Faculty of Economics and Commerce : Guide to courses
17. Membership of professional bodies

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17. Membership of professional bodies
    17.1. CPA Australia
    17.2. Institute of Chartered Accountants in Australia
    17.3. Institute of Chartered Secretaries and Administrators
    17.4. Australian Institute of Banking and Finance
    17.5. Institute of Actuaries of Australia

17. Membership of professional bodies

17.1. CPA Australia

Individuals who hold the Bachelor of Commerce degree with a three-year sequence in accounting and finance may apply for associate membership of CPA Australia.

Specific requirements of associate membership are a core set of subjects and one of two 'associate sequences'.

Core subjects include the compulsory subjects from the commerce degree plus 306-103 Accounting 1A and 306-104 Accounting 1B, 306-202 Intermediate Financial Accounting, 306-201 Cost Management (previously titled Intermediate Managerial Accounting), 306-106 Business Process Analysis ¹ (previously titled Enterprise Process Analysis), 306-301 Financial Accounting, 306-302 Enterprise Performance Management (previously titled Managerial Accounting), 333-201 Business Finance and 732-103 Principles of Business Law (previously titled Introduction to Business Law).

Associate sequences are:

Persons who seek full CPA membership after graduation must complete further external studies specified by CPA Australia. For more information, including details of admission requirements, contact the State Registrar of the CPA, Victorian Division, 28th floor, 385 Bourke Street, Melbourne 3000.

17.2. Institute of Chartered Accountants in Australia

Those who hold the Bachelor of Commerce degree including 306-103 Accounting 1A and 306-104 Accounting 1B, 306-201 Cost Management (previously titled Intermediate Managerial Accounting), 306-202 Intermediate Financial Accounting, 306-106 Business Process Analysis ¹ (previously titled Enterprise Process Analysis), 306-301 Financial Accounting, 306-302 Enterprise Performance Management (previously titled Managerial Accounting), 333-201 Business Finance, 306-304 Auditing and Assurance Services, 732-103 Principles of Business Law (previously titled Introduction to Business Law), 732-202 Corporate Law and 732-303 Taxation Law, may apply to participate in the ICAA's professional year of study.

The ICAA requires professional year students other than holders of honours degrees to complete a minimum of 52 weeks' (at least 39 of which must be mentored by a chartered accountant) service with a firm of chartered accountants in public practice or one of more than 400 accredited organisations in Australia before the commencement of the professional year. For further information on admission requirements, contact the State Director, ICAA, Level 10, 600 Bourke Street, Melbourne 3000.

17.3. Institute of Chartered Secretaries and Administrators

Persons who have completed the Bachelor of Commerce degree, including the accounting and business law sequences, may apply for exemption from eight of the 13 subjects of the Institute's examinations.

17.4. Australian Institute of Banking and Finance

Persons who have completed the degree of Bachelor of Commerce and are employed in the banking and finance industry are eligible for affiliate membership of the Institute. Student membership is also available. Interested students should consult the Institute at Level 19, 385 Bourke Street, Melbourne 3000.

17.5. Institute of Actuaries of Australia

The Bachelor of Commerce course allows students with strong mathematical backgrounds to undertake studies for the actuarial profession in their degrees.

Students who perform at an appropriately high standard in 300-203 Financial Mathematics I, 300-204 Financial Mathematics II, 620-201 Probability, 620-202 Statistics, 316-102 Introductory Microeconomics, 316-201 Intermediate Macroeconomics, 306-104 Accounting 1B, 333-201 Business Finance, 300-330 Survival Models: Theory and Applications, 300-331 Modelling in Insurance and Finance I, 300-332 Modelling in Insurance and Finance II, 300-341 Actuarial Mathematics I, 300-342 Actuarial Mathematics II are able to apply for exemption from seven of the nine subjects required to complete Part I of the examinations of the IAAust. Exemption from the remaining Part I subjects and from Part II may be obtained by completing all taught honours actuarial studies subjects plus 300-334 Financial Mathematics III, at an appropriately high standard. For more information, refer to the Centre for Actuarial Studies web page http://www.economics.unimelb.edu.au/actwww/.

Alternatively the business systems requirement may be satisfied by completing either 615-120 Introduction to Information Systems or 615-150 Organisational Processes or 316-205 Business Computing (in 2001 or earlier only) instead of 306-106 Business Process Analysis. Bachelor of Commerce students should note that they may not enrol in and gain credit for 615-120 and 615-150. Information on subjects available to Commerce students can be found in Commerce and non-commerce subjects