new standards

jkc

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

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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

jkc

yey

thats a big worry gone thanks for that info
chelle

Criggers

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.

Criggers

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.

sdv

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

Londina

sdv wrote: »

External Auditing (Old Unitn17)

Hope this helps

why studing External Auditing when AAT qualified cannot do audit....?

stevef

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.

Londina

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... ;-)

stevef

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..

Bluewednesday

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!!!