RegulationAccounting StandardsICAEW accused of selling ACA cheap

ICAEW accused of selling ACA cheap

ICAEW's advert for ACA qualification enrages rival institutes for being cheap and burnishing the qualification's credentials

The ICAEW has been accused of selling its qualification cheaply, following an
ad campaign that encouraged members from rivals to gain the institute’s ACA
qualification ‘without study or formal exams’.

The advert, which appeared in Malaysian business magazine, The
Edge
, has enraged rival institutes and is likely to irritate ICAEW critics
who believe the institute is not doing enough to burnish the credentials of the
supposedly superior ACA qualification.

‘The ICAEW should now admit that it is an equivalent qualification to ACCA,
as it is prepared to take ACCA members without formal assessment: the members of
accountancy bodies are professionals who have completed high-quality formal
qualifications, not people who buy membership of a club,’ an ACCA spokesman said
of the advert.

In response to criticism, the ICAEW said candidates would still be
‘rigorously assessed’ by the institute’s assessment committee. The candidates do
not have to attend an ICAEW exam centre, which explained the wording ‘without
formal exams’ in the advert.

An ICAEW statement said: ‘If this has been misinterpreted, for whatever
reason, then details will be clarified at the workshops promoted by the
advertisement. ICAEW is committed to attracting high-quality applicants through
this innovative scheme which is receiving popular support in Malaysia.’

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