“PLANNING TO DO ICAEW COURSE IN SRI LANKA? HERE’S ALL YOU MUST KNOW!”
ICAEW is among the top global accounting qualifications in Sri Lanka; the ICAEW qualification equips you with the expertise demanded in the practical financial world, thereby increasing your career scope. Over the years, the ICAEW academic path has become significantly popular in the region; yet, a large number of students are unaware of the academic requirements and structure. Through this guide, we aim to help students explore the essential academic details of the ICAEW course in Sri Lanka; students considering this path are advised to review the important information and plan their journey accordingly.
The ICAEW is a world-famous accounting body that rewards the ACA qualification (Associate Chartered Accountant); it opens the doorway to numerous career opportunities, as it is an advanced accounting certification. The ICAEW path drives you towards career stability and diversity through its strong academic curriculum, which consists of three academic levels. To learn more about this curriculum in-depth, read the blog ahead and find clarity.
WHAT IS AN ICAEW?
ICAEW stands for the Institute of Chartered Accountants in England and Wales. It is a credible and globally acknowledged accounting body that offers the ACA (Associate Chartered Accountant) qualification, to be precise; the qualification has a high career scope and value in several roles, such as business advisory, finance leadership roles, audit, and finance; employers from different industries and sectors hire professionals with this value-adding credential.
ELIGIBILITY AND ENTRY REQUIREMENTS
To enroll in the ICAEW course, students must meet the entry requirements, which consist of a certain academic threshold; here are the entry routes that students can follow:
- The minimum academic requirement to walk on the path of ICAEW in Sri Lanka is UK A-Levels or equivalent school qualification; students should at least meet this criterion.
- Aspirants who have advanced professional qualifications like ACCA and CIMA are also welcome to this qualification.
- Other than that, candidates with acknowledged professional experience may also qualify to enter this academic journey.
ICAEW EXAM STRUCTURE
The ICAEW (ACA) qualification comprises three academic levels known as the certificate level, professional level, and advanced level; each level consists of certain exams. Explore the academic breakdown of the qualification given below:
1: CERTIFICATE LEVEL
This is the foundational level of the qualification that consists of six papers; the exam duration for each paper is 1.5 hours, and the passing ratio is 55%. The modules at the certificate level are as follows:
- Accounting
- Assurance
- Business, Technology & Finance
- Law
- Management information
- Principles of Taxation.
2: PROFESSIONAL LEVEL
It is the second and an advanced level than the foundational one; it consists of six papers that examine an aspirant’s applied knowledge, each exam is for 2.5-3 hours, and the passing ratio is 55%. The modules of the professional level are given below:
- Financial Management
- Business Strategy
- Tax
- Management
- Financial Reporting
- Audit & Assurance.
3: ADVANCED LEVEL
This is the most advanced level of the qualification that consists of 2 applied exams and one case study; these exams require aspirants to use their technical, professional, and analytical skills. The modules of this advanced level are listed below:
ICAEW CAREER SCOPE
The career scope with the ICAEW course is high in Sri Lanka; with this credential, the chances of global job mobility are enhanced, and aspirants are allowed to expand their career internationally. Qualified ACA certificate holders can take on jobs in risk advisory, management, taxation, corporate finance, and consulting; it is a progressive qualification that can help you secure leadership roles in these departments, respectively. The top employers hiring these graduates are Global firms, Big Four accounting firms, MNEs, etc; hence, it is safe to say that with this credential, your career prospects are strengthened.
CONCLUSION
The ICAEW course is a globally acknowledged academic path that primarily focuses on strategy development, finance, and accounting; the qualification comprises three academic levels, each of which consists of numerous modules. The qualification remains committed to providing quality education and preparing aspirants for the practical world; the career prospects are wide and progressive, and can help you secure leadership roles if your experience is credible.
FREQUENTLY ASKED QUESTIONS
Q1: Can I study for ICAEW in Sri Lanka virtually?
Answer: Yes, many online learning providers offer virtual academic guidance and support for ICAEW in Sri Lanka, such as Mirchawala’s Hub of Accountancy; aspirants can enroll in such courses and make themselves academically competent.
Q2: What is the estimated timeframe for completing the ICAEW academic journey?
Answer: The timeframe of completion of this qualification entirely depends on an aspirant’s academic competencies; however, it is estimated to take between 3 and 5 years.
Q3: Can I study and work alongside while doing ICAEW in Sri Lanka?
Answer: It is recommended to work while studying ICAEW; note that the work should be relevant to the qualification so that you can also use it as your work experience for academic requirements.
