Chartered accountant : Training

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1. Job description
2. Salary and conditions
3. Entry requirements
4. Training
5. Career development
6. Employers and vacancy …
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• Chartered accountant: Kate Baker

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There’s never been a better time to train as a chartered accountant (CA). The services of a CA are always in demand and employers all over the world understand that being ICAS trained means having the all-round business acumen that’s needed in today’s global business environment.

Training to be a chartered accountant involves undertaking a training contract with an employer approved by one of the institutes. This typically lasts three years (up to five years for the vocational route) and combines initial professional development (IPD), 450 days of technical work experience, a structured ethics component and various stages of exams.

The structure of the exams and methods of training delivery vary slightly between the institutes. They may involve intensive blocks of time or shorter courses spread over a longer period. The qualifications cover a similar syllabus and there are a variety of exemptions for qualifications already held. For example, the Institute of Chartered Accountants in England and Wales (ICAEW)  syllabus covers:

• financial management;
• financial accounting;
• financial reporting;
• audit and assurance;
• taxation;
• business strategy;
• management information;
• accounting;
• law;
• assurance;
• principals of taxation;
• business and finance.

Preparing for chartered accountancy examinations is likely to be a demanding learning experience and candidates need to be very focused for the duration if they are to succeed.

The majority of chartered accountants train in firms of accountants (public practice). However, there are now also training contracts available in commerce, industry and the public sector. The exams are the same and only the practical experience differs.

Employers will also provide in-house training on technical and general skills to help staff perform well in their job. Chartered accountants must keep up to date with technical and business issues, so there is a strong emphasis on continuing professional development (CPD) after qualification.

All chartered accountancy qualifications have equal status and are equally recognised, and all lead to the designation 'chartered accountant'. Candidates who qualify through Institute of Chartered Accountants of Scotland (ICAS)  or Chartered Accountants Ireland  receive the designation CA (Chartered Accountant) while those who qualify with the ICAEW are designated ACA (Associate of the ICAEW).