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ACCA - a fading force?

ACCA - a fading force?

Didn't find your answer?

Is it just me, or are others getting frustrated with the way that ACCA seems to be trying to increasingly market itself in a more commercial/mainstream kind of way, and it feels as though the qualification is losing some of its kudos?  It may just be getting old, and becoming a grumpy old man, but the prestige of ACCA just doesn't seem to have the same resonance as the ICAEW any more.

Which, I believe to be a shame......

Replies (35)

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By Duhamel
30th Mar 2016 20:20

If I knew
Then what I know now, I would have done ACA. But my CTA trumps both.

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By cparker87
30th Mar 2016 21:20

eh
What is ACCA?

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By AnnAccountant
30th Mar 2016 21:40

I love your premises

Especially the use of "any more" at the end of the last sentence.

Your post must be a pre-retirement wind up.  I like it.

 

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By Old Greying Accountant
30th Mar 2016 23:06

When ...

... did ACCA ever have the same resonance as ICAEW? must have missed that!

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By djn24
31st Mar 2016 09:21

ACCA

I think ACCA are more worried about student numbers than anything else tbh. Seems to be more profitable.

When I looked at the numbers of students and members it seems that the ICAEW is a minnow compared to ACCA nowadays.

I personally see little difference between ACCA and ICAEW. I'm ACCA and the firm is ICAEW, neither do that much to help the small practice.

Only once in 16 years has anyone said they came to us as they saw we were 'Chartered'- I almost fell of my chair that someone even knew what it was!!!

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By cheekychappy
31st Mar 2016 09:34

All of the professional bodies are a waste of space of small practices, not just the ACCA.

The ICPA offers a lot for small practices. But contrary to popular belief, it is not a qualification.

The qualifications aren't losing their kudos. It's just that the longer you are a member, the more irrelevant they seem.

If you want a senior position in practice or industry, a chartered qualification will go a long way.

As an ACCA I begrudgingly pay my fees. But it is a selling point and can be used in your marketing ... especially if your local competitors and non-chartered.

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By bernard michael
31st Mar 2016 10:30

What is the value of asset

What is the value of the asset base of the ACCA and who owns it - is it the members? 

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By floggy
31st Mar 2016 10:37

I've sat on various ACCA committees including UK practioners network panel.

The problem for all the bodies is that the UK is a mature market with regards to members and student numbers. I believe that is why ACCA has pushed development into Africa and Asia.

No doubt in my mind, ACCA is more widely regarded abroad.

what worries me most from my experience is that it can produce academically good accountants who have very little real world accountancy knowledge and struggle in the workplace.

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By In a Daze
31st Mar 2016 11:28

Dropped my letters 2 years ago

I resigned my ACCA membership 2 years ago and has made no difference to my practice what so ever. I am now regulated by ICPA who give accountants real help in running their practice.

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By johngroganjga
31st Mar 2016 11:57

ICPA

In a Daze wrote:

I am now regulated by ICPA ...

How do they "regulate" you as a matter of interest. I understand that they no doubt provide useful support which their members appreciate, but it is news to me that they "regulate" them.

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By levelheaded1903
31st Mar 2016 14:40

I recently became a member

johngroganjga wrote:

In a Daze wrote:

I am now regulated by ICPA ...

How do they "regulate" you as a matter of interest. I understand that they no doubt provide useful support which their members appreciate, but it is news to me that they "regulate" them.


I recently became a member of ICPA and they asked for 2 references which they did follow up - and also proof of PI, I don't know if they follow up CPD, although I keep up to date with this, being a member of 2 other bodies.
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By cbp99
31st Mar 2016 19:16

.

johngroganjga wrote:

In a Daze wrote:

I am now regulated by ICPA ...

How do they "regulate" you as a matter of interest. I understand that they no doubt provide useful support which their members appreciate, but it is news to me that they "regulate" them.

Also out of interest, how often does the ACCA regulate its practising members by way of audit?

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By In a Daze
31st Mar 2016 12:46

Regulation

Quite true they do not come out and audit your practice.However, i think they will listen to clients who wish to complain about their members.

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By Portia Nina Levin
31st Mar 2016 14:58

I recall having to pass a test to be in the Tufty Club. Google it millennials!

I may still have my badge somewhere.

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By cheekychappy
31st Mar 2016 15:59

Age

Portia Nina Levin wrote:

I recall having to pass a test to be in the Tufty Club. Google it millennials!

I may still have my badge somewhere.

You're older than I thought you were. Though I'm showing my age by not having to Google it.

 

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By T Jarvis
31st Mar 2016 18:12

The ultimate "qualification"

cheekychappy wrote:

Portia Nina Levin wrote:

I recall having to pass a test to be in the Tufty Club. Google it millennials!

I may still have my badge somewhere.

You're older than I thought you were. Though I'm showing my age by not having to Google it.

 

Maybe I should add my Blue Peter badge to my letter heading. 

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By justanaccountant
31st Mar 2016 16:21

Newly qualified ACCA

I'm still within my first year of qualifying with ACCA. From what I've heard from various directors I've worked for, both ACCA and ICAEW, the institutions do very little for their members in small practice.

When I was PQed I remember reading an article stating the ratio of ACCA students to members was disproportionate. It concluded it was because people not seeing any benefit, not necessarily because of their clout or kudos.

 

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By justanaccountant
31st Mar 2016 16:22

That said...

They're great at spamming my inbox!

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By girlofwight
03rd Apr 2016 21:34

And poaching staff...
As well as spamming inboxes, I was more that miffed when they were advertising job vacancies to my staff /trainees using my firms email system. The CX couldn't see what was amiss with that when I complained.

I'm an ACCA member of 28 years; I would struggle to say I've had much in the way of value or benefit from ACCA in that time, other than the kudos of the letters; engagement with them has normally been tense and stressful, and an attitude of indifference meets obstruction. There have been two notable exceptions to that when they were very helpful.

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By TaxSpud
31st Mar 2016 16:26

Having never heard of the ICPA I just googled it and depsite the grandiose address they appear to be operating from a terraced house?! Keeps the costs down I guess. Old enough to have heard of the tufty club but no idea what it is!

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Basset Hound
By Cuchulainn
31st Mar 2016 17:34

ICPA

I would consider joining ICPA myself as they seem to do so much more for the small practitioner than any of the other professional bodies.
But the major drawback for me is they are not a recognised body for AML purposes. This of course means that if you have no alternative regulator in this regard you fall to be regulated by HMRC (no thank you!).

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By In a Daze
31st Mar 2016 21:07

Inspection

Audit is the wrong word. I had one onsite inspection in 15 years. I think the qualification is well respected by employers. for small practice owners i think they should do a lot more. 

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By colinhigginson
01st Apr 2016 10:28

Inspection

Registered auditors are inspected by ACCA at least every 6 years.

Not sure how often ICAEW inspect their auditors.We are an ACCA practice and have had ICAEW in contact quite often, trying to encourage us to send trainees through the Chartered route. I think ICAEW have struggled as a lot of the bigger firms send their trainees through the ICAS route.

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By johngroganjga
01st Apr 2016 10:38

ICAS

colinhigginson wrote:

I think ICAEW have struggled as a lot of the bigger firms send their trainees through the ICAS route.

If you mean the offices in England and Wales of "a lot of the bigger firms" that was indeed happening 10 to 15 years ago, largely for exam syllabus reasons I think, but I have not noticed it happening on a significant scale recently.

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By Sandnickel
01st Apr 2016 11:46

Depressing

I'm 3 exams away from qualification. I've worked in a ICAEW firm that looked down on ACCA qualifications and am now in a position where I'm doing mostly work that doesn't require the level of ACCA skill so already I'm despondent about a qualification I don't yet have!

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By cheekychappy
01st Apr 2016 16:00

Get a new employer

Sandnickel wrote:

I'm 3 exams away from qualification. I've worked in a ICAEW firm that looked down on ACCA qualifications and am now in a position where I'm doing mostly work that doesn't require the level of ACCA skill so already I'm despondent about a qualification I don't yet have!

 

That isn't a snob.

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By Old Greying Accountant
01st Apr 2016 13:09

ACCA Registered Auditors ...

... get a visit at least once every 5 years

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By colinhigginson
01st Apr 2016 15:52

Not necessarily

We have just had a visit and were told that they would then decide whether our next visit was in 2 years, 4 years or 6 years. Straight from the horse's mouth that was.

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By spilly
01st Apr 2016 19:31

Begrudgingly still in
I'm only remaining with the ACCA as I need to be able to use my qualification on client mortgage applications.
I'm also with the IPCA and find it more useful than the ACCA as it's geared up far more for the smaller sized practitioners.
Does anyone else hate the ACCA website? I never seem to be able to find any technical information or guidance easily on it.

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By HeavyMetalMike
01st Apr 2016 22:30

Watching The Last Leg - Friday night.

Up comes an advert for Betfair. I kid you not the "app" or whatever was on the young man's screen was ACCA EDGE.

Spooky. Or maybe our foreign friends are now branching out into Betfair type work?

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By Old Greying Accountant
02nd Apr 2016 13:45

There is a type of accumulater bet...
... Called an ACCA (pronounced acker) that has been around a few years and I am disappointed but not surprised ACCA has done nothing about it as to me it causes confusion

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By AnnAccountant
03rd Apr 2016 01:27

Next year

Betting sites will probably introduce a bet called the "ICPA".

Essentially, you give some money to a Greek/Italian or whatever and, in return, you get to feel like you just about outrank checkout operators and the men who wash the private parts of animals at the zoo.  But you don't.

The bet only costs £100 and helps you feel good about yourself.  On a superficial level.  But deep down, you feel empty.

 

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Basset Hound
By Cuchulainn
03rd Apr 2016 22:43

All fine and dandy except that.....

it seems a growing number of people prefer the ICPA bet to the ACCA bet on account of the better long term odds offered.  

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By knight17
04th Apr 2016 05:25

ACCA should just acquire them

It appears that many people of various bodies are satisfied with ICPA. It would be a smart move to acquire them, if that is possible, and to give them the UK member support department that so many members have complaints.

What support exactly are you lacking from your institute, but getting from ICPA?

Cuchulainn wrote:

it seems a growing number of people prefer the ICPA bet to the ACCA bet on account of the better long term odds offered.  

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By Simontax
12th Apr 2016 11:12

.

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