Q&A: Audit qualifications for the UK market

I would like your help in deciding about which qualification is more suitable for me in the UK job market. I am based in Pakistan and shall be moving to the UK with a valid work permit. I have about 8 years of work experience within areas of accounting, auditing (Big 4), and corporate finance. Currently I am working more or less as a Financial Controller in an organisation in Pakistan. I would like to know if it’s better to do ACCA or PIIA/ MIIA. I am interested in working within areas of internal auditing, risk & compliance.

With your extensive experience within the accountancy profession, it may be advisable to keep your options broader at the outset of your UK career.  Bear in mind that you’ve not yet experienced working in the current UK market and you will be new to a career in internal audit.  Both are untried areas for you and there is no guarantee that either will fulfill all your career aspirations in the medium or longer term.  

Instead, first consider your existing qualifications and find out what will be recognized in the UK.  This will also very relevant regarding exemptions from any UK qualification you eventually decide to pursue. 

Your existing qualifications may well be enough to get you started in the UK, experience the market and give you a base on which to build a more strategic career plan. 

 And you do need to consider your career aims.  Where do you want to be in 5, 10, 20 years time?  Where do you see your career taking you to?  Whether you’re considering settling in the UK or working in other locations will determine the need to consider a global qualification.  What sort of organisation do you want to work for?  And more imminently, what are your short term earning needs?  How do these map across to the individual qualifications and their career paths?   What do the qualifications cost and how long is the study period?  What type of studying methods and study/work mix are available and how do these reconcile with your preferred style.   How portable is the study package from job to job? 

 You are already considering two qualifications, and I would use these as the start point of your research.  Clearly, the ACCA is a global qualification and this may be important to your longer term career plans.  The PIIA and MIIA, diploma’s of the Institute of Internal Auditors of UK and Ireland are more specialised, and of course, very relevant to the UK market.  But there are also many other qualifications what could be appropriate for you, including CIMA for example.

 So take some time to consider your short and long term career aims.  Talk to the student advisors at a variety of different professional organisations. Consider your existing qualifications.  And use the questions above to help you make a fully informed decision that will best equip you to reach your aspirations. 

 

 

Comments

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thanks for the information.. i was also facing the same dilemma.