Depending upon qualifications and practical experience an applicant may be eligible for admission and registration either as an Affiliate Accountant, a Provisional Member or a Chartered Accountant. The specific qualifications and practical experience required for each category of membership are set out in the following paragraphs.
AFFILIATE ACCOUNTANTS
An applicant who wishes to be registered as an Affiliate Accountant must have graduated with either a recognised Diploma or a recognised Degree with sufficient academic units that would satisfy the essential elements of the recognised Diplomas.
The recognised Diplomas (pre 2011 Diplomas marked with an asterisk) are as follows:
University of the South Pacific Diploma in Accounting Studies; or
University of Fiji Diploma in Accounting; or
Fiji National University 2011 revised Diploma in Accounting; or
Fiji National University Advanced Diploma in Accounting*; or
Fiji Institute of Technology Diploma in Business Studies (Accounting)*; or
TAFE Advanced Diploma in Accounting, Western Sydney Institute offered through the National Training Productivity Centre of the Fiji National University
The recognised Degrees are listed under the requirements for Provisional Members.
Affiliate Accountants are not required to have gained any practical experience.
Applicants who have completed a recognised Degree but who have not completed all the 20 prescribed undergraduate academic units to qualify as a Provisional Member may also qualify for admission as Affiliate Accountants provided they have completed sufficient of the prescribed academic units substantially to qualify for a recognised Diploma.
PROVISIONAL MEMBERS
Any applicant who wishes to be registered as a Provisional Member must have graduated with a recognised Degree and have completed at least the 20 academic units required by the Fiji Institute of Accountants.
The recognised Degrees are as follows:
University of the South Pacific Bachelor of Commerce in Accounting; or
University of Fiji Bachelor of Commerce (Accounting); or
Fiji National University Bachelor of Commerce (Accounting); or
Fiji National University Bachelor in Accounting
The Fiji Institute of Accountants does not directly recognise any academic qualifications gained at overseas (non Fiji) technical colleges or universities. Applicants with any such overseas academic qualifications will need to have their official transcripts assessed by the University of the South Pacific for comparability. The Institute will facilitate this assessment provided the applicant makes available the originally certified transcript and certificate.
The academic units that applicants for admission as a Provisional Member will need to have completed are as follows:
University of the South Pacific [UOF in square brackets] (FNU in round brackets)
Introduction to AFM Part I AF 101 [ACC 101] (ACC 501)
Introduction to AFM Part II AF 102 [ACC 102] (ACC 502)
Introduction to Law of Commerce AF 108 [ACC 103] (LAW 501)
Introduction to Accounting
Information Systems CS121/AF121
or [ACC110]
or (CIN 506)
Computing Fundamentals CS100/IS100 [ITC 101/CSA 101]
Macroeconomics EC 101
or [ECO 101]
or (ECN 501)
or
Microeconomics EC 102 [ECO 102] (ECN 502)
Financial Mathematics (previously FM 101 (MTH 507)
Mathematics for Social Sciences MA 101
or [MTH 101]
Calculus I and Linear Algebra I MA 111
Plus any two other 100-level units
Managerial Accounting AF 201 [ACC 201] (ACC 602)
Law of Association AF 205 [ACC 205] (LAW 603)
Financial Management AF 208 [ACC 208] (FIN 601)
Financial Accounting AF 203/AF 210 [ACC 203] (ACC 601)
Plus any two other 200-level units
Accounting Theory and Application AF 301 [ACC 301] (ACC 706)
Information Systems AF 302 [ACC 302] (CIN 708)
Auditing AF 304 [ACC 304] (ACC 701)
Taxation Law AF 308 [ACC 308] (LAW 601)
Plus any two other 300-level units
Provisional Members are not required to have gained any practical experience.
CHARTERED ACCOUNTANTS
An applicant who wishes to be registered as a Chartered Accountant must have graduated with a recognised degree and have completed at least the 20 academic units required by the Fiji Institute of Accountants (i.e. the same undergraduate academic qualifications that are required for a Provisional member) but he is also required to complete a minimum of three years of practical experience and also to complete either the four “core units” out of the USP’s/FNU’s/UOF’s Postgraduate Diploma in Professional Accounting or the CPA Programme.
PRACTICAL EXPERIENCE
Applicants for Chartered Accountant membership are required to complete a total of at least 3 years of acceptable practical experience. One of those years may be completed before the completion of the 20 required undergraduate academic units but the other two have to be completed after completing the last of the 20 required academic units and must be completed under the supervision of an eligible mentor.
MENTORED PRACTICAL EXPERIENCE
Applicants for mentored practical experience will be required to enter into an agreement with an “eligible mentor” (any registered Chartered Accountant with at least 4 years of practical experience after being admitted as a Chartered Accountant) to supervise the next two years’ practical experience of the applicant. During those two years the applicant will be required to demonstrate to the mentor that he has gained experience in at least three of the following six areas of practical experience (with in-depth experience in one):
Auditing
External Reporting
Insolvency and Reconstruction
Management Accounting
Taxation
Treasury
PRACTICAL EXPERIENCE FOR ACADEMICS
Applicants in academia are required to hold a Doctorate or Masters degree majoring in Accounting or in an allied subject and to have held a position of lecturer or a more senior position at an accredited tertiary institute teaching undergraduate or postgraduate courses required to be completed by applicants seeking admission to the Institute as a Chartered Accountant for at least five years. Applicants will have taught a range of courses including at least 3 out of the 6 categories of practical experience required for non academic applicants, certified by a senior academic.
POST GRADUATE REQUIREMENTS
Applicants for Chartered Accountant membership are also required to complete four “core units” out of the USP’s/FNU’s/UOF’s Postgraduate Diploma in Professional Accounting.
Alternatively applicants may now enrol for four out of the following 10 accredited post graduate units offered by the University of the South Pacific under its Post Graduate Diploma in Professional Accounting with the one marked in bold being compulsory:
USP Post Graduate Diploma
AF 420 Financial Statement Analysis
AF 431 Advanced Management Accounting
AF 432 Information Systems Control Audit
AF 433 Advanced Financial Accounting
AF 401 Forensic Accounting and Practice
AF 405 Fraud Accounting and Investigation
AF 436 Accounting for Management Control
AF 437 Issues of Governance and Ethics in Accounting
AF 439 Advanced Taxation Contemporary Issues
AF 440 Advanced Taxation Structures
[AF 437 and
one out of AF 420, AF 431, AF 432 and AF 433 are compulsory, plus two other of the listed units as electives]
FNU Post graduate Diploma
ACC 811 Entrepreneurship, Ethics and Governance
ACC 801 Taxation of Business Enterprises
ACC 802 Developments in Auditing and Assurance Services
ACC 803 Advanced Financial Reporting
ACC 804 Developments in Management Accounting
ACC 807 Forensic Accounting – Conduct and Procedures
ACC 808 Forensic and Litigation Services
ACC 809 Fraud Examination and Investigative Techniques
FIN 807 Financial Statement Analysis
FIN 808 Advanced Corporate Finance
TAX 801 Taxation of Business Enterprises
[ACC 811 and
one out of ACC 802, ACC 803, ACC 804 and FIN 807 are compulsory plus two others of the listed units as electives]
UOF Post Graduate Diploma
Core Courses:
ACC 402 Ethics, Governance & Accountability
ACC 403 Advanced Financial Reporting
ELECTIVES: (Two courses from the following)
ACC 401 Advanced Accounting Theory
ACC 404 Advanced Management Accounting
ACC 405 Advanced Auditing and Assurance Services
ACC 406 Financial Statement Analysis
ACC 407 Business Research Methods
ACC 408 Advanced Taxation, Law & Practice
CROSS-CREDIT ADMISSION
The Fiji Institute of Accountants “recognises” the following 8 overseas accounting bodies and may consider admitting people to FIA membership who are current members in good standing of those accounting bodies. However such admissions will only be to membership at the equivalent level to the membership held in the overseas accounting body and will be dependent in most cases, on evidence that the applicant has made plans to reside and work in Fiji or the neighbouring Pacific Islands.
The Certified Practising Accountants of Australia
The Institute of Chartered Accountants of India
The Hong Kong Institute of Certified Public Accountants
The Institute of Chartered Accountants in Ireland
The Chartered Accountants of Australia and New Zealand
The Institute of Chartered Accountants of Scotland
The Institute of Chartered Accountants in England and Wales
The Institute of Chartered Accountants of Sri Lanka