Chartered public finance 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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Case studies

• Audit assistant: Charlotte Pitts-Humphries 

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The Chartered Institute of Public Finance and Accountancy (CIPFA) is one of the leading professional accountancy bodies in the UK and the only one that specialises in the public services. We have been successfully training accountants, financial managers and auditors for 125 years. Join The Chartered Institute of Public Finance and Accountancy.

The Chartered Institute of Public Finance & Accountancy (CIPFA)  is the main professional body, and its qualifications develop candidates as accountants and financial managers. An open learning system exists, as well as day release. Many employers offer paid study leave and structured training schemes. Trainees are also required to experience a range of finance, accountancy and audit functions in the workplace, normally guided by a qualified colleague. Fast-track routes are available to members of the Association of Accounting Technicians (AAT)  and The Consultative Committee of Accountancy Bodies (CCAB) .

In larger organisations, such as local government councils, trainees rotate between a number of departments to gain experience of areas such as financial planning, audit and financial systems, service-based accountancy and treasury management.

The CIPFA qualification is made up of three parts and takes approximately three years to complete. New candidates also have to comply with the Continuing Professional Development (CPD) scheme, which requires that they keep a detailed record of their professional experience. The qualification is structured as follows:

• Certificate level: financial accounting; management accounting; financial reporting; and financial management systems and techniques. Completion of this leads to eligibility for affiliate membership of CIPFA.
• Diploma level: audit and assurance; leadership and management; financial and performance reporting; accounting for decision making; governance and public policy; public finance; and taxation. Completion leads to eligibility for associate membership of CIPFA.
• The Final Test of Professional Competence: strategic business management and a finance and management case study. Completion of this leads to full membership of CIPFA.

CIPFA's pass rate compares favourably with other accountancy institutes and is often higher for graduate entrants. Students may re-sit failed examinations. Employers' attitudes to examination failures vary, but progress is generally dependent on exam performance.