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Institute of Chartered Accountants in England and Wales (ICAEW)

Institute of Chartered Accountants in England and Wales (ICAEW)

Overview:

The ACA qualification from the ICAEW (Institute of Chartered Accountants in England and Wales) is considered to be a premium, gold standard accountancy qualification that qualifies you as a chartered accountant. ICAEW chartered accountants are always in demand and the ACA qualification equips students to perform at the highest levels of accountancy, business and finance.

The University of South Wales is recognised as an ICAEW Partner in Learning, working with ICAEW in the professional development of students. The University has a rich history of providing first class tuition for professional accountancy courses. We have been awarded PQ Magazine’s ‘Public Sector Accountancy College of the Year’ three times, and our students have won multiple awards, including awards for the highest marks in Wales.

Please see our 2024/25 professional accounting brochure for more details.

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Update to delivery of the ICAEW (Professional and Advanced Levels) tuition.
Our ICAEW (Professional and Advanced Levels) course will be gradually phased out during 2024/25 and 2025/26 to better suit the requirements of the market.

Students wishing to study the ICAEW Certificate in Finance, Accounting & Business (‘CFAB’) will be able to continue doing so by studying our internally-assessed CertHE Professional Accounting. However, students will not be able to progress to Professional and Advanced Level ICAEW study once these Levels complete by July 2026.

Our ICAEW Professional Level Year 1 tuition will run for a final time in 2024/25 and we will still be able to take new applicants onto this Level during that time. Module deliveries will run as follows:

September-December 2024: Financial Management (FM) and Business Strategy & Technology (BST)
January-June 2025: Tax Compliance (TC) and Business Planning Tax (BPT)
Our ICAEW Professional Level Year 2 & Advanced Level tuition will run for a final time in 2025/26 and we will still be able to take new applicants onto this Level until closure. Module deliveries will run as follows:

September-December 2024: Financial Management (FM) and Business Strategy & Technology (BST)
January-July 2025: Corporate Reporting (CR), Strategic Business Management (SBM) and Case Study
September-December 2025: Financial Accounting & Reporting (FAR) and Audit & Assurance (AA)
January-July 2026: Corporate Reporting (CR), Strategic Business Management (SBM) and Case Study

Online application form

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Entry Requirements

The most popular entry route to the qualification is a good undergraduate honours degree (1st or 2:1), but entry is also available to people with no qualifications, A-level school leavers, AAT graduates, apprentices, and members of other Chartered bodies. Trainees are ultimately required to enter a training contract with an approved employer.

Completion of the AAT qualification gives exemption from up to 5 of the ACA exams.

You must apply for student membership and exemptions (where applicable) with ICAEW before joining the course. Visit www.icaew.com for more information.

Please note that whilst this course does not require a DBS Check for entry, some professions will not consider candidates who have certain types of criminal convictions.    Therefore, if you have a criminal conviction and you are considering a particular career path we would recommend that you check with the relevant professional body or refer to their recruitment policy to make sure that your conviction will not disadvantage you.

WHAT YOU WILL STUDY

To qualify as an ICAEW Chartered Accountant students are required to complete:

  • 15 examinations
  • 450 days of technical work experience, which you gain by obtaining a training contract with an appropriate employer
  • Professional development (delivered through ICAEW or your employer)
  • Ethics and professional scepticism programme (delivered through ICAEW)

The ACA Qualification comprises three examination levels – Certificate, Professional and Advanced.

Certificate Level (Certificate in Finance, Accounting and Business, or ‘CFAB’)

CFAB is the entry qualification for ACA. Students are able to obtain exemptions from all six CFAB modules by studying our innovative, internally assessed Cert HE (Professional Accounting). Under this scheme, students study six modules between Sept-June.

CertHE Professional Accounting

Professional Level

  • Audit and Assurance
  • Tax Compliance
  • Financial Accounting and Reporting
  • Financial Management
  • Business Planning: Taxation
  • Business Strategy and Technology

Advanced Level

  • Corporate Reporting
  • Strategic Business Management
  • Case Study

At the Advanced Level students are required to study a number of technical areas, which are then examined together in the Corporate Reporting and Strategic Business Management papers. These papers aim to simulate real-life business and accounting practice environments, and the concept is taken further with a final case study examination.

How you will study (Professional and Advanced Level)

Professional and Advanced level papers will generally be taught for one day per week, with a block revision period at the end of each paper.

Typical tuition lengths:
Professional Level papers – 6-11 weeks plus revision block
Advanced Level – 14 weeks plus revision block

Knowledge is built up and exam question practice is undertaken week on week. Students build skills gradually and sustainably and are not absent from their workplace for long periods of time (which is particularly important for smaller accounting practices)

Teaching

Our tuition model offers students face-to-face classes week on week in the first instance. All classes are also broadcast live and recorded, so students not able to attend campus are able to access the sessions virtually (either live or on catch-up). This model gives students flexibility in accessing resources at a time that’s right for them, in line with their learning needs, styles and preferences.

Assessment

Professional Level: 
Modules are assessed by computer based exams. Each exam is two-and-a-half hours long, with the exception of the Financial Accounting and Reporting paper which is assessed by a three-hour exam.

Advanced Level:
Consists of two technical integration papers and a case study:

  • Technical integration papers are three-and-a-half hours long
  • Case study will be four hours long

COURSE DETAILS

Study resources
Our tuition fees include the provision of a wide range of ICAEW published materials per paper, including study manuals, question banks, course exams, unseen questions and mock exams.

Progress tests and mock examinations for each paper reinforce exam technique skills.

Student performance reports for sponsoring employers are available.

We regularly revalidate courses for quality assurance and enhancement
At USW, we regularly review our courses in response to changing patterns of employment and skills demand to ensure we offer learning designed to reflect today’s student needs and tomorrow’s employer demands.

If during a review process course content is significantly changed, we’ll write to inform you and talk you through the changes for the coming year. But whatever the outcome, we aim to equip our students with the skillset and the mindset to succeed whatever tomorrow may bring. Your future, future-proofed.

Additional Costs

As a student of USW, you’ll have access to lots of free resources to support your study and learning, such as textbooks, publications, online journals, laptops, and plenty of remote-access resources. Whilst in most cases these resources are more than sufficient in supporting you with completing your course, additional costs, both obligatory and optional, may be required or requested for the likes of travel, memberships, experience days, stationery, printing, or equipment.

CAREERS

ACA students enjoy early responsibility and excellent career progression. Many ACA students double their salary during training. Salaries for newly qualified ICAEW Chartered Accountants are on a par with careers in law and banking and many become partners or financial directors early in their careers, leading to a greater variety of opportunities.

ICAEW Chartered Accountants work at the highest levels of some of the world’s largest organisations; 80% of UK FTSE 100 companies have an ICAEW Chartered Accountant on their board.

Fees

Full time

Complete your degree in the shortest possible time and study flexibly – when and where suits you!
 

£7,250

You’ll study 9 modules in total (approx. 37 hrs/week).

Part time option one

Study for a degree whilst fitting it around your work, care and other life commitments.
 

£4,250

You’ll study 6 modules per year (approx. 25 hrs/week).

Part time option two

Take time to study and spread the tuition fees over a longer period – at no extra cost.
 

£5,500

You’ll study 4–5 modules per year (approx. 19 hrs/week).

Have a question about our professional qualifications?

Contact us about our professional qualifications

If you have any questions about our professional qualifications in finance and banking, please contact our customer services team.

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