The English ICA has unveiled plans for a new qualification, the Professional Accountancy Certificate, for people who make it halfway through its membership exams.
Under proposals to be put to members in June, the qualification will be awarded to students who pass the first stage of a new two-part exam structure the institute is hoping to introduce in Autumn 2000.
Students seeking the PAC will not be required to enter a training contract or undertake work experience – both compulsory components of institute membership.
Officials have denied suggestions that the PAC will compete with the Association of Accounting Technicians qualification, which is sponsored by the institute.
‘PAC is very different from the AAT qualification, whose emphasis is on technical skills,’ said Phil Armitage, the institute’s director of education and training. ‘Those who chose the PAC as a qualification in its own right are likely to either need or wish to acquire a knowledge of the concepts or principles of accountancy, but whose intended careers do not require them to develop the technical expertise of a chartered accountant.’
AAT education and training director Jeanette Purcell said she had raised initial concerns about the PAC, but now supported its introduction. The institute is understood to be hoping the PAC will be particularly successful overseas.
The English ICA aims to slash its joining fee by #150 to around #300 to appear ‘more welcoming’.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel