Date posted: 15/12/2017 3 min read

Entry to Associate Chartered Accountant (ACA) college to close

Entry to the ACA college closes on 30 June 2018.

In brief

  • Entry to the ACA college closes on 30 June 2018
  • There will be transitional arrangements for current provisional ACA members and ACA students to allow them time to complete the entry requirements
  • Pathways from ACA to the CA designation will be available for current ACAs
  • Current ACA members will be able to continue to hold their designation if they wish to do so

The Chartered Accountants Australia and New Zealand Board has approved closing entry to the ACA college, taking effect from 1 July 2018.

It confirmed that current ACA members will be able to remain members of the ACA College. 

The Board also approved arrangements for affected groups, including Provisional ACA members and students studying towards ACA.

As the result of member feedback, the introduction of a new pathway to CA, based on qualifications and work experience aligned with CA competencies, is being considered. This will allow ACAs to transition to the CA designation.

The Board will consider a detailed proposal on this pathway, and other transition arrangements, early in 2018. 

All current ACA members, Provisional ACA members and students studying towards ACA will be contacted in the New Year with formal notification of the closure of entry to ACA and details regarding timeframes and transitional arrangements. 

Current ACA members

The ACA college is remaining open for current members. ACAs can retain their designation and remain an ACA. The ACA college is being closed to new entrants from 30 June 2018.

Members who would like to move from ACA to CA need to complete an existing pathway. Under consideration is a new pathway to CA, based on qualifications and work experience aligned with CA competencies.

Future ACA members

Transitional arrangements will be available for provisional ACA members and students currently studying towards ACA. 

Provisional ACA members at 30 June 2018 will have until 30 June 2020 to complete the ACA practical experience requirements to become an ACA. Alternatively they can complete the requirements for CA membership.

Students currently completing academic study towards ACA membership will have until 30 June 2020 to complete their academic study and become a provisional ACA member. They will then have until 30 June 2022 to complete their practical experience requirements. There is also the option to change the course to CA or AT.

All current ACA members, Provisional ACA members and students studying towards ACA will be contacted in the New Year with formal notification of the closure of entry to ACA and details regarding timeframes and transitional arrangements. 

The feedback

Between 9 October and 3 November 2017 CA ANZ consulted with the groups most affected by the CA ANZ Board proposal to close the ACA college. These groups included: ACA members, provisional ACAs, ACA students, full AT members, ACA mentors, employers and tertiary institutions.

The proposal was in response to falling demand for the ACA designation and to address professional and public confusion about the distinction between CAs and ACAs.

The Board recognises that the ACA designation has been subject to change and uncertainty over the years, a situation that needs to be resolved. 

More than 300 responses to the call for feedback were received. The most common themes were (in order of frequency raised, high to low):

  • A personal transfer or membership query
  • Agreement in principle with the proposal
  • View that there is a need for, and value in, having an intermediate designation between CA and AT
  • Request for an experience pathway to CA for ACAs who have significant work experience
  • Disagreement with the proposal
  • Acknowledgement that brand confusion exists
  • Indication from current ACA members that they would be happy to remain as ACA and not transfer to CA
  • View that the proposal will denigrate the value of ACA
  • Request that the ACA College remains open long term
  • Current ACA members indicating they would be happy to transfer ACA to CA
  • Request to consider changing the name of ACA
  • Query about variation in requirements to transfer from ACA to CA for different groups of members.

 

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