Frequently asked questions

The ACA is a world leading professional qualification offered by ICAEW.

The ACA provides a combination of technical knowledge, professional skills and practical experience. It equips talented individuals to perform at the highest level in accountancy, finance and business.

Because the ACA is a professional qualification, you do your training as part of your job. On completion of the ACA you are accepted as an ICAEW member. You can then call yourself an ICAEW Chartered Accountant and use ACA after your name.

There are a lot of different types of accountancy, finance and business qualifications available. It can be hard to understand what makes each unique as they often appear to have very similar elements. There isn’t just one single thing which makes the ACA different. It’s a combination of factors that makes the ACA a world leading professional qualification.

• It has fully integrated components which work together so our students can put theory into practice, and can understand and use what they learn in the workplace throughout their training.
• We write our own learning materials and only test what is in them, so students are tested on their understanding and ability to use what they’ve learnt, not just their ability to memorise.
• We build a relationship with employers through our authorised training employer process. They meet strict standards which ensure quality, commitment and support for our students throughout their training.
• All 15 modules are compulsory so our students get a broad perspective with in-depth understanding across accountancy, finance and business. This allows specialism in a wide variety of areas throughout and beyond their training.
• The Professional and Advanced Levels have open book exams which mimics real life scenarios where students are presented with problems which they have to solve with the resources at hand. The Professional Level has prescribed texts with the exception of Business Planning: Taxation which is fully open book like the Advanced Level.

To train for the ACA qualification you need to apply for a training agreement with one of ICAEW’s 2,850+ authorised training employers around the world. The training agreement outlines the support that an ACA student receives from their employer, including paid tuition, study leave and mentoring. It also ensures that all ACA students receive the highest quality and standard of training possible.

You can also study the ACA qualification as an independent student without having an ACA training agreement and complete all the modules, although success will require highly developed knowledge, skills and experience in combination. To qualify as an ICAEW Chartered Accountant, you will need to complete all components of the ACA qualification with an ICAEW authorised training employer and also be accepted as an ICAEW member. Find out more about studying the ACA as an independent student.

You don’t need a background in accountancy or a business-related subject at university to become an ICAEW Chartered Accountant. You don’t even need to have maths at A-level or equivalent school-leaving qualification. The following are required and recommended qualifications:

• You will need at least two A2 levels and three GCSE passes, or their equivalents. Suitable grades at International Baccalaureate or equivalent school-leaving qualifications are also accepted.
• Most authorised training employers prefer a minimum UCAS tariff score of 280 or above (or international equivalents), covering both AS and A2 levels (many employers won’t accept qualifications in General Studies when calculating scores).
• 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.
• International students can find information on equivalent qualifications at naric.org.uk or from a local British Council office. The UCAS website ucas.ac.uk offers advice to help calculate tariff scores, and advice can also be found on the International Baccalaureate website ibo.org
• You can also apply for an ACA training agreement if you’ve successfully completed ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB). Find out more at icaew.com/cfab

Search for ACA training opportunities on our dedicated Training Vacancies website. You will find a variety of UK and overseas vacancies from employers including accountancy firms, commercial organisations, not for profit and the public sector.

You can register on the site, upload your CV and create a personal profile. Your profile can then be easily searched by employers recruiting ACA students.

You can also choose to receive regular information about new vacancies, internships and work experience placements.

You can train with many different types of employers.

Accountancy firms (also known as public practice) are one way to train to become an ICAEW Chartered Accountant. There are many training options – from small local practices through to the Big Four (PwC, Ernst & Young, KPMG and Deloitte).

You can also train in commercial organisations, from global financial institutions and multinationals to exciting entrepreneurial start-ups.

If you’d rather work in the public or not-for-profit sector there are numerous opportunities to become an ICAEW Chartered Accountant including government departments, local authorities, city councils and universities.

You can register as an independent student without having an ACA training agreement and complete all the modules, although success will require highly developed knowledge, skills and experience in combination.

To qualify as an ICAEW Chartered Accountant, you will need to complete all components of the ACA qualification, including three to five years practical work experience with an ICAEW authorised training employer and also be accepted as an ICAEW member.

Typically ACA students take between three to five years to complete the ACA training, although 93% complete their training in four years or less.

Yes. We have over 19,000 ACA students worldwide, training with one of our 2,850+ authorised training employers. 25% of our 2011 ACA students are based outside the UK. Find out where you can study around the world.

With more than 2,850 authorised training employers around the world, there are fantastic opportunities for international travel. ICAEW Chartered Accountants are globally recognised, in fact 90% of the top 100 Best Global Brands 2011* employ at least one ICAEW Chartered Accountant.
_{*ICAEW member data at January 2012, Interbrand Best Global Brands October 2011.}

You’ll gain practical work experience, develop your knowledge of accountancy, finance and business as well as develop your business ethics and professional credibility.

Each component is designed to complement what students learn in the other components. This means they put theory into practice, and can understand and use what they learn in real life scenarios.

ICAEW Chartered Accountants are known for their professionalism and expertise. Professional development prepares you to successfully handle a variety of different situations that you’ll encounter throughout your career.

The ACA qualification improves your ability and performance in seven key areas:

• Adding value
• Communication
• Consideration
• Decision making
• Problem solving
• Team working
• Technical competence

Ethics is more than just knowing the rules around confidentiality, integrity, objectivity and independence. It’s about identifying ethical dilemmas, understanding the implications and behaving appropriately. Ethics is integrated throughout the ACA qualification to develop your ethical capabilities and give you a framework to be able to justify any decisions you make.

The knowledge, skills and experience you build as an ACA student give you the opportunity to put theory into practice with on-the-job training. As part of your training agreement you will need to complete 450 days practical work experience (on-the-job training), which normally takes between three to five years. Your work experience will be one or more of the following:

• Taxation
• Insolvency
• Accounting
• Audit and Assurance
• Financial Management
• Information Technology

Each of the ACA modules is directly relevant to the work that you will do throughout your training. You will gain in-depth knowledge across a broad range of topics, allowing you to confidently progress through the qualification.

Credit for prior learning, or exemptions, is not restricted just to accounting and finance graduates. If you have covered the syllabus as part of your degree studies, or other professional accountancy qualification, your application will be considered.

If you want to find out if you are eligible to apply for credit for prior learning (exemption) there are full details of ICAEW’s CPL application process at icaew.com/cpl