Unlock Your Financial Future with ACA Excellence
Why ACA
The Institute of Chartered Accountants in England and Wales (ICAEW) is a prestigious professional membership organisation that supports, develops, and regulates chartered accountants in the UK and globally.
ICAEW is one of the leading professional accountancy bodies in the world. Membership is highly regarded and demonstrates a high level of professional competence and ethical standards.
Recognised internationally, providing career opportunities and professional mobility across the globe.
Rigorous and comprehensive training which covers a wide range of Accounting, Finance, and Business skills.
ICAEW plays a significant role in influencing and shaping the accountancy profession through thought Leadership, Policy Development, and Advocacy on issues affecting the industry and its members.
Have a diverse and challenging career, because where and how far you want to go is entirely up to you.
Programme Overview
The programme is divided into three key stages: Certificate Level, Professional Level, and Advanced Level.
Objective:
To provide a foundation in core Accounting principles and practices.
Modules:
- Accounting Fundamentals: To ensure that students have a sound understanding of the techniques of double entry accounting and can apply its principles in recording transactions, straightforward adjustments to financial records and preparing non-complex financial statements.
- Assurance and Risk Fundamentals:To ensure that students understand the assurance process and fundamental principles of ethics, and are able to contribute to the assessment of internal controls and gathering of evidence on assurance work.
- Business Insight and Performance: To enable students to prepare essential financial information for the management of a business.
- Business Law: To provide students with an understanding of the principles of business law.
- Sustainability and Ethics: To provide students with an understanding of the fundamentals of sustainability and ethics and how they are relevant to the work of the professional accountant.
- Tax Fundamentals: To enable students to understand the general objectives of taxation and to calculate income tax, national insurance contributions, capital gains tax, inheritance tax, corporation tax, VAT and stamp taxes in straightforward scenarios.
Objective:
To build on foundational knowledge and apply it to more complex scenarios.
Modules:
- Financial Accounting and Reporting: Detailed financial reporting and standards
- Audit and Assurance: Advanced auditing techniques and principles
- Tax Compliance: Practical aspects of tax compliance and planning
- Business Planning: Strategic business planning and analysis
- Financial Management: In-depth financial management strategies
- Business Strategy and Technology: Strategic business management and technology integration
Objective:
To develop strategic decision-making and advanced technical skills.
Modules:
- Corporate Reporting: Advanced financial reporting and complex accounting issues
- Strategic Business Management: High-level strategic management and decision-making
- Case Study: Application of knowledge in a simulated business scenario, requiring comprehensive analysis and recommendations.
Assessment:
Written exams, including a case study that integrates knowledge from all previous modules.
What You Need to Know
- High school leavers: You will need at least two A-levels and three GCSE passes, or their equivalents
- The Cypriot State school apolytirion is not regarded as equivalent to two A Levels, but a school leaver from the state school system can begin with CFAB and then progress to ACA
- University graduates from any discipline: Graduates generally need to achieve good grades in a first degree. Many employers will expect a First or 2:1, although some will consider applications with a 2:2
- You can also apply for an ACA training agreement if you’ve successfully completed ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB). CFAB comprises the first six modules of the ACA qualification
- You can join ACA (and be eligible to apply for credit for prior learning if you are a holder of other professional qualification (i.e. ACCA, CIMA, CIPFA, ICAS, CAI, AAT).
Credit for prior learning is available for all of the Certificate and Professional Level modules of the ACA qualification. If you are Graduate, you can apply for up to eight credits (all the Certificate and Professional level modules).
ICAEW allows you to claim up to 12 credits for some professional qualifications and for strategic degree programmes.
No credits are given for the Advanced Level.
Register as a Student: Candidates must register as an ACA student with ICAEW.
Secure a Training Agreement: Obtain a training agreement with an ICAEW-authorised training employer.
Meet Educational Requirements: Provide evidence of meeting the academic entry requirements.
Plan Studies and Training: Work with the employer and ICAEW to plan the studies, exams, and practical work experience.
It is students’ responsibility to apply for their exams by the exam closing deadline. Students should have all the key exam dates and deadlines they need during their ACA studies. Please note that ICAEW does not accept late exam applications or changes to an exam application once the deadlines have passed. No allowance is made for any special circumstances or any error or omission.
You may find ACA Professional and Advanced Level exam dates, results dates and exam booking deadlines by clicking here.
The annual ACA planner which is designed to help you get organised at any time of the year. Use the planner to help keep your ACA training on track – add your study days, revision timetable, exams, six-monthly reviews, and reminders on when you need to update your online training file.
You will be joining ICAEW as a member when you have:
- Passed or received credits for all of the ACA exams
- Completed your Practical Work Experience* requirements (a minimum of 450 days unless you were eligible for 300 days)
- Completed all professional development steps
- Completed your Ethics and Professional Scepticism** requirements which includes achieving a minimum of 70% at the ethics assessment
- Completed your training agreement with an ICAEW authorised training employer or principal
- Completed and submitted your online training file with the final sign-off
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You must complete a minimum of 450 days of technical work experience before applying for ACA membership.
You can start the ACA independently and sit all the exams except the Advanced Case Study (ACS) outside of a training agreement. You will eventually need to find an authorised firm to employ you under a training agreement in order to gain your 450 days experience and be able to sit the ACS exam during your third year of training.
You need to complete an ACA training agreement with one of the 2,850 authorised training employers around the world to gain your training experience.
Your work experience must be recorded as part of your ACA training records throughout your training period. Your employer should review and sign off your training records with you at least every six months as part of your six-monthly reviews. This will ensure that you are on track to qualify as an ACA and to enter ICAEW membership.
Your TWE must relate to at least one of the following six technical categories:
- Accounting
- Financial Management
- Audit/Assurance
- Insolvency
- Taxation
- Information Technology
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During your Structured Training in Ethics (STE) and your Initial Professional Development (IPD), you will develop a range of essential skills needed in your working life. These must include the important concept of ethics and ethical behaviour.
The Structured Training in Ethics programme is a web-based learning and assessment programme. It involves interactive case studies, assignments, scenarios and self-test questions and is divided into three stages. Each stage takes a couple of hours. There is no pass mark but all stages of the STE programme must be completed as part of the ACA qualification.
