The Financial Adviser Standards and Ethics Authority (FASEA) has awarded one credit point for advisers who have completed course work to attain the CPA designation in or after 1989 with those who had completed specific planning electives being awarded two credits for recognition of prior learning.
FASEA said it had 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),” it said. “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)
It said 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.
Commenting on the decision, FASEA chief executive, Stephen Glenfield said the awarding of credits for coursework to attain the CPA and CAANZ designations provided appropriate recognition to existing advisers who had undertaken the further studies.
Comments
this is a great job by fasea. i had always argued for 1 x credit which is what fasea has done.
personal taxation is the only relevant content in their programs and 2 for CPA's if they have done an elective in personal financial planning.
this heralds a new era for financial planning, as a separate specialty occupation not a subset of accounting as has been argued by the accountants.
we are one step closer today, to establishing our own domain with a specialty body of knowledge in personal financial planning
congratulations to my fellow professional colleagues
proud day for me as a committed financial planner. i look forward to the day when we are accepted as the noble fiduciary profession we really are, with public interest and best interest of the client at our core above all else.
Surely the FPA can also now get of their backsides and push for similar RPL for CFP designations attained during this same period.
CA is a Graduate Diploma but only gives one credit? CPA is not even recognised under the Australian Qualifications Framework but gives the same credit?!?
FASEA don't explain which subject at each higher education providerat that any of the RPL gives credit for!
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