ACCA offers exemption for other professional accountancy qualifications

Wednesday, 28 January 2015 00:00 -     - {{hitsCtrl.values.hits}}

To reach far on the corporate ladder, professionals are expected to furnish more and more paper qualifications to support their experiences and skill levels. As such, more often than not they are faced with the dilemma of studying the same old theories and lessons over and over under differently named qualifications and courses. To eliminate this and to enable easy access to higher education qualifications, the largest and fastest growing global professional accountancy body the Association of Chartered Certified Accountants (ACCA) is now offering exemptions for students who have obtained credentials of relevant accountancy qualifications prior to starting the ACCA’s qualification program. Under this exemption scheme, students can now refrain from undertaking all exams listed in the ACCA Qualification or at the foundation level, and can instead start studying at their level of knowledge ascertained through other qualification programs. Students who have completed CIMA, CMA and CA Sri Lanka’s examinations will be exempted from the first nine papers of ACCA while those who are part qualified in these examinations will be exempted on a paper to paper basis. To claim the exemptions, a student must send official proof of any qualifications – such as academic transcripts or award certificates along with their registration form so that ACCA can assess their eligibility for the exemptions. ACCA notes that online printouts of academic transcripts are not acceptable and only copies of official documentation, signed and stamped by the awarding body will be accepted. ACCA is the first international UK accounting body that has accepted the CMA and CA Sri Lanka qualification for the purpose of granting exemptions. By doing so, it has opened a window of opportunity for locally qualified accountants to continue their education and better their career prospects, by pursuing a globally renowned professional qualification which is flexible and accessible to all. “ACCA will continue to work closely with other accountancy professions in the country to formalise our relationship, to share views, and to work towards the development of the accountancy profession through mutual co-operation,” ACCA Sri Lanka Head Nilusha Ranasinghe said.