Institutes - Tax institute snipes at ICAEW advanced diploma
The English ICA has introduced three new ‘advanced’ qualifications for experienced accountants, but members do not have to sit any exams to obtain them.
It is planning to award advanced diplomas in corporate finance, IT and tax to members willing to part with a £650 fee and undergo assessment in a three-hour interview with two fellow experts.
Rival bodies have responded sceptically to the institute’s claim that the diplomas will become the ‘industry standard for specialist skills’.
Predicting the demise of the new tax diploma, Keith Daniels, president of the Chartered Institute of Taxation, said: ‘If that is their attempt to penetrate the tax marketplace, then it is pretty feeble.’
But English ICA president Chris Swinson insisted assessment of those applying for the diplomas would be rigorous.
‘If it is seen as an easy option, then it won’t be regarded as a serious qualification,’ he said.
He added: ‘The awards provide a framework for personal development and evidence of knowledge in action.’
Applicants for the diplomas must have at least five years’ experience in their area.