Accountancy students at KIMEP University in Kazakhstan will be given an exemption to part of the coveted ACCA (Association of Chartered Certified Accountants) qualification after the university became the first in the country to secure accreditation from the global accountancy body.
KIMEP students studying the Bachelor in Accounting and Audit and Bachelor of Science in Business Administration and Accounting will have exemption to the ACCA F6 paper on Principles of Taxation. In practice, this means KIMEP students will be exempt from sitting the F6 paper should they decide to complete the ACCA global accountancy qualification.
Altyn Shakirkhanova, ACCA Market Head in Kazakhstan, said: 'This is a positive step for KIMEP and ACCA. The majority of ACCA students come from KIMEP, a leading university in Kazakhstan specializing in degree in finance, accounting and economy, with some 75-80 per cent of ACCA students having graduated from there, so it is not surprising that elements of the degree programmes there are aligned with the ACCA qualification. It is encouraging for the students themselves to know that they are on the first step towards securing the ACCA qualification.'
The F6 exemption will cover students on the Accounting and Audit degree at KIMEP studying from 1 January 2016 to 31 December 2020, while those studying the Business Administration and Accounting programme from 1 January 2014 and 31 December 2017 will also secure the exemption.
Dr. Chan Young Bang, President of KIMEP University, commented: 'This is a significant recognition of the quality of KIMEP University’s Accounting and Audit program, as well as the confidence that ACCA has in the program’s graduates. It is a significant milestone on the path to attaining all nine possible exemptions. Moreover, this exemption is vital for the training of the qualified accounting professionals essential for Almaty’s status as an international business centre.'
Dr. Tomas Balco, LL.M., FCCA, Director of Central Asian Tax Research Center at KIMEP and a member of ACCA’s Global Forum of Taxation said: 'KIMEP has been seriously addressing the importance of aligning the academic program with requirements of professional qualifications. As a result I am pleased to say that KIMEP graduates can currently obtain exemptions from up to 5 ACCA exams. This is very important, since such graduates become more attractive on the job market, where the ACCA qualification is required. They can complete the ACCA exams much faster than their peers from other Universities and can then focus fully on their professional a careers and private life, rather falling asleep and waking up feeling the stress of passing or failing the next ACCA exam.'
The business community in Kazakhstan appreciates the importance of the ACCA qualification and a young professional will not be promoted to a Manager level, unless he obtains full ACCA qualification.
KIMEP University now continues the efforts of accrediting additional courses and assuring up to 9 exemptions for our students and also additional preparatory courses, so they can graduate from KIMEP with full ACCA qualification either from the existing Bachelor program or from a newly established specialized Master’s program in accounting, which will be launched in September.
KIMEP underwent vigorous assessment of its degrees by ACCA to secure the F6 exemption. Students of Tax in Kazakhstan and Tax Law of the RK will secure the exemption.
The ACCA Qualification has been officially benchmarked as being equivalent to the UK Master’s degree, one which requires four years’ study.