IFA exemptions from ICB qualification - The Book-keepers Forum (UK)

Lyndsey · Senior Member

IFA exemptions from ICB qualification

kimbo210 · Newbie

Wow Lyndsey! I just registered to ask this question!!!! You posted just after I registered!

Id like to know this also, I have just began the ICB qualification but am qualified by experience. It's a bit of a mind-field out there with what to do with after ICB in order to expand your business/career!

Thanks.

Lyndsey · Senior Member

Hi I'm just going to "nudge" this in case there is someone out there who knows the answer! :D

ICBUK · Guru

Hi Lyndsey,

I would be surprised if they didn't accept you if you had Level 3, possibly Level 4 helping you, seeing as it would look like a change from ICB - ACCA with ICB - IFA becoming more popular.

It is going to be interesting seeing the ACCA vs IFA in the future I think, what are the pros and cons of each route.

ICBUK · Guru

Hi

I should say contact the IFA for an actual answer, but I know a few ICB Full Members who have been offered IFA membership on what would seem just purely based on being a ICB Member.

Don Tax · Expert

Me three. I'd like to do the payroll and tax exams although I may look to go down the IPP career progression afterwards.

Anderson Accountancy · Veteran Member

Hi Lyndsey,

I hold full Associate membership with the IFA and the ICB qualification did not help one bit. My membership of the ICB didn't help obtain my membership with the IFA and as far as I know, they do not provide any exemptions. I would suggest contacting IFA directly to confirm this.

ICBUK · Guru

Hello,

Sorry should have said if you have completed Level 3 you should get some exemptions. Level 4 will also help, but compare which is easier, getting IFA to that level, or sticking with ICB for longer then moving over.

Anderson Accountancy · Veteran Member

I'm sorry James, but having just checked the IFA web site, they DO NOT state anywhere that an ICB qualification gives you any exemption from the IFA - please check your facts BEFORE you post on here and provide false or inaccurate information.

kjmcculloch83 · Expert

Well, I just phoned the IFA, they won't even discuss any exemptions. They want an application form, copies of certificates and £72 then they'll decide.

Interesting....

Kris

Hal · Veteran Member

When I applied I had to do likewise i.e. send in certificates including ICAEW ones, details of experience and the fee etc.

So I find it slightly incongruous that James would state that you could get IFA membership purely by being a member of the ICB.

No disrespect intended to the ICB and my comments are only in relation to this topic.

Hal AFA FFTA

kjmcculloch83 · Expert

To be honest I have no interest in being involved with an organisation who wants money before giving some very simple answers. ICB are stuck with me.

Kris

Hal · Veteran Member

It is unfortunately a pretty standard response from most professional organisations and not just limited to this sector as well.

The exemption fee often seems to be as much as it would cost to sit the exam.

Hal AFA FFTA

ICBUK · Guru

Hello,

As far as I can see they do not mention any exemptions at all, but I assume they must give some.

My post said I would be surprised if they did not, and that I know of ICB members who it would appear that they were offered membership based on their ICB Full Member status, as they said they had not done any further study since ICB.

I did also say to check with the IFA for confirmation.

I would be surprised as the IFA seem to me to be aiming at the ACCA 'maybes' and that the ACCA give some exemptions from ICB qualifications it would be odd for the IFA not to follow.