Colleague from LIBS, represents the University of Lincoln at the Financial Reporting Council (FRC) Academic Roundtable Debate on Exemptions

Fadi Alkaraan, Associate Professor of Accounting, Governance & Sustainability, represents the University of Lincoln at the Financial Reporting Council (FRC) Academic Roundtable Debate on Exemptions, Thursday 1 August 2024.

It was a privilege to be invited by the Financial Reporting Council (FRC) to represent University of Lincoln and join the Financial Reporting Council (FRC) Academic Roundtable Debate on Exemptions. The FRC’s statutory responsibilities include independent oversight of the award of audit qualifications by the Recognised Qualifying Bodies (ACCA, AIA, CAI, CIPFA, ICAEW, and ICAS). There are statutory requirements for the award of audit qualifications, covering entry requirements, syllabus, examinations, and practical training. The FRC oversees Recognised Qualifying Bodies’ compliance with those statutory requirements. Beyond the statutory requirements, the Recognised Qualifying Bodies have scope to innovate and, as an improvement regulator, the FRC promotes good practice in syllabus development, assessment methodologies, and practical training across all Recognised Qualifying Bodies. The FRC’s supervision of the Recognised Qualifying Bodies includes reviewing the processes in place for awarding and maintaining exemptions.

Roundtable
The academic roundtable will support a programme of work we are completing to review processes in place at the Recognised Qualifying Bodies for managing exemptions at universities. At the roundtable, we would like you to share insights and experience of exemptions in relation to the following discussion questions:
1. What attracts universities to apply for, offer and maintain exemptions from the Recognised Qualifying Bodies’ examinations?
2.What attracts students to Accounting and Finance degrees – are exemptions an incentive?
3.In your department/academic career, what is your experience of the exemption process (initial award and ongoing maintenance)?
4. Which Professional Bodies (Recognised Qualifying Bodies and others) does your university engage with for exemptions, and why?
5. What impact do exemptions have on module development (syllabus, teaching methods, assessment methods)?

Story submitted by Fadi Alkaraan
Falkaraan@lincoln.ac.uk