provide the copies of evaluated scripts to the students to identify their weaknesses to better prepare for future exams. The exam structure is group and only aggregate mark need to be 50%, where the pass mark for one subject is 40%. The syllabus of ICAI is not globally relevant (the reason why I never tried this qualification) , the fact recently admitted by its president Mr. Raghu and they are effecting sea change to the syllabus from 2016.
While I agree to your points, I would like to believe that ACCA exams are a notch higher in terms of standard, relevancy and toughness that will ultimately benefit the students.
No – I said that they are mainly working for accountancy firms. Although it is possible to study independently, most students train with an approved employer (most, but not all, are firms of accountants). Approved employers pay for the exam training.
As a result there are far fewer students studying by themselves for the ICAEW than for the ACCA.
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