The ICAEW Chartered Accountant qualification, the ACA, is one of the most advanced learning and professional development programmes available. It is valued around the world in business, practice and the public sector.
Chartered accountants are at the very top of the world’s most respected and successful businesses, across every sector.
Their knowledge, skills and experience give them leading edge expertise that can be applied to a diverse range of business challenges to help businesses to innovate and grow.
The ACA qualification has four key components that you need to successfully complete in order to become a qualified ICAEW Chartered Accountant.
The three components are undertaken as part of your training contract with an approved ICAEW-training provider. To gain the ACA qualification, you need to pass 15 papers across the Certificate, Professional and Advanced Levels which are provided by an ICAEW Partner in Learning such as the EIMF.
Made up of six modules, the Certificate Level introduces the fundamentals of accountancy, finance and business. Each Certificate Level module is assessed by a 1.5 hour computer-based exam, and can be sat throughout the year at an ICAEW-approved test centre. The pass mark for each exam is 55%.
The next six modules build on the fundamentals and test your ability to use technical knowledge in real-life scenarios. Each Professional Level module is assessed by a 2.5 hour exam, except for Financial Accounting and Reporting, which is 3 hours. The Professional Level exams are available to sit every March, June, September and December. The pass mark for each exam is 55%.
The Corporate Reporting and Strategic Business Management modules test your understanding and strategic decision making at a senior level. They present real-life scenarios, with increased complexity and wider implications from the Professional Level modules. Both exams are 3.5 hours long and have a 50% pass mark.
The Case Study presents a complex business issue which challenges your ability to problem solve, identify ethical implications and provide effective solutions. The Case Study is designed to test the knowledge, skills and experience you have gained throughout your training. This exam is 4 hours long and also has a 50% pass mark.
The Advanced Level exams can be taken in July and November each year. They are fully open book, so they replicate a real-life scenario where all the resources are at your fingertips.
Please note, you will not be able to attempt the Case Study until you have taken (or received credit for) all of the other modules. You also will need to be in the final year of your training agreement.
During 2017 and 2018, the Professional and Advanced level examinations will also be computer based but can be sat only at the four designated dates during the year.
Graduates, school leavers and those with other professional qualifications or experience (such as AAT, ACCA, CIMA etc) can study for the ACA.
The minimum academic entry requirement for students is two A-levels and three GCSEs (or international equivalent), although the majority of students who join the ACA programme are University or AAT graduates.
Students with associate degrees, diplomas and advanced diplomas from Cypriot tertiary education establishments may meet the minimum entry requirements. Please note the Apolytirion of Lykeion level is not considered to be an A-level equivalent.
Credit for prior learning is the ICAEW term for exemptions. You may be eligible to apply for credits for some of the ACA syllabus if you have studied a relevant academic or another professional qualification. Be sure to check that your employer recognises CPL before applying. Check out the ICAEW’s CPL directory.
The EIMF is a Partner in Learning with the ICAEW in delivering the ACA qualifications to students in Cyprus.
The particular scheme recognises the shared relationship and mutual interest that ICAEW and EIMF hold in the development of students and the delivery of professional qualifications and training programmes.
Being a Partner ensures that the institute has access to all the resources needed to deliver effective tuition for the ACA qualification, promoting consistently high quality training provision in Cyprus.
By working together and communicating openly, our students benefit as they embark on their future careers.
The core principles we meet are the following:
The EIMF offers ACA classes to all levels of study, specialising on the busy professional by offering evening and weekend lessons. All groups are small to ensure the flexibility of the schedule.