Chartered accountants work in every part of the economy, providing advice and financial expertise that informs management teams of early-stage businesses and large organisations alike.
In this blog, we explain the steps the graduate needs to take to become a chartered accountant and answer some of the most frequently asked questions.
What does an ACA chartered accountant do?
Chartered accountants are fully qualified accountants that take on a broad role. In addition to regular accounting responsibilities, chartered accountants can also provide consulting and advice on specific commercial, business, and financial matters. For example
- Work on audits
- Financial management, e.g. cash flow forecasting and capital management
- Corporate finance, e.g securing investment, capital restricting, mergers and acquisitions
- Forensic accounting
- Business recovery and insolvency
- Tax advice and management
To qualify as a chartered accountant, the graduate accountant must first pass the ACA qualification which is delivered by the ICAEW (Institute of Chartered Accountants in England and Wales).
Related article | What is the difference between ACA, ACCA, and CIMA?
ICAEW: What is the ACA qualification?
The ACA qualification, offered by ICAEW, is an internationally recognised financial business qualification offered by many companies as part of their graduate training schemes. Training as an Associate Chartered Accountant opens the door to a huge range of exciting opportunities in every sector of business and finance.
There are several routes to qualify as an ICAEW Chartered Accountant. Training can be started after leaving school or college, after graduating from university or other professional accountancy qualifications.
The ACA qualification is made up of four elements which provide students with a combination of robust finance knowledge, accountancy skills and real-world business experience.
In terms of content, the ACA qualification involves:
- 450 days of practical work experience.
- 15 exam modules covering a broad range of topics including: financial management, law, assurance, and business strategy. The first six of which make up a stand-alone qualification, ICAEW Certificate in Finance, Accounting and Business.
- Professional development.
- Ethics and professional scepticism.
How long does it take for a graduate to become a chartered accountant?
The ACA qualification consists of three levels: Certificate, Professional, and Advanced.
You’ll also need to have 450 practical work experience days. As such, it’ll take around three years to complete the qualification.
Related | How to become a CIMA management accountant
How does the graduate complete the ACA qualification?
- Find your route
- Find an employer (come and have a look at Isosceles’ Graduate Accounting Scheme)
- Register as a student
- Apply for credit for prior learning
- Complete the four elements of the ACA
How to find an employer
At Isosceles, we provide our trainee accountants with the support required to tackle these challenging qualifications. We are currently supporting members of the team who are completing ICAEW and CIMA qualifications and will begin our 2023 round of recruitment shortly. Come and have a look Isosceles Finance Graduate Recruitment 2023.
Follow us on Twitter and join us on LinkedIn.
