Are you confused about the Requirements for Admission to FIA Membership?
If so, Read on.
1. Firstly, it is important to realise that there are three elements to the requirements:
(a) Diploma or Degree academic qualifications;
(b) Practical experience,including mentoring; and
(c) Post graduate qualifications
[Neither (b) or (c) apply to those seeking admission as provisional members or as affiliate accountants.]
2. Secondly, there are provisions for admitting persons who are members of other overseas recognised accounting bodies, at an equivalent level, but this is dealt with at the end of this article.
3. Thirdly, the Fiji Institute does not directly recognise academic qualifications gained at overseas technical colleges or universities. People with such qualifications (other than those mentioned in this article) will need to get their qualifications assessed by authorities at the University of the South Pacific.
Academic Qualifications
4. For admission as an affiliate accountant, the basic academic qualification is a diploma, but only the following diplomas are currently recognised by the Institute: (pre 2011 Diplomas marked with an asterisk)
USP Diploma in Accounting Studies
UOF Diploma in Accounting
FNU 2011 revised Diploma in Accounting
FNU Advanced Diploma in Accounting
*
FIT Diploma in Business Studies (Accounting)
*
[TAFE Advanced Diploma in Accounting, Western Sydney Institute offered through the National Training and Productivity Centre of the Fiji National University and
TAFE Advanced Diploma of Business Accounting, Box Hill Institute
* offered through the New Zealand Pacific Training Centre (NZPTC) have been removed from the list effective December 2013]
5. Applicants who have graduated with a Bachelor of Arts Degree in Accounting, a Bachelor of Commerce Degree at the USP, FNU or the UOF with sufficient academic units to satisfy the Diploma programme but not enough to satisfy the 20 unit requirement, may also be admitted as affiliate accountants.
6. Those seeking admission as provisional members or chartered accountants will need to satisfy the 20 academic units requirement- those units being offered at the USP, FNU or UOF, or assessed as equivalent to the USP/FNU/UOF units.
7. The set of 20 academic units is as follows:
100 Level USP UOF FNU
AF101 ACC 101 ACC 501
AF102 ACC 102 ACC 502
AF108/SE 108 ACC 103 LAW 501
EC 101 or EC 102 ECO 102 ECN 501 or ECN 502
AF121 ACC110 CIN 506
FM101 MTH 101 MTH 507
[AF121 units done previously at USP would be IS121 or IS100 / CS121 or CS100]
[FM 101 units done previously at USP would be MA101 or MA100]
ACC 110 units done previously at UOF would be ITC100/ITC101 or CSA 101]
Plus 2 electives at 100 Level
200 Level
AF201 ACC 201 ACC 602
AF205 ACC 205 LAW 603
AF208 ACC 208 FIN 601
AF210 ACC 203 ACC 601
Plus 2 electives at 200 Level
300 Level
AF 301 ACC301 ACC 706
AF302 ACC302 CIN 708
AF 304 ACC 304 ACC 701
AF308 ACC 308 LAW 601
Plus 2 electives at 300 level
8. Applicants who have completed academic courses other than at the USP, FNU or UOF should seek the accreditation of those courses by the USP.
Practical Experience
9. Practical experience is not a requirement for those who may be seeking admission as either provisional members or affiliate accountants.
10. Applicants for admission as chartered accountants will need to show that they have at least three years of practical experience under supervision, but one of those three years could have been gained by experience achieved before completing the 20 academic unit requirement. At least two years of practical experience needs to be gained after completing all the 20 academic units, and those two years will have to be completed under the supervision and guidance of a mentor. Applicants will need to enter into an agreement with an approved mentor, both to supervise and assess their practical experience. [Approved mentors are full chartered accountant members with at least two years practical experience gained after being admitted as chartered accountants.]
11. Secondly, practical experience will need to cover experience gained in at least 3 out of the following 6 specific areas of experience, with in – depth experience in at least one of the three:
Auditing;
External Reporting;
Insolvency and Reconstructions;
Management Accounting;
Taxation; and
Treasury
12. Practical experience can be gained while completing the post graduate qualification (ie at the same time). [See the following paragraphs on post graduate qualifications]
13. Mentoring only became compulsory from 1
st January 2007, so those persons who had completed 3 years practical experience (after completing their 20 academic units) before that date will not be required to complete an additional two years of mentored practical experience.
Post Graduate Qualifications
14. It is a requirement for all those qualifying under the current admission requirement that they need to complete certain post graduate academic courses.
15. Those who have already undertaken any of the three”(core units)” of the CPA programme run by CPA Australia prior to 31
st December 2009, as listed below were given the opportunity (during 2010 only) to complete the remaining unit(s) and this would be able to qualify as the post graduate requirement.
1. Reporting and Professional Practice
2. Corporate Governance and Accountability
3. Business Strategy and leadership
16. For those who have not undertaken any of the CPA programme “core units” prior to 31
stDecember 2009, the post graduate requirement will be to complete either the revised four core units of the CPA Programme, listed below or four of the accredited units of the Post graduate Diploma of Professional Accounting offered by the University of the South Pacific or the Post Graduate Diploma in Accounting offered by the Fiji National University (also listed below):
CPA Programme (all units Compulsory)
- Ethics and Governance
- Financial Reporting·
- Global Strategy and Leadership
- Strategic Management Accounting
USP Post Graduate Diploma
- AF420 Financial Statement Analysis
- AF431 Advanced Management Accounting
- AF432 Information Systems Control and Audit
- AF433 Advanced Financial Accounting
- AF401 Forensic Accounting and Practice
- AF 405 Fraud Accounting and Investigation
- AF 436 Accounting for Management Control
- AF437 Issues of Governance and Ethics in Accounting
- AF439 Advanced Taxation Contemporary Issues
- AF440 Advanced Taxation Standards
[AF 437 and one out of AF 420, AF 431, AF 432 and AF 433 are compulsory, plus two others 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
Based upon an analysis of their membership of IFAC and their compliance with IFAC international standards,the Fiji Institute of Accountants Council agreed on a revised list "recognised associations" which should be limited to eight. 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, or evidence that the applicant has made plans to reside and work in Fiji or the neighbouring Pacific Islands.
The Australian Society of Certified Practising Accountants (CPA Australia)
The Hong Kong Institute of Certified Public Accountants (HKICPA)
The Chartered Accountants of Australia and New Zealand (CAANZ)
The Institute of Chartered Accountants in England and Wales (ICAEW)
The Institute of Chartered Accountants of India (ICAI)
The Institute of Chartered Accountants in Ireland (CA Ireland)
The Institute of Chartered Accountants of Scotland (ICAS)
The Institute of Chartered Accountants of Sri Lanka (ICASL)
Chartered Accountant in Public Practice
A Certificate of Public Practice may be issued to a full member who had not less than three years' acceptable practical experience in the office of a chartered accountant in public practice after being admitted as a Chartered Accountant.'
Student Member
Students studying accountancy at tertiary institutions are invited to become student members and take part in activities of the Institute.