ACCA Qualification being downplayed in Guyana

Jan 30, 2019 Letters

Dear Editor,

The Association of Chartered Certified Accountants (ACCA) is a highly prestigious and accredited body, which offers professional accounting qualification that is globally accepted. The structure of the ACCA syllabus is intended to produce the world’s best qualified and sought-after accountants.
It is very disturbing to see the ACCA qualification being downplayed by employers in Guyana and I hope this letter will bring some clarifications on its equivalence.
Numerous employers when recruiting an Accounting/Finance personnel are requesting a University Degree or ACCA qualification. ACCA qualification is equivalent to a Master’s Degree. Completion of level two is equivalent to a Bachelor’s Degree.
An ACCA member is someone who has passed all thirteen exams, gained three years relevant and certified experience and have completed the ACCA Professional Ethics module. After five years of membership, compliance and CPD one can become FCCA. Letters of Equivalence are published by the body to justify this.
Therefore, if an accounting position requires a BSc. Degree, ACCA Level 2 should be accepted and NOT completion of the entire ACCA programme. Employers should equate the qualifications requirement accordingly when advertising for accounting/finance positions.
I suggest employers do their due diligence before posting requirements for certain jobs. It seems that some employers don’t know much about the different levels. I noticed an employer asked for CAT or ACCA. Now there is a huge difference and a huge gap as ACCA by far supersedes CAT.
There is an Institute of Chartered Accountants of Guyana, a body, which should be providing some guidance.

Name Withheld

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