Passing Failiures

Sweat, blood and tears are good. Then maybe you can just pass on those CIMA papers like I did (I shudder to think about the bucketfuls due for November at the Management Level, and beyond). I am grateful to the Lord and to all the people whose prayers pulled me through.

On the other hand, life just isn't effortless any more. I know I don't always dot my is' and cross my ts' but I missed out on the minimum 7 band IELTS requirement in the writing section. Which means another Rs. 10k (or is it 12k already?) and unnecessary delays. I guess this time around I'll have to sit down and do some 'practice' - or at least one blog dedicated to IELTS exam strategy, because that's where I messed up.

'Unnecessary delays' is right because I just had a virtual classical Homer Simpson 'doh moment while going through the assessment criteria for immigration. Turns out I could have been in Australia already (yeah right), if I had applied just a few months earlier, i.e. pre July 2010 criteria, which was pretty much the same except for the IELTS requirement (I'm guessing).

But new immigration rules have come up which are both better (less number of applicants and processing time) and worse (more difficult to pass).

Turns out that the New Australian SOL (Skilled Occupation List) is indeed friendly to management accountants and accountants in general, as well as ICT business analysts.

Now that's not surprising, as I had been blogging about these two occupations before.

However, assessing authorities have an important update, which may or may not be any different from the previous case, and if so, something I failed to comprehend previously.

From 1 July 2010 the criteria for General Skills Migration is:

1. A score of at least seven (7) on each of the four (4) components - speaking, reading, listening and writing on the IELTS academic training. (General training will not be accepted by CPA Australia, as stated in their FAQ page, while Academic training has not been explicitly excluded from any assessing authority)
   
2. A formal qualification assessed as being at least comparable to an Australian Bachelor degree
3. Completion of at least 9 out of the 12 core knowledge areas at tertiary level.

My US Bachelor's degree is very likely to meet the criteria for a formal qualification assessed as being at least comparable to an Australian Bachelor degree.

The 12 core knowledge areas are as

Compulsory knowledge areas:

1. Accounting Systems and Processes
2. Corp Accounting & Reporting (Financial Accounting)
3. Accounting Theory, Professional & regulatory processes
4. Cost & Management Accounting

Optional areas (any five):

1. Finance
2. Auditing & Assurance
3. Legal Framework & Commercial Law
4. Corporations/ Company Law
5. Taxation Law
6. Information Systems Design and Development
7. Economics
8. Quantitative Methods

In determining the status of the degree qualification, assessing authorities mainly use the guidelines published in the relevant AEI-NOOSR country education profile, as stated in the CPA FAQ here.

Unfortunately, access to the relevant country education profile is a subscribed service so I can't verify for myself whether I qualify or not.


However, unless I am a CIMA member (i.e. fully qualified, and at least more than one fast, hectic hellishly stressful year away), then I won't be applying as a member of an overseas accounting body, as I was pinning my hopes on previously.

The appropriate method would be to use my US Bachelor's degree and other qualifications to apply, demonstrating knowledge of the core business areas. At worst, I will still be on my way to qualifying CIMA even with a negative assessment for migration purposes, and there should be no stopping me once I am fully qualified.


The assessing authorities and their documentary requirements are listed below:

ICAA: https://www.charteredaccountants.com.au/A122565522
NIA: http://www.nia.org.au/immigration/alert-assessment-changes
CPA: http://www.cpaaustralia.com.au/cps/rde/xchg/cpa-site/hs.xsl/become-how-migration.html


The application process for each of the assessing authorities is given below:


CPA:

This page provides information about the online application process for migration purposes, and a login page to check the status of the application.

The FAQ page lists the processing fee at $350 AUD.

In case my assessment result tells me that I must complete further studies, CPA updates for migration purposes are provided at no extra cost for the two-year validity period of the initial assessment, as stated on the FAQ page.

There are then two options: complete studies via the CPA Program foundation level or via accredited courses offered by other higher education providers. If I go through CPA Program’s foundation level, I will need to first apply for a Membership Entry Pathway Assessment, which costs an additional $138. Once this has been completed, I will be able to enroll into the foundation level exams.

Also, Chartered Institute of Management Accountants (CIMA) is a recognized professional accounting qualification for CPA, as listed on their professional accounting qualifications page, in contrast to other bodies such as the ICAA which only partly-recognize it.

I may need to keep this in mind when I demonstrate completion of core knowledge areas through my studies with CIMA.


ICAA:

The Uni or tertiary qualified process is the way to go, which involves downloading and sending a form with documents. An acknowledgment email will include instructions on how to access the the Institute's secure website to check the status of the application.

Fees are AUD $350 for normal processing and $395 for fast processing within half the advertised time, as listed on the Fees and Processing page. The assessment for migration also includes simultaneous assessment for entry into the ICAA program and other information concerning the accountancy profession in Australia, as per the information on this page.

The Institute struck me as the most impressive and professional of the three assessing authorities, particularly in responding to my emails. The TAT for each email took no longer than one working day, whereas the CPA took more than that and the NIA never responded, even with an automated message. Information on the website was also a lot easier to find and generally had a more professional appeal. Their clearly stated policies were also easier to disambiguate for clarity.

Further, the ICAA is a member of the Global Accounting Alliance, which represents over 775,000 professional accountants in over 165 countries from around the globe, and seems much more substantial concerning international recognition than the other two bodies.

However, the Institute only partly recognizes CIMA, UK, though this does not really make any difference, except for the wordings as far as I can see.


NIA:

The How to Apply page involves downloading and filling a form and sending it with my documents, which will be assessed and advised.

Cost of assessment for GSM is $350, and a re-assessment fee of AUD $150 will apply on any subsequent reassessments within 12 months.



Finally, following the research, the plan of action is thus:

1. Select which accounting body will make the assessment. For the reasons identified above, the ICAA seems to be my best choice.
   
2. Fill the form and get all my documents together
3. Register for the next IELTS Academic Test
4. Practice and prepare for the IELTS test to make sure I meet the minimum 7-7-7-7 requirement
5. Send in my documents for assessment together with the AUD $350 fee (which may mean I may have to skip the November exams to meet my budget)