The international gateway to your financial career through essential skills for business www.iab.org.uk President’s message
As President of the IAB, I am honoured to represent and training of both young people and adults information, continuous professional and be associated with this leading UK and globally, with members and students in more than development and a wide range of international professional and awarding body, 60 countries. financial and other benefits. offering a diverse range of financial and business qualifications. The IAB is increasingly being seen as the gateway I look forward to welcoming to a financial career, whether to become a qualified you to the IAB. Established in 1973, the IAB now has many thousands and Registered Bookkeeper, a Qualified Accounting Fabian Hamilton of students and members worldwide and enjoys strong Professional, or to enter careers in chartered Member of Parliament for links with the accountancy and payroll professions as accountancy or university. well as those representing owners of small businesses Leeds North East and education institutions. Educational institutions and students are assured since 1997 of the quality of IAB qualifications, knowing that The IAB, as a not for profit organisation sets out, these are accredited and regulated by Ofqual, the as the core of its mission: only official Regulator in England, and accepted by universities and chartered accountancy bodies. The to establish, promote and support high technical and IAB greatly values these hallmarks of recognition and professional standards in accounting, bookkeeping, quality as less than 10 per cent of UK professional and payroll, and financial and business management. awarding bodies have this status. As the leading professional body in its field in the UK, The IAB continues to represent and to support its the IAB is now adding significantly to the education membership, through providing up to date technical IAB qualifications – doing the job you need to do Student Success Story Emma Fone
After 14 years in the insurance industry Emma made the decision to change career. She found the answer in bookkeeping. It had long been her dream to run her What features make IAB qualifications special? own business and she thought bookkeeping would make the dream come true.
designed by practising, professional industry experts and based on After voluntary redundancy, Emma learned the basics UK National Occupational Standards by starting with the Level 1 Certificate in Bookkeeping course devised by the IAB. She studied via distance learning with Woodgrove Tutorials, a training provider provide technical skills needed by businesses and other organisations accredited by the IAB and run by award-winning principal Brian Harford. eligible for government funding in the UK In just three weeks, she completed the course.'Level 1 was accredited qualifications - regulated by Ofqual (the Office of fairly simple but it was the Qualifications and Examinations Regulator in England) a really good place to start. It gives you lots to think about, examinations which lead to qualification and membership of a professional covering calls for body, including the International Association of Accounting Professionals payment, invoicing and an introduction to VAT. (IAAP) and the International Association of Bookkeepers The IAB workbook is well laid out, logical and straightforward.' accepted for entry to, or partial exemption from, UK university programmes There’s not a huge amount of numeracy but for me it was about procedure, where to maintain records, how global recognition, with members and students in more than to record transactions. It’s not until you get to Level 2 60 countries that you start to really look at day books and enter into the world of double entry bookkeeping.' range of short as well as larger, ‘full’ or ‘competence’ qualifications, building In barely four months, she had applied to become an IAB Associate professional member (AIAB), achieving skills in bite-sized chunks the accolade in one of the fastest times recorded by a new entrant to bookkeeping. She has since gone onto successfully complete the IAB Level 3 bookkeeping qualification and has since upgraded her professional membership to Member grade (MIAB).
3 Opening doors to finance skills, professional qualification and University progression
• IAB Level 1 qualifications IAB qualifications provide a structured, flexible career progression, allowing you to develop the skills that you want and at your own pace. • IAB Level 2 qualifications Lindsay Geach – Lecturer Entry level depends on knowledge Lindsay has spent 20 years in finance, the and experience – join at the level and past four running her own business. Ten programme content years ago, she decided to pass on her considerable knowledge and expertise to • IAB Level 3 qualifications relevant to you. others.
The diagram illustrates possible She is an accountancy tutor at Truro and progression routes: Penwith College and lead accountancy tutor for Cornwall Adult Education (CAE), with centres in Bude, St Austell, • IAB Level 4 qualifications and IAAP Level 4 – 7 qualifications Liskeard and Newquay. Since 2009, CAE • Accountancy professional exams (ACCA, CIMA, CIPFA, ICAEW) has delivered IAB courses to some 400 • Certificate (CertHE) or Diploma of Higher Education (DipHE) students. • Bachelor degree or Foundation degree with a university Lindsay says her students are happy with • Payroll Professional exams (CIPP) the IAB as the examining body. 'It works for those of all ages who are considering bookkeeping as a career, contemplating a career change, or adding skills to their existing role. I have worked with someone from a bank for four years who found a new career in bookkeeping.'
'As a bookkeeper, you can normally get Visit www.iab.org.uk – for latest information on progression routes, including IAB work. If you’re good at your job, you’re arrangements with universities. always in demand. The challenge is when people are surprised at the amount of Visit www.accountingprofessional.org – for further information on studying they have to put in.' IAAP Level 4 – 7 qualifications
Once you have achieved IAB qualifications at Level 2 or above you can apply for membership of the IAB, gaining professional status and recognition plus support 4 for your Continuing Professional Development (CPD) The extensive range of IAB qualifications
Most of the IAB’s qualifications are assessed through The IAB has a broad range of IAB – Leading the way in a variety of methods, including IAB set but internally accredited and specific qualifications bookkeeping and payroll marked Knowledge Tests and Assignments and External Exams. covering accounting and bookkeeping The IAB has the largest range of qualifications in these essential aspects of business and, with the Many courses leading to IAB qualifications are for short (both manual and computerised) Sector Skills Body, has played a leading role in creating IAB Awards or IAB Certificates – which can be achieved and payroll. national bookkeeping and payroll qualifications and in as little as 3 months or less. apprenticeships. They have the major advantage of quickly providing The IAB is regularly adding to its technical knowledge and skills, needed to gain portfolio and seeks to support the skills employment, provide services to clients or progress to The IAB has a range of over the next level. needs of financial professionals and 20 qualifications in: owner-managers of enterprises. The IAB also has a range of larger, ‘Competence’ • Manual and Computerised bookkeeping – Levels 1 to 3 qualifications, many of which combine both manual and computerised knowledge and skills. • Financial Accounting and Cost and Management Accounting – Levels 3 and 4 In addition, many IAB qualifications are eligible for government funding in the UK, subject to contract • Computerised Payroll – Levels 1 to 3 arrangements between training providers and the funding bodies. • Computerised Accounting for Business – Levels 1 to 3 Visit www.iab.org.uk for the current list of IAB • Computerised Payroll for Business – Levels 1 to 3 qualifications, specifications/syllabi, fees.
Please see the enclosed qualifications table for further You can also be updated on new IAB qualifications information. resulting from collaborative arrangements with universities and other partners.
5 Join the International Association Student Success Story Sandra Silk of Bookkeepers Sandra Silk is a former IAB student who achieved several IAB manual and computerised bookkeeping and payroll qualifications. She set up her now thriving Bookkeeping The IAB has high ethical and professional standards. Membership grades and criteria business in Salisbury, Wiltshire. She explains how her IAB qualifications have helped her build her business. Being accepted into membership of the Association is There are three grades of professional membership; the ultimate confirmation to others of your technical Associate (AIAB), Member (MIAB) and Fellow (FIAB). 'The IAB qualifications gave me a thorough understanding capabilities and your commitment to continuous of bookkeeping and payroll through each level and the professional development. As a guide, IAB level 2 qualifications are required for exams were a good test of that knowledge.' Associate grade, level 3 qualifications (in bookkeeping/ Under the Money Laundering Regulations 2007, anyone accounting) for Member grade and also for Fellow grade, 'I took several of the IAB in the UK providing bookkeeping or other accountancy the latter also having additional experience requirements bookkeeping and payroll services to external clients must be registered with, and additional competence in computerised accounting/ qualifications, both and supervised by, either Her Majesty’s Revenue and bookkeeping. manual and computerised, Customs or an approved supervisory body (ASB). gaining knowledge which Prior achievement of comparable qualifications awarded I could apply in practice. The IAB is listed as an ASB within the Regulations, by other bodies is also acceptable. Achieving good results making it the natural home for all self-employed, To find out more details, visit: gave me the confidence bookkeeping practitioners. www.iab.org.uk/membership. and motivation, alongside or email [email protected]. my previous work Other valued membership experience, to start benefits include: working as a freelance bookkeeper.' an informative, printed newsletter and e-newsletter issued periodically 'In 2008 I was awarded the IAB’s Payroll Professional of the Year Award and in 2010 received the Bookkeeper of specifically arranged events for continuing the Year Award with one of my team achieving the Payroll professional development (CPD) Professional of the Year award.' on-line CPD courses at specially negotiated rates 'It was so rewarding to be recognised in this way both for Access to the members only area which includes myself and the business I have built. ' offers on outstanding financial savings and useful 'The IAB qualifications will set you on the right track to and informative documents including the members’ being a good bookkeeper and will provide the support you handbook. need once you have qualified.'
6 How to become an Kim Nilsson, MIAB AIAAP More than three years ago, Kim set up her own IAB Accredited Centre bookkeeping business. She is a professional member with the IAB and also registered as a Member in Practice, meaning she is supervised by the IAB under the Money Laundering Training providers interested in becoming an IAB Regulations 2007. Accredited Centre are required to complete an IAB accreditation application form. Kim is pleased with her decision to become IAB Accredited Centres are required to pay an a bookkeeper, saying accreditation fee each year, and discounts are offered for the role gives her more longer accreditation periods. influence than many business people realise. Accredited centres have access to a secure section of the IAB website, containing past exam papers, sample 'I can’t make assessment material, examination recommendations about reports, and other useful saving tax – that’s still resources for tutors. with an accountant – but I can see business trends, cash-flow issues and ratios. I look at that level of detail and give practical advice.'
'I’m very proud to have the letters MIAB after my name. They give you credibility and people recognize them. A client asked me if they needed to take out references. But they don’t. You can go to the IAB who will tell them I’m approved and that they have a copy of my practice licence that says I am certified and fully compliant.'
She adds: 'The IAB are very good at providing information. I trust the people that work there and their advice. They are pro-active and good at what they do. If you suggest something, they see if it’s worth doing. They are personable and approachable.'
'People make a difference and IAB people do make a difference, both the members and the staff. I would definitely recommend the IAB.'
Kim is delighted with the way her independent career has developed. 'Every business needs a bookkeeper,' she says, 'and I absolutely love doing it'.
7 The IAB’s 40th Anniversary
Celebrating four decades of No other not-for-profit These included: organisation can match success... its decades of expertise The 2013 Finance and Small Business Awards and Celebrating its 40th anniversary in 2013, the International and commitment gala dinner, celebrating the successes of a host of Association of Bookkeepers is one of the most globally to the bookkeeping highly accomplished IAB members and industry respected bookkeeping organisations in the world. A not- profession. To mark the 40th anniversary year, a series professionals. for-profit association with thousands of members across of events were held in June to honour the top IAB more than 60 countries, it promotes the professional accredited centres as well as some of the world’s best The achievements of top IAB Centres were celebrated integrity of bookkeepers and helps develop financial business talent at prestigious awards ceremonies and at the House of Commons at a reception hosted by skills across the globe. conferences in central London. IAB President, Fabian Hamilton. They were recognised for their qualification achievements, high standards and longstanding commitment. Alongside the UK Centres, Top International Centres were also honoured.
The IAB’s annual one day conference featured presentations from The Pensions Regulator, HMRC amongst others on topics including RTI, pension auto- enrolment and marketing your business/practice.
An International Development Meeting was attended by guests from around the world including Russia, Iraq and Azerbaijan. The seminar and workshop focussed on the development of the IAB and International Association of Accounting Professionals (IAAP.)
Left IAB Finance & Small Business Award winners 2013.
Right Guests at the 40th anniversary Finance & Small Business awards.
To find out more please visit the Finance & Small Business Awards site: http://www.iabawards.org/.
8 9 Teaching and learning resources West Herts College Brian Harford, Woodgrove Tutorials For over a decade, West Herts College has been offering a variety of courses in Accountancy and The IAB works closely with publishers and other Bookkeeping. professionals to make available text books, study packs and online resources. Courses run both daytime and evening at it’s state of the art main campus in Watford and in Dacorum. The current list of available IAB resources can be viewed at: The College has previously been awarded the accolade of Top Centre by the IAB for outstanding Level 3 www.iab.org.uk/studytexts Diploma exam results. or: West Herts College’s primary aim is to transform lives through learning and the many success stories of www.iab.org.uk/shop it’s former IAB students are a source of great pride. Whatever their current career, West Herts College has Brian Harford FCCA FIAB set up Woodgrove Tutorials the facilities and flexibility to help students achieve an in 1999. His business is fully accredited by the IAB and IAB qualification. he won awards for the quality of its teaching. He was named Tutor of the Year at a ceremony in the House of Commons for his outstanding contribution in assisting IAB students become fully qualified bookkeepers.
'If you take the IAB courses a step at a time and get through, the benefits can be phenomenal.'
'You can be master of your own destiny in terms of having your own business, growing it and providing first-rate services to small businesses in your area.'
'The most important thing about IAB is that their qualifications are accredited by Ofqual, the government Regulator in England and included in the Qualifications and Credit Framework (QCF). The IAB qualifications therefore have the hallmark of accreditation.'
'Bookkeepers have been around since 1494 when Italian Luca Pacioli, a Franciscan Monk, invented double entry bookkeeping and it will be needed for centuries to come.'
Brian is upbeat about the future of bookkeepers. 'They’ll be around for ever because, as a minimum, every small business has to have their books done as the basis for their self-assessment for tax.'
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The IAB has taken all reasonable care to ensure the accuracy of the content of this brochure as at the stated date of publication. The IAB is unable to accept any responsibility for any damages that may arise out of reliance on information or statements made in this brochure and encourages those seeking to so rely, to confirm with the IAB the current accuracy and relevant application.