Chartered accountant: Entry requirements

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Chartered accountant: Kate Baker

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Entry is open to graduates of all disciplines and, while a large number have business-related degrees, other subjects are strongly represented, including science, maths, languages, arts and social sciences. A Certificate in Finance, Accounting and Business (CFAB) may also be a useful step between a degree and a training contract.

Although entry to the profession without a degree or HND may be possible, accountancy is a highly competitive industry and graduates/diplomates have greater opportunity to enter. Graduates are generally preferred to diplomates by the large employers. However, some employers do train students to do the Association of Accounting Technicians (AAT) Accounting Qualification as an entry requirement for ICAS.

There are three separate professional institutes of chartered accountants in the UK (as well as a number of other bodies awarding other accountancy qualifications). The three are:

Institute of Chartered Accountants in England and Wales (ICAEW) - Careers
Institute of Chartered Accountants of Scotland (ICAS)
Chartered Accountants Ireland (oversees both Ireland and Northern Ireland).

Entry regulations vary slightly between institutes. ICAS requires only a degree or the AAT Accounting Qualification while the ICAEW will accept three GCSEs and two A-levels or a 2:1 or first class honours degree (some employers will accept a 2:2). However, one of the most difficult parts of becoming a chartered accountant is securing a training contract with an employer approved by one of the institutes. Many firms will ask for a minimum of 260 UCAS points, although 300+ are frequently required, as well as a good degree and evidence of mathematical knowledge and ability. Numeracy skills are often tested as part of the selection process.

It is very helpful to have relevant pre-entry work experience, e.g. through vacation work, work placements or shadowing.

In addition to academic requirements, candidates will need to show evidence of the following:

general business interest and awareness;
self-motivation and commitment, in order to combine working with studying;
communication and interpersonal skills;
organisational and time management skills;
a methodical approach;
IT proficiency;
strong analytical and problem-solving skills;
numeracy;
leadership qualities and effective teamworking skills;
motivation and initiative;
integrity and trustworthiness.

Competition to enter the profession is tough and the selection process rigorous. It is best to start applying in the autumn term of your final year to ensure access to the widest range of opportunities as some employers have application deadlines at the end of October (although there will be vacancies available later in the year). Many firms attend recruitment fairs and hold presentations on campus. Take the opportunity to find out as much as possible about the job and training before applying, e.g. attend firms' short courses or open days.

For more information, see work experience and internships and search courses and research.