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Professional Recognition of Programs

For Undergraduate Students

commerce students

The degree programs offered by the Australian School of Business at the University of New South Wales are recognised by the following professional organisations in accordance with the details set out below.

Australian Computer Society (ACS)

The following qualifications in Information Systems have been accredited by Australian Computer Society (ACS) for its provisional membership at the Professional Level.
  • Bachelor of Commerce (majoring in Information Systems) including Honours and combined degrees
  • Bachelor of Commerce (Co-op), ISM scholarship (previously Bachelor of Commerce (Information Systems and Management))
  • Bachelor of Information Systems including honours and double degrees (previously Bachelor of Science (Information Systems)
  • Bachelor of Information Systems (Co-op), BIT scholarship (previously Bachelor of Science (Business Information Technology))
Bachelor of Commerce (majoring in Information Systems)
The basis of accreditation is satisfactory completion of the following core courses:
Plus:
  • Satisfactory completion of at least another 24 UOC in Level 2 or 3 courses in Information Systems with a minimum of 12 UOC at Level 3

  • Satisfying the full requirements for completion of the program


    • Bachelor of Commerce Co-op, ISM scholarship (previously Bachelor of Commerce (Information Systems and Management))
    The basis of accreditation is satisfactory completion of the following core courses:
    Plus:
  • Satisfactory completion of at least another 12 UOC in Information Systems courses at Honours level.

  • Satisfactory completion of at least another 18 UOC in Level 3 or 4 courses in Information Systems.

  • Satisfying the full requirements for completion of the program.


    • Bachelor of Information Systems
    The basis of accreditation is satisfactory completion of the following core courses:
    Plus:
  • Satisfactory completion of at least another 12 UOC in Information Systems with a minimum of 6 UOC at Level 3

  • Satisfying the full requirements for completion of the program.


    • Bachelor of Information Systems (Co-op), BIT scholarship (previously Bachelor of Information Systems (Business Information Technology))
    The basis of accreditation is satisfactory completion of the following core courses:
    Plus:
  • Satisfactory completion of at least another 12 UOC in Information Systems with a minimum of 6 UOC at Level 3

  • Satisfactory completion of at least another 42 UOC in Information Systems courses with a minimum of 6 UOC at Honours level.

  • Satisfying the full requirements for completion of the program.


    • Further information on membership grades and membership benefits can be found on the ACS website www.acs.org.au

    Australian Human Resource Institute (AHRI)

    The following qualifications in Human Resource Management have been accredited by the National Accreditation Committee (NAC) of the Australian Human Resources Institute for its membership program.
    • Bachelor of Commerce major in Human Resources Management
    • Bachelor of Economics major in Human Resources Management
    • Combined Business programs major in Human Resources Management
    Accreditation is granted for a period of three years. Further information on membership and membership benefits can be found on AHRI website www.ahri.com.au.

    Australian Securities and Investment Commission (ASIC)

    The Bachelor of Commerce (Finance) program has been approved by the Australian Securities and investment Commission (ASIC) authorised assessors as meeting ASIC’s training requirements in relation to RG146 Tier 1 qualification in the following specialist knowledge areas:

  • Financial Planning

  • General insurance

  • Generic Knowledge

  • Life Insurance

  • Managed Investments

  • Securities

  • Skills

  • Superannuation


    • For ASIC compliance against the stated specialist knowledge areas, students must complete the following courses:
    building
    Accreditation of FINS courses with ASIC (RG146) and the Financial Planning Association will further assist graduates to find employment and begin the path to achieving Certified Financial Planner (CFP) status.

    Further information on becoming a CFP professional can be found on FPA website www.fpa.asn.au

    CPA Australia

    CPA Australia has accepted UNSW as an approved tertiary institution for the purpose of its membership qualifications. Associate membership of CPA Australia requires the minimum qualification of an accredited undergraduate degree with a major in accounting, and completion of accredited courses in accounting, finance and business areas to satisfy the minimum core knowledge (see below).

    If you are unable to fit these courses in as part of your degree requirements, you may wish to enrol in additional classes as non-award.

    Students are advised to confirm academic entry requirements for the CPA Program with CPA Australia at www.cpaaustralia.com.au

    Required Courses

    Notes
    1. MATH1151 Mathematics for Actuarial Studies and Finance 1A may be substituted for ECON1203
    2. The Honours equivalents of ACCT3563, ACCT3583 and ACCT3708 may be substituted, namely: ACCT3573, ACCT3593 and ACCT3718.
    3. It is no longer mandatory to include ACCT3708 (or ACCT3718) and LEGT2751 but it is desirable to do so. Otherwise Auditing and Taxation must be completed in the CPA Program.
    4. From 2010 LEGT1710 Business and the Law replaces both LEGT1711 Legal Environment of Commerce and LEGT2721 Business Transactions.

    Students undertaking the combined Bachelor of Commerce/Bachelor of Laws programs
    Students undertaking the combined Bachelor of Commerce/Bachelor of Laws programs should substitute the following six courses for the three LEGT courses listed above.
    In addition, CPA requires a further completion of ONE of the following three courses:

    Notes
    1. Prior to 2010 LAWS2052 Advanced Revenue Law was required rather than LAWS 3058 Business Entity Taxation.

    Financial Services Institute of Australasia (FINSIA)

    Business graduates may be eligible for associate membership with FINSIA. While an Economics/Commerce degree is not specifically required for membership, such a degree would facilitate employment in the financial services industry, which is a primary requirement for admission to membership.

    Students are encouraged to seek further information from the FINSIA website

    Institute of Public Accountants (IPA)

    The Institute of Public Accountants (IPA) has approved UNSW for the purpose of its membership qualifications.

    Associate membership of IPA may be obtained with the qualification of an accredited undergraduate degree with a major in accounting, and completion of courses in accounting, finance and business areas to satisfy the minimum core knowledge (see below). IPA does not have a list of individual courses for completion at particular institutions. The body prefers to assess individual programs with reference to the educational standards of the International Federation of Accountants (IFAC). However, if students complete the courses listed below, they should meet the IFAC standards.

    Notes
    1. MATH1151 Mathematics for Actuarial Studies and Finance 1A may be substituted for ECON1203
    2. The Honours equivalents of ACCT3563, ACCT3583 and ACCT3708 may be substituted, namely: ACCT3573, ACCT3593 and ACCT3718.
    3. From 2010 LEGT1710 Business and the Law replaces both LEGT1711 Legal Environment of Commerce and LEGT2721 Business Transactions.

    Students undertaking the combined Bachelor of Commerce/Bachelor of Laws programs
    Students undertaking the combined Bachelor of Commerce/Bachelor of Laws programs should substitute the following six courses for the three LEGT courses listed above.
    In addition, students should complete ONE of the following three courses:

    Notes
    1. Prior to 2010 LAWS2052 Advanced Revenue Law was required rather than LAWS 3058 Business Entity Taxation.

    The Institute of Actuaries of Australia

    The UNSW actuarial program is fully accredited by the Institute of Actuaries of Australia and recognised for exemptions by the Institute of Actuaries (London) for the Core Technical subjects. To qualify as an actuary in Australia requires the completion of, or exemption from, subjects in the professional syllabus of the Institute of Actuaries of Australia.

    Qualification as an Associate of the Institute of Actuaries of Australia (AIAA) is attained on completion of the courses in Parts I and II. Qualification as a Fellow of the Institute of Actuaries of Australia (FIAA) requires the completion of subjects in Parts I, II and III of the professional actuarial examinations.
    Part I is covered by the relevant subjects in the actuarial disciplinary stream within the Bachelor of Commerce.
    Part II is studied in an honours year or 4th year of a combined degree program or after graduating and is made up of a full year subject which covers actuarial principles and actuarial practice.
    Part III consists of modules completed by distance education through The Institute of Actuaries of Australia usually on a part-time basis after completing the Part I and Part II subjects.
    The following courses at UNSW correspond to the Part I and Part II subjects of the IAAust professional examinations:
     UNSW Course  Professional Subject
     ACTL2002  
    		  CT3 Probability and Mathematical Statistics
     ACTL2001  CT1 Financial Mathematics
     ACTL2003  CT4 and CT6 (half each)
     ACTL3001  CT4 Models
     ACTL3002  CT5 Contingencies
     ACTL3003  CT6 Statistical Models
     CT7 Economics
     CT2 Finance and Financial Reporting
     ACTL3004  CT8 Financial Economics
     ACTL4001  Part II
     ACTL4002  Part II
     ACTL4304  Part II

    students
    Entry Requirements

    Part I
    Students intending to enter the actuarial profession should normally have completed 4-unit mathematics or obtained a high mark in 3-unit mathematics and should be aiming to obtain at least an average 70% mark in their University studies. Experience has shown that the higher your UAI or equivalent, the better your chances of success in meeting the standard for exemption from the professional actuarial examinations (95 and above is recommended).

    It is recommended that students who intend to complete all of the Part I professional actuarial subjects enrol in MATH1151 Mathematics for Actuarial Studies and Finance 1A and MATH1251 Mathematics for Actuarial Studies and Finance 1B in Year 1.

    For students completing a combined BSc/ BCom degree, MATH2801 Theory of Statistics and MATH2831 Linear Models may also satisfy exemption requirements for Subject 101.

    Part II
    The requirements are:
  • completed all Part I courses with exemptions or

  • have a minimum average mark in the ACTL courses of 70% and 3 months relevant work experience and normally only 1 or 2 Part I courses to complete


    • Other Professional Recognition
    The Faculty of Actuaries and the Institute of Actuaries in the UK offer exemptions from the equivalent subjects in their syllabus if students have obtained exemption through the Institute of Actuaries of Australia. This covers only Part I subjects. However, Fellows of the Institute of Actuaries of Australia can obtain Fellowship of the Institute of Actuaries (London) if they wish to practice in the UK or Europe.

    Students who have completed an actuarial studies major and obtained exemptions from the Part I subjects of the Institute of Actuaries of Australia can apply for waivers of some of the examinations of the Society of Actuaries (North America), under VEE credit. Fellows of the Institute of Actuaries of Australia can apply for admission as an Associate of the Society of Actuaries if they wish to practise in North America.

    Fellowship of the Institute of Actuaries of Australia (FIAA) is recognised by local actuarial societies in Hong Kong, Singapore, Malaysia, New Zealand and Japan. The actuarial societies in Hong Kong, Singapore and Malaysia do not conduct their own examinations. For more information, please go to Institute's website www.actuaries.asn.au

    The Institute of Chartered Accountants in Australia (ICAA)

    Graduates who have completed an accredited undergraduate degree with a major in accounting are eligible under the Institute's admission requirements to enter the ‘Chartered Accountants Program’ leading to membership, provided they have completed accredited courses in the core knowledge of Financial Accounting, Taxation, Finance, Commercial and Corporations Law, Audit and Assurance, and Management Accounting (see below).

    If you are unable to fit these courses in as part of your degree requirements, you may wish to enrol in additional classes as non-award.

    Graduates are advised to confirm academic entry requirements for the ‘Chartered Accountants Program’ with ICAA at www.charteredaccountants.com.au

    Core courses to meet undergraduate requirements
    Required courses
    *The Honours equivalent courses ACCT3573 and ACCT3718 may be substituted for ACCT3563 and ACCT3708 respectively.

    * It is no longer mandatory to include ACCT3583, ECON1101, ECON1102, ECON1202, ECON1203 and INFS1602 but it is desirable

    Students undertaking the combined Bachelor of Commerce/Bachelor of Laws programs

    Students undertaking the combined Bachelor of Commerce/Bachelor of Laws programs should substitute the following six courses for the three LEGT courses listed above.

    Undergraduate Information

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    © The University of New South Wales (CRICOS Provider No.: 00098G), 2004-2011. The information contained in this Handbook is indicative only. While every effort is made to keep this information up-to-date, the University reserves the right to discontinue or vary arrangements, programs and courses at any time without notice and at its discretion. While the University will try to avoid or minimise any inconvenience, changes may also be made to programs, courses and staff after enrolment. The University may also set limits on the number of students in a course.