aca opportunities for graduates
DESCRIPTION
TRANSCRIPT
ICAEW
Topics
1. ICAEW
2. The ACA – A Career Accelerator
3. The Syllabus
4. Entry Criteria
5. Why the ACA
6. Conclusion
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1a. The ICAEW – our role and objective
• The Institute of Chartered Accountants in England and Wales (ICAEW) operate under a Royal Charter (since 1880), working in the public interest.
• Largest professional accountancy body in Europe, with132,000 members running and advising businesses in over 162 countries.
• Its primary objective is to educate and train chartered accountants, to maintain high standards for professional conduct among members and advance in theory and practice of accountancy.
• Early presidents of the ICAEW formed today’s Big 4• Arthur Cooper• William Welch Deloitte• Edwin Waterhouse• Sir William Barclay Peat
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1b. The ICAEW – Reputation and InfluenceWe provide our members with knowledge and guidance based on the highest ethical and technical standards. We shape opinion, understanding and delivery to ensure the highest standards in business and in the public interest.
• Thought leadership programme – engage with senior policy-makers and stakeholders, shapes government thinking on regulatory policy and looks ahead at long-term issues for the profession.
Dialogue in Corporate Governance - Analysing the impact of developments in capital market products on listed company governance.
re : Assurance - Exploring new types of external assurance other than audit
Inspiring Confidence in Financial Services - Debating issues affecting confidence in the financial services sector.
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1c. The ICAEW – Faculties and Special Interest Group
• Only institute globally to have its own specialist faculty expertise –sharing cutting edge guidance with members and advising them of the latest best practice.
• Specialist knowledge and networks – Nine Special Interest Group for sector-specific support
• Team of advisory service experts – handling top quality confidential advice , ethical and technical issues.
Audit and Assurance
Corporate Finance
Finance and Management
Financial Reporting
Financial Services
Information Technology
Tax
Entertainment & Media, Farming and Rural Business, Forensic,Healthcare, Tourism and Hospitality , Public Sector Group, Charity and Voluntary Sector, Interim Management, Non-Executive Directors, Solicitors, Valuation
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1d. The ICAEW – international presence
– Founder member of the Global Accounting Alliance (GAA) , representing over 700,000 of the world’s leading professional accountants.
– Key member of International Federation of Accountants, influencing setting of global accounting standards.
– Only international professional body invited to the World Economic Forum
– Working with World Bank to develop best practice in accountancy standards and training in Bangladesh
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1e. The ICAEW – Member services
•Staying Alert – email on up-to-date, worldwide issues on topics impacting the working environment of all members
•Professional Conduct Directorate – to assist members to assist in resolving commercial disputes which falls outside the disciplinary arena
•Chartered Accountants Benevolent Association (CABA) – to assist members and former members, spouses, dependent partners and children who have special needs.
•Lifelong Learning through a portfolio of courses
•Up to date information - The library and information service is the world’s leading
accountancy resource – available 24/7, 365 days a year.
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1f. Did you know?
• London, major capital market - 90% of FTSE 100 companies have an ACA on board and 67% of qualified accountants acting as Finance Director or CEO have an ACA (that’s four times the number holding any other single qualification)
• ICAEW salaries approximately 22% higher than other professional bodies (ACCA, CIMA, CIPFA)
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1g. ICAEW members in Malaysia
Tan Sri Hassan Merican, Chairman of Petronas
Dato Yusli Yussoff, Chief Executive of Bursa Malaysia
Dato’ Seri Tony Fernandes
CEO Air Asia
Dato’ Johan Raslan Executive Chairman,
PricewaterhouseCoopers
Mr Lim Kian Onn, founder ECM Libra
Avenue
Dato’ Gan Ah Tee Managing Partner, BDO Binder and Chairman of City Group Malaysia
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1h. The ACA track record in Malaysia• Training programmes in Malaysia ( also in China, Cyprus, Greece,
The Gulf, Pakistan, Romania, Russia, Singapore )
• Office in Chulan Tower, Jalan Conlay, Kuala Lumpur. Officially open by the ICAEW President, David Furst in September 2008
• Offered at Sunway University College since 2004
• Malaysia’s pass rate is exception , producing the following World Prize Winners :
1st place and the Watts Prize, Dec 04 (Audit & Assurance)1st place and the Little Prize, Dec 05 (Taxation)
1st place and Watts Prize, Dec 07 (Audit & Assurance)
2nd place and the Stephens Prize, Sep 05-Dec 065th place and the Cassleton-Elliott Prize, Sep 05 – Dec 06
Order of Merit (Professional Stage)
Overall Order of Merit (Professional Stage)
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The ACA Pass Rates in Malaysia(based on 1st attempt)
Professional Stage April 2008 pass rates
Knowledge Modules
AG AS LW MI
Malaysia 92% 92% 92% 82%
World 70% 88% 93% 82%
Advanced Stage July 2008 pass rates
Advanced Stage
TI-RR TI-BC CS
Malaysia 69% 65% 100%
World 81% 82% 80%
A CAREER ACCELERATOR
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2a. What does the ACA provide?
International
appeal
DIVERSE MARKET NEEDS
Core technical
skills
Specialist skills
Broad content
and rigour
Recruit high
calibre people
Flexible delivery
Requirements of regulation and
legislation
Individualclientneeds
A global benchmark for professionalism, ethics and business excellence
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2b. Where can the ACA take you ?
Public practice Partner
Corporate or Public sector
FD/CEO/Chairman
Change careers Investment Banking
Management Consultancy
Venture Capitalist
Go it alone Start up your own company
Where can the ACA take you?
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2c. ACA – who’s involved?
• Syllabus• Examinations• Study Support• Membership
• Time• Intellect• Energy• Effort
• Training agreement• Salary & rewards• Work experience• Study time• Reviews
Students • Tuition • Revision• Exam practice• Support
Employer
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Authorised Training Employers (ATE) in Malaysia
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The Syllabus
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3a. ACA – Exam Structure
AdvancedStage
Professional Stage
Inte
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Financial accounting
Financialmanagement
AccountingManagementinformation
AssuranceBusiness and finance
Business strategy
Audit and assurance
Taxation
LawPrinciples of
taxation
Financial reporting
Ethics
Ethics Ethics Ethics Ethics
EthicsEthicsEthics
Technical integration – Business change
Technical integration – Business reporting
Case Study
Ethics Ethics
Ethics
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3b. ACA – Credit for Graduates
AdvancedStage
Professional Stage
Inte
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Ap
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Financial accounting
Financialmanagement
AccountingManagementinformation
AssuranceBusiness and finance
Business strategy
Audit and assurance
Taxation
LawPrinciples of
taxation
Financial reporting
Ethics
Ethics Ethics Ethics Ethics
EthicsEthicsEthics
Technical integration – Business change
Technical integration – Business reporting
Case Study
Ethics Ethics
Ethics
Wo
rk e
xpe
rien
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uts
lea
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co
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com
plim
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by
IPD
Graduate credit available Some credits awarded to: University Malaya, UNITEN, Nottingham University, Sunway University College, HELP University College, Multimedia University
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3c. ACA – A combination of 4 components
Work Experience
450 days of technical work
Experience
Initial Professional Development
(IPD)
Staged development in the key areas that
define an ACA
Structured Training in Ethics
(STE)
Framework for professional
judgment
Examinations
6 Knowledge 6 Application
3 Advanced(inc. Case Study)
Training agreement = Provisional member
Linking work & study
ACA
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Entry Criteria
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Business42%
Business35%
4a. Degree disciplines
EnglishClassics
Arts17%
Law3%
Accounting
5%
Science13%
Engineering4%
Other0.1%
Maths14%
EnglishClassics
Arts16%
Law3%
Accounting & Finance
11%
Science15%
Engineering4%
Other0.3%
Maths13%
87% of ACA graduate intake have a 2:1 or 1st at degree
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Why the ACA?
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5a. Quality Intake = Quality Output
• ACA = Quality intake- 87% of ACA graduate intake have a 2:1 or 1st at degree- Graduates and students from other professional bodies have
chosen to continue with the ACA qualification
• ACA = Quality output- 79% students pass ACA first time- Amongst the highest pass rates of professional bodies, where
some has less than 50%
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5b. Technical Rigour
• Robust, world-class case study- No other accountancy body (CCAB) has this amount of
inter-disciplinary assessment- Challenges students on every aspect of their financial and
business learning- Develops critical thinking at a early stage of your career
• Compulsory vs optional- All modules of ACA are compulsory- Provides consistent benchmark of academic/practical achievement
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5c. Integrating work and study
• Initial professional development (IPD)- Sustained development over length of contract- Variety and depth – provides well-rounded business and financial
acumen - Monitored and approved
• ACA = high ethics content- Ethics in 11 of 15 exams- Additional structured training in ethics (STE) throughout length of
training contract
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5d. Reputation
“It’s what the ACA says about you that matters. It tells any prospective employer that you are bright and hard-working. In short, it says that you are one of the very best”
David Grigson, CFO
“If an ATE picks you for an ACA training contract, you are among the privileged few whom they believe have the makings of a future leader.’ Dato’ Gan Ah Tee, Chairman of ICAEW
Malaysia City Group & the Managing Partner of BDO Binder Malaysia.
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5e. Reputation
“My rigorous training with the ICAEW provided an excellent foundation for my business career and I continually apply the skills and knowledge I gained. The ACA qualification remains a quality mark for today’s accountants and business leaders”
Mark Tucker, CEO
Teo Ee Sing, Executive Director of Sunway University College, Financial
Courses Division
‘The ICAEW is one of the largest and most highly respected accounting bodies in the world. ACA graduates are often known as astute business advisors and captains of industry.’
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6. The ACA qualification
• Be your best and be recognised among the best
• The 21st century new battle – remain employable
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Your Options : Life after Graduation
Secure a training
agreement
Study and train as an
ACA
ACA in years.5 years work experience.
Your investment: +RM 108,000
Member in 5 years+3 years work experience.
Your investment: (RM 12K) + RM 64,800 =
RM 52,800
Work
Study full time for another
qualification
