Depending upon qualifications and practical experience an applicant may be eligible for admission and registration either as an Accounting Technician, a Associate Accountant or a Chartered Accountant. The specific qualifications and practical experience required for each category of membership are set out in the following paragraphs.
An applicant who wishes to be registered as an Accounting Technician must have graduated with either a recognised Diploma or a recognised Degree with sufficient academic units that would satisfy the essential elements of the recognised Diplomas.
The recognised Diplomas (pre 2011 Diplomas marked with an asterisk) are as follows:
University of the South Pacific Diploma in Accounting Studies; or
University of Fiji Diploma in Accounting; or
Fiji National University 2011 revised Diploma in Accounting; or
Fiji National University Advanced Diploma in Accounting*; or
Fiji Institute of Technology Diploma in Business Studies (Accounting)*; or
TAFE Advanced Diploma in Accounting, Western Sydney Institute offered through the National Training Productivity Centre of the Fiji National University
The recognised Degrees are listed under the requirements for Associate Accountant.
Accounting Technician are not required to have gained any practical experience.
Applicants who have completed a recognised Degree but who have not completed all the 20 prescribed undergraduate academic units to qualify as a Associate may also qualify for admission as Accounting Technician provided they have completed sufficient of the prescribed academic units substantially to qualify for a recognised Diploma.
Any applicant who wishes to be registered as a Associate Accountant must have graduated with a recognised Degree and have completed at least the 20 academic units required by the Fiji Institute of Chartered Accountants.
The recognised Degrees are as follows:
University of the South Pacific Bachelor of Commerce in Accounting; or
University of Fiji Bachelor of Commerce (Accounting); or
Fiji National University Bachelor of Commerce (Accounting); or
Fiji National University Bachelor in Accounting
The Fiji Institute of Chartered Accountants does not directly recognise any academic qualifications gained at overseas (non Fiji) technical colleges or universities. Applicants with any such overseas academic qualifications will need to have their official transcripts assessed by the University of the South Pacific for comparability. The Institute will facilitate this assessment provided the applicant makes available the originally certified stamped transcript and certificate.
The academic units that applicants for admission as an Associate Accountant will need to have completed are as follows:
| No. |
Unit Name |
The University of the South Pacific |
Fiji National University |
University of Fiji |
Fulton College |
| Unit Code |
Unit Code |
Unit Code |
Unit Code |
| 1 |
Introduction to AFM Part I |
AF101 / AC101 / SE171 |
ACC501 / C5001 / C4034 |
ACC101 |
BAAS102 |
| 2 |
Introduction to AFM Part II |
AF102 / AC102 / SE172 |
ACC502 / C6004 / C5032 |
ACC102 |
BAAS203 |
| 3 |
Introduction to Law of Commerce |
AF108 / AC204 / AC306 / SE376 / SE275 |
LAW501 / C5002 / C4371 |
ACC103 |
BAGS202 |
| 4 |
Introduction to Accounting Information Systems |
AF121 / IS121 / IS100 / CS121 / CS100 |
CIN506 / C5101 / C4231 |
ACC110 / ITC100 / ITC101 / CSA101 |
BACS102 |
| 5 |
Principles of Macroeconomics |
EC101 / EC102 / SE111 |
ECN501 / C5202 / C4271 / ECN502 / C5272 / C5205 |
ECO101 / ECO102 |
BAAS103 |
| 6 |
Financial Mathematics |
FM101 / MA101 / MA111 / MA251 / ED214 |
MTH507 / C5701 |
MTH101 |
BAAS101 |
| |
Plus any two other 100-level units |
BAGS101 |
| |
BAGS102 |
| 7 |
Managerial Accounting |
AF201 / AC201 / SE271 |
ACC602 / C6002 |
ACC201 |
BAAS301 |
| 8 |
Law of Associations |
AF205 / AC205 / AC305 / SE375 |
LAW603 |
ACC205 |
BAG203 |
| 9 |
Financial management |
AF208 / AC303 / SE373 |
FIN601 / C6202 |
ACC208 |
BAAS304 |
| 10 |
Financial Accounting |
AF210 / AF203 / AC203 / AC202 / SW272 |
ACC601 / C6001 / C5031 |
ACC203 |
BAAS201
BAAS305 |
| |
Plus any two other 200-level units |
BAGS201 |
| |
BACS201 |
| 11 |
Accounting Theory and Applications |
AF301 / AC301 / SE371 |
ACC706 |
ACC301 |
BAAS204 |
| 12 |
Information Systems |
AF302 / AC302 / SE372 |
CIN708 |
ACC302 |
BAAS202 |
| 13 |
Auditing |
AF304 / AC304 / SE374 |
ACC701 / C7001 |
ACC304 |
BAAS302 |
| 14 |
Taxation Law |
AF308 / AC308 / AC305 / SE375 |
LAW601 / C6003 / C5531 |
ACC308 |
BAAS303 |
| |
Plus any two other 300-level units |
BAGS301 |
| |
BAAS306 |
Associate Accountant are not required to have gained any practical experience.
An applicant who wishes to be registered as a Chartered Accountant must have graduated with a recognised degree and have completed at least the 20 academic units required by the Fiji Institute of Chartered Accountants (i.e. the same undergraduate academic qualifications that are required for a Associate Accountant) but he/she is also required to complete a minimum of three years of practical experience and also to complete either the four “core units” out of the USP’s/FNU’s/UOF’s Postgraduate Diploma in Professional Accounting.
Applicants for Chartered Accountant membership are required to complete a total of at least 3 years of acceptable practical experience. One of those years may be completed before the completion of the 20 required undergraduate academic units but the other two have to be completed after completing the last of the 20 required academic units and must be completed under the supervision of an eligible mentor.
- MENTORED PRACTICAL EXPERIENCE
Applicants for mentored practical experience will be required to enter into an agreement with an “eligible mentor” (any registered Chartered Accountant with at least 4 years of practical experience after being admitted as a Chartered Accountant) to supervise the next two years’ practical experience of the applicant. The signed mentor agreement must be submitted to FICA prior to the commencement of the mentorship. During those two years the applicant will be required to demonstrate to the mentor that he/she has gained experience in at least three of the following six areas of practical experience (with in-depth experience in one):
Auditing
External Reporting
Insolvency and Reconstruction
Management Accounting
Taxation
Treasury
Applicants applying straight into CA membership must provide a status declaration by mentor accompanied by the mentor agreement. This requirement does not apply to current members and cross-credit applicants.
- PRACTICAL EXPERIENCE FOR ACADEMICS
Applicants in academia are required to hold a Doctorate or Masters degree majoring in Accounting or in an allied subject and to have held a position of lecturer or a more senior position at an accredited tertiary institute teaching undergraduate or postgraduate courses required to be completed by applicants seeking admission to the Institute as a Chartered Accountant for at least five years. Applicants will have taught a range of courses including at least 3 out of the 6 categories of practical experience required for non academic applicants, certified by a senior academic.
- POSTGRADUATE REQUIREMENTS
Applicants for Chartered Accountant membership are also required to complete four “core units” out of the USP’s/FNU’s/UOF’s Postgraduate Diploma in Professional Accounting.
Alternatively applicants may now enrol for four out of the following 10 accredited postgraduate units offered by the University of the South Pacific under its Postgraduate Diploma in Professional Accounting with the one marked in bold being compulsory:
USP Postgraduate Diploma
AF420 Financial Statement Analysis
AF431 Advanced Management Accounting
AF432 Information Systems Control Audit
AF433 Advanced Financial Accounting
AF401 Forensic Accounting and Practice
AF405 Fraud Accounting and Investigation
AF436 Accounting for Management Control
AF437 Issues of Governance and Ethics in Accounting
AF439 Advanced Taxation Contemporary Issues
AF440 Advanced Taxation Structures
[AF437 and
one out of AF420, AF431, AF432 and AF433 are compulsory, plus two other of the listed units as electives]
FNU Postgraduate Diploma
ACC811 Entrepreneurship, Ethics and Governance
ACC801 Taxation of Business Enterprises
ACC802 Developments in Auditing and Assurance Services
ACC803 Advanced Financial Reporting
ACC804 Developments in Management Accounting
ACC807 Forensic Accounting – Conduct and Procedures
ACC808 Forensic and Litigation Services
ACC809 Fraud Examination and Investigative Techniques
FIN807 Financial Statement Analysis
FIN808 Advanced Corporate Finance
TAX801 Taxation of Business Enterprises
[ACC811 and
one out of ACC802, ACC803, ACC804 and FIN807 are compulsory plus two others of the listed units as electives]
UOF Postgraduate Diploma
Core Courses:
ACC402 Ethics, Governance & Accountability
ACC403 Advanced Financial Reporting
ELECTIVES: (Two courses from the following)
ACC401 Advanced Accounting Theory
ACC404 Advanced Management Accounting
ACC405 Advanced Auditing and Assurance Services
ACC406 Financial Statement Analysis
ACC407 Business Research Methods
ACC408 Advanced Taxation, Law & Practice
- CERTIFICATE OF LIMITED PUBLIC PRACTICE
Under Rule 10 (1) of the FICA Rules, a certificate of public practice shall be issued to a member who satisfies the Council that he meets the following requirements:
(a) he or she is a fit and proper person to offer accounting services to the public and is resident in Fiji;
(b) he or she is a Chartered Accountant member of the Institute and has been a member for at least 7 years;
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(c) he or she proposes to hold himself or herself out as offering accounting services to the public from an office, the location and organisational arrangements of which has been approved by the Council; and
(d) he or she is able to carry out the work a holder of a Certificate of Public Practice is able to do with the exception of external auditing of financial reports for the purpose of giving an opinion as to whether the reports are a true and fair position of the status of the entity that is being audited.
The Council, when considering whether or not to grant its consent for a chartered accountant in Limited public practice to form or to use an incorporated company may take into account and prescribe any or all of the following conditions:
(2) A member who holds a Certificate of Limited Public Practice is able to do all work carried out by a member who holds a Certificate of Public Practice except external auditing of financial reports for the purpose of giving an opinion as to whether the reports are a true and fair position of the status of the entity that is being audited.
(3) A Certificate of Limited Public Practice may only be issued by the Council at a Council meeting.
(4) Any member who proposes to offer auditing services to the public but who cannot, or who does not, comply with the requirements imposed upon an auditor under the provisions of International Standards for Quality Control (ISQC) or as determined by the Council must only be issued with a Certificate of Limited Public Practice, excluding the right to offer auditing services.
- CHARTERED ACCOUNTANT IN PUBLIC PRACTICE
Under Rule 9 (1) of the FICA Rules, a certificate of public practice shall be issued to a member who satisfies the Council that he meets the following requirements:
(a) is a fit and proper person to offer accounting services to the public;
(b)s resident in Fiji or if he or she is not resident in Fiji, is a partner in a firm of Chartered Accountants practising in Fiji;
(c) is a Chartered Accountant member of the Institute;
(d) has had 3 or more years of acceptable practical experience under the supervision of or in the office of a Chartered Accountant in public practice in Fiji or at the Office of the Auditor General after becoming a Chartered Accountant in Fiji or by a recognised association, or has had 7 or more years of acceptable practical experience under the supervision of or in the office of a Chartered Accountant in public practice in Fiji or by a recognised association;
(e) proposes to hold himself or herself out as offering accounting services to the public from an office, the location and organisational arrangements of which the Council has approved; and
(f) any other condition that the Council deems necessary.
The Council, when considering whether or not to grant its consent for a chartered accountant in public practice to form or to use an incorporated company may take into account and prescribe any or all of the following conditions:
a) the functions which the proposed company intends to practise and whether these might be in conflict with the professional and ethical standards of the Institute;
b) the name proposed for the company and whether that would indicate specialised services;
c) that the shareholders carrying majority voting rights and a majority of directors of the company shall be restricted to professional accountants in public practice and any other shareholders or other directors of the company who are not chartered accountants in public practice should be restricted to employees of the company;
d) the Council should be advised of any material change in the shareholdings or the directorships of the company or of any proposed amendment to the memorandum and articles of association of the company.
Under Rule 23.—(1) of the FICA Rules, A registered Chartered Accountant may apply in writing to the Council in the approved form, accompanied by the approved fee, to be admitted as a Fellow of the Institute and must satisfy such conditions as approved by the Council. (2) Any person who applies to be a Fellow of the Institute must—
(a)be a resident;
(b)have paid his or her annual fee for a period of not less than 10 years; and
(c) have made a significant contribution to the Institute.
(3) Upon admission of the person as a Fellow of the Institute and for such time that the person is a Fellow of the Institute, the person is entitled to—
(a) describe himself or herself as a “Fellow of the Fiji Institute of Chartered Accountants”; and
(b) use the abbreviation “FCA (Fiji)” after his or her name to indicate his or
her qualification.
The Fiji Institute of Chartered Accountants “recognises” the following 8 overseas accounting bodies and may consider admitting people to FICA membership who are current members in good standing of those accounting bodies. However such admissions will only be to membership at the equivalent level to the membership held in the overseas accounting body and will be dependent in most cases, on evidence that the applicant has made plans to reside and work in Fiji or the neighbouring Pacific Islands.
The Certified Practising Accountants of Australia
The Institute of Chartered Accountants of India
The Hong Kong Institute of Certified Public Accountants
The Institute of Chartered Accountants in Ireland
The Chartered Accountants of Australia and New Zealand
The Institute of Chartered Accountants of Scotland
The Institute of Chartered Accountants in England and Wales
The Institute of Chartered Accountants of Sri Lanka