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Exemptions after ICB
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Fri 20 Apr 2012 12:19 PM
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dobutler
No Membership
1 post
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Hi,
I am very new to the site, and the world of finance qualifications.
Many moons ago (2002), i completed the intermediate stage of AAT. I have worked in Finance for over 10 years and currently work as a senior Finance Manager in a Government Department.
However, i was looking at setting up a Bookkeeping business (part time).
The ICB looks as though it gives me everything i need in terms of study, however, i do have a few questions.
Will my AAT qualifications, or experience give me any exemptions?
What is a practise licence, and do i need one when setting up a business? Could i not freelance?
Does the ICB qualification exempt me from any further exams such as ACCA, CIMA etc??
Thanks,
David
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Fri 20 Apr 2012 12:49 PM
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KerryB
Member CB.Dip PM.Dip
268 posts
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Hi David
Welcome to the forum!
I will try to answer some of your questions.
Unfortunately you will not get exemptions against your AAT qualification as it was not completed in the last two years. However, your experience could well get you some exemptions; you will need to contact the ICB directly regarding this (I think you need two references from Chartered Accountants, but not 100% certain).
The Practice Licence covers you for Money Laundering regulations and gives you access to different parts of the forum, amongst other benefits. Even if you was to go 'Freelance' you would still need covering for Money Laundering Regs (by law), which can be done through HMRC, however, I believe the Practice Licence is cheaper with the added benefit of being covered by a Bookkeeping Institution (always looks better to be accredited, in my opinion anyway!).
Up to and including Level 3 qualifications will not, at present, give you any exemptions for the actual ACCA qualifications, but will give you an exemption for a lower ACCA FIA paper, but will get more with your AAT anyway. This may change.
Hope this helps
Best regards
Kerry
Edited at 20 Apr 2012 12:50 PM GMT
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www.berrybookkeeping.co.uk
My responses are based on my opinions, not necessarily facts.
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Sun 22 Apr 2012 03:03 PM
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Kara
Member CB.Dip
Practice Licence
67 posts
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I phoned the ACCA the other day to see if my level 3 manual qualification will grant me any exemptions and i was told no becuase they were taken after 2010 x
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Kara 
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