ACCA performance objectives

[ahr56]

Good evening all,

I am an ACCA student and I work in a medium sized automotive dealer as an accounts assistant.
I am the only finance person employed by the business, though we have external accountants.

I can work through my ACCA exams myself and get my manager to sign off my practical experience requirement.

However, in order to complete the ACCA qualification I need to complete performance objectives, which need to be signed off by a qualified accountant who can oversee my work. The obvious choice would be the external accountants, though they have said they won't do it.
Honestly, I feel as though it's politics going on there - they wouldn't want me to qualify then take the work from them by bringing it all in house. I may be wrong, but gut feeling.

Anyway, I'm really struggling to find somebody who could sign off my performance requirements.
I have contacted the ACCA to ask if a previous manager (qualified accountant) can sign them off but they said no, as they don't oversee my current work.

I'm stuck. Any advice appreciated.
Thanks.

 

[Newchodge]

Honestly, I feel as though it's politics going on there - they wouldn't want me to qualify then take the work from them by bringing it all in house. I may be wrong, but gut feeling.

Try looking at it from their point of view. How would doing this help their business? At what cost?

As for advice, look for a job where there is an in-house professional accountant who can over see your work as part of their normal activities.

 

[NicoJ]

Try looking at it from their point of view. How would doing this help their business? At what cost?

As for advice, look for a job where there is an in-house professional accountant who can over see your work as part of their normal activities.

It would help them - they know that there is a qualified professional in the business preparing the accounts. It should, in theory, greatly reduce their work for the year end accounts potentially meaning a bigger return on their fee.

 

[Daybooks]

I would go back to ACCA and ask what they would recommend given the circumstances. For example the director signing off the annual accounts, presumably prepared by the external accountants, stating your involvement in that.

I wouldn’t necessarily think the external accountants’ reason for not doing so is as you suggest, as although you may not be in a position to do so, their lack of cooperation would tempt me to find alternative external accountants anyway; thus fulfilling any of their worries.

You cannot be the first in this position so hopefully your Body can be more supportive in finding a solution.
You mentioned you were an ”accounts assistant”; assisting whom?

Best of luck.

 

[ahr56]

Try looking at it from their point of view. How would doing this help their business? At what cost?

As for advice, look for a job where there is an in-house professional accountant who can over see your work as part of their normal activities.

Hey @Newchodge
Thanks for your input. I really don't want to change job as I really enjoy working where I currently work.

I have come across the ACCAs remote practical experience supervisor programme though. I've sent them a message.

It would help them - they know that there is a qualified professional in the business preparing the accounts. It should, in theory, greatly reduce their work for the year end accounts potentially meaning a bigger return on their fee.

I'm not sure I understand the logic of higher fees for less work, however it would give them the opportunity to sell more advisory work rather than compliance - isn't that the dream for all firms?

I would go back to ACCA and ask what they would recommend given the circumstances. For example the director signing off the annual accounts, presumably prepared by the external accountants, stating your involvement in that.

I wouldn’t necessarily think the external accountants’ reason for not doing so is as you suggest, as although you may not be in a position to do so, their lack of cooperation would tempt me to find alternative external accountants anyway; thus fulfilling any of their worries.

You cannot be the first in this position so hopefully your Body can be more supportive in finding a solution.
You mentioned you were an ”accounts assistant”; assisting whom?

Best of luck.

They (the external accountants) have said that they won't sign off my work as I don't work for them. Though I can certainly see how the accountants may not necessarily take their position for the reason I have given.

Hopefully the ACCAs remote practical experience supervisor programme can help.

 

[NicoJ]

Hey @Newchodge
Thanks for your input. I really don't want to change job as I really enjoy working where I currently work.

I have come across the ACCAs remote practical experience supervisor programme though. I've sent them a message.



I'm not sure I understand the logic of higher fees for less work, however it would give them the opportunity to sell more advisory work rather than compliance - isn't that the dream for all firms?



They (the external accountants) have said that they won't sign off my work as I don't work for them. Though I can certainly see how the accountants may not necessarily take their position for the reason I have given.

Hopefully the ACCAs remote practical experience supervisor programme can help.

I was answering Cyndys question of why they would do it but the fee doesn't change for the accountant - they are still providing the same service, but they won't have to check as many things if an experienced and qualified accountant is in-house. This means they will see a greater return on their fee. Advisory services vs complaince is a bit of a misnomer to be fair. Not every accoutant is the same so some relish the advisory, whilst others are happy with compliance. Nothing wrong with either.

I digress from the topic though - the accountant doesn't take the responsibility of signing off as I understand it. They assist your supervisor with the technical requirements essentially.

Hope you can sort it out one way or the other, good luck.

 

[MyAccountantOnline]

Good evening all,

I am an ACCA student and I work in a medium sized automotive dealer as an accounts assistant.
I am the only finance person employed by the business, though we have external accountants.

I can work through my ACCA exams myself and get my manager to sign off my practical experience requirement.

However, in order to complete the ACCA qualification I need to complete performance objectives, which need to be signed off by a qualified accountant who can oversee my work. The obvious choice would be the external accountants, though they have said they won't do it.
Honestly, I feel as though it's politics going on there - they wouldn't want me to qualify then take the work from them by bringing it all in house. I may be wrong, but gut feeling.

Anyway, I'm really struggling to find somebody who could sign off my performance requirements.
I have contacted the ACCA to ask if a previous manager (qualified accountant) can sign them off but they said no, as they don't oversee my current work.

I'm stuck. Any advice appreciated.
Thanks.

To be fair to the external accountant they may not actually feel able to do it. I wouldn't do it for someone who didn't work for me as I wouldn't be checking and monitoring the work they are doing.

The requirements are in place for a reason and it may be that you need to seek alternative employment to get what you need.

 

[Daybooks]

To be fair to the external accountant they may not actually feel able to do it. I wouldn't do it for someone who didn't work for me as I wouldn't be checking and monitoring the work they are doing.

The requirements are in place for a reason and it may be that you need to seek alternative employment to get what you need.

Seems drastic to have to change jobs. I had a look at the ACCA website where it suggest that if the line manager isn’t a qualified accountant then they can vouch for the experience but still needs a qualified to approve the quality of the objectives, if I understood it correctly. Obviously makes sense but would seem a shame if the external accountants wouldn’t work with the supervisor and be as supportive as possible. Am sure if the supervisor, especially if a director requested assistance from the external accountant they would want to assist. Acknowledge that they are not supervising, as that is the role of the supervisor, but verifying the quality of the objectives which they of course would be more qualified to express a view. Obviously would have been better to have agreed beforehand. Let’s hope a suitable solution is found!

 

[ahr56]

Update:

I have been in touch with the ACCA and the remote practical experience supervisor programme will be open to me after I complete all ACCA exams.
So there is a solution, but I need to finish ALL exams first, whereas usually the objectives would be signed off as you progress through the course. It's fine though

Thanks everybody, we've found a way through this ?

 

[macScot]

Good evening all,

I am an ACCA student and I work in a medium sized automotive dealer as an accounts assistant.
I am the only finance person employed by the business, though we have external accountants.

I can work through my ACCA exams myself and get my manager to sign off my practical experience requirement.

However, in order to complete the ACCA qualification I need to complete performance objectives, which need to be signed off by a qualified accountant who can oversee my work. The obvious choice would be the external accountants, though they have said they won't do it.
Honestly, I feel as though it's politics going on there - they wouldn't want me to qualify then take the work from them by bringing it all in house. I may be wrong, but gut feeling.

Anyway, I'm really struggling to find somebody who could sign off my performance requirements.
I have contacted the ACCA to ask if a previous manager (qualified accountant) can sign them off but they said no, as they don't oversee my current work.

I'm stuck. Any advice appreciated.
Thanks.

One option would be to volunteer to work for a local accountancy firm in exchange for their sign off e.g. as an apprentice working a few hours a day or on weekends etc.

If you intend to work at other companies in the near future then you could choose one that does have qualified accountants who can sign off.

 

[ahr56]

One option would be to volunteer to work for a local accountancy firm in exchange for their sign off e.g. as an apprentice working a few hours a day or on weekends etc.

If you intend to work at other companies in the near future then you could choose one that does have qualified accountants who can sign off.

I have an interview with an accounting firm on Monday

 

[ahr56]

Had my second interview on Wednesday (yesterday) and was told I'll hear back on Friday (tomorrow) ?

 

[ahr56]

Got the job! ?

 

[Newchodge]

Got the job! ?

Congratulations, that's wonderful. ?
?

 

[MyAccountantOnline]

Got the job! ?

Congratulations that's great news