icaew brochure

8/4/2019 Icaew Brochure

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HOW TO BECOME ACHARTERED ACCOUNTANTOPPORTUNITY, VARIETY AND SUCCESS FOR GRADUATES

BUSINESS WITH CONFIDENCE icaew.com/careers


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ICAEW tand or The Intitute o Chartered Accountant in Engandand Wae. Etabihed in 1880, we are a word eader o theaccountancy and inance proeion, upporting over 136,000 charteredaccountant. Our member wor at the highet eve o buine, acroa indutry ector around the word.

Our proeiona quaiication deiver eentia nowedge, i andtechnica epertie in accountancy, inance and buine. We enure our

member are at the oreront o their proeion by maintaining anddeveoping their i and nowedge. We reguate proeiona andethica tandard, and are indutry eader in the proviion o technicaaccounting inormation.


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CONTENTS

03 Why become a chartered

accountant?

05 A rewarding career

06 ACA proiles

08 Train or the ACA12 ACA modules

14 Entry requirements

16 Net steps


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I you dream about being abe to wor

anywhere in the word, chooe the

ACA quaifcation. Your career choicewi be ende.

DREAM


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Source: BoardE online inormation service January 2010 / ICAEW

membership database January 2010

Whether youre an accountant, engineer or urveyor,

being chartered mean you are recognied a being

at the top o your choen proeion. It how you have

indutry peciic i and eperience, not jut academic

and theoretica nowedge.

The ACA qualiication gives you the opportunity to learn while in

ull-time employment, combining technical work eperience, study

and eams. On completion, you can join ICAEW, be recognised as

a chartered accountant and use the letters ACA ater your name.

ACA ACTs Many ACA trainees can double their salary during their training

agreement. Salaries or newly qualiied ACAs compare avourably

with careers in law, general management and banking.

Recent independent surveys show that ACAs can commandhigher salaries throughout their careers when compared with

those holding other accountancy qualiications.

Many ICAEW members achieve partner or inancial director statusearly in their careers, paving the way or a greater variety o

opportunities, rewards and inluence as their career progresses.

I youre ooing or opportunity, variety, and a highyrewarding career a a buine eader chooe the ACAquaiication.

o TsE 100 company

board incude at eat

one ICAEW member

86%

W

HYBECO

MEACH

ARTERED

ACCOUNTANT?


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The i and eperience you gain

through the ACA quaifcation give youthe opportunity to reach the top o your

choen proeion.

ACHIEVE


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AREWA

RDINGC

AREER

A we a ome amazing career opportunitie, aarie

or trainee and quaiied ACA are etremey competitive.

Factors that can impact on your starting salary and career

progression include the size and type o organisation you work or,

the sector you work in and the location.

Typical graduate starting salary in accounting and proessional

services irms is 26,000.Source: The Graduate Market in 2010

Typical average salary or newly qualiied accountants (under

1 year eperience) is 36,000.Source: Accountancy Age Finance Salary Checker

CAREER PROGREssIONThe ICAEW Career Benchmarking Survey 2010 indicates the level o

salary you can achieve with the ACA qualiication at around 1015

years ater you qualiy around the time you reach your mid to

late thirties.

The average income o a qualiied ACA outside o practice is92,300 (79,100 salary + 13,200 bonus).

ACAs working in banking and capital markets are the highest

earners with an average income o 133,000 (97,800 salary +

35,200 bonus). Incomes in the insurance and entertainment/media sectors are

the net highest. The average income in insurance is 106,300

(85,800 salary + 20,500 bonus), and in entertainment/media

is 105,600 (90,000 salary + 15,600 bonus).

Average salaries or ACAs outside the UK are 107,700 and

average bonuses are 23,400.

Inormation on salaries among ACAs in many other sectors outside

o practice can be ound in the annual ICAEW Career Benchmarking

Surveyat icaew.com/cbs

Source: AccountancyOctober 2009 FTSE 100 FD Pay Survey and

AccountancyNovember 2009 FTSE 100 CEO Survey

o TsE 100 quaifed accountant

acting a a fnance director or CEO

have an ACA (our time the number

hoding any other inge quaifcation)

65%


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Beore beginning university I had aspirations to be a doctor but decided that

I enjoyed Economics more, so I chose that instead. I chose the ACA because

it is a well-recognised, prestigious qualiication which has a lot o history.

My current job title is Business Analyst in Market Risk at Barclays Commercial

bank. I like the variety o the job - there are always dierent projects were

required to investigate. Whether reviing or ACA eam or having to go to evening or weeend

cae it can be hard, but the earning potentia when quaiied i omething to ocu on.

AeBusiness Analyst

Barclays, UK

I decided upon the ACA qualiication as its the most prestigious and

acknowledged accountancy qualiication in Cyprus. Qualiying as an

ACA oers diverse employment opportunities, both in the accountancy

proession and beyond. Towards the end o my second year at university

I applied or a summer internship in KPMG Cyprus, to get a real-lie view

o a career in accountancy. I beieve that obtaining a proeiona quaiication uch a the ACA,

provide a combination o trong technica bacground and i in deaing with compe

ituation, both being pre-requiite or a repectabe career in accountancy, either woring

in practice or indutry.

PhedraSenior Audit Advisor

KPMG Ltd, Cyprus

I knew that I was interested in the public sector, and that obtaining a

job where I elt like I was making a real dierence was important to me.I applied to the National Audit Oice (NAO), attracted by the opportunity

o working or the organisation which holds the government to account, and

whose work leads to direct improvements in the delivery o public services.

To obtain the prestigious ACA quali ication at the same time was a bonus.

A epected or uch a highy-regarded quaiication, the training wa intene and demanding,

yet incrediby vauabe, providing a ound ooting or a career in the pubic or private ector.

JennyAudit Principle

National Audit Oice (NAO), UK


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ACAPROFILES

rom an eary tage, I identiied the ACA a the premier accounting

quaiication, the one recognied by the majority o empoyer a the

bet o the bet. With that in mind, there was no doubt as to what I would

pursue as I elt that the unique structure o the ACA would allow me to

develop both proessionally and personally at a aster pace than i I had

pursued another qualiication.

The part I enjoy most about my job is the sense o accomplishment at the end o the day, particularly

ater a gruelling year end. I work in an environment where success is rewarded and this keeps

me motivated.

TeoAssistant Accountant

Boustead Holdings Berhad, Malaysia

I work in the Eecutive Advisory team covering all aspects o US and UK

personal taation. No day o mine is typical! I can be doing a Us ta return

one day, and meeting a cient in their Mayair town houe another.

Plus working with very demanding clients, means that you never really know

what is coming when you pick up the phone!

I completed the Business Accounting and Finance degree (lying start programme at Newcastle

University in conjunction with PwC and ICAEW). The combination o academic study and work

placements was eactly what I was looking or and the opportunity to qualiy as a charteredaccountant earlier than by any other route sealed the deal.

AmandaTa Manager

PricewaterhouseCoopers LLP (PwC), UK

A any ma boy what they woud ie to do when they grow up, and

maybe quite a ew might ay run a ootba cub. I eel very ortunateto have the job I have and without question, overcoming the hurdles and

barriers all chartered accountants ace to become members o the proession

has stood me in good stead.

O course this job is eciting, its almost always un, and sometimes you just dont want to go home.

Despite the pressures, I ind it both proessionally rewarding and personally satisying. My tip or

an interesting career is to secure sound, robust and recognised business skills. There is no doubt

chartered accountancy its that bill.

RobertCEO

Everton FC, UK


10/2008

STEPS TO THE ACA

1

QUAlIY AND APPlY OR ICAEW MEMBERsHIP

On completion o your ACA training you are eligible to apply or membership o ICAEW and use the

designatory letters ACA ater your name.

2

COMPlETE THE OUR ElEMENTs O ACA TRAINING

15 ACA modules

450 days o technical work eperience

Initial proessional development

Structured training in ethics

Once in your training agreement, your employer will ask you to register online asan ACA student.

Your training agreement details your commitment to studying or the ACA

and the support your employer provides throughout your training. It covers

the required period o approved training which is usually three to ive years.

Credit or prior learning, also known as eemptions, is available or some ACA modules.

I you have studied a related subject at university, you may be eligible to apply or credit/

eemptions or up to eight modules.

APPlY OR CREDIT

3

4

REGIsTER As A sTUDENT

5

sIGN A TRAINING AGREEMENT


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TRAINFORTH

EACA

The ACA i a proeiona quaiication, combining tudy

and eam with on-the-job technica wor eperience.

Thi mean you get to put theory into practice, and earn a

competitive aary a you progre through your training.

1 sIGN A TRAINING AGREEMENTTo train or the ACA qualiication you need to complete a training

agreement with one o our 2,500 authorised training employers.

The training agreement is between you and your employer, anddetails the support you will receive while you train or the ACA

qualiication. It is likely to cover:

start o training agreement training can start at any time but

oten begins in September or January

length a training agreement can last between three and ive years

the requirement or at least 450 days o technical work eperience

the number o eam attempts your employer will support

timescales or your ongoing review and structured learning

your allowance or study leave and how the eams will it aroundyour work

your mutual commitment or the length o the training agreement mentor support we require your employer to have a qualiied

person responsible or training who is oten likely to be your

mentor.

2 REGIsTER As A sTUDENTYou will need to register as a student with ICAEW when you start

your training agreement. Your employer will direct you to the ICAEW

student website to register your details. You can join the student

community, register or your eam sittings and access a variety o

supporting inormation to help with your studies.

You can also register as an independent student outside o a trainingagreement and sit all the eams ecept the Case Study. However, to

ully qualiy as an ACA chartered accountant, you will need to

complete all elements o ACA training by securing a training

agreement with an authorised training employer.

3 APPlY OR CREDITCredit or prior learning, or eemptions, is not restricted to

accounting graduates. We consider applications rom any graduate

who has covered the syllabus or a particular paper as part o your

degree studies, or other proessional accountancy qualiication.

You can ind comprehensive inormation about credits in our online

directory at icaew.com/cpl


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The ACA quaifcation i chaenging.

That why quaifed ACA chartered

accountant are away in demand.

OCUs


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4 COMPlETE THE OUR ElEMENTs OACA TRAINING

ACA MODULES

There are 15 modules with eams, in two stages, covering a range

o topics rom business and inance to law and business strategy.

TECHNICAL WORK ExPERIENCE

You need to record 450 days o relevant on-the-job technical work

eperience during your period o approved training, which will takebetween three to ive years.

I you are gaining proessional work eperience within a irm o

registered auditors, you may also be able to record time towards the

UK audit qualiication while you are training.

STRUCTURED TRAINING IN ETHICS

Ethics is an essential part o being a chartered accountant.

You will ollow a structured programme to ensure you apply

ethics throughout your training. Your ethical development will

cover conidentiality, integrity, objectivity and independence.

INITIAL PROFESSIONAL DEVELOPMENTThis helps you develop proessionally by measuring your eperience

in ive key areas that deine a chartered accountant:

ethics and proessionalism

personal eectiveness

technical and unctional epertise

business awareness

proessional judgement.

5 QUAlIY AND APPlY OR ICAEW

MEMBERsHIPOnce you complete your ACA training, you can become a

member o ICAEW and use the letters ACA ater your name and

be recognised as a chartered accountant.

As an ICAEW member you will have access to a variety o groups

and networks, world-class library, resources and events to maintain

and enhance your proessional development throughout your career.


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PROEssIONAl sTAGEKNOWLEDGE MODULES

PROEssIONAl sTAGEAPPLICATION MODULES

ADVANCED sTAGE

ACCOUNTING maintainingfinancialrecords

adjustmentstoaccountingrecords

and inancial statements

preparingfinancialstatements

AssURANCE

concept,processandneedforassurance

internalcontrols

gatheringevidenceonan

assurance engagement

professionalethics

BUsINEss AND INANCE

businessobjectivesandfunctions

businessandorganisational

structures

theroleoffinanceandthe

accountancy proession

governance,sustainability,

corporate responsibility and ethics

theexternalenvironment

lAW

impactofcivilandcriminallawon

business and proessional services

companyandinsolvencylaw

impactoflawintheprofessional

contet

MANAGEMENT INORMATION

costingandpricing

budgetingandforecasting

performancemanagement

managementdecision-making

PRINCIPlEs O TAxATION

theobjectivesandtypesoftax

ethicsandadministration

incometaxandnationalinsurance

contributions

capitalgainstaxandcorporation

ta on chargeable gains

corporatetaxVAT

AUDIT AND AssURANCE legal,ethicalandcurrentissues

acceptingandmanaging

engagements

planningassuranceengagements

concludingandreportingon

assurance engagements

BUsINEss sTRATEGY

strategicanalysis

strategicchoice

implementationandmonitoringof

strategy

INANCIAl ACCOUNTING accountingandreportingconcepts

preparationofsinglecompany

inancial statements

preparationofconsolidated

inancial statements

INANCIAl MANAGEMENT

financialoptions

managingfinancialrisk

investmentdecisionsandvaluation

INANCIAl REPORTING

currentissuesinthereporting

ramework

formulationofaccountingand

reporting policies

preparationandpresentationof

etracts rom inancial statements

analysisandinterpretationof

inancial inormation

TAxATION applicationoftheprinciplesof

ta to businesses: (companies;

partnerships and sole traders)

applicationoftheprinciplesoftax

to individuals

TECHNICAl INTEGRATION

BUsINEss CHANGE

demonstratingknowledge,

planning skills and ability to give

advice

analysingandinterpretinginternal

and eternal inancial and non-

inancial inormation covering:taation and law; business

strategy; business analysis; inancial

management; perormance

management and costing; inancial

and corporate reporting and

accounting; audit and assurance

ethics

TECHNICAl INTEGRATION BUsINEss REPORTING amulti-disciplinaryapproach,

covering: inancial and corporate

reporting and accounting; auditand assurance; taation; law;

ethics

applyingtechnicalknowledgeand

proessional judgement to business

scenarios

compliancebasedscenarios

commercial,practicaladvice

CAsE sTUDY requiresdemonstrationof

knowledge, skills and practical

application rom multiple areas othe syllabus

testsprofessionalskillsinthe

contet o a speciic business issue

demandsabilitytoanalysefinancial

and non-inancial inormation

requiresdemonstrationof

proessional and ethical judgement

developmentofconclusionsand

recommendations required

relatestohowstudentswillbe

epected to work

Integrated ethics

Credit or prior learning


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ACAMODULES

THE ACA MODUlEs CONTENTThe Proeiona stage has both knowledge and applicationmodules.

The knowledge modules introduce the core concepts oaccountancy.

The application modules demonstrate how to build on and usethe knowledge you gain during technical work eperience.

Credit or prior learning is available or all si o the knowledge

modules and the Business Strategy and Financial Management

application modules.The Advanced stage consists o two technical modules anda Case Study.

The modules require you to adopt a multi-disciplinary approachand prove that you can use judgement as well as technical skills in

your day-to-day role.

The Case Study tests your proessional skills in the contet o aspeciic business issue and challenges you on multiple areas o

the syllabus.

Ethics, technical work eperience and initial proessional

development are integrated throughout both stages. This supports

your business decision making and puts your learning into contet.The eperience and epertie you gain through ACA training

can be ued a around the word.

For more inormation go to icaew.com/careers


16/2014

Arts 15.5%

Business & Management 31.7%

Languages 2.1%

Maths 11.8%

Science 10.6%

Other3.6%

Law 2.6%

Accounting andAccounting & Finance 18.5%

Engineering 3.6%

You dont need a bacground in accountancy or a

buine-reated ubject at univerity to tudy or the ACA,

or even have math a one o your A-eve or equivaent

choo-eaving quaiication.

It does help to be competent with numbers and conident in your

ability to analyse, discuss, argue and present a business case key

skills that you will have picked up during university.

There are some required and recommended entry requirements or

the ACA qualiication.

You will need at least two A2 levels and three GCSE passes, ortheir equivalents. Suitable grades at International Baccalaureate

or equivalent school-leaving qualiications are also welcomed.

To gain a place with most authorised training employers, you are

likely to need a minimum UCAS tari score o 280 or above

(or international equivalents), covering both AS and A2 levels

(many employers will not accept qualiications in General Studies

when calculating scores).

For university graduates, you will generally need to achieve good

grades in your irst degree. Many employers will epect a First

or 2:1, some employers will consider your application i you have

a 2:2.

International students: you can ind inormation on your equivalentqualiications at www.naric.org.uk or rom your local British

Council oice. The UCAS website www.ucas.ac.uk oers advice

to help calculate tari scores, and you can also ind advice on the

International Baccalaureate website www.ibo.org

I you have completed the ICAEW Certiicate in Finance, Accountingand Business you are also eligible to apply or a training agreement.

You dont have to be an accountinggraduate to become an ACA

chartered accountant. Our 2009

ACA students came rom the above

degrees.


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ENTRY

REQUIREM

ENTS

CERTIICATE IN INANCE, ACCOUNTINGAND BUsINEss (CAB)CFAB covers the same subjects as the Proessional Stage knowledge

modules that orm part o the ACA. It provides an essential

understanding o the undamentals o inance, accounting and

business.

Anyone can study or CFAB regardless o degree course or

eperience you dont need any ormal academic qualiications or

grades to register.

HOW IT WORKS

CFAB is made up o si modules:

Accounting

Assurance

Business and Finance

Law

Management Inormation

Principles o Taation.

CFAB modules are subject to credit or prior learning - go to

icaew.com/cpl or details. CFAB can be completed in 12 monthsor less, and the modules can be taken in any order. It is ideal to

consider alongside your degree studies, during an internship,

summer break or a gap year. Because it covers the irst si modules

o the ACA, it gives an introduction to what the ACA qualiication is

really like.

LEARNING OPTIONS

CFAB has a leible learning structure. You can learn at your own

pace through sel study or classroom-based tuition at approved

locations throughout the world.

All assessments are completed online and last 1.5 hours. You decide

when you are ready to take them so you can it CFAB around your

eisting commitments.

To register or ind out more about CFAB, visit icaew.com/careers


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CHOOsING AN EMPlOYEROrganisations o any size and in any business

sector can train ACA students.

Public practice is the traditional route to the

ACA and becoming a chartered accountant.

It oers an insight into the workings o a wide

range o client organisations. There are many

training options rom small local practices,

medium-sized accountancy irms to the Big Four

(PricewaterhouseCoopers, Ernst & Young, KPMG

and Deloitte).

Many commercial businesses oer the ACA

qualiication, so i you want to train in business

rather than practice you can.

I youd preer to work in the not-or-proit or

public sector the National Audit Oice, several

healthcare trusts, city councils, local authorities,

universities and government departments oer

ACA training.

WHAT EMPlOYERs lOOk ORYou should epect to undergo a rigorousrecruitment process its all part o ensuring ACAs

meet the highest standards.

Employers will consider your academic abilities,

willingness to learn, commitment and motivation.

They will also look or evidence o soter

skills such as team working, oral and written

communication, problem-solving and commercial

awareness.

You may already have some eperience o

these through your eisting work eperience,

or through non-academic or voluntary work.As well as a CV, its worth preparing eamples

or interviews and applications showing how your

skills and eperience match employers needs.

Internationay recognied and repected,the ACA quaifcation aow you to wor

with any ind o organiation you chooe.

ExPlORE


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NExT

STEPS

Is THE ACA QUAlIICATION RIGHTOR YOU? Decide what kind o employer suits your career plans sector or

type o organisation, location and size.

Check that you meet the entry requirements as every employerwill dier slightly. Each employer has their own recruitment and

application process so theres no standard application pack.

Start to apply or training opportunities. Use the Training Vacancieswebsite or printed guide throughout the year to ind out about

ACA training opportunities, internships and summer placements.

Go to icaew.com/careers

TO IND OUT MOREVisit icaew.com/careers or advice on your CV, tips on applications,

up-to-date training opportunities, and more about current ACA

trainees and their eperiences.

Use your university careers service and visit careers airs on campusto ind out more about the graduate opportunities available.

I you have the time and want to see what some o the ACA eamswill be like, you can complete the CFAB qualiication during a

placement year or during summer break. I you are studying

a related degree, you may be eligible or credits or some o theCFAB modules.

Register or our monthly, term-time e-newsletter [email protected] to start receiving updates and job alerts.

Join our Facebook an page icaew careers

WE CAN HElP YOU TO IND ATRAINING AGREEMENTYoull ind more inormation on ACA training opportunities,

internships and work eperience placements and how to

apply to your chosen employers at icaew.com/careers

The training vacancies section lists many o the ACA training

agreements available worldwide. Training Vacancies is also

published in January, April and September. Email the studentrecruitment team at [email protected] to receive a printed

guide, or visit the website to ind current opportunities.


20/20

ICAEW is a proessional membership organisation, supporting over 136,000

chartered accountants around the world. Through our technical knowledge,

skills and epertise, we provide insight and leadership to the global accountancy

and fnance proession.

Our members provide fnancial knowledge and guidance based on the highestproessional, technical and ethical standards. We develop and support individuals,

organisations and communities to help them achieve long-term, sustainable

economic value.

Becaue o u, peope can do buine with confdence.

T +44 (0)1908 248 250

+44 (0)1908 248 260

E [email protected]

ICAEW

Chartered Accountants Hall

Moorgate Place London

EC2R 6EA UK

FIND OUT MORE...Contact the student recruitment team on +44 (0)1908 248 040

or email us at [email protected]

ICAEW training programmes are available in:

Bangladesh

China

Cyprus

Greece

Malaysia

MauritiusMiddle East

Pakistan

Romania

Russia

Singapore

UK

2011

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