AAT to ACA as a MIP
Gillian
Registered Posts: 17 Dedicated contributor 🦉
Hi
I have done a search on the forums but it returns nothing (which is a bit odd as I know there are posts on here about ACA and ICAEW): my search even typing in ACA or ATT returns nothing.
but anyway back to topic.
I have done some reading on the forums about this, and I understand that there is an AAT to ACA fast track which requires you to work and sign up with an ICAEW training provider.
However can you study for ACA whilst in practice (I know you cannot with ACCA).
Can the time in practice count towards your required 450 days of on the job training - or do you need to have specific time at practicing the various elements.
I have my own practice so I dont want to go and work for someone else but was looking at the possibility of extending my AAT.
I have done a search on the forums but it returns nothing (which is a bit odd as I know there are posts on here about ACA and ICAEW): my search even typing in ACA or ATT returns nothing.
but anyway back to topic.
I have done some reading on the forums about this, and I understand that there is an AAT to ACA fast track which requires you to work and sign up with an ICAEW training provider.
However can you study for ACA whilst in practice (I know you cannot with ACCA).
Can the time in practice count towards your required 450 days of on the job training - or do you need to have specific time at practicing the various elements.
I have my own practice so I dont want to go and work for someone else but was looking at the possibility of extending my AAT.
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Comments
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I'm not 100% sure on this, but I think you needed a training contract for ACA, while for ACCA you could just submit work experience and based on that, I don't think you can use your own time in practice.
However, if I were you, I would email/ call ACA and see what they tell you!0 -
To fully qualify as ACA you need a training contract.
ICAEW have become more flexible about who can offer training contracts. To cut a relatively long story short you have to be with an employer who will agree to train you over a period of at least 2 - 3 years and follow the training guidelines required by ICAEW ( there are 6 monthly review requirements that you must demonstrate practical comptetence in certain area, mainly geared toward soft skills, ethics, commercial awareness and so on)
In your training contract period you must work under the supervision of a chartered accountant who will be responsible for verifying your professional development and signing of that you have met the standards required. Interestingly that needn't necessarily be ACA - could be ACCA or if you work in industry CIMA.
As Rinske has already said, work in your own practice won't count, as you need to demontrate you have undertaken a training period supervised and approved by a chartered accountant.0 -
work in your own practice won't count, as you need to demontrate you have undertaken a training period supervised and approved by a chartered accountant.
You can be an MiP as well though. Provide you have express permission from your Qualified Person Responsible for Training (QPRT).
Regards
Dean0
