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All the accounting bodies have grandfathered arrangements from many, many, years ago. the CPA, IPA and CA all have older members that only had diplomas. You are going back many, many, many years. To be a full member of the IPA with FIPA status you are required (and have been required for along time) to obtain a masters in addition to your degree. You are going back a long time. There are even practicing solicitors who have diplomas of law from the old SAB course. Even a NSW supreme court judge that only has his SAB diploma. That being said, these were "grandfathered arrangements" from a long, long time ago, Those members are probably mush older and represent no more than ten percent of the profession. I spoke to CA Australia and they estimate that less than ten percent of practicing accountants have diplomas and state any accountants from the modern era must obtain at least a degree, preferably higher to be a "full" member. Only full members of the three accounting bodies are legally recognised as accountants. Therefore for many years legally recognised accountants must have at least a degree or they are not legally recoginsed as accountants.