Will regulation protect the public from duff accountants

Legislation doesn't protect us from criminals ... it just makes it possible to prosecute them.

Likewise, despite legislation and regulation, the banks and many others still rip us off with mis-selling and other money grabbing schemes, and although legislation doesn't stop it happening, it does help in getting recompense once they are proven to have deceived their customers.

You can't stop greed and dishonesty with regulation or legislation.

 There are too many cowboys out there and duff organizations.

Franchise 'accountants' with 5 weeks!! training to get an FTA ( IFA badge) .This is nothing less than outright fraud on an unsuspecting public and gives all legitimate accountants a bad name because the public assumes that everyone calling themselves an accountant does so under a proper and legitimate lic.

I know some IFA 'Accountants' who have gained an IFA practising lic and do not know what a balance sheet is , nor a profit and loss account, nor what assets and liabilities are- yes that is absolutely true.

Can you imagine if  unqualified lawyers could call themselves solicitors and barristers in advertising etc without consequence.

Further more only EU based accountancy bodies recognised at the highest levels by their respective governments be allowed to let their members refer to themsleves as 'accountants' by law.

In the UK the word accountant should be legally restricted to only Accounting Bodies under Royal Charter and only practising members of the ACCA and ICAEW allowed to provide accountancy services to the general public.

I strongly believe that ACCA should change direction . Its Globalisation strategy is best served by focusing at home and protecting and enhancing its brand here. By that I mean possible merger with CIPFA as well as ICAS and ICAI on equal terms.

The term Chartered Certified Accountant is a stupid  brand name to protect . I just drop the certified as per privvy council directive 1996.

A new body maybe  Association of Chartered Professional Accountants result from these mergers. Rebranding should not be an issue.

With reference to CIMA now CGMA, they should lose their Royal Charter as they no longer belong to CCAB, but more importantly they do not have the capabilities of serving the public as practising accountants. Most CIMA/CGMAs specialise in one aspect of Accountancy i.e Cost and Management accounting ( tax , audit and financial accounting are only fringe issues in their training and syllabus). CIMA/CGMAs should legally not be allowed to practise unless their study/qualify with either ICAEW or ACCA.

It is funny how many idiotic ACCAs with an inferiority complex tried to abandon ship and jump to the ICAEW ( old tired and spent ) brand through thei ICAEW pathways program.

What a bunch of fools , those of you in small practices or industry.

ICAEW carefully constructed this so called conversion program to first get you and your lack of self worth low esteem personalities to their pathways seminars only to laugh in your face when you ( most of you) realize how odious and daunting even impossible conversion would be in your individual curcumstances.

There you were on your hands and knees begging them to accept you and there they were telling you that you were not good enough.

Idiots!!

You were as good and in many cases better all along . They are running scared and you played into their hands and humilated ACCA brand in the process in public!!

No ICAEW's strategy was really aimed at protecting their positions at the highest levels at the largest/most established/global/influential  accounting firms in the UK. Over the last 20 years they had lost incredible ground to the ACCA in these organizations . Suddenly by 2005 , ACCA was seen as eaqual in brand and status to ICAEW in the vast majority of these organizations.

ICAEW had to do something to protect and shore up its ever diminishing brand edge over ACCA , and as sneaky as ever - the ambush- pathways to ICAEW..

Get ACCA members in those influential orgs to transfer to ICAEW and so re affirm ICAEW's influence and status in the halls of power and in so doing relegate ACCA to second class status.

Well I am very proud to be an ACCA practising accountant and it is making me alot of money  both in practise and industry . I wear my ACCA designation with pride and will not change it for any other organization in the world.

It has brought me great status and wealth and I can only pity some of you second raters for trying to jump ship.. for what..would it make you feel better about your selves? maybe if you are an idiot with an inferiority complex but  no new business nor salary incease would result from this, I can assure you.

I frequently see ACCA members on these boards slaging off the association, quite right when it is justified e.g this nonsense globalisation strategy if you can call it that.

This is really putting the cart before the horse. You get the impression that those on the executives are using the association as one big gravy train to travel here and thre to sign meaningless agreements that see us give the farm away for nothing in return to accounting bodies that laugh at us in the face and then belittle the equivalence of our hard earned qualifications. that hurts a lot.

Take the Canadians for instance. I orginate from the Caribbean where the ACCA is viewed with a strong element of genuine awe . The less gifted and able opt for the CGA. That has always been the case.

Yet we let them, the CGA dictate terms to us. Canada only has 20 million people and the CGA is seen as very much the number 2 there. No wonder that the ICAA treat us like we are no more than a cowboy outfit.

What has the ACCA gained from this , absolutely nothing. Yes there are a few ACCAs who have been able to convert but what about those that did not choose to do a degree and choose just to do ACCA instead . Left out in the cold for a second rate qualification and yet the ACCA trumpets this as a major acheivemment.

Now what do the Canadian accounting bodies do they get the canadian legislative bodies to enact laws that literally prevent ACCA  from having any sort of public recognition in Canada at all. In effect lock that market up.Protectionisn in another word.

That is what Chartered Accountancy bodies should do in the UK and EU. There are 400miliion in EU as opposed to 20 million in Canada. Tell me who will cave in the end?

Now people barrack the ACCA for not being supportive ... excuse me!! if there is a more supportive and helpful organization of its size anywhere in the wolrd I have not come accross it and I have had to deal with many. The ACCA bends backwards for its members and are usually very very polite and helpful. 10/10

People keep moaning about  how the Association is not doing this and that for them . What a pathetic way to view things because you pay a tiny yes tiny annual membership fee.

The responsibility goes both ways . Stop acting like you are on welfare , get you finger out get on your bike and together let us all make each other proud of who we are.

Ask not what your association can do for you ask what you can do for your association.

Did not mean ICAA - That is Austrailia ( but same thing happened anyhow)

Should have  said CICA /ICAO

CGA is a great world class acceditation

My brother who is a CGA would attest to that