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ACCA Exemptions for CIPFA Papers

Hi, I started studying Acca in 2017 and than took a break from study due to work pressure. Under my current role in public sector my employer sponsored me to study CIPFA ( chartered institute of public finance accountancy) in 2021.

I completed four Papers but I am looking to change job and will be self sponsoring, therefore I enquired with ACCA if the following papers I did under CIPFA qualify for exemptions under skill stage but unfortunately they said no without giving proper reason, I emailed again but same no response although majority of the syllabus matches.

Financial Reporting
Audit Assurance
Corporate and Governance Law

Now I am confused whether I should continue studying CIPFA (6 papers left) or go for ACCA (8 papers left).
Either way I will be self funding.
I just don’t know which direction to take, although I am more attractive to doing ACCA but I will have 8 exams to sit under ACCA due to exemptions will not be available also CIPFA feels like waste if it’s not even recognised by ACCA.

Any advice or suggestions?
Thanks
(edited 1 year ago)
Original post by RubyJ_09
Hi, I started studying Acca in 2017 and than took a break from study due to work pressure. Under my current role in public sector my employer sponsored me to study CIPFA ( chartered institute of public finance accountancy) in 2021.

I completed four Papers but I am looking to change job and will be self sponsoring, therefore I enquired with ACCA if the following papers I did under CIPFA qualify for exemptions under skill stage but unfortunately they said no without giving proper reason, I emailed again but same no response although majority of the syllabus matches.

Financial Reporting
Audit Assurance
Corporate and Governance Law

Now I am confused whether I should continue studying CIPFA (6 papers left) or go for ACCA (8 papers left).
Either way I will be self funding.
I just don’t know which direction to take, although I am more attractive to doing ACCA but I will have 8 exams to sit under ACCA due to exemptions will not be available also CIPFA feels like waste if it’s not even recognised by ACCA.

Any advice or suggestions?
Thanks


You usually won't get any exemptions from your current accounting qualification without completing it first, as far as I know. If you want to complete the CIPFA, you would get 9 exemptions from the ACCA papersand be left with the remainign 4 professional papers.
See the following page for the exemptions calculator: https://portal.accaglobal.com/accrweb/faces/page/public/accreditations/enquiry/main/EnqProgrammesTable.jspx?_afPfm=-eh1r49pqa (I can't find a list that's more up to date than 2018, but it shouldn't vary that much)
Namely the modules you should get exemptions for should be:

Business and Technology (BT)

Management Accounting (MA)

Financial Accounting (FA)

Corporate and Business Law (LW)

Performance Management (PM)

Taxation (TX)

Financial Reporting (FR)

Audit and Assurance (AA)

Financial Management (FM)


If you have partly completed the CIPFA, you would get the following:

Business and Technology (BT) on the basis of STRATEGIC LEADERSHIP (SL) / STRATEGIC PUBLIC LEADERSHIP (SPF) PLUS BUSINESS MANAGEMENT (BM) / BUSINESS CHANGE MANAGEMENT (BCM)

Management Accounting (MA) on the basis of MANAGEMENT ACCOUNTING (MA)

Financial Accounting (FA) on the basis of FINANCIAL ACCOUNTING (FA)

Performance Management (PM) on the basis of MANAGEMENT ACCOUNTING (MA) PLUS PUBLIC SECTOR FINANCIAL REPORTING (PSFR)

Financial Reporting (FR) on the basis of FINANCIAL REPORTING (FR) / COMPANY FINANCIAL REPORTING (FINANCIAL REPORTING)

Audit and Assurance (AA) on the basis of AUDIT AND ASSURANCE (AA)

Financial Management (FM) on the basis of FINANCIAL MANAGEMENT (FM)

...which is still a large chunk, even without the tax paper.

In either case you would still need to complete at least 4 papers. I don't know how much it's worth to you to finish off the CIPFA to be exempt on 2 more papers on the ACCA and get 2 accounting qualifications instead of just one.
Original post by RubyJ_09
Hi, I started studying Acca in 2017 and than took a break from study due to work pressure. Under my current role in public sector my employer sponsored me to study CIPFA ( chartered institute of public finance accountancy) in 2021.

I completed four Papers but I am looking to change job and will be self sponsoring, therefore I enquired with ACCA if the following papers I did under CIPFA qualify for exemptions under skill stage but unfortunately they said no without giving proper reason, I emailed again but same no response although majority of the syllabus matches.

Financial Reporting
Audit Assurance
Corporate and Governance Law

Now I am confused whether I should continue studying CIPFA (6 papers left) or go for ACCA (8 papers left).
Either way I will be self funding.
I just don’t know which direction to take, although I am more attractive to doing ACCA but I will have 8 exams to sit under ACCA due to exemptions will not be available also CIPFA feels like waste if it’s not even recognised by ACCA.

Any advice or suggestions?
Thanks


You've been given bad information. CFR will give you exemption from FR and AA will give you exemption from AA. No exemption for law though I'm afraid.

To be honest I don't think chopping and changing accountancy qualifications is a very good idea. You'll probably be better off finishing CIPFA and then joining CIMA through mutual recognition.
Are you planning to leave for another public sector job? I think that makes a huge difference.
Reply 4
Original post by AW_1983
You've been given bad information. CFR will give you exemption from FR and AA will give you exemption from AA. No exemption for law though I'm afraid.

To be honest I don't think chopping and changing accountancy qualifications is a very good idea. You'll probably be better off finishing CIPFA and then joining CIMA through mutual recognition.

Thanks all for your responses, that’s a great help.

I will email again for them to review there decision as same person from ACCA exemption team has responded back twice with unhelpful response.

Yes I am leaving for another job in public sector. My future aim is one day to be self employed or maybe work in private sector like amazon or google if I get lucky :smile:

About 90%) of my jobs have been in public sector and mainly local governments. Working in public sector is getting tough year on year, funding cuts and job cuts, also public sector accounts are not straight forward due to government grants, private funding initiatives etc, basically i prefer to switch into private sector if I get an opportunity.

Sounds great to finish both but I don’t have the money, time and energy. Also CIPFA papers are expensive with limited access to resources.

As for ACCA you can find pre recorded lectures etc on internet for free so you don’t have to spend a lot unlike CIPFA.
Reply 5
Original post by AW_1983
You've been given bad information. CFR will give you exemption from FR and AA will give you exemption from AA. No exemption for law though I'm afraid.

To be honest I don't think chopping and changing accountancy qualifications is a very good idea. You'll probably be better off finishing CIPFA and then joining CIMA through mutual recognition.


I received following response from ACCA, basically looks like they stopped giving exemptions to part qualified, from what i can understand.


“I regret to advise that you are not eligible for the exemptions from LW, FR and AA. The accreditation of the modules you passed ended in 2018 you completed all of the required modules in 2020-2021 respectively. Therefore no exemptions can be awarded regarding your CIPFA qualification”.

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