AIBU to not do my final chartered accountany exam?

[butcanicount]

NC for this but I am a regular poster.

Basically I have 1 final chartered accountancy exam to do in order to be fully qualified but I haven't done it. List of excuses coming:

Final year in 2017 I passed all exams bar one which I failed by 2% - had it rechecked no go

2018 - mum was in ICU I was told to 'prepare' myself. I didn't do the exam

2019 - I was in a MH hospital for 3 months

2020 - with covid they put the exams online, I tried to get extra support due to dyslexia, they couldn't do anything because I can't find my official diagnosis

2021 - twice more in MH hospital approx 4 months total, had 3 miscarriages also

2022 - had a baby

2023 - thinking maybe I should try do the exam again.

My work place, everywhere I have worked since finishing my training time have employed me as an accountant. Positions are advertised and paid as fully qualified accountants. But I have never lied, they know I am 1 exam off, but that I have done my 'time'. So it hasn't has any impact on my career, I work in industry not practice and with how my MH is I have no desire to ever be the top of the ladder, I am on a 'nice wage' and happy. But every so often I think I should try again to qualify. I don't even know if they would let me re-sit at this point. DH is worried that the stress would be too much for me. Also we are hoping to have another baby next year

YABU - do the last exam
YANBU - It's not affecting anything do not do the exam.

It's probably worth checking first of all whether you can re-sit it, and how much effort that would take.

If you can't resit, then it's a moot question.

Lots of people will probably come on and tell you to do it, but if doing so is only going to cause you a lot of stress for no real benefit, then really, what's the point?

Do it. It will bite you in the bum if you don’t.

Who are you doing the exams with?

It might be worth checking your other exams are still valid for you to be able to take one more and be chartered, depending on your provider.

In your situation I'd do it, if you're able to with the provider. It's one exam to be chartered, be able to have the freedom to change companies if you wish (other companies might not hire it the same way your current one does!) etc

This is what worries me every so often. What if regulations get stricter or something in 10 years and I need the papers.

I have checked with charted house I absolutely can call myself an accountant just not a chartered one. And I don't call myself a chartered accountant. And I have not lied to my employers

I looked into getting a book keeping qualification just to have something but I'd still have to do exams even though I have passed all but 1 of the full accountantancy exams.

Every so often at 3am it will bother me and then I try forget about it.

2022 was a good year 😊

I'm sorry about all the other shit you've been through 💐

I wish I knew you in person. It's honestly hard to say without knowing you personally.

if you didn't have the MH issues, I'd say just outsource as much of everything else you can & focus on it.

see if you can get any study leave from work.

tell DH you need as much support as possible

take help from any family & friends offering it.

it might not be affecting your current employment, but you have many years left to work & at some point in the future it will stop you progressing to more senior positions.

can you get some help from senior staff to help you with your weakest areas?

you'll feel so good passing it!

However, only you know what your MH can take & what it can't & your health is very important.

best wishes x

I was in a similar position though a different qualification. I finished all the study in 2009 but didn't get around to getting the final step sorted until 2016. By which time I was well advanced in my career and it didn't make a jot of difference because by then I was being employed on the basis of my experience and knowledge and the qualification was irrelevant but it was a huge relief to get it done and know that it was achieved, and to no longer have to explain that I wasn't quite 100% qualified technically in the rare occasions when e.g. I was asked to sign something where the small print said it had to be signed by a person who meets X critera and I didn't.

Go for it.

Nb you can get a copy of any diagnosis just write to the relevant record-holder and ask them for a copy.

I would do it if it’s even still possible - it’s a bit sunk cost fallacy on my part but what was the point in all that work? It would be a mistake to assume you’ll want (or be able to) stay with the same employer forever.

“Call yourself an accountant” means nothing. Accountants at my workplace must be full members of one of the chartered bodies so you couldn’t call yourself an accountant here because you wouldn’t pass shortlisting. Other places won’t have that requirement, it’s up to the employer.

I'm a Chartered Accountant, given all the work you've put in I would highly advise you to do the last exam if you can.

You've put in all that hard work, and as someone up thread said, it'll come back to bite you at some point.

However given you've completed all but one, surely you can count yourself as part qualified (which would be more qualified than a book keeping qualification)? What qualification are you studying for?

Do the exam and qualify as chartered, you may really need it one day. I am a solicitor who qualified later in life, I am so glad I finished all of my exams, it was tough going to get here.

I saw this this morning - good luck 🍀

Loads of well paid jobs will not hire you without it.

In my organisation your pay rises immediately by 10k on qualifying.

I think it comes down to this - you'll never regret doing it, but you may very much regret not doing it. So to me it's a no brainer, of course you sit the exam and get the qualification.

You've got this far so you're well capable. Just take a deep breath and push through. It'll be worth it. I've done the exams but not the last one and tbh i really regret it. They are an ungodly pain in the hole i grant you but it's one last exam. You can totally do it. You got this!

As a 1st step I'd check whether you are time bared, as if you are it's not even worth wasting head space on.

I'd say do it. I also work in industry. You never know if things might tighten meaning you suddenly do need to be qualified.

My workplace has just done a restructure. There were lots of finance jobs you didn't need to be fully qualified for, and now you do! Lots of people were left and now the proportion of this remaining are nearly all qualified. Our roles are very much advisory based too, about 50% were qualified before. It was a nice to have but not a necessity, and now they have moved the goalposts.

You should do it .

It will likely be a huge regret not to

I think you might be time barred

Which accountancy body are you studying with?

I did my ACA, finishing in 2019. Hardest thing I’ve ever done education wise, by a country mile! There were many times I thought I’d never get through it, but I’d have felt like a failure if I’d given up, especially right at the last hurdle.

You’re neither reasonable nor unreasonable, this is entirely down to you and whether you want to have spent all that time and energy to essentially achieve nothing at the end of it. If you can live happily with that, then don’t do it. If you like to have achieved something, do the exam.

I find it surprising you’re getting qualified accountant positions without being qualified. Surely a time will come where someone’s going to notice you’ve not studied for X number of years and are therefore not planning to qualify?

How long have to left to do it? I think that will have a huge impact on the advice.

As an FD in industry I'm going to go against the grain and say that experience counts for more to me when hiring that that last qualification does. Some of the best accountants I've hired have been PQ or even QBE.

I think if you feel you are in a good place to do the exam then great, go for it and relish that sense of achievement when done.

However, if the added pressure is going to risk your MH then leave it and focus on doing your best with your family, and getting the best experience you can in your current role.

If you’re not time barred I would absolutely do it - you never know if you will need it in the future

My advice, for what it's worth:
Take a deep breath, work out a plan for some study and do it, just for you. Even if you never use the 'chartered' status, it'll still be there as an achievement.
I did it with my degree. Work sponsored me throughout but I wanted to delay starting. My boss was like, what will have changed if you delay a year? Answer, likely nothing. I pushed on, got a first but don't generally shout about it. I keep it in reserve for when I feel I need a bit more clout! I've also got a health & safety exam that I've failed a few times. I will retake it and I will pass it, it will not beat me! Good luck 🙂

I think I also might be time barred.

I did work with someone early in my training who was training to be ACCA, he had about 80% of the exams in the 90s. He did still get a lot of exemptions.

I will have to write a letter to the board and they will get to decide. That's what I was told the last time I attempted the exam in 2020. I know 1 person on that board, a partner in my training firm. I don't want him knowing my personal issues.

They will want a full and complete explanation and proof.

@OlizraWiteomQua I don't even know who that is neither does my mum. I contacted my old school but haven't heard

I wouldn't be so sure about never regretting doing it.

I spent 2 years doing a masters degree and totally regret it. I'd much rather have that time and money back.

If there is no benefit to the OP to do it, I wouldn't do it.

I had a similar situation to you ( in terms of time lapse, not the events). I passed all but 2 of my 4 final papers for ACCA then stopped to have two children. After 10 years lapse I had to sit all the finals again so check what it says now.

Most accountant jobs would probably accept your part qual status alongside your experience (although some practices maybe not). I had no problem getting Management Accountant jobs being a finalist with years of experience.

However, my kids and now 13 and 10 so the past few years I've been making a strategic shift as I think about my pension contributions and salary grades as I don't want to be working until I drop.

I qualified in 2020 which meant I could go for FD level roles. I'm glad I did as I'm hoping 5 years of graft at a good salary will boost my pension pot so I have better options earlier on.

But if you're happy where you are and have don't foresee a need for it, then don't put yourself through it if you think it's too much. I have a Financial Controller and Finance Manager who work for me, both finalist lever and have no desire to move any further in their careers and are happy where they are, which I have no problem with.

For me, qualifying was a personal goal as well - I definitely had something to prove to myself in getting there.

Getting it finished will means you just have most options available to you in the future if you choose to take a different path. And if not, it's still a great professional qualification to have.

If you’re ACA you can claim
a qualification called a CFAB for completing some exams.

I did this - left accountancy part qualified as wanted to do different things. 20 years later it would be very beneficial to me applying for CEO roles etc if I’d bothered to finish. But it’s too late.

if it will break you don’t do it - but if it won’t I’d go for it. Think for ACA you have 10
Years…