ACCA Frequently asked questions

ACCA Professional Level Programme

Structure of the new syllabus, exam regulations and fees

Conversion rules for existing students

1. How long will it take to complete the ACCA qualification under the new scheme?

It is anticipated that students will progress through the new scheme at a similar rate to the previous scheme. All students will have a time limit of ten years to complete their examinations from registration or conversion apart from those wishing to obtain a UK Practising Certificate (Audit)*. The average time in which students will be expected to qualify will be three-four years.

*see Question 3 below

2. What is the maximum number of papers which can be sat at an examination session?

You can sit up to a maximum of 4 papers at each sitting. The papers must be attempted in the order they appear on the syllabus, but as the scheme no longer follows a modular approach, papers can be attempted one at a time (apart from core subjects at the final stage which must be attempted together).

3. Has there been any change in the time limit available to complete examinations?

Under the new scheme, all students will have 10 years to complete the examinations from their first examination sitting. However, those who wish to obtain a UK Practicing Certificate (Audit), and who have been exempted from all Part 1 and 2 examinations, will normally be required to complete their Part 3 examinations in a maximum of five years from the award of these exemptions.

4. Will variant papers still be available in tax and law?

Yes, variant papers which reflect the law and tax of other countries will continue to be offered under the new syllabus, where appropriate. In addition, students can sit papers 1.1, 2.5, 3.1 and 3.6 in accordance with International Accounting and/or Auditing Standards, or if they prefer, study for the UK or local versions of these papers.

5. Will exemptions still be awarded to non-relevant degree holders?

No. Degree holders in subjects other than business studies and/or accountancy (including economics and mathematics) will no longer qualify for any exemptions from the professional examinations. Employers who responded to the consultation were very firmly of the view that all aspiring accountants should cover all of the core skills identified in Part 1.

6. Will business and/or accounting degree holders still be eligible for exemptions under the new scheme?

Business and/or accounting degree holders from recognised institutions will be able to claim exemptions from some or all of the papers in Parts 1 and Part 2, up to a maximum of nine papers. Exemptions will not be available for any Part 3 papers, irrespective of the qualification.

7. Will it be possible to take more than the required two options if I want to?

You will be allowed to take up to two options before completing the core papers in Part 3 (3.5, 3.6 and 3.7). You will be able to attempt further options having cleared these core papers if you wish to do so. However, students cannot complete more than two options prior to qualification.

8. Can I combine an option paper with Core papers?

The three core papers must be sat together. They can, however, be sat alongside either an outstanding paper from Part 2 (providing both options have been completed), or one of the option papers so long as one of the option papers has been passed.

9. Can I change my options?

Yes. You may sit two optional papers at one examination diet. If, however, you are unsuccessful in an option(s), you can choose to change your option(s) at a subsequent examination session. This facility may be of benefit to those students whose employment circumstances change. In addition, once qualified, you will be able to complete the additional options should your employment circumstances change.

10. Has there been a reduction in the financial accounting element of the syllabus?

No. In the current scheme of examinations, there are three financial accounting papers, two of which (papers 3.1 and 3.6) have a percentage of auditing in their syllabuses. Under the new scheme, there are three full financial accounting papers - papers 1.1, 2.5 and 3.6.

11. Will the new syllabus increase/enhance students' prospects of securing employment?

The new scheme of examinations is based on comprehensive research which identified the need for future finance professionals to have a greater insight into their strategic role combined with strength in the core accounting disciplines. Examinations in Part 2 focus on development and testing of these core technical areas, while examinations in Part 3 are designed to develop strategic management skills and test their application in a business context. In addition, the introduction of choice at the final level will allow students the flexibility to choose examination papers to suit their work experience thus increasing the relevance of the qualification to a wider range of employment contexts.

12. My current time limit is due to expire in June 2006. Does this mean that I will have 10 years from June 2006 to complete the new syllabus (i.e. until June 2016)?

No. Regardless of current expiry dates, all existing students will have 10 years to complete the new scheme examinations from the time of transfer to the new scheme (apart from those described above in question 3). The 10 years will commence from December 2001, when the new syllabus is examined for the first time. Therefore, all existing students who transfer to the new scheme must complete the examinations by June 2011.

13. If I resign from the register prior to the introduction of the new scheme, and subsequently re-register after its introduction, how long will I have to complete my examinations?

Any student who rejoins the register after the introduction of the new scheme will be granted 10 years (commencing from the date of implementation the new examination scheme on 1 January 2001) to complete their remaining examinations, irrespective of how many years they were on the ACCA register initially.

14. If I resign from the register prior to the introduction of the new scheme, and subsequently re-register after its introduction, will I have to retake any examinations passed previously under the old scheme?

No. All passes gained under the old scheme will be retained (subject to a referral having been obtained from the December 2000 session onwards).

15. Will I have more papers to sit when the syllabus change comes into effect?

No. Students will not have additional papers to attempt following conversion. Conversion for all existing students will take place in August 2001 when the results for the June 2001 examinations are issued.

16. On conversion, will I lose any subjects I have already been passed/been exempted from?

Permanent credit will be given on a paper-for-paper basis up to and including paper 11 for examinations completed under the existing scheme. Students who gain a referral in any paper in Module E in the June 2001 examinations will retain their passes in the two completed subjects, but will be required to sit the equivalent of the referred paper under the new scheme. Students will be expected to complete this paper in accordance with the ten year rule which applies to completion of the examinations following conversion to the new syllabus. Students who gain a referral in any paper in Module F in the June 2001 examinations will only receive 2 consecutive attempts in which to pass the equivalent core paper under the new scheme, otherwise all three core papers must be re-attempted (as per the current referral rules).

17. I am currently studying for another accountancy qualification which receives exemption from papers 1-10 under the current scheme. Will I receive the same exemptions under the new scheme in 2001?

No. Under the new scheme, no qualification will attract exemption from any Part 3 papers. The maximum exemptions awarded to any qualification therefore will be papers 1-9. Any student who holds, or will shortly complete, a qualification which entitles them to 10 exemptions under the current scheme, should have registered as a student no later than 31 December 2000 and ensure they claimed their exemptions no later than 31 January 2001 in order to receive exemption from ten papers. After this date, the maximum number of exemptions which can be claimed will be nine papers.

18. Will I lose subjects I have already been exempted from on transfer to the new scheme?

No. Any exemption(s) will receive credit on transfer on a paper-for-paper basis.

19. If, on joining the new scheme, I am exempt from Parts 1 and 2 examinations and decide I want to become a Registered Auditor. I am aware that I will normally be required to complete the Part 3 exams in 5 years from the date of my first eligible examination session. If, after two examination attempts I change my mind, will I still have to complete part 3 within those five years?

No, if you decide that you no longer wish to apply for Registered Auditor then you will have the standard 10 years to complete Part 3 from the date of the first examination you are eligible to sit. All students who wish to attain Registered Auditor status must complete option 3.1, Audit and Assurance Services. However the five year time limit ONLY applies to candidates who are exempt from Parts 1 and 2 of the new scheme. This time limit does not apply to students registered before 31.12.00.

20. If I want to obtain a UK Practising Certificate (General) or (Consultancy), do I need to complete the Audit and Assurance paper, 3.1?

It is only compulsory to complete this paper if you wish to attain Registered Auditor status and the Practising Certificate (Audit). If you are obtaining another UK PC, you can choose any two from the four available options.

21. If I want to obtain a UK Practising Certificate (Audit), do I have to complete the Advanced Taxation paper, 3.2?

It is only compulsory to complete the Audit and Assurance paper, 3.1 in order to attain UK Registered Auditor status. Students may choose any of the remaining papers 3.2-3.4 as their second option, although if they intend to specialise in audit and taxation, it may be sensible to select paper 3.2. If you are obtaining another UK PC, you can choose any two from the four available options.

22.My registration has lapsed. How do I re-register?

If you wish to rejoin ACCA you should request a re-registration form at students@accaglobal.com Please ensure you include your full name, registration number, full current address to enable ACCA to send you the relevant form. Please note the re-registration form cannot be sent by email.

You may be required a re-registration fee and additional penalty fee if you resigned or removed from the register with fees outstanding in your account.