Frequently asked questions
What is the current status of ACCA's effort to secure a Mutual Recognition Agreement with AICPA?
ACCA is engaged in an on-going effort to secure a Mutual Recognition Agreement (MRA) in the US. Submission papers have been forwarded to the appropriate regulatory bodies and are currently under review by the International Qualifications Appraisal Board. A progress report will be forthcoming in the near future.
Is ACCA recognized in the US?
The ACCA qualification is well recognized among the major accounting firms and multinational organizations in the US, but not well known among small to medium sized enterprises. A short description on your resume to the effect that the ACCA designation is the international accounting qualification of the largest, and fastest growing accountancy body in the world representing over 345,000 members and students in 170 countries will help inform recruitment specialists of its value.
What are the employment prospects for ACCA members in the US?
Due to the Sarbanes-Oxley reforms and the increasing globalization of business enterprises in the US, job prospects for ACCA members and the accountancy profession, as a whole, are considered quite promising right now. Additional course work in US GAAP related topics would also be helpful, but not mandatory.
Could ACCA provide me with a list of recruitment agencies around the country, and/or in California that specialize in the accounting profession .
Please check the list of recruiters described in the Careers section of the ACCA US website.
Is there anything that the US chapter of ACCA can do to assist me in securing a job in the accounting field?
ACCA US chapters are ideal opportunities to network with other members and students to discover where there might be possible openings. Members and students can also join the ACCA US communities site and explore opportunities with members and students from around the country. ACCA US will also circulate open positions via direct email.
Are there exam centers in the US?
There is a permanent test center in New York. There are other test centers, but the exact locations may vary from year to year. Please check your examination attendance docket carefully.
I have just moved to the US and would like to take my ACCA exams here. How do I change my exam center?
First, make sure you have changed your address by logging on to myACCA. In addition to your examination entry form (EEF), you will receive an examination center list which includes every exam center ACCA operates around the world. Include your request to take an exam at one of the US sites described on the exam center list, when you register to take the exam.
If I am not living in or near one of the three test centers in the US, may I request a special exam center near me?
Yes, you may request a special test center. If you require a special center, complete the EEF with the papers you wish to sit and payment details and leave the center name blank on the form. Submit a cover letter requesting to sit the exam in a particular venue/city.
Students must submit their requests in writing by the 15th of March for the June exams and by the 15th of September for the December exams. Address your correspondence to:
Examinations Department
ACCA
2 Central Quay, 89 Hydepark Street
Glasgow, G3 8DW
Or, you can e-mail your request to students@accaglobal.com
There will be an additional fee for requesting a special exam center which will be confirmed by the supervisor at the exam center. If a student must make any changes, the closing date for such requests must be made to the Glasgow office by April 15th for the June exams and October 15th for the December exams.
Is it possible to register for a special exam site, but write the exam at another site?
All students are assigned an examination attendance docket for a specific exam center. If an exam center is set up by special request, it can only be attended by the student(s) who have requested it. For example, if a student has requested and been entered for an exam center in Michigan, they must attend the Michigan exam center and cannot attend the San Francisco center as there may not be sufficient papers at that center.
The same procedure applies to regular centers. If you have applied to take the exam in New York, you cannot attend exams at the Houston center.
When can I expect to receive my exam attendance docket?
A student can expect to receive the attendance docket four to six weeks prior to the exam.
Are there computer based exams in the US?
There are no centers for computer based exams in the US at this time.
Are there ACCA chapters in the US?
There are currently eight chapters in the US: one in the NY/NJ/CT tri-state area, Boston, Philadelphia, Houston South Florida, Chicago, North and South California. Chapters are important forums for networking, job searching and CPD related activities. Both members and students are welcome to join. Chapters meet on a quarterly basis.
How does ACCA US determine where a chapter should be located?
We rely on requests by members and students and it depends on whether there are enough members and students in the area. In addition, assessments are being conducted around the country to determine if the numbers would be sufficient in a given area. If the numbers are sufficient a short survey will be conducted among members and students to determine the level of interest in starting a chapter and the availability of a chapter head.
American Institute of Certified Public Accountants (AICPA)
I would like to obtain CPA certification in the US. What is the best route that you can suggest?
Each state has its own requirements to become a Certified Public Accountant. Residency, experience and education requirements can vary significantly. Please check the following website for the minimum requirements to become a CPA in each of the 50 states, the District of Columbia, Guam and the Virgin Islands: www.aicpa.org/states/uaa/digest.htm
In order to meet the minimum educational requirements for the CPA, what degree is the ACCA qualification considered equivalent to in the US?
In some states it is equivalent to an undergraduate degree, but not in others. You may want to have your educational credentials assessed by an evaluator approved by the CPA association in the state in which you wish to apply.
Are there any colleges or universities that offer ACCA courses in the US?
Unfortunately, there are no tuition providers in the US at this time. ACCA has explored this situation, but it is difficult to find enough students studying the same courses in one location to make it economically feasible. Most ACCA students in the US complete their course work through correspondence.
Where can I find study books?
Please contact students@accaglobal.com to obtain further information on acquiring textbooks.
Continuing Professional Development (CPD)
Since work experience would count towards CPD requirements - what kind of work can count? What supporting documentation will be required to obtain CPD credit in the US?
Any work experience which helps people learn, maintain new skills and stay current can count; for example, a research project on a new IT system, or a new business plan. Any situation where one is not just delivering, such as mentoring, coaching or internal networking. A key element is a distinct period of time where you have learned a new skill, or a new way of doing something and it is relevant to performance in a current or future role in your career.
When and how does a member submit information regarding CPD? Does one maintain an excel spreadsheet, or are there standard forms to complete and e-mail at some point - and to whom?
Information should be completed every year on the general member subscription form by checking the appropriate box. ACCA is developing an on-line form which will provide all the necessary evidence requirements. The site will also keep track of accumulated CPD credits and tell you how many more credits are required for the year. This information can be accessed in October by logging on to www.accaglobal.com/cpdrealise. Individual records can be maintained on an Excel spreadsheet, if desired.
In the US CPA accountants obtain CPE (Continuous Professional Education) credits when they attend training or seminars. Would such events earn CPD credits as well?
In most cases CPE credits will count as CPD credits as well. The key test is whether the training/seminars are relevant to the individual's current or future career objectives.
Given the similarity of the two qualifications (ACCA and CPA) can a CPD credit be considered equal to a qualified CPE credit?
One unit of CPD equals one hour of course work, training, research etc. Effectively, this brings ACCA in line with AICPA requirements.
Can CPE credits that satisfy CPA requirements also be used as CPD credits to satisfy their ACCA requirements, otherwise it would be extremely onerous to have to complete credits for both qualifications.
If you are a member of two accounting bodies, you would not have to comply with two sets of CPD schemes. You can choose which you want to comply with and notify ACCA that you have complied with AICPA requirements, if that is the case. AICPA courses would also comply with ACCA requirements.
Will courses in such subjects as Accounting Information Systems, Environmental Management Accounting count toward CPD?
Such courses will count as long as they are relevant to your current or future role as an accountant.
Is there an e-mail address to verify whether a particular course will count toward CPD?
Please direct your queries to www.accaglobal.com/cpdrealise . They should be able to help you.
Is ACCA planning on providing US members with any CPD courses via ACCA's website?
For those members who wish to take courses online, ACCA is creating a dedicated e-learning area on the ACCA Realize CPD website where members will be able to access a wide range of technical and personal development materials. ACCA is also introducing a global list of registered CPD providers on the website.
On what basis will ACCA evaluate courses provided by other accountancy or training institutions?
ACCA will not evaluate courses provided by other accountancy or training institutions, but as long as the training can be proved to be relevant to your current or future career requirements, it will qualify as CPD training, regardless of the provider.
Are there specific institutions in, for example, Washington DC, where one can obtain CPD credits, or can one go to any institution of one's choosing?
You can take CPD courses at any institution as long as they are within the ACCA guidelines. Check the ACCA website for further criteria and for CPD registered providers in your local area.
Can the time spent on a masters program, or further studies such as for CFA, CMA or CPA designations qualify as CPD for ACCA members and be applied to the CPD requirement?
Yes, all are relevant and can be applied to the CPD requirement as long as its part of your present or future career plans. In addition, excess CPD credits may also carry forward from one year to the next.
Are there any free CPD courses conducted in the US like the CPD meetings which take place in the UK?
Networking meetings will count toward CPD. There will also be free online courses offered on the ACCA site, plus a knowledge library.
As an accountant from the UK whose exams were taken under Scottish law would CPD credits need to be UK GAAP related, or can it pertain to US GAAP?
The key is relevance. If you are planning to move back to the UK, then UK GAAP related CPD credits would be relevant. If you are currently applying US GAAP accounting standards, then US related credits would be relevant.
What are the CPD requirements for those not currently employed and how does one meet these requirements if unemployed?
There will be a waiver system. CPD credit requirements will be pro-rated to account for any period of unemployment.
Will attendance at local seminars and education events given by the local CPA groups count toward CPD credit? Could you provide more guidance on the specifics of the requirements and how to satisfy them?
Attendance at local CPA seminars and educational events would most likely be relevant. Check the ACCA website in October for further information on the quality standards of courses and seminars.