Announcements

FASEA approves education credits for CPA and CAANZ coursework to attain a Professional Designation

Jul 18, 2019

MEDIA RELEASE

The Standards Authority has today approved applications for the recognition of coursework to attain a professional designation from the Certified Practicing Accountants (CPA) and Chartered Accountants Australia and New Zealand (CAANZ) as part of its education standards for financial advisers.

Advisers who have completed coursework to attain the CPA designation in or after 1989, offered by CPA Australia, have been awarded one credit recognition for prior learning (RPL).  In addition, advisers who completed specific financial planning electives as part of the study to attain the CPA designation have been awarded two credits for RPL.  The specific financial planning electives are detailed in the Approved Recognition of Prior learning List (link)

Advisers who have completed coursework to attain the Chartered Accountant designation in or after 1972, offered by CAANZ, have been awarded one credit for RPL.

“The awarding of credits for coursework to attain the CPA and CAANZ designations provides appropriate recognition to existing advisers who have undertaken these further studies,” FASEA Chief Executive Officer Stephen Glenfield said.

BACKGROUND

FASEA’s review of the programs follows an application from each of the professional associations. The approval is recognition of the course content and assessments advisers are required to undertake to successfully complete the program.

A maximum of two credits towards completion of higher education requirements can be awarded for an existing adviser who has completed one or more of the prescribed approved courses to attain a professional designation.  These credits are in addition to any credits available for completing other relevant studies.

For example, existing advisers with a relevant degree who have completed the coursework to attain the CPA designation (including the financial planning electives) will receive 4 credits for their relevant degree and 2 credits for their CPA coursework.  As a result, these advisers will only be required to complete the FASEA Ethics for Professional Advisers bridging course. 

FASEA is continuing to assess coursework to attain Professional Designation applications that have been received from Professional Associations.  The full list of approved recognition of prior learning courses can be found on the FASEA website (link).

The Financial Adviser Standards and Ethics Authority Limited was established in 2017 to set the education, training and ethical standards of financial advisers in Australia.

 

 

The Financial Adviser Standards and Ethics Authority Limited was established in 2017 to set the education, training and ethical standards of financial advisers in Australia.