Experience the unexpected - Become an ICAEW Chartered Accountant - ICAEW - ICAEW Careers
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ICAEW
GRADUATE CAREERS
Experience
the unexpected
Become an ICAEW Chartered Accountant
More than you’d imagine
icaew.com/careers
ICAEW CONTENTS
Contents
Different industries. Different causes. About us
Different possibilities. There’s a lot to Who are we and what do we do? 2
explore out there for a curious mind. Why choose us? 4
An ICAEW qualification is the perfect
way to take yours further, in the What you need to know
directions that really fascinate you. Who can do ICAEW’s ACA qualification? 6
What skills are employers looking for? 7
This guide will explain the world of
What is the training and exam schedule? 8
chartered accountancy and how to
begin your journey into it. Your application
What are the ACA entry requirements? 11
It might even uncover some things
you didn’t know about the profession. How do you become an ICAEW Chartered Accountant? 12
What you can look forward to
Look beyond the numbers, and you’ll
find innovators, explorers, and the Where can you work? 14
thinkers who know there’s always a What can you earn? 15
better way. Because there’s a lot more
Next steps
to chartered accountancy than you
may think. Get prepared 17
2 1
ICAEW GRADUATE CAREERS
Who are we and what do we do? Push boundaries
‘It’s the journey to becoming a
We’re ICAEW, a world leading professional
chartered accountant that is
membership body.
most valuable. It will equip
We provide qualifications and professional development, share our knowledge, insight and technical you to handle an array of
expertise, and protect the quality and integrity of the accountancy and finance profession. We
believe that accountancy can be a force for positive economic change across the world. challenging projects.’
Through us, talented graduates can take a qualification called the ACA (Associate Chartered
Accountant) to become ICAEW Chartered Accountants.
We’ve been at the heart of the accountancy profession since it began in 1880, to ensure trust in
business. The world has changed since then, and we’ve changed with it.
As well as ‘being good with numbers’, our 150,000 members are talented, ethical and committed
business professionals who are able to share knowledge and insight with governments, regulators Dara Job title: Organisational Transformation Consultant
and business leaders worldwide, to ensure we can all have a successful and sustainable future.
Latinwo Employer: Deloitte
ACA Degree: Economics & Management
AT A GLANCE
• ICAEW stands for The Institute of Chartered • We support over 150,000 members
Accountants in England and Wales. in 153 countries. Where around the world has the ACA taken you?
• We were created by a Royal Charter in 1880. • Over 27,000 students are currently taking
Two of the more exotic locations have been China and Colombia!
our qualifications.
• Offices in the UK, Beijing, Brussels, Dubai,
Hanoi, Ho Chi Minh City, Hong Kong, • Over 5,000 employers around the world
Jakarta, Kuala Lumpur, Shanghai work with us by offering our qualifications
Is there such a thing as a stereotypical accountant?
and Singapore. to their employees. My own career journey vividly illustrates that chartered accountancy is
no longer the preserve of people bent over dusty ledgers, but, rather, a
gateway to an exciting variety of career paths such as consultancy, finance
Why aren’t ICAEW Chartered and entrepreneurship.
Accountants your usual accountants? While I started in a tax department, the ACA gave me the confidence and
the competence to make the step up into transformation consultancy, a
ICAEW Chartered Accountants are innovators, explorers and thinkers. They can’t be confined to dynamic field in which I collaborate with clients to rethink and redesign the
number crunching, because the variety of work they do is too vast. Whether they’re helping a charity paradigms within which they operate.
raise money, advising governments, or sitting on the board of a multinational company, they need a
creative mind to find different solutions and think of new ways to move forward.
If that doesn’t challenge the stereotype of a chartered accountant, then I’m
By law anyone can call themselves an accountant. The title ‘ICAEW Chartered Accountant’ or the not sure what will!
letters ACA after their name means that they have completed the ACA qualification and undertaken
a minimum of three years in-depth training, passed a series of rigorous examinations, and are
committed to continuing professional development to keep their skills up to date. This reassures
people of their competence and makes them trusted professionals.
2 3
ICAEW ABOUT US
Why choose us? Share your vision
Quite simply, it will get you ahead in your career. ‘I only qualified five years ago
The ACA is recognised around the world; with it, you’ll and yet have almost complete
be seen by employers as someone who’s committed autonomy to run quite a big
to the profession, with a wealth of strategic level finance team and make
knowledge, skills and expertise. some big decisions.’
And in case that’s not enough, here are our top five reasons:
2 Patrick Job title: Head of Finance
The ACA prepares
you for leadership right Dobson Employer: Sofar Sounds
1 up to board level. That’s why
78 of the FTSE 100
companies have an ICAEW
ACA Degree: Chemistry
You’ll be supported Chartered Accountant
by our global network on their board.*
of over 150,000
Where do you work?
members and over
27,000 students. 3 I work for Sofar Sounds, an innovative entertainment start-up. A headhunter
ACA students have a approached me and I thought no one was doing anything similar to promote
high first-time pass rate of intimate music gigs in unique spaces, such as people’s living rooms. Joining an
80%, thanks to the quality
of the learning material early stage business at the beginning of its life was very cool.
and support they receive
throughout their
studies.**
Option 1
Have you always wanted to work at a start-up?
Option 2
I’ve always wanted to be an entrepreneur. And in the future, I’d probably set up
4 5 my own business, perhaps in the consumer industry or an advisory business
to other companies. For now, the next best thing is to get involved in another
With the ACA on business early and shape the future of it. The role pacifies my entrepreneurial itch.
90% of all ACA your CV you can work
students qualify in in any industry around
four years or less,
meaning fewer resits,
the world, so you can What’s next for you?
shape your career
and faster career around your
progression.***
At the moment I’m loving working for Sofar Sounds, but within two to five years
interests.
I’d probably think about setting up my own business, perhaps in the consumer
industry or an advisory business to other companies.
*ICAEW member data and FTSE 350 data at December 2016.
4 ** ICAEW Case Study exam statistics July 2018. 5
***Financial Reporting Council: Key Facts and Trends in the Accountancy Profession July 2018.ICAEW GRADUATE CAREERS ICAEW WHAT YOU NEED TO KNOW
Who can do ICAEW’s What skills are employers
ACA qualification? looking for?
It might surprise you to learn that you don’t need a degree in accounting, finance or business to It’s not just about your academic background. Your personal qualities are essential to potential
study for the ACA. This diagram shows a breakdown of what current ACA students have studied, employers too. Provide real examples of your abilities in the following areas and you’ll have a
most are from a non-accountancy background.* greater chance of success.
PEOPLE SKILLS – Communicate complex business information and advice in an
easy-to-understand way.
28%
Business &
28%
Accounting
16%
Arts TEAM WORKING – Knowing when to operate as a team member or a team leader is vital.
Management & Finance & Humanities
DECISION-MAKING AND PROBLEM SOLVING – Make sound, ethical business
Option 1
decisions by collating, analysing and interpreting data.
Option 2
13%
Science &
11%
Maths
3%Law
PROFESSIONALISM – Behave professionally and ethically at all times, identify the
right thing to do and stand by that.
Engineering
COMMERCIAL AWARENESS – Understand a business inside out, whether it’s yours
or someone else’s.
Is the ACA the only way to IT SKILLS – Develop well rounded technical skills and keep up to date with technology.
become chartered? FIND AN EMPLOYER TO TRAIN WITH
The qualifications offered by accountancy bodies differ both in terms of their content and Accountancy and professional services firms are one way to train for the ACA. You can also train in
career focus. Likewise, the level of support you’ll receive during training varies between large companies, small enterprises, charities and government bodies, among others. Each employer
accountancy bodies. has their own entry criteria, so make sure to check this before you apply.
At ICAEW, we don’t just provide excellent support during your training, but throughout
your entire career. What’s more, the ACA is an excellent qualification for business leadership; WHAT IF YOUR CHOSEN EMPLOYER ISN’T AUTHORISED BY ICAEW?
so if you aspire to reach the top, our qualification will help you get there. If a particular employer doesn’t offer the ACA, it’s worth mentioning your desire to train for the
qualification. Provided the employer can meet our training standards, the process for them to
become authorised to train you is simple, free of charge, and can take as little as three weeks.
*UK ACA students in a training agreement. Remaining 1% categorised as ‘other’.
6 7ICAEW GRADUATE CAREERS ICAEW WHAT YOU NEED TO KNOW
What is the training and
exam schedule?
There are four integrated elements to ACA training. With an emphasis on professional development
and nurturing skills, the qualification covers far more than technical accountancy. It’s designed
to develop leadership potential, and its content is continuously reviewed to ensure that you are
equipped to deal with the latest developments in the financial, accounting and business landscape.
PRACTICAL WORK EXPERIENCE ETHICS AND PROFESSIONAL SCEPTICISM
You need to record 450 days of relevant Ethics and professional scepticism are an
‘on-the-job’ work experience during your essential part of being a chartered accountant.
period of approved training. If you have You’ll follow a structured programme to ensure
completed an internship or placement year you know how to apply them – focusing on areas
with one of our authorised employers, you ETHICS AND such as integrity, objectivity and independence.
PRACTICAL WORK
may be able to count up to 12 months’ PROFESSIONAL
EXPERIENCE
experience towards your ACA training. SCEPTICISM
ACCOUNTANCY, FINANCE AND PROFESSIONAL DEVELOPMENT
BUSINESS MODULES Demonstrate your competence in seven key
There are 15 modules, each with its own exam. professional skills (such as communication,
These modules are staged across three levels: team working and decision-making) by
the first introduces you to core concepts; providing examples from your work experience.
ACCOUNTANCY,
the latter two build on your growing FINANCE AND PROFESSIONAL
technical knowledge and experience. BUSINESS MODULES DEVELOPMENT
8 9ICAEW GRADUATE CAREERS ICAEW YOUR APPLICATION
ACA modules What are the ACA entry
You will need to study and pass 15 exam modules requirements?
focused on different aspects of accountancy, finance
and business. These are split across three levels: In order to start the ACA, you’ll need to have two A-level passes (grades A*-E) or
1 equivalent. You’ll also need three GCSE passes (grades A-C/9-4) or equivalent.
ADVANCED LEVEL tests your understanding and strategic decision-making at a senior level.
PROFESSIONAL LEVEL explores ‘Business Planning’ and ‘Business Strategy and Technology’.
Employers typically expect grade B/5 in GCSE Maths and English and
CERTIFICATE LEVEL will introduce you to the fundamentals of accountancy, finance and business.
Once completed, this is a stand-alone qualification also known as the ICAEW Certificate in Finance,
2 over 112 UCAS points.
Accounting and Business (ICAEW CFAB).
Case Study he majority of employers expect a 2:1 in your degree. However this varies so it’s
T
Advanced
3 important to check each employer’s entry requirements.
Level
Strategic Business
Corporate Reporting
Management
Financial Accounting Business Strategy
4 Employers who offer ACA training welcome all degrees.
Business Planning
and Reporting and Technology
Professional
Level
Audit and Assurance Tax Compliance Financial Management
Recognition for prior
Certificate
Level
Accounting Management Information Principles of Taxation
knowledge and experience
Business, Technology You may be eligible for credit on some modules if you:
Assurance Law
and Finance
• studied accounting, finance or business at university; and/or
• worked for one of our authorised employers on an internship or placement.
Your employer will guide you on the pace and order that you complete the modules, except for the
Case Study, which you have to take last. This module will encourage you to solve problems, identify
If you’re unsure about your eligibility, contact cpl@icaew.com
ethical answers, and develop effective solutions.
Many employers offer ACA training agreements as part of their graduate scheme.
It is possible to start the ACA on your own as an independent student. However, you’ll still need
to secure a training agreement to acquire the necessary practical work experience.
You can find out more about the ACA at icaew.com/careers You can find out more about exemptions at icaew.com/cpl
10 11ICAEW GRADUATE CAREERS
How do you become an ICAEW Think big
Chartered Accountant? ‘People fail to realise that there
are accountants in all industries
The ACA qualification combines study and exams with paid ‘on-the-job’ work experience. You’ll need from the super-cool tech
to find an authorised employer to support you and enter into a training agreement with them. The
training agreement will outline the support you’ll receive during training and will include details start-up to global fashion brands
about tuition, study leave and mentoring.
and everything in between.’
In addition to giving you time out of the office to study, employers will pay for your tuition with
a dedicated provider and also pay for your exam and student registration fees. You’ll need to
successfully complete the ACA qualification before you can apply to become a member of ICAEW.
BECOMING CHARTERED - THE PROCESS
Carol Job title: Finance Director, Operations
Enter into an ACA Handa Employer: L’Oréal
Finish university
training agreement
with a degree in
any subject.
with an authorised ACA Degree: Latin American Studies
employer.
What inspired you to become an
ICAEW Chartered Accountant?
Complete a I always felt that with my strong languages background, adding a finance
combination of dimension would enable me to become a well-rounded business leader.
study, exams,
practical work Many CEOs and board members are chartered accountants and this has
experience always proved an inspiration to me.
and ethics.
How has your career been more than you’d imagined?
I believe that the role of an accountant has evolved and matured considerably
When you Once you’re
accepted you’re over the years and is set to continue that way for years to come. I’ve been
complete your
ACA training, an ICAEW Chartered able to combine both my creative and my more analytical sides to not just
you can apply to Accountant and you understand and interpret business results, but to add real business value to
be a member can use the letters ACA
of ICAEW. the organisations I represent.
after your name.
Did studying a languages degree benefit your ACA training?
I trained to become an ACA with a zoologist, a geographer and a computer
scientist amongst others and we all have something very different to bring
View current vacancies with authorised employers at to the finance community.
icaewtrainingvacancies.com
12 13ICAEW GRADUATE CAREERS ICAEW WHAT YOU CAN LOOK FORWARD TO
Where can you work? What can you earn?
You can’t confine our chartered accountants to number crunching at the desk, because the variety Trainee and qualified chartered accountants can expect extremely competitive salaries.
of work they do is so vast. Your ability to think big and use your imagination to solve problems
These are average figures that include qualified chartered accountants with substantial experience.
is needed in every part of the economy, in all types of businesses. So, you really can work in any
However, even at the start of your career, you can expect to receive an attractive salary.
industry that fascinates you.
ICAEW Chartered Accountants help make a positive impact by creating strategies, and
providing financial expertise all around the world. Here are just a few of the things you can
do with the qualification:
is the average graduate
£30k
FOLLOW YOUR CURIOSITY *
starting salary for Accounting
Fashion. Sport. Media. Tech. Whatever the sector, they need the big ideas of a chartered
and Professional Services.
accountant. Your vision can delve into a vast range of exciting challenges, from helping to launch
a ground-breaking piece of new technology, to deciding whether to invest in a new start-up.
CHANGE LIVES
Chartered accountants play a key part in helping charities raise, and effectively spend, funds that can
£51k
is the average salary for a newly qualified **
save lives and change the world. If you want to make a difference while making a living, then you can
ICAEW Chartered Accountant with
use your talent to support a cause you’re passionate about.
0-2 years’ experience.
REACH THE TOP
The confidence to push boundaries and think outside the box helps chartered accountants grow as
business leaders, and sets them apart from the rest. It’s no surprise that you’ll find ICAEW Chartered
Accountants as CEOs of multinational companies.
£108k
EXPLORE THE WORLD **
Chartered accountants are explorers of ideas, solutions and the world. Recognised as a premier
is the average global member
business qualification in 153 countries, the ACA is your passport to take your career wherever you salary across all sectors.
want to go.
MAKE A GREATER IMPACT
Help run the finances of government departments, the NHS, or universities. Chartered accountants
help public organisations make important decisions that help shape the world and its future.
£134k
is the average global member salary **
for those working in business, but it’s
MOVE WITH THE BIG CHANGES
not the limit.
From Brexit to big government policy changes, chartered accountants are helping all types of
organisations move with the important issues that are shaping our world of today and tomorrow.
So, you can be part of something bigger.
*High Fliers: The Graduate Market in 2018.
14 **Indicative based on mean averages of specified salary bands - Member profile response 2018. 15ICAEW NEXT STEPS
Change the world Get prepared
‘My clients are far ranging.
Now that you’ve explored the world of chartered
From a partner who sits on the
accountancy and all the opportunities it has to offer,
board of PwC to Michael Dapaah,
you’re ready to take the next steps:
the artist who came out with
the global hit Man’s Not Hot.’
1. RESEARCH
Visit our website icaew.com/careers to find out more about the ACA.
While you’re there, you can also sign up to our newsletter to
receive employability tips, job updates and information about
careers in accountancy.
Alieu Job title: Head of Partnerships You can also hear from our members and learn about the different
routes open to you.
Fofanah Employer: The Foyer Federation
And don’t forget to take a look at our YouTube channel too
ACA Degree: Business & Management youtube.com/icaewcareers
Why did you choose to work in the charity sector? 2. CHOOSE
I had a strong bond with The Foyer Federation before I knew about the role. Now you’re ready to start looking for an employer.
Meeting the senior management team and hearing the difficulties the charity Try to start your search early because most organisations advertise
faced and the vision of where they were going connected deeply with my their opportunities up to a year in advance of the start date.
sense of adventure, opportunity and teamwork.
Search our job board, icaewtrainingvacancies.com, for the latest
jobs involving ACA training. You can also sign up for updates and
What do you do alongside your day job? job alerts by creating a profile here.
I coach professionals, entrepreneurs and creatives on how to be effective
leaders at work and in their personal life. I use techniques from a school of
psychosynthesis leadership coaching. 3. KEEP IN TOUCH
ICAEW Careers
Why did you choose a career in chartered accountancy?
@ICAEW_Careers
I knew it had high earning potential, and I also wanted to refine my
ICAEW Careers
commercial awareness and analytical skills.
icaew_uk
16 17There are over 1.7m chartered accountants and
students around the world − talented, ethical and
committed professionals who use their expertise to
ensure we have a successful and sustainable future.
Over 150,000 of these are ICAEW Chartered
Accountants. We train, develop and support each one
of them so that they have the knowledge and values
to help build local and global economies that are
sustainable, accountable and fair.
We’ve been at the heart of the accountancy profession
since we were founded in 1880 to ensure trust in
business. We share our knowledge and insight
with governments, regulators and business leaders
worldwide as we believe accountancy is a force for
positive economic change across the world.
www.charteredaccountantsworldwide.com
www.globalaccountingalliance.com
ICAEW
Chartered Accountants’ Hall
Moorgate Place
London EC2R 6EA
UK
T +44 (0)1908 248 250
F +44 (0)1908 248 260
E careers@icaew.com
icaew.com/careers
ICAEW Careers
@ICAEW_Careers
ICAEW Careers
icaew_uk
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