Overview:
The ACCA qualification is a powerful stepping stone for making a career in accounting and finance in Maldives. Many financial professionals in the Maldives aim for ACCA membership. A globally recognized certification that opens doors to rewarding opportunities in both local and international markets. But how long does it take to get an ACCA membership in the Maldives?
In this article, we will walk through the timeline, requirements, and benefits of becoming an ACCA member in the Maldives.
What is ACCA Membership?
The Association of Chartered Certified Accountants (ACCA) is a leading global body for professional accountants all over the world. Achieving this membership means that you have met a set of educational, practical, and ethical standards that qualify you as a globally competent accountant.
ACCA membership is not just about passing exams. It is the combination of academic achievements, ethical understanding and professional experience. Once achieved, it will present you as a hardworking individual who has mastered ACCA professional qualification and is committed to continuous professional development ( ACCA CPD).
ACCA Membership Requirements
To get an ACCA membership, candidates must fulfill the following requirements.
Complete the ACCA Qualification
ACCA qualification includes three levels.
- Applied knowledge (3 papers)
- Applied skills (6 papers)
- Strategic professionals (4 pacers)
Most students can take a maximum of four exams per session, with four sessions per year (March, June, September, and December).
Ethics and Professional Skills Module (EPSM)
This online module helps in developing the ethical judgment and communication skills essential for real-world accounting scenarios. This module must be completed before applying for this.
Practical Experience Requirement (PER)
For practical experience requirements, you must complete:
☑️36 months of relevant work experience.
☑️Demonstrate performance in 9 performance objectives, verified by a workplace mentor.
Membership Application
Once the above are completed, you can apply for ACCA membership online. The approval for this is typically takes 4 to 6 weeks if all documentation is in order.
ACCA Membership Timeline in the Maldives
The journey toward ACCA certification in the Maldives depends on several factors, including your study schedule, availability of exams, and your professional experience. Here’s a breakdown:
Exam Duration
Most full-time students take 3 to 4 years to complete the exams. Part-time students or those studying while working may take 4 to 6 years.
Practical Experience
You can begin working toward your practical experience requirement PER during or after your exams. If you already work in a relevant accounting role, you might complete this requirement alongside your studies.
Overall Duration
Taking all elements into account, the typical ACCA membership duration in the Maldives is:
Minimum: 3 years (for full-time students with a relevant job)
Average: 4 to 5 years
Maximum: There is no strict time limit, but prolonged gaps in exams or work experience can delay the process.
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Positives of having an ACCA membership
Achieving ACCA membership comes with numerous professional and personal advantages as well.
Diverse Career
Companies in Maldives are expanding especially those in finance, tourism and government sectors. These companies value ACCA in Maldives professionals for their international standards and ethical grounding.
Professional Development
As an ACCA member, you are required to complete ACCA continuous professional development (CPD) annually, and in this way, your skills remain current. Moreover, it will also develop your ethical skills, problem-solving, and decision-making skills.
High Earning Potential
Compared to non-certified professionals, ACCA members typically enjoy the better pay packages. Moreover, faster career progression and career success is possible with ACCA membership.
Global Network Access
ACCA membership in the Maldives allows you to access a wide range of professional networks by affiliating yourself with ACCA resources, job boards, and continuous ACCA online learning platforms.
Worldwide Recognition
With over 240,000 members worldwide, the ACCA certification is recognized globally in over 180 countries, giving you a pathway to the global job market.
Conclusion
Achieving an ACCA membership in the Maldives is a commitment that offers an outstanding return. With a flexible timeline, global recognition, and valuable career benefits, the ACCA professional qualification is ideal for aspiring finance leaders. So, if you are still questioning how to get an ACCA membership in the Maldives, the answer is with dedication, planning, and the right support. And remember, the journey to ACCA certification is not just about the exams; it’s about becoming part of the global standard of excellence in accounting.
Frequently Asked Questions
Can I work and study ACCA at the same time?
Absolutely yes. Many students in the Maldives balance work and study, which helps them simultaneously fulfill PER requirements.
Is expert guidance needed for ACCA membership?
Yes, you will need expert guidance for ACCA membership, as they will guide you throughout the journey. Their guidance will help me achieve success.
How much does it cost to become an ACCA member in the Maldives?
The total expense needs exam fee includes exam fees, registration, and annual subscription fees. Tuition fees vary depending on the provider. On average, it may cost MVR 50,000–100,000 throughout the entire ACCA membership process.
Difference between ACCA membership and certification?
ACCA membership is referred to as the official chartered accountant recognized by the professional body, while certification refers to the ACCA qualification.
