Association of Accounting Technicians
Encyclopedia
The Association of Accounting Technicians, or AAT, is an accountancy organisation with over 120,000 members worldwide. The AAT is a technician level qualification which entitles those who have completed the exams and obtained relevant supervised work experience to call themselves associate accounting technicians. The AAT is based in London but there are branches all over the UK and the rest of the world.
CIPFA, ICAEW, CIMA and ICAS
(ACCA). This organisation used to be a sponsor of the AAT but broke away in order to form a rival body which offers the Certified Accounting Technician
(CAT) qualification. The ACCA implemented this policy as it wanted a technician level qualification which followed the same business model which it did, i.e. one with a global presence.
Whilst the AAT is recognised as a professional qualification by the Department of Trade and Industry in the UK, the accountancy professions there, the USA and existing and former British Commonwealth countries, CAT is not. CAT is a professional academic qualification within the ACCA examination structure. AAT is both a recognised academic and vocational qualification in its own right.
in South Africa decided to sponsor the AAT program and expand it in South Africa
since 2011. AAT(SA) has no signatory powers for any of its South African members, this is because there is not sufficient audit content within the qualification offered. SAICA and AAT are working towards gaining authority in a number of other areas, such as Commissioner of Oaths and Review status. This sort of authority does take time to approve and the new South African Company Legislation is also not yet finalised.
Accounting Technicians, when certified as being experienced and competently qualified, can perform exactly the same tasks in a financial environment as most qualified Chartered Accountants. The main differences being that in the UK Accounting Technicians can not sign off companies audit reports and until very recently needed Reporting Accountant status in order to examine and sign off, the financial accounts for audit exempt charities. The 'old' Reporting Accountant status quickly became obsolete due to changes first in the Companies Act,and finally and most recently the Charities Act 2006. Due to the latter legislation, certain AAT Members In Practice, (not all but a great deal more than before Reporting Accountant standard) are recognised by the DTI to sign off the Independent Review of charity accounts. An Independent Review is similar in status to that work which an AAT member could undertake under the old Reporting Accountant standard. The obsoletion of Reporting Accountant has instigated calls from senior members of the Association, for their body to recognise these more senior members' qualifications and work experience with some new distinguishing status. The matter was taken up by the AAT in early 2007,but to date nothing new has been announced by the AAT.
If an AAT member is also a qualified Chartered Accountant then they are not automatically licenced as an AAT Member In Practice. It is up to such members to choose their preferred regulator and apply for an appropriate practising licence/certificate etc. CA does not supersede AAT in respect of a practising certificate. AAT is a recognised professional qualification, separate from, but working together, for the furthering of the accounting profession, with colleagues, from all the main chartered accountancy AAT sponsoring bodies,and others such as the ACCA.
See also 'Qualifications' above.
Employer Accreditation
A New AAT employer accreditation scheme recognises employers with a positive and planned approach to the professional development of their AAT members, whether through studying for an AAT qualification or, once qualified, supporting them in their continuing professional development.
AAT Accredited Employer Scheme shows employers' commitment to their staff and their professional development. More importantly it provides the employer with a range of benefits including:
Full and fellow members will automatically meet their mandatory CPD requirements by following their employer's training and development processes
Support in managing student member's
Advice on trainee recruitment and funding
AAT Accredited Employer logo and certificate.
Current list of AAT Accredited Employers is available at http://www.aat.org.uk/accredit/employers
Professional recognition
The body is sponsored by four of the UK chartered accountancy bodies. These are:CIPFA, ICAEW, CIMA and ICAS
AAT versus CAT
The one UK chartered accountancy body which does not sponsor the AAT is the Association of Chartered Certified AccountantsAssociation of Chartered Certified Accountants
Founded in 1904, the Association of Chartered Certified Accountants is the global body for professional accountants offering the Chartered Certified Accountant qualification . it is one of the largest and fastest-growing global accountancy bodies with 147,000 members and 424,000 students in 170...
(ACCA). This organisation used to be a sponsor of the AAT but broke away in order to form a rival body which offers the Certified Accounting Technician
Certified Accounting Technician
The Certified Accounting Technician UK qualification is offered by the Association of Chartered Certified Accountants . Upon completion of the exams and required practical work experience the CAT graduate will be able to apply to use the letters CAT after his or her name...
(CAT) qualification. The ACCA implemented this policy as it wanted a technician level qualification which followed the same business model which it did, i.e. one with a global presence.
Whilst the AAT is recognised as a professional qualification by the Department of Trade and Industry in the UK, the accountancy professions there, the USA and existing and former British Commonwealth countries, CAT is not. CAT is a professional academic qualification within the ACCA examination structure. AAT is both a recognised academic and vocational qualification in its own right.
AAT in Scotland
The Institute of Chartered Accountants in Scotland is also keen that the AAT qualification fits into its own business model. It presently has no plans to develop an ICAS technician qualification in direct competition with the AAT's UK model as proposed by some in the late 1990s. Crucially it has remained a sponsoring body since the inception of the AAT. Some of the ICAS membership are keen to go down a fully branded ICAS Technician route. To date the ICAS branding of AAT in Scotland is producing tangible results given the strength of both organisations.AAT in South Africa
The South African Institute of Chartered AccountantsSouth African Institute of Chartered Accountants
The South African Institute of Chartered Accountants , South Africa’s pre-eminent accountancy body, is widely recognized as one of the world’s accounting institutes....
in South Africa decided to sponsor the AAT program and expand it in South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
since 2011. AAT(SA) has no signatory powers for any of its South African members, this is because there is not sufficient audit content within the qualification offered. SAICA and AAT are working towards gaining authority in a number of other areas, such as Commissioner of Oaths and Review status. This sort of authority does take time to approve and the new South African Company Legislation is also not yet finalised.
Examinations
The AAT exams were held twice a year. There is now however a new syllabus since 2010 and there are more than two exams. Once qualified the individual can work in a variety of finance functions at technician level or go on to study to be a chartered accountant through taking the exams of one of its sponsor bodies or indeed the ACCA.Qualifications
The AAT Intermediate qualification (S/NVQ 3 level) has become the first vocational qualification to be approved for the university entrance points system with a value higher than an A grade at A-level. The NVQ is credited at 160 UCAS points (40 more than an "A" in A-Level). The final AAT qualification, AAT Technician, is equivalent to S/NVQ level 4.Accounting Technicians, when certified as being experienced and competently qualified, can perform exactly the same tasks in a financial environment as most qualified Chartered Accountants. The main differences being that in the UK Accounting Technicians can not sign off companies audit reports and until very recently needed Reporting Accountant status in order to examine and sign off, the financial accounts for audit exempt charities. The 'old' Reporting Accountant status quickly became obsolete due to changes first in the Companies Act,and finally and most recently the Charities Act 2006. Due to the latter legislation, certain AAT Members In Practice, (not all but a great deal more than before Reporting Accountant standard) are recognised by the DTI to sign off the Independent Review of charity accounts. An Independent Review is similar in status to that work which an AAT member could undertake under the old Reporting Accountant standard. The obsoletion of Reporting Accountant has instigated calls from senior members of the Association, for their body to recognise these more senior members' qualifications and work experience with some new distinguishing status. The matter was taken up by the AAT in early 2007,but to date nothing new has been announced by the AAT.
If an AAT member is also a qualified Chartered Accountant then they are not automatically licenced as an AAT Member In Practice. It is up to such members to choose their preferred regulator and apply for an appropriate practising licence/certificate etc. CA does not supersede AAT in respect of a practising certificate. AAT is a recognised professional qualification, separate from, but working together, for the furthering of the accounting profession, with colleagues, from all the main chartered accountancy AAT sponsoring bodies,and others such as the ACCA.
Areas of Vocational Expertise and Academic Competence
Accounting Technicians perform similar work based tasks to those members of its sponsoring bodies the main exclusion being that it is not possible for an AAT Member to sign off an auditor's report. However, they can, if additionally they hold a practising certificate with one of the sponsoring bodies regulated and authorised to produce audit reports. The AAT is now one of the accountancy bodies in the UK allowed to let its suitably experienced and qualified members perform independent examinations of charities accounts, subject to the audit exemption thresholds for incorporated charities.See also 'Qualifications' above.
Employer Accreditation
A New AAT employer accreditation scheme recognises employers with a positive and planned approach to the professional development of their AAT members, whether through studying for an AAT qualification or, once qualified, supporting them in their continuing professional development.
AAT Accredited Employer Scheme shows employers' commitment to their staff and their professional development. More importantly it provides the employer with a range of benefits including:
Full and fellow members will automatically meet their mandatory CPD requirements by following their employer's training and development processes
Support in managing student member's
Advice on trainee recruitment and funding
AAT Accredited Employer logo and certificate.
Current list of AAT Accredited Employers is available at http://www.aat.org.uk/accredit/employers