To become an ICAEW Chartered Accountant, you need to train for and successfully complete the three components of the ACA. ACA training is done on-the-job, so you will be able to earn a salary while studying for a globally-recognised qualification. This article gives an overview of the qualification and how to become a chartered accountant.

Successful ICAEW Chartered Accountants need the right mix of knowledge, skills and on-the-job experience. To follow in the footsteps of our members and become an ICAEW Chartered Accountant, you will need to complete our globally-recognised ACA qualification.

The ACA has three components that have been carefully designed to build on each other, integrating the three key themes of sustainability, technology and ethics throughout. This means that you will develop the skills and expertise you need as you progress through your training.

Professional skills and experience

Professional skills and experience is an essential part of ACA training. You will develop key transferrable skills while gaining professional experience putting what you are learning into practice.

Professional skills

Professional skills are about how you advance your career through improving yourself by learning and training. The skills you develop will prepare you to successfully handle a variety of situations that you will come across throughout your career.

ACA students are required to demonstrate proficiency in 25 skills across five key competency areas throughout their training. The five key competency areas are:

• Communication
• Critical thinking
• Emotional intelligence
• Leadership
• Professionalism

Professional experience

Professional experience is a key component of ACA training. You will need to gain and show evidence of at least 450 days’ work experience, which must be completed as part of a training agreement with one of our 5,000 authorised employers around the world. The agreement is separate to your employment contract and details the commitment both you and your employer have to you achieving the ACA qualification.

While you can start the ACA qualification on your own, securing an ACA training agreement with an authorised employer will mean you receive the highest standard of training and support from the start. Your employer will guide you through your ACA training and you’ll benefit from six-monthly reviews.

These regular reviews will give you the chance to discuss your progress through all components of ACA training with your employer. Once completed, you will record your practical experience in your online training file.

Specialised Learning

To achieve your career goals faster and stay at the cutting edge of new developments, you’ll tailor your learning to your individual development needs, completing a minimum of 30 units of Specialised Learning from a wide range of regularly updated interactive e-learning content.

Hosted on an interactive e-learning platform, Specialised Learning content features a blend of interactive activities, quizzes, videos, voice recordings and articles.

Specialised Learning courses cover four broad categories:

• Specialised technical content: This content builds on the technical aspects within the ACA exams, providing deep dives in areas such as tax, financial reporting and sustainability.
• Professional skills content: This content supports skills development, such as communication, curious thinking, project management and report writing.
• Sector specific content: This content gives you the opportunity to specialise in particular sectors, ranging from farming to financial services, charities and the public sector. A suite of courses focused on specific areas within these sectors, such as accounting, tax and other key areas.
• Emerging issues and updates: this content is updated regularly, providing real time relevant updates on key matters, covering topics such as tax updates, audit reform, sustainability and new corporate reporting standards

Business, finance and accountancy exams

The ACA exams cover a wide range of subjects, to enable you to develop a broad understanding across business, finance and accountancy.

They progress over three levels and are designed to complement the professional skills and experience you gain and Specialised Learning you complete throughout your ACA training. This means that you’ll be able to apply theory in the workplace right from the start.

If you are in an ACA training agreement your employer will guide you on the pace and order that you complete the ACA exams, and discuss professional tuition with you.

You can complete the ACA exams in any order but you will typically complete the Certificate Level before moving onto the Professional Level. You will then move onto the Advanced Level.

Don’t forget! If you are studying for, or have completed an accountancy, finance or business-related undergraduate degree, a master’s or professional qualification, you may be eligible to apply for credit for prior learning towards the ACA qualification. Visit icaew.com/cpl to find out more.

Certificate Level

• Six exams.
• Introduces the fundamentals of business, finance and accountancy.
• Each has a 1.5-2 hour computer-based exam
• Exams can be sat at any time.
• Can be taken in any order.
• Available as a stand-alone qualification – ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB).

Professional Level

• Six exams.
• Learn to apply technical knowledge in real-life scenarios.
• Each has a 2.5-3 hour exam.
• Exams can be sat in March, June, September and December.
• Can be taken in any order.

Advanced Level

• Two exams.
• Strategic decision making at a senior level.
• Real-life scenarios with increased complexity.
• Each has a 4-hour written exam.
• Exams can be sat in July and November.

Find out more

This is a snapshot of what training for our chartered accountancy qualification will involve. Visit careers.icaew.com to find out more about the ACA qualification and how it will help you develop into a business professional.