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Units indexed by faculty Professional recognitionThe Faculty of Business and Economics offers both specialist and generalist degrees that enable graduates to satisfy educational requirements for professional registration or membership. During the course of their studies, students should be careful to ensure that the units they take are those required for the profession of their choice. The following tables and notes provide details of the units required for selected professional registration or membership. Accounting: Associate membership of and entry to CPA Program of CPA AustraliaThe following tables show the core units and two elective units accredited by CPA Australia. While CPA Australia does not require the elective units for admission as an associate member, students are advised to include the elective units in their degree program. It should be noted that CPA status and full membership of CPA Australia requires completion of a three-year Practical Experience Mentor Program and the CPA Program, which comprises three core and three elective segments.
LLB Law students must substitute the units in the table above with the following units: LAW2101 (Contract A), LAW2102 (Contract B), LAW4171 (Corporations law 406), LAW5152 (Taxation law 506). MUM Students enrolled in the Bachelor of Business and Commerce at Monash University Malaysia must substitute the units in the table above with the following units: AFW2631 (Financial management), BTW2213 (Malaysian company law), BTW3153 (Malaysian income tax law), ETW1000 (Business and economic statistics). Accounting: entry to the CA Program of The Institute of Chartered Accountants in AustraliaThe following table lists the units accredited by the ICAA and which satisfy the educational requirements for admission to the CA Program. It should be noted that full membership of the ICAA requires completion of mentored work experience and the CA Program, which comprises four technical modules and one final integrative module.
LLB Law students must substitute the following set of units for those mentioned in the above table: Auditor: registration with Australian Securities and Investments Commission (ASIC)Students who intend to satisfy the educational requirements for registration as an auditor with ASIC must complete a degree program that includes three years of accounting (including the unit 'Auditing and assurance') and two years of commercial law (including 'Corporations law and trusts or Australian company law'). In addition, applicants for registration as an auditor must also have a level of practical experience prescribed in the Corporations Regulations 2001 [regulation 9.2.01] and have completed a specialist auditing course such as those run by the ICAA or CPA Australia [regulation 9.2.03]. Banking, finance and securities industries: Membership of the Institute of Securities Finance and Banking (a merger of the Australasian Institute of Banking and Finance and the Securities Institute of Australia)Graduates of the Bachelor of Business (Banking and Finance) are expected to satisfy the educational requirements for associate membership of this new professional institute. Advancement to Senior Associate requires at least two years employment in the industry and attainment of a managerial position. Computing: provisional membership of the Australian Computer Society (ACS)The new double degrees Bachelor of Business and Commerce/Bachelor of Information Technology and Systems at Berwick, Gippsland and Peninsula; Bachelor of Commerce/Bachelor of Business Information Systems at Clayton; and Bachelor of Business/Bachelor of Information Technology and Systems at Caulfield are in the process of accreditation. Contact the Faculty of Information Technology for further information. Graduates of courses accredited at the professional level by ACS satisfy the educational requirements for admission as a provisional member. Advancement to member requires four years of relevant IT experience. Financial product adviserA number of units offered by the Department of Accounting and Finance meet the training standards set down by the Australian Securities and Investment Commission’s Policy Statement 146 (PS146) and are listed on ASIC’s eTraining Register. Students who are contemplating a career in financial planning are advised to consult the eTraining Register or a course adviser prior to enrolment. Management: affiliate status with the Australian Institute of Management (AIM)The degrees in accounting, business, commerce, economics and tourism offered by the faculty are approved educational qualifications for affiliate status. Affiliates can advance to member within five years or less if they can meet AIM’s requirement of proven management achievement. Marketing: associate membership of the Australian Marketing Institute (AMI)Graduates who major in marketing satisfy the educational requirements for admission as an associate member. Membership of AMI is graded into categories which reflect members’ practical experience, professional achievements and formal education. Associate members are encouraged to upgrade their status as their career progresses. Psychology: affiliate status with the Australian Psychological Society (APS)The Bachelor of Psychology and Management/Marketing at Caulfield is an APS-accredited three-year sequence of study in psychology. Graduates will satisfy the educational requirements for admission as an affiliate. Public relations: provisional associate status with the Public Relations Institute of Australia (PRIA)The Bachelor of Business and Commerce at Berwick with a major in public relations is accredited by PRIA. Graduates will be admitted as provisional associates and will satisfy the educational requirements for advancement to professional grades of associate or member when they have completed at least two years in practice or pass the PRIA’s national accreditation examination. Risk management: membership of the Risk Management Institution of Australasia (RMIA)Bachelor of Business (Risk Management) graduates who have five years of recognised work experience in the area of risk management will satisfy the educational requirements for admission as a member of RMIA. Taxation: registration with Tax Agents’ BoardRegulation 156 of the Income Tax Regulations 1936 prescribes the academic and relevant employment requirements for registration as a tax agent. A Monash graduate who has completed the requirements for the award of a bachelors degree that included three years’ study of accounting and 18 months’ study of commercial law, including income tax, will be registered by the Tax Agents’ Board. Previous page | Next page | Section contents | Title and contents |