INTRODUCTION:

ICAEW qualification stands for ‘Institute of Chartered Accountants in England and Wales’; it is a well-known and globally acknowledged certification for accounting or finance professionals. This qualification adds value to the academic and professional profile of the aspirant. It equips students with technical skills, academic knowledge, and practical exposure, which are highly valued and sought by employers. These skills and knowledge about technology and industry norms prepare the student to work in diverse sectors as well as industries, for example, finance sectors, accounting sectors, banking, and business sectors, etc.

BENEFITS OF THE ICAEW QUALIFICATION:

There are numerous benefits of the qualification, the topmost benefit of which is having numerous career pathways. Students usually tend to select a qualification that opens the gate to various career opportunities, job security, and financial stability. If you are a student with the same demands, ICAEW is the right choice for you. To know more benefits of the qualification read the blog ahead:

1. Offers Global exposure, as the qualification is recognized and acknowledged all around the world, this opens the gateway to international job opportunities, especially in Asia, Europe, the Middle East, and Africa.
2. This qualification offers a progressive career; with the right number of skills, knowledge, and experience, you can get top roles in the accounting and finance sector. For example: CFO, financial director, etc.
3. The qualification concentrates on professional development or advancement, through continuous professional development programs. The academic knowledge, CPD, and technical skills help you achieve a promising career.
4. After becoming a member of ICAEW, you may join the global network, through which you can connect to professionals, employers, and colleagues around the world. This will eventually increase your PR and give you global exposure, partnerships, collaborations, and international job opportunities.
5. As the qualification is considered one of the top accounting and finance qualifications, it will enhance your professional credibility.

CAREER PATHWAYS OF THE QUALIFICATION:

ICAEW qualification opens the pathway to various career opportunities in different sectors and industries worldwide, which include public practices, the corporate sector, government, non-profit organizations, entrepreneurial opportunities, etc. Professionals with this qualification can work in financial advisory, taxation, business consulting, audit and assurance, etc. They can also avail themselves of top managerial positions like CFO, internal auditor, etc., with their skills and professional achievements. If the student is willing to become an entrepreneur, they can also start a consultancy firm and provide their services. Professionals with this qualification can also become teachers, offering training sessions and webinars of the related courses to the aspirants of accounting and finance.

REQUIREMENTS FOR ICAEW QUALIFICATION:

Zimbabwean students willing to acquire this qualification need to fall in this category to become eligible for the qualification:

Educational Requirements:

Students who don’t have any prior qualification in the relevant field can join the qualification of ICAEW from the beginning. However, students who have a prior degree in accounting or finance can start their journey to this qualification from a bit more advanced level. They may apply for exemptions from certain exams at the beginning level of the program. However, if you don’t have a degree in any field, you can still avail yourself of the qualification, starting your journey from the beginner level of the program.

Training contract:

To complete this qualification, you also need to complete a training contract with an approved employer by the ICAEW body. This contract usually includes 3 to 5 years of gaining practical work experience with a reliable employer, working under several accounting and financial roles.

Examination protocol:

There are a total of 15 exams for this qualification; the exams are divided into three levels, namely, certificate level, professional level, and advanced level. The certificate level is the foundational level of the qualification, which includes modules in law, accounting, and management. The second level is the professional level; it is a step ahead of the previous level. It consists of modules covering areas like audit, financial management, and taxation. The advanced level is the last level of the qualification; it focuses mainly on strategic issues and professional judgment. This level is completely based on real professional scenarios.

Practical experience:

During the training contract, you will need to complete at least 450 days of relevant work experience, covering a wide range of accounting skills during this period. The work experience should be recorded for proof. Practical experience is required in ICAEW qualification and cannot be skipped.

Ethics Module:

The qualification also demonstrates the importance of ethical and professional standards; hence, the students need to complete the ethics module to complete the qualification.

CONCLUSION:

The ICAEW qualification is one of the top qualifications in accounting and finance; it is acknowledged, rewarded, and valued in the accounting sector worldwide. The qualification opens the door to various job opportunities around the world. Professionals with this qualification can work in diverse industries and sectors. This qualification consists of 15 modules; these modules prepare you with academic knowledge, technical skills, and ethical modules, preparing you for the challenging world of the accounting sector. Required work experience of the qualification gives you exposure to the professional world and is quite helpful in future endeavors.

FREQUENTLY ASKED QUESTIONS:

Q1: What is the ICAEW qualification, and why should I pursue it?

Answer: The ICAEW qualification is one of the most prestigious, globally acknowledged qualifications in accounting. It prepares you with technical skills, academic knowledge, professional and ethical considerations, and relative work experience. It opens the door to local and international career opportunities, offers continuous professional development programs, and provides progressive careers in accounting, finance, and business sectors.

Q2: How long does it take to complete the ICAEW qualification?

Answer: Usually, the qualification takes around 3 to 5 years to complete, the time of completion may vary from student to student depending upon exam successes, study pace, training contract, etc. If following the standard route and with devotion and concentration, students can get qualified within the time period of 3 years as well.

Q3: Can I start the ICAEW qualification without a university degree?

Answer: Yes, you are still eligible for the qualification of ICAEW even without a university degree. You can start your academic journey from the initial level, also known as the certificate level of the qualification.