Professional Recognition of Programs
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The degree programs offered by the Australian School of Business are recognised by professional organisations in accordance with the details set out below:
Australian Securities and Investment Commission (ASIC)
CPA Australia
Institute of Chartered Accountants in Australia (ICAA)
Institute of Public Accountants (IPA)
The Financial Services Institute of Australasia (FINSIA)
The Institute of Actuaries of Australia
Australian Marketing Institute (AMI)
The CPM qualification is beneficial as it defines excellence in the marketing profession, advances your knowledge with continued professional development and networking, and promotes the profession of marketing by recognising only qualified marketing practitioners. The Master of Marketing fulfils the educational requirements for the CPM qualification.
Australian Securities and Investment Commission (ASIC)
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- Financial Planning
- General insurance
- Generic Knowledge
- Life Insurance
- Managed Investments
- Securities
- Skills
- Superannuation
- FINS5510 Per. Fin. Plan. & Mgmt (Personal Financial Planning and Management UOC)
- FINS5512 Financial Markets&Institutions (Financial Markets and Institutions UOC)
- FINS5513 Investments & Portfolio Sel. (Investments and Portfolio Selection UOC)
- FINS5537 Financial Planning Advice (Financial Planning Advice and Ethics UOC)
Further information on becoming a CFP professional can be found on FPA website www.fpa.asn.au
Graduates who complete the Master of Professional Accounting or the Master of Professional Accounting (Extension) may be eligible for associate membership of CPA Australia. Although the programs cover all the required knowledge areas, CPA Australia assesses every applicant for membership requirements, which include a rule that each applicant must hold a degree which is considered comparable by the National Office of Overseas Skills Recognition (NOOSR) to an Australian Bachelor's degree. If requested, CPA Australia will provide an assessment of an overseas qualification.
Students seeking professional recognition may confirm membership requirements with CPA Australia.
Institute of Chartered Accountants in Australia (ICAA)
Graduates who complete the Master of Professional Accounting or the Master of Professional Accounting (Extension) are eligible to enter the Chartered Accountants Program. For further information see www.charteredaccountants.com.au.
Institute of Public Accountants (IPA)
The Financial Services Institute of Australasia (FINSIA)
Also, Business graduates can apply for advanced standing if they chose to do FINSIA education programs (eg. Postgraduate/Diploma/Certificate).
Students are encouraged to seek further information from the FINSIA website www.finsia.com
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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 along with a 3 year Practical Experience Requirement (PER) and completing of The Professionalism Course. 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 and the Professionalism Course.
Part I is covered by the relevant subjects in the Master of Actuarial Studies.
For Part II there are two parts: Part IIA: the Actuarial Control Cycle, and Part IIB: Investment and Asset Modelling. Part II may be studied in the Master of Actuarial Studies for students meeting the entry requirements. Part II is made up of a there courses over a full year of study and covers actuarial principles and actuarial practice along with an Asset Modelling course.
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. UNSW has applied for recognition of its relevant Risk Management courses for CERA qualification.
Entry Requirements
Part I
Students can complete the Part I courses as part of their university program. Success at gaining the exemptions requires above average grades (65% and above). Those aiming to enter the actuarial profession should normally expect to gain most of the exemptions and should be aiming to obtain at least an average 70% mark in their University studies.
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 only 1 or 2 Part I courses to complete.
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 at www.actuaries.asn.au