Academia

Academic accountants work in institutes of higher education or other post compulsory education institutes. They work in all of the following aspects of academia:

• lecturing and tutoring
• co-ordinating subjects and providing support to lecturers and tutors
• undertaking research, writing academic research papers and presenting research to academic research forums

Area of work

An area of work is a core area or specialisation within the accounting profession. Nine areas of work have been recognised and they are: academia, auditing / assurance, financial accounting, financial planning, information technology, insolvency and reconstruction, management accounting, taxation and treasury / financial risk management.

Within each area of work there are workplace skills, which outline the general work tasks required in that accounting area.

To complete these work skills, members must produce workplace evidence to demonstrate skill attainment.

Associate member

A member (an Associate) of CPA Australia who must complete the CPA Program and the Mentor Program before they can become a CPA. These Associates become Mentees once they register for the Mentor Program.

Audit

At advancement, a small percentage of members will be asked to provide documentation of their Mentor Program.

Auditing / assurance

Auditing / assurance refers to the examination, verification and evaluation of financial or managerial processes, systems or outcomes in organisational. It includes an independent report on their credibility and operational effectiveness. Auditing also refers to the management of the auditing function.

Authentic

The authenticity of your documentation determines whether the workplace evidence is your work.

Client

The term 'client' can apply to internal clients and other departments and units within an organisation. For example, if working within a government department, the term 'client' may refer to a government minister, head of department or another government agency.

Collection of workplace evidence

Workplace evidence is the documentation you provide to your mentor to demonstrate experience in your chosen areas of work.

Competency levels

The competency levels describe the complexity and difficulty of the various skill sets listed in the areas of work. You need to choose a level that best relates to the work you are doing or will be doing within the next three years.

CPA Program

The CPA Program is a world class professional education program. Since 2004, CPA Program consists of six segments, three compulsory and three elective, which must be completed within five years of commencement. Together the segments provide a comprehensive program of technical knowledge, practical applications and case studies. Associate members are required to complete the CPA Program prior to advancement to CPA status.

Employer contact

The role of the employer contact is to confirm the mentees employment in a professional accounting role and development of generic soft skills. They may also be contacted by CPA Australia to confirm the professional development opportunities offered in the mentee's workplace.

Equivalent professional accounting bodies

Full members of the following professional accounting bodies are accepted by CPA Australia as being CPA equivalent:

• American Institute of Certified Public Accountants
• Chartered Accountants of Canada
• The Association of Chartered Certified Accountants (UK)
• The Chartered Institute of Management Accountants (UK)
• The Chartered Institute of Public Finance and Accountancy (UK)
• The Chinese Institute of Certified Public Accountants 
• The Conseil Superiéur de l'Ordre des Experts-Comptables
• The Hong Kong Institute of Certified Public Accountants
• The Institute of Chartered Accountants in Ireland
• The Institute of Certified Public Accountants of Singapore
• The Institute of Chartered Accountants in Australia
• The Institute of Chartered Accountants in England and Wales
• The Institute of Chartered Accountants of India
• The Institute of Certified Public Accountants in Ireland
• The Institute of Chartered Accountants of Scotland
• The Institute of Chartered Accountants of Sri Lanka
• The Malaysian Association of Certified Public Accountants
• The Malaysian Institute of Accountants
• The New Zealand Institute of Chartered Accountants
• The South African Institute of Chartered Accountants

Financial accounting

Financial accounting refers to that area of accounting work concerned with the design and operation of information and reporting systems to report external decision makes. It also refers to the management of that function.

Financial planning

Financial planning is the process of providing comprehensive assistance and support to meet a client's financial needs and goals in rapidly changing regulatory environments.

Forms

The Mentor Program contains several forms which should be used to record your progress and achievement.

IT

IT encompasses the needs of professional accounting users for efficient and effective systems. It involves hardware and software to support operations, information systems and management processes. It includes the skills required to apply those products and processes to the tasks of information production and information system development, design, management, control and evaluation. This area also encompasses project management activities. 

Insolvency and reconstruction

Insolvency and reconstruction refers to that area of work which is concerned with:

• advising on, or reconstructing organisations which are underperforming, potentially insolvent or insolvent
• the winding up of organisations which are insolvent
• reporting on the conduct and outcome to interested parties

It also refers to individuals who are in financial distress and unable to pay their debts.

Management accounting

Management accounting refers to systems, processes and technologies designed for the effective use of organisational resources, in diverse, changing and competitive environments. Management accounting includes cost control and budgeting, strategic planning, project appraisals and organisational design and development. 

Mentee

A mentee is an Associate member who is required to complete the Mentor Program in order to become fully qualified CPA. The mentee is required to demonstrate workplace skills to the mentor through collection of workplace evidence and is responsible for driving the mentoring relationship.

Mentor

A mentor shares their knowledge and experience, and guides the Mentee through the Mentor Program. Mentors are responsible for confirming the length of the mentoring relationship and signing off on demonstrated skills in the mentee's logbook.

Mentor Program

The Mentor Program has been designed to ensure all members, irrespective of the type of organisation they work for or their geographic location, develop a minimum level of workplace experience in the finance and / or accounting areas prior to advancement to CPA status.

It is compulsory for all Associate members who started the CPA Program from 2002 onwards if living in Australia (and 2003 if living overseas) to complete the Mentor Program prior to advancement to CPA status.

Mentoring relationship

The professional relationship between an Associate member (the mentee) and a more senior CPA or equivalent (the mentor).

Practical experience

In order to advance to CPA status, Associate members are required to undertake three years of mentored practical experience at an appropriate level.

Professional accounting / finance role

Generally, a professional accounting or finance role, it is the type of role which can only be undertaken with the benefit of an accounting or finance degree.

Recognition of prior experience

CPA Australia will recognise prior experience as part of the practical experience requirements. A formal application is required. For further information visit the Recognition of prior experience section. 

Registration

Associate members must register into the Mentor Program in order to meet the practical experience requirements of advancement to CPA status. Registration is open twice each year.

Rules of evidence

The rules of evidence require that the workplace evidence confirms the mentee is capable of performing the tasks in the manner and to the level of expertise set out in the area of work logbook.

Skills

Skills relate to a member's ability to perform individual work tasks. The individual skills required under each area of work are listed in the areas of work logbook.

Skill sets

These are groups of skills, clustered together as they are required to complete particular work tasks. They are separated by the horizontal lines in the area of work logbook.

Taxation

Taxation work performed by accountants involves designing, operating and evaluating systems of taxation management, in rapidly changing and globally competitive environment. The taxation area of work and skills can apply to mentees working in a public practice and to mentees working in the corporate sector or the public sector.

Where mentees are working in the corporate sector, the client may be other divisions or units within the same company or company group. Where mentees are working in the public practice sector, the client is more likely to be external clients of the firm. 

Treasury / financial risk management

Treasury / financial risk management refers to that area of work concerned, in changing global contexts, with the management of financial risk for organisations, and with the management of the function.

Valid

The validity of the documentation questions whether the workplace evidence directly reflects what is in the area of work logbook.

Volunteer mentor

A volunteer mentor is someone who has offered their time to an Associate member who cannot nominate someone they know as their mentor.

Volunteer mentor database

If a mentee cannot nominate their own mentor, they can pay a fee to access a database of volunteer mentors. They can search for a mentor using this database.

Workplace evidence

The workplace evidence is collected by the mentee and supports their claim they have gained a particular workplace skill as listed in the areas of work logbook.