AMCT Exemptions

Automatic exemptions – eligibility

The following information outlines which qualifications are eligible for automatic exemptions:

• Fast-Track Accountants
• Qualified Accountants
• Part-qualified Accountants
• Academic and other professional qualifications

Fast-Track Accountants

If you are an ACCA affiliate or member, a CIMA student or member, an ICAEW or an ICAS member you may be eligible for the AMCT Fast-Track route. Fast-Track students are automatically exempt from all four AMCT stage one CertFin exams and also benefit from the Certificate in Corporate Finance and Funding Fast-Track exam at AMCT stage three. For further information, including eligibility criteria, go to our AMCT FastTrack page.

Qualified Accountants

If you are a qualified accountant from an IFAC member body and not eligible for the AMCT Fast-Track route, you are still automatically exempt the AMCT stage one CertFin exams.

To check to see if the accountancy body you qualified with is a member of IFAC, go to http://web.ifac.org/about/member-bodies (IFAC Member Bodies). Associate members or affiliate bodies are not exempt.

If your accountancy body is a member of IFAC, you can enrol directly onto stage two – the Certificate in International Treasury Management (CertITM). For information on how to enrol, see below.

Part-qualified Accountants

Part qualified CIMA, ICAEW and ACCA accountants are eligible for automatic exemption from one or more of the AMCT stage one CertFin exams. The following attachment tables the CIMA/ ICAEW/ ACCA module exams you need to have passed in order to be eligible for automatic exemption(s).

AMCT exemptions for accountants

Academic and other professional qualifications

If you hold a directly relevant Bachelor or Masters degree and majored in one of subjects listed in the following attachment, you will be automatically exempt from the relevant AMCT stage one CertFin exam.

Automatic exemptions from one or more of the AMCT stage one CertFin exams are also available to the holders of some professional qualifications. Again, read the following attachment for further information.

AMCT exemptions for academic qualifications

Automatic exemptions – enrolling

If you are eligible for automatic exemptions, complete section 5 – AMCT exemptions on the AMCT Enrolment Form and indicate which AMCT stage one CertFin modules you are exempt from on the Booking Form by ticking the relevant exemption credit box(es).

AMCT enrolment form

You will also need to include proof that you are eligible for exemption(s). If you are a qualified accountant from an IFAC member body, or hold an academic or professional qualification listed as eligible for automatic exemption, submit a photocopy of your qualification certificate/ proof of completion with your AMCT Enrolment Form. If you are a part qualified CIMA, ICAEW or ACCA accountant, submit photocopy proof that you have passed the relevant module exams for each exemption you are entitled to.

Automatic exemptions – fees

Fast-Track Accountants and Qualified Accountants from IFAC Member bodies are not required to pay a fee for the exemption of CertFin. For all other applicants, when your enrolment is processed, £250 + VAT will be deducted from the CertFin course fee for each module exemption awarded. Therefore, those exempt from all four CertFin modules will be charged a fee of £200+VAT.

If you have any questions about automatic exemptions, email exemptions@treasurers.org.

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Individually reviewed exemptions – eligibility

If your academic and/or professional qualification is not listed as eligible for automatic exemption from one or more of the AMCT stage one CertFin exams, you can still apply for exemption(s) by having your qualification reviewed on an individual basis.

You should have your qualification individually reviewed for exemption if you think you have covered the syllabus for one or more of the CertFin modules in your previous studies. The AMCT Exemption Application Form, which you can download below, contains a list of the topics covered in each of the CertFin modules. The ACT is unable to comment on the likelihood of exemptions being awarded prior to assessment.

Individually reviewed exemptions – applying

To apply for individually reviewed exemptions, you will need to complete the AMCT Exemption Application Form. This form requires you to identify where in your previous qualification(s) you have covered the syllabus for each of the CertFin modules(s) you are applying for exemption from.

AMCT Exemption Application Form

In addition to the AMCT Exemption Application Form, to apply for individually reviewed exemptions you will also need to provide:

• A copy of your relevant qualification certificate/ proof of completion AND a transcript
• A copy of the syllabus for each module you will be referencing in the AMCT Exemption Application Form

Non-English certificates, transcripts and syllabi must be translated into English before you can submit your AMCT exemption application form.

AMCT exemption application form checklist

• Fill out the personal details section of the form, indicate which module(s) you are applying for an exemption from and give details of the qualification(s) you are basing your application on.
• Cross-reference the relevant areas from your academic/ professional qualification syllabus against the AMCT stage one CertFin syllabus for the module(s) you are applying for exemption from.
• Once you have completed the AMCT Exemption Form send this, along with a copy of your qualification certificate/ proof of completion, transcript and syllabus to: Education Department, ACT, 51 Moorgate, London, EC2R 6BH

We will confirm receipt of your documents by email. Arrangements will then be made for the application to be individually reviewed.

Exemption applications can take 3-6 weeks to be reviewed, once we know the outcome we will notify you by email.

Individually reviewed exemptions – enrolling

Once a decision has been made regarding your application for exemption, you can enrol onto the next exam sitting by submitting an AMCT Enrolment and Booking Form. Make sure to complete section 5 – AMCT exemptions on the AMCT Enrolment Form and indicate which AMCT stage one CertFin module(s) you are exempt from on the Booking Form by ticking the relevant exemption credit box(es). You will also need to attach a copy your exemption email to this. The enrolment deadlines are:

• 15 September for April examination
• 15 March for October examination

Alternatively, you can submit an AMCT Enrolment and Booking form along with your AMCT Exemption Application. We can process your enrolment once the outcome of your exemption application has been decided. It is best to do this if you are applying for individually reviewed exemptions close to an enrolment deadline.

AMCT enrolment form

Individually reviewed exemptions – fees

When you are enrolled onto the AMCT Diploma in Treasury, £250 + VAT will be deducted from the compulsory CertFin course fee for each module exemption awarded. Therefore, students exempt from all four CertFin modules will be charged a fee of £200+VAT.

If you have any questions about individually reviewed exemptions, email exemptions@treasurers.org.

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