Untitled - Qualifax

2009 - 2010
What is a
Chartered Accountant?
Chartered Accountancy –
The Premier Accountancy
Qualification
Chartered Accountants are members of Chartered
Accountants Ireland, a body originally formed by
Royal Charter in 1888. The Chartered Accountant
brand and its international recognition derives from
steadfast commitment to the highest standards of
integrity, professionalism and education.
Chartered Accountants Ireland is the largest
accountancy body based in Ireland and is the
leading voice for the accountancy profession in
Ireland. Of its 18,000 members, over 2,000 work
overseas. While men once represented the majority
in the Institute, today women comprise over 50%
of new students.
Chartered Accountancy is a global profession
with sister-institutes all over the world. The Irish
Chartered Accountancy qualification is one of
the few fully recognised in the U.S. In addition,
Chartered Accountants dominate their profession
in Australia, Canada and India. Chartered
Accountants Ireland is also working with other
Institutes to harmonise qualifications across the
European Union.
Chartered Accountancy provides the most dynamic
and comprehensive programme of theoretical and
practical training available. So it’s no coincidence
that Chartered Accountants are seen as the elite of
the financial profession.
Chartered Accountants Ireland is proud of its
reputation for excellence and integrity in the
delivery of the highest standards of professional
services. Members play a vital role in the future
direction of the Institute.
Chartered
Accountants can
work anywhere in
the world.
3
What is the Role of a
Chartered Accountant?
No other career offers such mobility
with Chartered Accountants able to
move freely and successfully across a
diverse range of sectors and roles.
There are two main career paths for the profession:
• 6
5% of Chartered Accountants make their career
in finance, business and industry.
• 3 5% of Chartered Accountants work in practice
(in accountancy firms), offering professional
services to a range of business clients.
Working in Business
and Industry
Chartered Accountants play a vital role in Irish
and international business and industry. Today’s
Chartered Accountant typically works in a dynamic
global environment in roles such as business
analyst, management accountant, financial
controller, corporate treasurer, tax advisor or
internal auditor. They are involved at the highest
level in virtually every sector from Healthcare to
Technology, Finance to Manufacturing.
Working in Practice
Chartered Accountants in practice provide
professional financial services to business.
Auditing, financial analysis, risk management and
advising on information systems and financial
structures are the primary services provided by
practising firms of Chartered Accountants.
Today, Chartered Accountants are also called upon
to advise on strategic issues such as corporate
governance, corporate finance and financial
control procedures as well as undertaking financial
advisory, liquidation and restructuring tasks. They
are also highly sought after to advise on the tax
implications of clients’ current activities and future
investment decisions.
Many major accountancy firms operate thriving,
high profile management consultancy and
advisory divisions. Chartered Accountants in this
field act as consultants on business strategy,
process re-engineering, human resources and
motivation project analysis, production and
financial control.
Working in Financial Services
Irish Chartered Accountants also make rewarding
careers in Financial Services. Chartered
Accountants working in this arena advise on risk
management, on raising finance, on the optimum
use of assets and on the choice of specialised
financial instruments. It is challenging work
4
– Chartered Accountants are constantly alert
to new market forces and changing market
trends – but the monetary rewards reflect
this responsibility.
In 8 of the Top 10 Irish Financial Services
companies, Chartered Accountants hold the
position of Chief Executive or Finance Director.
Global Opportunities,
Rewards & Prospects
A Global Qualification
Recognised and respected internationally, the
Chartered Accountancy qualification means that
Irish Chartered Accountants have true global
mobility. Indeed, over 2,000 Irish Chartered
Accountants work in more than 90 countries:
the most popular being the UK, Australia, USA,
Canada and the Caribbean. The qualification is an
outstanding entry point into business in any part
of the world.
Chartered Accountants Ireland has Mutual
Recognition Agreements (MRAs) with the
Chartered Institutes in England and Wales,
Scotland, Australia, New Zealand, South Africa,
Canada and Hong Kong. Chartered Accountants
Ireland is also the only Irish or UK body to have
a MRA in place with the American Institute of
Certified Public Accountants.
In addition to this, Chartered Accountants Ireland is
also the only Irish member institute of the Common
Content programme which is working to harmonise
accounting qualifications across Europe.
Great Rewards,
Strong Prospects
Even in the current challenging economic
climate, Chartered Accountancy remains a
highly prized qualification that offers rewarding
career opportunities. In recessionary times, the
need for prudent financial management and
business acumen is ever greater and the role
of the chartered accountant is as valued as
ever. In addition, they are uniquely positioned
to move across sectors to optimise their career
development and security.
Chartered accountants are certainly not immune
from present hardships and evidence suggests
that salary levels have dropped in the past year. The
“going rate” in Ireland for Chartered Accountants
varies widely depending on location and nature of
employment. Latest research suggests that newly
qualified Chartered Accountants can command
salaries in the range of €35,000 - €45,000 /
£30,000 – £40,000.
Chartered Accountants’ ability to establish
themselves in diverse and strategically important
roles make them an invaluable company asset.
Students beginning their studies this year can
reasonably expect to get their qualification as the
world economy recovers and will be well placed to
benefit from the upturn.
5
Becoming a
Chartered Accountant
Every successful Chartered
Accountant must have:
• g
ained the requisite amount of work experience
as required by Chartered Accountants Ireland,
usually as part of a Training Contract (or as
specified under the terms of the Elevation
Programme, see page 10)
• P
assed professional examinations
(CA Proficiency 1, CA Proficiency 2 and Final
Admitting Exam. For full details, see page 16)
• D
emonstrated competence
in Information Technology.
Your Starting Point Routes to Membership
The first thing to establish is which entry route you
will be following:
A.Graduate (business/non-business)
B.Postgraduate
C.Accounting Technicians
D.Elevation Programme
E. Other Routes
A. The Graduate Route
The majority of students that enrol with the
Institute are university graduates. The normal
period of experience under training contract
for university graduates is 3.5 years. All degree
holders from recognised 3rd level institutes are
eligible to study Chartered Accountancy. The
exemptions offered to graduates by the Institute
are differentiated in the following way.
I) Business Graduates
Business graduates already have a broad academic
foundation for further study in the technical
subjects required for professional examinations.
The range of exemptions offered from these
examinations reflects the content and level of the
degree obtained - lots of degrees gain an entire
exemption from CA Proficiency 1.
Business graduates are recommended to
participate in the 5 day induction course run in
September. The aim of the course is to equip
students with the relevant practical skills and assist
quick integration into the working environment.
II) Non-business Graduates
Many Chartered Accountants have qualified in
non-business related disciplines such as law,
computer science, engineering or arts. Chartered
Accountants Ireland encourages this, recognising
that their diverse backgrounds bring an invaluable
mix of skills and knowledge to the profession.
6
Last year, up to 15% of new entrants came from
non-business faculties. The first examination for
non-business graduates is CA Proficiency 1.
The programme leading to this examination, and
especially to the subject ‘Financial Accounting’,
assumes some prior knowledge of this subject. We
recommend therefore that students participate in
the 2 day pre-induction course in basic accounting,
in addition to the 5 day induction course
mentioned above.
B. Postgraduate
Business Graduates
Full-time, one year, postgraduate Masters in
Accounting (or equivalent) for business graduates
are offered at Dublin City University, University
College Dublin, Dublin Institute of Technology,
NUI Galway, Waterford Institute of Technology,
Letterkenny Institute of Technology, NUI Maynooth,
Athlone IT, Dundalk IT and at the University of
Ulster at Jordanstown.
Students who successfully meet the criteria on
these programmes are exempt from the entirety
of CA Proficiency 2 and begin their studies with
Chartered Accountants Ireland having already
completed much of their professional study and
examination requirements.
Non-Business Graduates
For non-business graduates, full-time one year
recognised Diplomas in accounting are offered
by Dublin City University, Dublin Institute of
Technology and the University of Ulster at
Jordanstown. Students who successfully meet the
criteria on these programmes are exempt from the
entirety of CA Proficiency 1.
Details of these postgraduate courses can be
obtained from the Department of Accounting
/ Finance at the respective bodies. The normal
period of experience under training contract
for such candidates is 3 years with a recognised
training organisation.
C. Accounting technician
(Direct Entry) Route
Chartered Accountants Ireland enjoys strong links
with our partner body, Accounting Technicians
Ireland. Those passing both years of the
Accounting Technician exams are eligible to join
CAP1, with possible exemptions from Financial
Accounting, Tax & Law for Accountants. There is
also a Direct Entry Route from school for those
wishing to become Chartered Accountants in the
shortest possible time.
The period of experience under training contract
for students through the Direct Entry route varies
between 5 and 5.5 years depending on whether
they complete the Accounting Technicians
Ireland Foundation Course on a part-time or
full-time basis. See Contacts Section (page 17) for
further information.
D. Elevation Route
For more information on this route, see page 18.
E. Other Entry Points
• mature students
• holders of HETAC/NVQ or equivalent awards
The procedure for such students is broadly
similar to that for graduates. In most cases there
is no automatic entitlement to exemptions.
Students must obtain a formal letter from the
Institute setting out the conditions under which
it will permit entry into a training contract, e.g.
exemptions and contract duration.
Prospective students who do not fall into any of
the above entry routes are typically:
• holders of other professional qualifications
7
What Does
Training Involve?
Student Services Unit
Training for students is run through the Student
Services Unit (SSU). The SSU provides professional
courses for students preparing for the Chartered
Accountant examinations. At present the SSU
caters for in excess of 5,000 students and draws on
a panel of 90 experienced lecturers across centres
in Northern Ireland and Republic of Ireland. These
centres offer a variety of course structures and
delivery methods to offer the most flexible and
modern educational experience.
Required Work Experience
The vast majority of those joining the Institute
each year as students commit to a Training
Contract with a Recognised Training Organisation.
The purpose of the required period of work
experience is to ensure that, prior to qualification,
members have gained adequate experience and
training in financial accounting and related areas.
Training firms see those students training with
them as a valuable resource and attach great
importance to their development. (Please note
that students must be over 17 years of age to enter
into a Training Contract.)
8
Training in Business
or Training in Practice?
A training contract may be pursued in three ways.
Through:
• an accountancy practice
• business / industry
• Pre-contract registration
For students following the traditional route
under contract, be it in practice or in business,
the firm undertakes to provide the student with
appropriate training and experience and with an
agreed financial package covering remuneration
and educational costs. In return, the student
commits to work with the firm for a fixed period
and to pursue the relevant courses.
The success of this supportive and structured
system is shown in the pass rates at Final
Admitting Examination (FAE). In 2008, for whole
part candidates at first attempt, 80% passed their
FAE, a pass rate significantly higher than that of
other accountancy qualifications.
Training in Business
An increasingly popular option for the training
contract is to pursue this via the Training in Business
route. Many students find training in business an
advantageous entry route, as ultimately 65% pursue
a career in this field. 88% of these students gained
either a pass or credit in the 2008 Final Admitting
Examination. Although this training experience is
different to that gained in practice, it is particularly
beneficial to students planning to make their
careers in industry, commerce and the public sector.
All essential areas of study (as listed under Training
in Practice) are also covered under this route.
Participating firms rarely offer pure auditing or
taxation experience, although students may have
the opportunity to be seconded to a practising
firm. Moreover, many firms have internal audit
and tax departments and students are often
introduced to specialised areas such as Treasury
and Management Accounting.
Training in Practice
Most students currently pursue this route.
Whether a student trains with a large or small
practice, they are exposed to areas such as:
• Financial Accounting & Reporting
• Business Finance
• Taxation & Tax Planning
• Auditing, Internal Control
& Corporate Governance
• Information Systems & Management
Pre-contract Registration and
Elevation Programme
There are situations where a student may not
wish to enter into a training contract at the
same time that they commence their studies.
As a Pre-Contract student, you can complete the
course and examinations up to and including CA
Proficiency 2, outside a training contract. However,
all Pre-Contract students must have entered into
a training contract prior to presenting for the Final
Admitting Examination.
The Elevation Programme allows more experienced
students the option to complete their studies
in full before commencing their experience
requirement. For more information see page 10.
Recognition of Prior
Work Experience
For mature students who are commencing their
studies, who may have relevant accounting
experience prior to entry into the training contract,
it is now possible to have such experience
recognised, thereby reducing the duration of the
training contract. The maximum reduction is 18
months and there are specific criteria that must be
met by the student.
Mentoring
Typically, a senior executive in the training firm
(practice or business) acts as mentor and undertakes
responsibility for the development of the student,
offering invaluable insight and experience.
Training Vacancies
Each year Chartered Accountants Ireland makes
available on its website a list of firms with
vacancies for students. Those wishing to join these
firms under training contract should consult the
list and make contact with the firms concerned.
Some firms do not include vacancies on the list
and confine their recruitment activities to autumn
presentations (sometimes known as ‘milk-rounds’),
at which they meet students at universities and
other educational institutions.
As the number of vacancies is limited, there is
naturally a degree of competition for places.
Students planning to join the profession should
therefore make contact with training firms as early
as possible.
‘Training Vacancies’ is available at
www.charteredaccountants.ie/careers
Chartered Accountants
earn some of the best
rewards in the market.
Details on the Pre-Contract facility may be
obtained from Caroline Bolster, Training Support
Unit Manager, on 01 6377325 or
at [email protected].
9
What Does
Training Involve?
10
The Training Package
Training in Practice
During the training contract most students
are given substantial periods of study and
examination leave (for which they are paid). The
recommendations for leave for course participation
and private study for those who enrolled in
autumn 2009 are given below (applies to firstattempt candidates). While exact amounts of
study leave may differ between organisations, all
training firms are obliged to allow time off to sit
the examination.
The training firm, in general, pays study and
tuition fees. While the Institute does not make
proposals relating to starting payments, it does
make recommendations as to the minimum
annual increments for examination success.
The Government also sets minimum rates of
remuneration. Guidance relating to increment
payments is published in the annual ‘Training
Package’ publication.
Examination
Weeks
CA Proficiency 1
4 weeks
CA Proficiency 2
6 weeks
Final Admitting
Examination
7 weeks
Training in Business & Elevation
Payment and conditions for students training in
business and under the Elevation Programme
(see page 10) reflects the norms in the firms
concerned. In many cases, these have been adapted
specifically to meet the requirements of Chartered
Accountants Ireland’s Training in Business Route
and involve study leave and support above the level
generally applicable to employees undertaking
external study.
Benefits and Services
for Students
Website
The student section of Chartered Accountants
Ireland’s website (www.charteredaccountants.ie/
students) contains useful details of the services
and support available to students, such as
information on exemptions, training vacancies and
exams. Students have password-controlled access
to the site and will receive text alerts in relation
to timetable changes etc. Students will also have
access to customised course material and
reading lists.
Student Societies
Students are encouraged to join the student society
that operates in their area. The societies run a
programme of social events such as charity balls,
casino evenings, table quizzes, soccer competitions
and guest speaker evenings. Furthermore, through
this network students can take part in post-exam
reviews and liaise with the Institute on matters
such as programme quality and training.
The Chartered Accountants Student Societies
Ireland is a network of the local student societies.
It liaises closely with the Institute on various
matters and represents Irish students at the Union
of European Accountancy Students.
11
Benefits and Services
for Students
Continuous Professional
Development (CPD) Courses
Library and
Information Services
Chartered Accountants Ireland provides a
comprehensive programme of support and training
to equip Chartered Accountants for working in a
dynamic and challenging environment. During
their training period all students are welcome to
attend the CPD courses and conferences at greatly
reduced rates.
Students are welcome to use our libraries in
Dublin and Belfast. We have an extensive range
of information and research resources
including books, periodicals, cds and access to
online databases. Our catalogue is available on
the publications section at
www.charteredaccountants.ie. Subjects covered
include Accounting, Corporate Governance,
Finance, Taxation, Management, Marketing,
Company Law and Information Systems.
The full range of our courses may be viewed online
at www.charteredaccountants.ie/cpd
Accountancy Ireland
Students receive complimentary copies of
“Accountancy Ireland”, the Journal for Chartered
Accountants in Ireland. As well as articles and
news items of professional interest, the magazine
contains a section devoted entirely to student
affairs. Examination dates and changes in
regulations and in syllabus are published in this
section. The magazine also forms part of the
required syllabus and examination questions may
be set on topics discussed in the journal.
See www.accountancyireland.ie
Advice from Chartered
Accountants Ireland
If there is doubt as to the interpretation of an
Institute regulation (e.g. in relation to service under
contract, study, stress or other personal issues)
students or their firms are invited to contact the
Education Department for informal guidance on a
confidential, one-to-one basis.
eNews
eNews is the accounting and general business
news bulletin produced by Chartered Accountants
Ireland every Friday.
It is circulated to all members and students alike
and is an invaluable resource for developments
within the profession.
12
Exams
Course Locations
CA Proficiency 1
Belfast, Cork, Dublin,
Galway, Limerick,
Waterford, Sligo.
CA Proficiency 2
Athlone, Belfast, Cork,
Dublin, Galway, Limerick,
Sligo, Waterford.
Final Admitting
Exam
Belfast, Cork, Dublin,
Galway, Limerick,
Waterford.
Exemptions, Education
and Training
Exemptions
For the range of exemptions offered to various
degrees please see pages 15-17 of this brochure or
alternatively check the website at
www.charteredaccountants.ie/careers.
These exemptions are offered to the holders of
degrees and awards granted by institutions in
Ireland or Great Britain.
Persons who have obtained their degree at the
honours level specified in the leaflet, are entitled
to exemptions on a subject for subject basis in CA
Proficiency 1.
Training Contract
When going through the process of securing
a training contract with a recognised training
firm in Ireland, students must firstly complete
an application for entry and exemptions for
consideration. The Exemptions Application form
can be obtained from the Chartered Accountants
Ireland or at www.charteredaccountants.
ie/students. Closing date for receipt of such
applications is the 31st July 2010.
On commencement of employment with the
recognised training firm, students must complete
in full the Student Registration Booklet. Recognised
training firms are issued with this booklet directly.
This booklet will contain both the training contract
and the application to register the contract with
Chartered Accountants Ireland. The closing date
for receipt of all applications to register a student’s
training contract is November 7th 2010.
Course Enrolment
The course programmes are run by the SSU at the
Institute. As well as registering a formal training
contract with the Institute, students must ensure
they enrol directly with Student Services regarding
their course programme by September 1st 2010.
The length of the contract will depend
on how you enter the system:
Route to
Qualification
Length of
Contract
Graduate
3.5 years
Post Graduate
(recognised)
3 years
Accounting Technicians
Direct from School
5 / 5.5 years
Qualified Accounting
Technician / mature / other
4 years
13
Outline of Examination Syllabus
Courses for Chartered Accountants Ireland
examinations commence in Autumn, with
exams the following Summer. There are three
levels of examination: CA Proficiency 1 (CAP1),
CA Proficiency 2 (CAP2) and Final Admitting
Examination (FAE). The revised FAE programme
is being launched in Autumn 2009 (with initial
exams in September 2010).
The aim of the educational programme is to focus
on the key competencies required of a modern,
newly qualified Chartered Accountant and,
crucially, to provide students with the transferable
skills to perform in an ever-changing business
environment. Students will be empowered to take
responsibility for their own learning and to create
an environment that encourages them to develop
critical and analytical skills, and to apply their
knowledge in unstructured situations.
Examinations
To qualify as a Chartered Accountant, students
must pass the Final Admitting Examination (FAE)
and most will have completed at least one other
examination by the end of their training.
14
Accounting in a Computer
Environment Programme (ACE)
In addition to successful completion of the
Institute examinations, students are required to
complete the IT programme and assessment called
‘Accounting in a Computer Environment’ (ACE).
The training method is self-study, using e-learning
materials that contain all information required
including specimen examination papers.
ACE details are issued to all newly registered
students in their Welcome Pack. Students entering
training contracts must successfully pass the
ACE programme prior to entry for the Final
Admitting Examination.
Starting point from a qualification
without exemptions
CA Proficiency 1
•
•
•
•
Financial Accounting
Management Accounting
Finance
Law for Accountants and Taxation I
t
CA Proficiency 2
•
•
•
•
Auditing & Assurance
Strategic Finance
& Management Accounting
Financial Reporting
Taxation II
t
FAE (Revised)
(Commencing Autumn 2009)
FAE Core: Comprehensive Case Study paper
FAE Core: Simulations Case Study paper
FAE Elective: Students choose one subject
from those offered:
• Advanced Auditing and Assurance
• Advanced Performance Management
•Advanced Taxation
EXEMPTION LIST
University/
College
Degree
CA Proficiency 1
Paper 1
Paper 2
Paper 3
Finance
Management
Accounting
Financial
Accounting
Paper 4
Taxation (ROI)
Taxation (NI)
CA Proficiency 1: Criteria (if any) for exemption outlined.
Law For
Accountants
All exemptions in CA Proficiency 1 are offered on the understanding
that the students gaining them have taken the relevant options in their
degree programmes and have passed these subjects without compensation
and, where relevant, gained the specific grade in their examinations therein
their college programmes. Details of agreed criteria may be obtained from
www.charteredaccountants.ie/students
1 Dublin City B.A. Accounting & Finance
✔
✔
✔
✔ (ROI)
✔ (ROI) Minimum 2ii Honours, provided students have a clear pass in the
University
relevant options.
BBS (Law Specialism)
✔ (ROI)
Minimum 2ii Honours, provided they have a clear pass in the Law Module
specified in the 4th year.
• Details of agreed criteria may be obtained from college staff.
–
–
–
–
National University B. Comm
✔
✔
✔
✔ (ROI)
✔ (ROI)
of Ireland, Galway
3 National University B. A. (Finance)
✔
–
✔
–
–
of Ireland, Maynooth
B.A Finance & Accounting
✔
✔
✔
✔ (NI)
✔ (ROI)
2
Minimum 2ii Honours or better and meet the agreed criteria between the
Institute and the University.
• Details of agreed criteria may be obtained from college staff.
B.Sc. Accounting
✔
✔
✔
✔ (NI)
✔ (NI)
(Single Honours)
Minimum 2ii Honours or better and meet the agreed criteria between the
Institute and the University.
LL.B. Law and Accounting
✔
✔
✔
✔ (NI)
✔ (NI)
(Joint Honours)
✔
✔
✔
✔ (NI)
✔ (NI)
B.Sc. Economics & Accounting (Joint Honours)
B.Sc. Language & ✔
✔
✔
✔ (NI)
✔ (NI)
Accounting (Joint Honours)
Minimum 2ii Honours or better provided same modules/options as B.Sc.
(Accounting) have been taken and meet the agreed criteria between the
Institute and the University.
Minimum 2ii Honours or better provided same modules/options as B.Sc.
(Accounting) have been taken and meet the agreed criteria between the
Institute and the University.
Minimum 2ii Honours or better provided same modules/options as B.Sc.
(Accounting) have been taken and meet the agreed criteria between the
Institute and the University.
4
Queen’s University Belfast
Minimum 2ii Honours – provided clear passes on first attempt in the agreed
options.
• Details of agreed criteria may be obtained from college staff.
5
✔
✔
✔
✔ (NI)
✔ (NI)
B.Sc. Accounting & Information Systems University of Ulster B.Sc. (Hons) Accounting
✔
✔
✔
✔ (NI)
✔ (NI)
at Jordanstown
University of Ulster B.A. Business Studies
–
–
–
✔ (NI)
✔ (NI)
at Magee College
(Accounting Specialism)
6 University College
B.Sc. Accounting
✔
✔
✔
✔ (ROI)
✔ (ROI)
Cork
B. Comm.
✔
✔
✔
–
✔
(ROI)
B.Sc. Finance
✔
✔
✔
✔ (ROI)
–
• Details of agreed criteria may be obtained from college staff.
Minimum 2ii Honours, without compensation, and meet the agreed criteria
between the Institute and the University.
• Details of agreed criteria may be obtained from college staff.
Minimum 2ii Honours or better without compensation, and meet the agreed
criteria between the Institute and the University.
• Details of agreed criteria may be obtained from college staff.
Minimum 2ii Honours – provided clear passes in the relevant college options.
Minimum 2ii Honours – provided a clear pass in the relevant college options.
Minimum 2ii Honours – provided a clear pass in the relevant college options.
–
–
–
–
Must meet the criteria agreed between the University and the Institute.
✔
– (ROI)
–
Must meet the criteria agreed between the University and the Institute.
MBS Management Information & ✔
Corporate Finance
Managerial Accounting Systems
HDip in Accounting & ✔
✔
Corporate Finance
Students are strongly advised to check Exemption details at www.charteredaccountants.ie/students as updates may have occurred since the publication of this document
15
University/
College
No.
Degree
Paper 1
Paper 2
Paper 3
Finance
Management
Accounting
Financial
Accounting
Paper 4
Taxation (ROI)
Taxation (NI)
CA Proficiency 1: Criteria (if any) for exemption outlined.
Law For
Accountants
All exemptions in CA Proficiency 1 are offered on the understanding
that the students gaining them have taken the relevant options in their
degree programmes and have passed these subjects without compensation
and, where relevant, gained the specific grade in their examinations therein
their college programmes. Details of agreed criteria may be obtained from
www.charteredaccountants.ie/students
University College B. Comm (Accounting mode)
✔
✔
✔
✔ (ROI)
✔ (ROI)
Dublin
B. Comm (All other modes)
Bachelor of Business &
✔ (ROI)
Legal Studies
Minimum 2ii Honours, provided students have a clear pass in the relevant options.
University of Dundee Bachelor of Accountancy
✔
✔
✔
✔ (NI)
✔ (NI)
BACC. (Hons)
Minimum 2ii Honours and meet the agreed criteria between the Institute and
the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
7
–
–
–
–
–
–
–
–
–
8
9
University of B.A. Law & Accounting
✔
✔
✔
✔ (ROI)
✔ (ROI)
Limerick –
Minimum 2ii Honours - exemptions will be considered on a subject by subject basis at CA Proficiency 1, provided same options in Accounting mode are covered.
Minimum 2ii Honours
Minimum 2ii Honours or better and meet the agreed criteria between the Institute and the University.
Bachelor of Business Studies
✔
✔
✔
✔ (ROI)
Minimum 2ii Honours, without compensation and meet the agreed criteria between the Institute and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
10 Dublin Business School
Minimum 2ii Honours or better and meet the agreed criteria between the
Institute and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
B.A. Accounting & Finance
✔
✔
✔
✔ (ROI)
✔ (ROI)
(Accounting Stream) (HETAC)
B.A. Accounting & Human
✔
✔
✔
✔ (ROI)
✔ (ROI)
11 National College of Ireland
Resource Management
(Accounting Stream)
Minimum 2ii Honours or better and meet the agreed criteria between the Institute and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
B.A (Hons) Accounting
✔
✔
✔
✔ (ROI)
✔ (ROI)
12 Accounting Technicians Ireland
Accounting Technician
– – ✔
✔ (ROI)
✔ (ROI)
Minimum overall pass 50% in relevant options.
• Details of agreed criteria may be obtained from college staff.
13 Institute of Public BBS (Accounting Stream)
✔
✔
✔
Administration
–
Minimum 2ii honours or better and meet the agreed criteria in the relevant options between the Institute and the University
• Details of agreed criteria may be obtained from college staff.
✔
✔
✔
✔ (ROI)
✔ (ROI)
14 Athlone Institute of B.A. Accounting Technology
Minimum 2ii Honours, without compensation, and meet the agreed criteria between the Institute and the University.
• Details of agreed criteria may be obtained from college staff.
15 Cork Institute Bachelor of Business Studies
✔
✔
✔
✔ (ROI)
✔ (ROI)
(Accounting)
of Technology
Minimum 2ii Honours or better and meet the agreed criteria between
the Institute and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
–
Students are strongly advised to check Exemption details at www.charteredaccountants.ie/students as updates may have occurred since the publication of this document
16
No.
University/
College
Degree
Paper 1
Paper 2
Paper 3
Finance
Management
Accounting
Financial
Accounting
Paper 4
Taxation (ROI)
Taxation (NI)
CA Proficiency 1: Criteria (if any) for exemption outlined.
Law For
Accountants
All exemptions in CA Proficiency 1 are offered on the understanding
that the students gaining them have taken the relevant options in their
degree programmes and have passed these subjects without compensation
and, where relevant, gained the specific grade in their examinations therein
their college programmes. Details of agreed criteria may be obtained from
www.charteredaccountants.ie/students
16 Dublin Institute B.Sc. Accounting & Finance
✔
✔
✔
✔ (ROI)
✔ (ROI)
of Technology
(D.I.T. Aungier St.)
Minimum 2ii Honours or better and meet the agreed criteria between
the Institute and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
(D.I.T. B.Sc. Business &
✔
✔
✔
✔
✔ (ROI)
Mountjoy Square)
Management
✔
✔
✔
✔ (ROI)
✔ (ROI)
17 Dundalk Institute of B.A. Accounting & Finance
Technology, Dundalk Bachelor of Business
✔
✔
✔
✔ (ROI)
✔ (ROI)
18 GMIT – Galway Studies (Accounting)
B.A. Accounting & Finance
✔
✔
✔
✔
✔ (ROI)
19 GMIT – Mayo
(Accounting/Financial Management)
Minimum 2ii Honours or better and meet the agreed criteria between
the Institute and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
Minimum 2ii Honours or better and meet the agreed criteria between
the Institute and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
Minimum 2ii Honours and meet the agreed criteria between the Institute
and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
Minimum 2ii Honours and meet the agreed criteria between the Institute
and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
Bachelor of Business Studies (Honours)
✔
✔
(ROI)
(Accounting/Financial Minimum 2.ii honours and meet the agreed criteria between the Institute
and the College in relevant options.
• Details of agreed criteria may be obtained from college staff.
21 Institute of B.A. Accounting
✔
✔
✔
✔ (ROI)
✔ (ROI)
Technology, Carlow Minimum 2ii Honours and meet the agreed criteria between the Institute
and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
20 Institute of Technology,
Blanchardstown
–
–
–
BBS (Finance Option)
✔
✔
✔
–
✔ (ROI)
22 Institute of
Technology, Sligo
Bachelor of Business
✔
✔
✔
✔ (ROI)
✔ (ROI)
23 Institute of Technology, Tallaght Studies (Accounting)
Bachelor of Business
–
–
✔
–
✔ (ROI)
24 Institute of Studies (Accounting)
Technology, Tralee ✔
✔
✔
✔ (ROI)
✔ (ROI)
25 Letterkenny Institute BBS (Accounting)
of Technology,
26 Limerick Institute
of Technology,
BBS (Accounting/Finance)
✔
✔
✔
✔ (ROI)
✔ (ROI)
Stream
–
–
–
✔ (ROI)
✔ (ROI)
BBS (Law & Tax)
27 Waterford Institute of Technology Bachelor of Business
✔
✔
✔
✔ (ROI)
✔ (ROI)
Studies (Accounting)
B.A. Accounting
✔
✔
✔
✔ (ROI)
✔ (ROI)
Minimum 2ii Honours and meet the agreed criteria between the Institute
and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
Minimum 2ii Honours and meet the agreed criteria between the Institute
and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
Minimum 2ii Honours and meet the agreed criteria between the Institute
and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
Minimum 2ii Honours and meet the agreed criteria between the Institute
and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
Minimum 2ii Honours and meet the agreed criteria between the Institute
and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
Minimum 2ii Honours and meet the agreed criteria between the Institute
and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff.
Minimum 2ii Honours or better and meet the agreed criteria between
the Institute and the University in the relevant options.
• Details of agreed criteria may be obtained from college staff
17
CHARTERED
ACCOUNTANTS
In June 2009, Chartered
Accountants Ireland launched
the Chartered Accountants
Elevation Programme, a new
entry route for the Chartered
Accountancy qualification, aimed
at experienced professionals.
Up to now there was a widely held view that the
window to become a Chartered Accountant was
limited to recent graduates who had studied
accountancy at third level, and for many ambitious
and able graduates who did not commence their
accountancy studies immediately after third
level, it was a ship that had sailed. However, the
Elevation Route changes all that. It will appeal to
thousands of graduates that have built up some
experience in the world of business and want to
take their careers to the next level. This exciting
new initiative is aimed at attracting experienced
graduates who would find the traditional
Chartered Accountancy route under a training
contract unviable at their stage in life.
18
Why is Chartered Accountants
Ireland offering this new path
to membership?
Chartered Accountants Ireland recognises that the
education and training needs of a newly qualified
graduate are very different from those who are in
the workplace for a number of years. Typically the
latter group has more responsibilities in their work
and personal lives; and as such a greater level of
flexibility is required.
While the Elevation Programme is undoubtedly a
significant development for Chartered Accountants
Ireland and marks a departure from our existing
programmes, the essential tenets of the Chartered
qualification will remain. As a student on the
Elevation Programme you will sit the same exams
as other students and will have to meet the same
experience requirements that pertain for others.
The Elevation Programme delivers the same quality
as the traditional Chartered Accountancy route;
however greater recognition of exemptions and
prior experience, modular education and greater
flexibility in how practical experience is gained will
make Chartered Accountancy the obvious choice for
those seeking a professional qualification.
At a Glance
• Entry Criteria: The Elevation Programme is aimed at graduates (including graduates from our sister body Accounting Technicians Ireland).
•
To be eligible to enrol through this route you
will evidence at least four years’ work experience prior to beginning your Chartered Accountancy studies.
•
You will not be required to enter into a training
contract. However when you wish to have experience recognised, you will need to identify a mentor in your workplace who will verify your experience.
• Flexibility: The new route will allow you to sit two
subjects at a time, up to and including Chartered Accountants Proficiency 2.
•
Experience requirements. The new route will require you to obtain the same quantum of relevant experience that applies to all those pursuing Chartered Accountancy studies i.e.
3 years for post graduates; 31/2 years for graduates and 4 years for Accounting Technicians.
•
As an Elevation Programme student, it is now possible to sit all exams prior to gaining your
relevant experience for membership. However
you are strongly advised to acquire relevant accounting experience prior to sitting the Final Admitting Examination.
•
It will be possible to claim credit for prior relevant experience on a “2 for 1” basis with a maximum reduction in training period of 18 months on the basis of three years relevant (and verified) experience.
• Chartered Accountants Ireland now recognise exemptions for 10 years from graduation date.
•
New time limit – Upon entering the Elevation Programme you will have a period of 8 years from
date of registration to complete your studies and to gain the requisite recognised experience to enable you to apply to become a member of Chartered Accountants Ireland.
Recognised Experience
Chartered Accountants play a vital role in Irish and
international business and industry. When called
upon to advise on strategic issues, academic or
theoretical knowledge is rarely sufficient. Therefore
all Chartered Accountants gain practical experience
before being admitted as a member.
The key difference between the Elevation
Programme and other routes to becoming a
Chartered Accountant is the manner in which
experience is gained, as there is no training
contract in place.
The Elevation programme facilitates:
•
•
•
•
Choosing the right environment in which to get experience
Moving between employers as interests / needs change
Taking breaks during your studies / experience
Completing all exams before gaining recognised experience
During the period of recognised experience,
you must demonstrate:
•
•
•
The acquisition of competencies in Financial
Accounting
The adoption of professional values,
An awareness of the practicalities of your business environment.
In addition you must demonstrate the development
of your personal and interpersonal skills, with an
in-depth level of experience taken from a cluster
of areas which include Finance, Taxation, Auditing,
Organisational and Strategic Business Management
and Information Technology.
Mentoring
In order to have your experience recorded it must
be signed off by a mentor on a six monthly basis.
Ideally, as a Chartered Accountancy student, you
will be mentored by a Chartered Accountant.
However, a mentor can be any accountant who
is recognised by the International Federation of
Accountants (most main accountancy bodies are
recognised). At the admission to membership
stage, a final sign off on all experience must be
made by an Irish Chartered Accountant.
You are best placed to select your own mentor,
but in instances where a suitable mentor cannot
be found, students should approach Chartered
Accountants Ireland to discuss their options.
Tell me more!
For more information, visit
www.elevationprogramme.ie
The amount of experience required is dependent on
educational background:
• Recognised Masters in Accounting: 3 years
• Undergraduate degree: 3.5 years
• Accounting Technicians Ireland qualification: 4 years
19
Further Education/
Qualifications
While qualifying as a Chartered
Accountant will be foremost in
your mind, Chartered Accountants
Ireland also offers a range of postqualification programmes. These take
a practical rather than a traditional
strictly academic approach to the
subject, tying the learning in the
classroom back to the everyday
experience of a Chartered Accountant.
Diploma in International
Financial Reporting Standards
Diploma in Forensic Accounting
The Executive Leadership Programme with INSEAD
is an intensive programme designed to assist
high potential individuals. It will expand strategic
thinking focusing upon personal leadership and
development goals and how to effectively achieve
these. The programme includes a 5 Day residential
in Fontainebleau on the INSEAD Europe Campus.
INSEAD are one of the world’s leading business
schools and they have tailored this programme
to the specific requirements of Chartered
Accountants Ireland members.
Forensic Accounting is one of the fastest growing
fields of accounting work worldwide. Developed by
Chartered Accountants Ireland, the new Diploma
in Forensic Accounting is designed to provide
participants with the core skills and knowledge
required to undertake forensic accounting
assignments. The first programme was launched
in July 2008 and booked out within two weeks and
plans are in place to offer this course on a regular
basis to meet the strong demand.
Diploma in Managing People
The course was first offered in 2004 with over
400 people having so far completed it, employing
International experts in the field. The course covers
all the standards including those issued in January
2008 in respect of goodwill, fair value of the
noncontrolling interest and step acquisitions. On
completion, participants should be able to:
This programme will take you through challenges
encountered by those in management positions
and will give you the tools to deal effectively and
confidently with these. The course uses small
groups and offers high tutor support, giving the
flexibility required to benefit both new and long
standing managers.
• Understand and explain the structure of the international professional and conceptual framework of accounting
• How to recruit the right staff with the set of
skills required
• Apply relevant International Financial Reporting Standards to key elements of financial reports
• Prepare group financial statements (excluding group cash flow statements including subsidiaries, associates and joint ventures
20
Executive Leadership Programme
Some of the core skills developed include:
• How to set goals, conduct effective appraisals and
keep your team focused on the end result
• Understand the personalities within your team
and how the approach you take can maximise
results and increase motivation
• Retain your best staff, how to reward, develop and recognise their achievements
Certificate in Directors Duties
The latest offering is the Certificate in Directors
Duties and Responsibilities, developed by Chartered
Accountants Ireland. The course runs over 5
evenings and will take participants through the
key areas of concern and relevance to Directors as
Board members. The course will involve a range
of subject matter experts from a wide range
of relevant fields including; ODCE, Irish Stock
Exchange, Insolvency Practitioners and Solicitors.
Chartered Tax
Consultant
Be a business consultant with market
leading tax skills.
What is a Chartered Tax
Consultant?
In May 2009, Ireland’s premier accountancy body,
Chartered Accountants Ireland launched a new
professional tax qualification, “Chartered Tax
Consultant”. This professional qualification builds
upon the competency focused new Chartered
Accountant syllabus. Chartered Tax Consultant
is a post qualification programme for Chartered
Accountants who want to develop skills as a tax
consultant and gain a professional qualification
in taxation.
Who is it for?
The Chartered Tax Consultant qualification will
be available to Chartered Accountants only. The
accreditation can only be used in conjunction
with the Chartered Accountant accreditation.
Qualification as a Chartered Tax Consultant will
guarantee an elite calibre of business consultant
with market leading tax skills.
What is involved?
Why Chartered Tax Consultant?
The Chartered Tax Consultant programme will be
taught in three stages. The first stage will be taught
through the FAE Tax Elective course of the Chartered
Accountancy examination programme. The next
two stages will be taught in one year following
the successful completion of the Chartered
Accountancy exams and FAE Tax Elective exam.
The Chartered Accountancy brand is instantly
recognised as the elite of the financial profession.
This brand quality is derived from the Institute’s
steadfast commitment to the highest standards
of integrity, professionalism and education. All of
these standards and more will be committed to
making the Chartered Tax Consultant qualification
worthy of the name Chartered. The Chartered
Tax Consultant qualification will be the standard
employers will look for as it offers a guarantee that
the candidate has practice experience and the skill
set to deal with tax issues in a commercial and
solution focused manner.
The first stage will be available to students sitting
the FAE Tax Elective exam in 2010 with the next two
intensive stages commencing in 2011.
The fact that you can build on achieving another
professional qualification while studying for your
Chartered Accountancy finals means that the
Chartered Tax Consultant programme will make
the best possible use of your time and focus.
Why is it different?
The programme is designed by Chartered
Accountants for Chartered Accountants. The
course will rigorously teach the skills of tax
planning through interactive and practical
learning, grounded in tax law and real life tax
planning issues. A team of leading tax experts will
devise and teach the course using cutting edge
learning facilities. Exams will be open book to
ensure that the core competency and commercial
problem solving skills are achieved by the
successful candidate.
Want to hear more?
Your first objective will be to successfully complete
your Chartered Accountancy exams. Information
and updates to the Chartered Tax Consultant
programme will be available on the Chartered
Accountants Ireland website and the national press.
Keep your mind on successfully completing your
Chartered Accountancy exams and we will help
keep your sights set on becoming a Chartered
Tax Consultant.
21
Contacts
Exemptions, Course Enrolment, Training Contracts
Student Services
Tel: (01) 637 7200
email: [email protected]
Training in business and practice/
Training vacancies/ pre-contract registration
Caroline Bolster
Tel: (01) 637 7325
email: [email protected]
Accounting Technicians Ireland
Naomi McGrath
Tel: (01) 637 7274
email: [email protected]
For general enquiries or to request
further information please email
[email protected]
22