In the global arena of professional accountancy, the Association of Chartered Certified Accountants (ACCA) stands out as a renowned organization. With its commitment to excellence and an expansive network across the globe, ACCA has become a gateway to a promising career in finance and accountancy. One of the noteworthy features of ACCA’s qualification process is the title of ‘ACCA Affiliate’. In this article, we will delve into the nuances of ACCA affiliates, its importance, and the pathway to achieving this status.
What are ACCA Affiliates?
An ACCA affiliate is an individual who has successfully completed all 13 exams of the ACCA qualification but has not yet fulfilled the practical experience requirements (PER) or the Ethics and Professional Skills Module (EPSM) to become an ACCA member.
Importance of ACCA Affiliates:
- Recognition of Academic Achievement: Earning the ACCA affiliate status signals that the individual has mastered the academic component of the ACCA qualification, which covers a broad spectrum of accountancy and finance-related topics.
- Enhanced Career Opportunities: Being an ACCA affiliate can act as a notable credential on a CV. Many employers globally recognize the rigor of ACCA exams and value the knowledge affiliates bring.
- Gateway to ACCA Membership: ACCA affiliate status is an intermediate step towards becoming an ACCA member. Once the additional requirements are fulfilled, affiliates can apply for full membership.
Pathway to Becoming an ACCA Affiliate:
- Eligibility: Before attempting ACCA exams, ensure you meet the minimum entry requirements. Usually, a blend of secondary education achievements or a relevant degree can serve as a foundation.
- Exams: The ACCA Qualification is divided into three levels: Applied Knowledge, Applied Skills, and Strategic Professional. Completing all exams in these levels (13 in total) is essential.
- Ethics and Professional Skills Module (EPSM): While the EPSM is not compulsory for achieving affiliate status, it is crucial for the subsequent ACCA membership. It’s recommended that students complete this module before attempting the Strategic Professional exams.
From Affiliate to Member:
After achieving ACCA affiliate status, the journey doesn’t end. To become a full-fledged ACCA member:
- Practical Experience Requirement (PER): Accumulate 36 months of relevant work experience. This experience should cover specific performance objectives that relate to the knowledge gained during the ACCA exams.
- Complete the EPSM: If not completed earlier, ensure this module is done before applying for membership.
- Application: Once the PER and EPSM requirements are satisfied, apply for ACCA membership. Once approved, you can use the prestigious ‘ACCA’ designation after your name.
Conclusion:
Being an ACCA affiliate is both an achievement and a stepping stone. As the global finance landscape continually evolves, affiliations like ACCA’s provide professionals a robust platform to launch and elevate their careers. Whether you are an aspiring accountant or a business seeking expertise, understanding the significance of ACCA affiliates can pave the way for informed decisions in the world of finance and accountancy.
