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) 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:
USP Diploma in Accounting Studies
UOF Diploma in Accounting
FIT Diploma in Business Studies (Accounting Option)
FNU Advanced Diploma in Accounting
TPAF Advanced (TAFE) Diploma in Accounting
NZPTC Advanced (TAFE) Diploma in Accounting
5. Applicants who have completed a Bachelor of Commerce Degree at the USP, 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/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/EC 102 ECO 102 ECN 501/ ECN 502
IS100/IS121 OR CS100/CS121 CS 100 CIN 506
FM101 OR MA101/MA111 MTH 101 MTH 507
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 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 four 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 1st 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 as 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 31st 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 31stDecember 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 (also listed below) of which two (AF 433 and AF 437) are compulsory and the other two are electives:
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 Auditing and Assurance Services
· AF433 Advanced Financial Accounting
· AF434 Business Information System
· AF436 Accounting for Management Control
· AF437 Corporate Governance and Ethics
· AF439 Advanced Taxation Contemporary Issues
· AF440 Advanced Taxation Standards
Cross – Credit Admission
17. The Fiji Institute of Accountants “recognises” the following 18 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.
The American Institute of Certified Public Accountants
The Association of Certified and Corporate Accountants of the United Kingdom
The Australian Society of Certified Practising Accountants (CPA Australia)
The Canadian Institute of Chartered Accountants
The Certified General Accountants Association of Canada
The Hong Kong Society of Accountants
The Institute of Certified Public Accountants of Singapore
The Institute of Chartered Accountants in Australia
The Institute of Chartered Accountants in England and Wales
The Institute of Chartered Accountants of India
The Institute of Chartered Accountants in Ireland
The Institute of Chartered Accountants of Scotland
The Institute of Chartered Accountants of Sri Lanka
The Japanese Institute of Certified Public Accountants
The New Zealand Institute of Chartered Accountants
The Papua New Guinea Institute of Accountants
The Society of Management Accountants of Canada
The South African Institute of Chartered Accountants