Wiki on AAT "Individuals with such qualifications are not recognised as professionally qualified"

Londina

I just read this on Wikipedia about AAT accountants and I'm find it so insulting and undermining!

Bookkeepers and accounting technicians
"Various bodies offer lower-level qualifications in bookkeeping and related skills. Individuals with such qualifications are not recognised as professionally qualified accountants.
The Association of Accounting Technicians (AAT) (designatory letters MAAT or FMAAT, standing for "Member of the Association of Accounting Technicians" or "Fellow Member of the Association of Accounting Technicians", respectively) is the UK’s leading body offering a qualification at a level between that of 'bookkeeper' and that of the Recognised Qualifying Bodies. After passing exams and obtaining relevant experience, its members can apply for MIP (Member in Practice) status and are then licensed and regulated by the AAT to provide practice accounting, tax and financial advisory services, although they are not entitled to undertake audit or insolvency work. As in the case of members of the RQBs, AAT MIPs are required to hold adequate insurances and undertake regular CPD activities relevant to the services they offer.
Practising accounting technicians are entitled to refer to themselves as 'accountants', as the term is not protected in law (unlike, say, 'solicitors' and 'doctors'). They cannot, however, present themselves as being of chartered status"

BeccaLouJ9

I don't think it is right when it says.. 'Individuals with such qualifications are not recognised as professionally qualified accountants.' I think it should read that MAATs are not recognised as chartered accountants- because they aren't!

Although the rest is factually correct.

You can always amend it?

B

Londina

BeccaLouJ9 said:

I think it should read that MAATs are not recognised as chartered accountants- because they aren't!

B

Exactly! we are not chartered, but we are definitely accountants! I don't think we should considered as "between that of 'bookkeeper' and that of the Recognised Qualifying Bodies" (is the AAT not a recognised body?!).

Also this bit make us sounding we are pretending to be accountants:
Practising accounting technicians are entitled to refer to themselves as 'accountants', as the term is not protected in law (unlike, say, 'solicitors' and 'doctors').

I'm surprised the AAT has not picked this up and make the changes

BeccaLouJ9

Well, I don't think in the grand scheme of things it really matters.

We know what we are and what we do, and clients aren't usually that bothered that they Wiki our letters!

B

Londina

BeccaLouJ9 said:

clients aren't usually that bothered that they Wiki our letters!

B

some people do...I was having a discussion online with someone and he told me that AAT are not proper accountants, based on what he read on Wikipedia. We know what we are but we need to ensure that others understand it too :-)

phoenixd

Unless I am mistaken, AAT is NOT a recognised qualifying body (RQB). It is also not a recognised supervisory body (RSB). Have a look at the relevant page on the Financial Reporting Council's website: https://www.frc.org.uk/Our-Work/Conduct/Professional-oversight/Oversight-of-Audit/Recognition-of-Recognised-Supervisory-Bodies-and-R/Current-RSBs-and-RQBs.aspx that provides a list of the recognised bodies in the UK.

Additionally, see note 1.2 on an AAT's response that categorically confirms a non-RQB and a non-RSB status: https://www.aat.org.uk/sites/default/files/assets/Guidelines-on-Enforcement-measures-against-recognised-supervisory-bodies-and-recognised-qualifying-bodies.pdf

Returning to Wiki, entries can be added, removed and amended by registered members of the public. Consequently, you don't have to wait for the AAT to do it... however, there is no need, in my view, to edit what is currently there as it is technically correct.

burg

I don't necessarily agree with its content 100% but it is pretty accurate. AAT qualification alone is not enough to be an accountant in practice you do need practice experience in both accounts production and tax dealing with the right type of clients that will become your target.

I think something along the lines of ATT will complement AAT nicely (I've yet to find time to finish it).

In my time running a practice (8 years) I've only twice had someone ask about AAT and only once have they decided not to appoint us (may or may not have been because of AAT). The main concern of the public is can you do the work required, do you act for others in their industry, do you provide good customer service, what are your fees and can you save them tax. Qualifications rarely comes into it.

I do a fair bit to promote AAT. I recommend it to family and friends who are looking to study accountancy and we offer AAT apprenticeships to our own staff. It gives a good grounding and along with the practical experience we give them of a mixed role in a general practice they learn some brilliant skills they can utilise here and/or take with them elsewhere.

Londina

mrme89 said:

I have found another Wiki article that may be of interest to you:
https://en.wikipedia.org/wiki/Thick_skin

Thick skin can refer to:
The ability to withstand criticism.

LOL such a unprofessional comment, totally missing the point...this is not Facebook where you can throw petty remarks to people

Londina

burg said:

I don't necessarily agree with its content 100% but it is pretty accurate. AAT qualification alone is not enough to be an accountant in practice you do need practice experience in both accounts production and tax dealing with the right type of clients that will become your target.

oh yeah Burg that's for sure, it's not ideal to set up your own practice if you only worked in industry, you definitely need the experience and a piece of paper (AAT or any other accounting qualification) won't give you that

burg said:

I do a fair bit to promote AAT. I recommend it to family and friends who are looking to study accountancy and we offer AAT apprenticeships to our own staff. It gives a good grounding and along with the practical experience we give them of a mixed role in a general practice they learn some brilliant skills they can utilise here and/or take with them elsewhere.

Same here, always recommending AAT and my post was about the same question people has been discussed for years...Are AAT accountants? We do now require a "Licenced Accountant" licence from the AAT if we need to provide our services, so I do consider AAT accountants, althouth Wiki give a slighly different view ;-)

Neillaw

For me the seems to have been written by a chartered, as everyone has mentioned it's content isn't wrong it just seems to me to be written by a snob!

The problem I currently have and it comes to light within the forums more often than before is the amount of trainee's looking to become MIP's as soon as the AAT pass certificate is through the door. As with FMAAT I would like to see some kind of time frame before they can considered for MIP status.

The other bit which I've recently had to deal with are people without qualifications making a complete hash of work and charging the earth to do it. I recently picked up a client who was in the process off an investigation, after a few minutes looking at the paperwork it came to light that turnover was £17k short (The guy's on CIS so HMRC know exactly what he's been paid.) Charged him £500 for the work which was crap.

These are the people who need to be weeded out of our profession!

The bit I do agree with is that accountants should be the same as a solicitor or barrister and require a recognised qualification to be called an accountant. If the AAT isn't going to be included within this then we should be promoted as accounting technicians, we would need to give people a better understanding of our qualification.

Blue Monday - Where's my New Order CD

mrme89v2

> @Neillaw said:

> These are the people who need to be weeded out of our profession!
>

I'm not sure it's possible.

They'd have to regulate certain parts of the work. It's doable for limited companies, but what about 'self' assessment?

I'd be happy if they could regulate all work, because it would push fees up!