Want to be an accountant????

AAW_2

Hello, my 12 months of bankruptcy will be up in April 2010. I would like to start a college course in September 2010 doing accountancy. I know you cannot practice as an accountant during bankruptcy but in 4 years or so when (if) I am qualified will I be ok, or are firms likely to frown upon the fact that I was previously bankrupt?

Thanks for reading this.

dane-katie

I rang up a while ago the people who you have to register with to be a accountant (sorry forgot what they are called) they told me bankruptcy doesnt stop you but they look at each case individually, see what caused you to go bankrupt etc and they might turn you down, just depends on each case.

Sorry i dont know anymore

WestonDave

You would need to check with the specific institute you plan to qualify under as they will probably all have their own rules.

skylight

I was going to college in Sept for the AATs (circumstance change meant I didn't). But after checking out the AAT guidelines, which they specifically have them on their website, there is not a problem being a student or new member after BR. As mentioned above, each case is dealt with on its own merits and reading between the lines and the way the guidelines are worded, I took that to mean non-fault or due to crime/fraud etc.

AAW_2

Thank you, my case was pretty straight forward. No fraud involved just borrowed what I could afford til a case of redundancy came along....and could no longer afford to pay back. Just concerned that once I'm qualified potenetial empoyers wouldn't even look at me to be hired.

AAW_2

But if anyone else has any experience relateing to this then I would appreciate your help.

Thanks

skylight

AAW wrote: »

Just concerned that once I'm qualified potenetial empoyers wouldn't even look at me to be hired.

This is going to be a problem no matter what your circumstances. Employers can pretty much decide on who they want to employ. Now, I know there are "laws" about sex/race etc but unless you actually tell someone you are breaking these laws then they are naff.

An employer can refuse to employ me because I am fat. There is no fattism law so they can actually tell me this to my face too! (perhaps a thump and a sharp kick would be forthcoming though lol!!)

What I am trying to say is that you are going to be faced with refusals for all manner of things in life. BR is another hurdle; I accept that. But unless an employer wants to know your BR status or credit history etc then you do not have to tell them explicitly. On a plus point, you can use it to your advantage. What a lucky find you are, being an ex-BR and knowing the stresses and strains it puts on you is a benefit to their clients and business. Its all the more important because you understand the good and bad to life with finances and you can advise accordingly.

I do some volunterring (helping families back on their feet) and am sent to people who have financial difficulties because I have been there and worn the T-Shirt, so to speak. Use it as a skill, not a problem!!! And certainly dont look at it as a problem before you have even started!!!

Tixy

With regards to ACCA it is certainly possible to become a member if you have been bankrupt in the past but as said before each case is looked at individually.

This link gives details of a couple of previous decisions, which may be of interest (unless you've already seen them)
http://www.accaglobal.com/pubs/members/professional_standards/committees/regulatory_precedents/admission/App_member_bankrupt.doc

If you become an accountant in a firm you will be expected to complete an initial 'fit & proper' form (and the same form annually) - this asks
1 - if you have ever been bankrupt and
2 - if you have failed to satisfy any debt due under a court order at any time in the last 20years.

So you would have to disclose this to your employers.

HTH