chartered institute of ireland

8/6/2019 Chartered Institute of Ireland

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CharteredAccountantsIreland

Prepared by;D.M.R Gunawardane

MC 53917CPM 3909


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Governance of Ireland

Republic of Irelandby Government of Irelandact 1920

Northern IrelandConflict between Nationalist and Unionist

Belfast Agreement

32 Counties


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Ireland

Source: Wikipedia


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Quick Glance - Ireland

By 2007, the fifth richest country in the world interms of GDP per capita

Dublin is the largest city on the island

Ireland act as a single entity in a number of areasUses two distinct currencies ( and )

Most of commercial activities carried out on anall-island basis


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AccountingEducation

Ireland


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"ProfessionalAccounting Body"

Institute is a membership based organization that educates, certifies,regulates and develops accountants and auditors

Education and Training

Continuing Professional Development

Technical StandardsMembership

Practice

Investigations

Discipline

Professional Standards


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Accounting Education

Institute of Accounting Technicians IrelandA leading professional body for Accounting Technicians on Ireland.Established in 1983, Represent 10,000 members. A member of theInternational Federation of Accountants.

Institute of Certified Public Accountants in Ireland (CPA)

First accountancy body to introduce a mandatory regime ofContinuing Professional Education, and a founding member of theIFAC. Fulfils its statutory role as a recognized body by overseeingthe professional activities.


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Accounting Education

The Institute of Incorporated Public Accountants

One of Irelands six Recognized Accounting Bodiesregulated by the Irish Auditing and AccountingSupervisory Authority, focusing on the provision of

professionals specializing in the Small and MediumBusiness Sector


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Institute of

CharteredAccountants

Ireland


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CharteredAccountancy

Provides essential strategic guidance, expertiseand consultancy across a vast array of businessactivities

Greater ability to analyze and interpret businessproblems in multiple dimensions and developdynamic solutions

Brings global mobility


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Institute of CharteredAccounts Ireland

Formed by Royal Charter in 1888

Adopts IFRSs, IASs & IFRIC interpretations

endorsed by the European Union in their F/S18,000 members

6,500 students


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Become a member

Through traditional route

Elevation program


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Traditional Route

School leavers

Adhering to Training contract


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Elevation program

Entry CriteriaHolders of undergraduate degrees

Graduates of ICAI sister body, IATI

+

4 years work experience


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The elevationprogram

Upon entering students have a period of8 years tocomplete studies and to gain requisite experience

Students not required to enter into a trainingcontract, However it require to select a mentor whois a Chartered Accountant

The course allows to sit two subjects at a time upto CAP2 level

Experience requirements depends upon the entryqualification of students.


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Academic Levels

Three academic levels

CA Proficiency 1 (CAP1)

Finance

Management Accounting

Financial Accounting

Law for Accountants

Taxation

complete a hands-on IT assessment

Final Admitting Exam (FAE)

FAE Core and FAE Elective

FAE is examined over three days

Core is examined by integrated case-study papers in the first Two days

FAE Elective is examined on the third day

-Advanced Audit and Assurance

- Advanced Taxation

-Advanced Performance Management

CA Proficiency 2 (CAP2) Auditing & Assurance Strategic Finance & ManagementAccounting Financial Reporting Taxation II


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Fees

ICAI has a single fee structure that covers all costs associated withthe education.

The single course fee provides for:

Exemption / Eligibility Assessment

1st attempt education program fees1st examination fees

All text books, toolkits, and notes

Access to online education resources

In addition, there is no registration fee, no any yearly subscription fee.


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Comparison withICASL

ICAI has extended reach to studentsICAI is more Innovative

New elevation program

Fee structureICASL has 3000 members, & over 25000 registered studentswhich is the reciprocal of the member student ratio of ICAI

ICASL offers subjects, Business Mathematics & Statistics

Management, Business Economics, Businesscommunication and Information Technology in addition tosubjects offered by ICAI

C l i


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Conclusion

Training contract relates to theattractiveness of the qualification

Ability to enhance the reach of ICASL

ICASL is more popular within highereducation seekers


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Thank You

Source: Wikipedia

Official websites of Accounting B

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