new standards

jkcjkc Well-KnownPosts: 166Registered
does any one know when the new standards are introduced panicing a bit as some one posted 2010/11. not long to get through levels three and four at 2003 standards, also have been informed all qualifications required at same standards so cant continue level three at a different standard but must begin again. exact date required if possible or a link for more info. need to avoid being stuck between two standards or having to start again.
ps. good luck with ecr and fra hope every one does well
with thanks chelle

Comments

  • SymbolSymbol Feels At Home Posts: 41Registered
    Hello

    Not sure who has told you that you need to pass all exams at the same standard - this is untrue.

    I have just finished technical level where DFS was at 2003 standards and Business and Personal tax was 2008 standards.....

    Just like all exams, once you have passed section 1 and 2 you do not need to resit it again.

    Let me know if you have any further questions
  • jkcjkc Well-Known Posts: 166Registered
    yey

    thats a big worry gone thanks for that info
    chelle
  • CriggersCriggers Feels At Home Posts: 53Registered
    I had heard something similar to what jkc was stating. As DFS, PCR and PEV are all relating to the 2003 standards but the tax exams are something different?

    My former tutor asked me to pass the message on to my friend who had passed the exams but not finished the Unit 10 Report and suggested he should get the report done before the standards change to make sure there are no problems. Should be interesting to find out a bit more really.
  • CriggersCriggers Feels At Home Posts: 53Registered
    http://www.aatglobal.com/AAT_Transitionalarrangements.htm

    Looks like it depends what changes and how much it changes if it is anything like last time.
  • sdvsdv Experienced Mentor Posts: 585Registered
    We have been told at our college;

    1 as from next September (New admission) all the students will be enrolled under the NEW Standards of 2010.

    2 Students who have successfully completed Level 3 will progress onto Level 4 under New Standards. (and Level 2 to Level 3)

    3 Students who have not successfully completed their level 2/3/4 will have a constant opportunity to complete it on CBE until 30th June 2011 (18 months from 1 Jan 2010); and/or take paper based exams in June 2010, Dec 2010 and June 2011. Once successfully completed the current Level, progress on to the next level under new 2010 standards

    4 By the end of June 2011, if students have not successfully completed their levels, students will be able to transfer to the same level under new 2010 standards but may have to do the missing units which were not under 2003 Standards.

    NEW UNITS under Level 4:

    Mandatory Units

    Financial Statements ( Old unit 11 - DFS)
    Budgeting (Old unit 8/9)
    Financial Performance (Old unit 8/9)
    Internal control and accounts system ( PROJECT - old unit 10) - Project not dropped!
    Professional Ethics - NEW unit adopted

    Optional Units (any 2 from the List)

    Credit Management and Control ( old Unit 15)
    Personal Tax
    Business Tax
    External Auditing (Old Unitn17)

    Hope this helps
  • LondinaLondina Experienced Mentor Posts: 814MAAT, AAT Licensed Accountant
    sdv wrote: »
    External Auditing (Old Unitn17)

    Hope this helps

    why studing External Auditing when AAT qualified cannot do audit....?
  • stevefstevef Well-Known CarmarthenPosts: 258Registered
    AAT members can work for a registered auditor and carry out actual assignments. However, AAT members can not sign the audit opinion. So an AAT member can carry out audit work under the guidance of a registered auditor and present the working papers to the registered auditor. The registered auditor then quality checks the work, forms an opinion and issues the report.
  • LondinaLondina Experienced Mentor Posts: 814MAAT, AAT Licensed Accountant
    stevef wrote: »
    So an AAT member can carry out audit work under the guidance of a registered auditor and present the working papers to the registered auditor. The registered auditor then quality checks the work, forms an opinion and issues the report.

    basically the AAT member does the whole work but the registered auditor gets all the credits by sign it at the end... ;-)
  • stevefstevef Well-Known CarmarthenPosts: 258Registered
    No, the audit team gather evidence under the direction of the registered auditor. The registered auditor has to quality check the mountain of evidence collected, form an opinion and place his/her professional reputation on the line (not to mention potential legal challenges if you get it wrong) by publishing that opinion. The team members might do much of the leg work but it is the registered auditor that considers the evidence, forms the opinion and takes the risk of any later action if the opinion is incorrect..
  • BluewednesdayBluewednesday Font Of All Knowledge Posts: 1,624Registered
    Londina wrote: »
    basically the AAT member does the whole work but the registered auditor gets all the credits by sign it at the end... ;-)

    Because the registered auditor has done the exams and the work experience and also the registered auditor is the one where the buck stops!!!
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