Read the article from InTheBlack below and answer the questions below.    

New pathways to business success

As you may know, our 2009–2011 corporate plan established the importance of having a globally competitive CPA Program and broadened entry pathways. With this in mind, CPA Australia has for a long while now been working on making the CPA Program more focused and competitive and appropriately opening up entry routes to becoming a CPA Australia member. Last month CPA Australia celebrated the launch of the new entry pathways to the CPA designation along with the revised CPA Program. These changes will create more opportunities for potential members to attain the CPA Australia designation and become part of one of the world’s largest accounting bodies.

The revised CPA Program syllabus addresses the needs of employers and will provide candidates with a highly valued and global designation. The program is a rigorous education and experience program. It consists of 14 subjects along with integrated workplace learning. CPA Australia has maintained the same high standards of competence that have always been required to achieve the CPA designation.

The new pathways to membership will welcome people who want a career built on professional accounting skills — in Australia and around the globe — and who have the desire, appropriate level of competence, and the professionalism and integrity to carry the CPA Australia designation. In addition to recognising the prior learning and experience that potential members bring, we are providing more options for graduates from other disciplines and for candidates with gaps in their core knowledge to work towards becoming a CPA. This means that more aspiring business leaders will now be able to become members of our professional body. It is important, however, to note that to attain CPA status candidates must complete the Professional Level within six years of starting the CPA program and hold an eligible degree or higher education award.

The changes will enable us to become more relevant globally while retaining the highest professional standards and the quality of the CPA designation. And, importantly, they take us a step forward in the aim of realising our organisational vision: for CPA Australia to be the global professional accountancy designation for strategic business leaders.

Against the backdrop of an increasingly competitive global marketplace we must work harder and smarter than ever to realise this vision. The new entry pathways are vital to ensuring that the CPA Australia designation continues to be recognised by key stakeholders as a valuable asset.

Source: Petty, R 2009, ‘New Pathways to Business Success’, InTheBlack, August, p. 7.

Required:
A.    Compare the entry requirements to become a full member of CPA Australia, Institute of Chartered Accountants in Australia and the Institute of Public Accountants. Identify the commonalities and differences.

B. Discuss why the professional accounting bodies would have different entry requirements.

C. Identify what qualifications are required to:

1. Be a company auditor;

2. Be a public accountant;

3. Be a financial advisor; and

4. Prepare tax returns.