ICAS ACCOUNTING
EDUCATION
Anton Colella
Chief Executive
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Vision
•The CA demonstrates the highest standards in
business and society
Mission
•ICAS will enhance the global standing of the CA by:
“Excellence in education and professional
development”
Core objective
•Develop the business leaders of tomorrow
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Approach to CA Education
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Maintain Standards
Quality controls
Change and Innovation
Influence in policy development
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Five pillars of the CA
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Employers authorisation
Universities authorisation
CA Education
Work Experience
Examination quality
All carried out by ICAS
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1. Employers Authorisation
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Training standards
4 yearly review
Peer review
Committee review
Consistent system
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2. University Authorisation
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Education standards
Government reviews relied upon
4 yearly review
Joint ICAS and peer review
Committee review
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3. Chartered Accountant
Education
Test of Competence (TC)
Financial
Accounting
Principles of
Auditing &
Reporting
Business
Management
Finance
Business
Law
Test of Professional Skills (TPS)
Assurance
and
Business Systems
Financial
Reporting
Advanced
Finance
Taxation
Test of Professional Expertise (TPE)
Work
Experience
Multi-discipline
Case Study
Education &
Exam
Programme
Core
Specialist
Competencies
Fields
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Education Delivery
•Material creation
•Consistent approach to education
•Annual review and change
•12 cities throughout United Kingdom
ICAS staff are involved in all aspects with
a full-time team of lecturers.
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4. Work Experience
• “Achievement Logs” provide a record of
workplace experience
• Need to achieve a number of
competencies prior to qualifying as a
CA
• Must obtain required number of days
relevant work experience over training
contract
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5. Examination Quality
• Semi independent panels and
committees
• Multiple sittings of examinations
• Setting and marking processes
• Results issue
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Examinations – Test of
Competence (Part 1)
• 5 subjects – Financial Accounting,
Auditing, Law, Finance,
Business Management
• Paper length Two Hours
• Marking and results issue – Four weeks
• Writing ICAS employees
• Marking Members and academics
• Control Members and employees
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Examinations – Test of
Professional Skills (Part 2)
• 4 subjects -
Taxation, Financial Reporting,
Advanced Finance, Assurance &
Business Systems
• Paper length • Exams -
Five Hours
June, September, December
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Marking and results issue – Four weeks
Writing Members
Marking Members in a marking school
Control Members and employees
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Examinations – Test of
Professional Expertise (Part 3)
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One paper - A multidiscipline case study
Paper length -5.5 hours
Exams May and November
Marking and results issue – Five weeks
Writing A team of members
Marking Members in a marking school
Control Members
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ICAS Approach to Ethics
• Professional ethics taught in subjects eg:
Auditing, Finance
• Final exam case study always contains ethical
issues
• Identify need for separate programme (2005)
• Business ethics course launched
• Two full taught days with cases
• Final assessment in ethics. Must PASS
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Business Ethics 1
• Explain the nature of ethics and its
significance in the business environment
• Appreciate the need to approach decision
making in business using an ethical
framework
• Develop arguments and understand the
perspective of others in considering ethical
issues
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Business Ethics 2
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Organisational responses
Corporate citizenship
Whistle blowing
Social and environmental reporting
Students application to their work
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Standards
• Consistency of the standard across time
• Public expectation
• Demands of the market
Achieve this by quality of staff and by
feedback and review processes
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Quality Controls
• Member oversight
• Public members
• United Kingdom Government Review
(Audit)
• Benchmark projects
• IFAC Education Standards
• European Union rules
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Benchmark Project Examples
• Canada, South Africa, Australia, New
Zealand, Hong Kong, Ireland and
England (CAGE)
• ICAS reviewed Hong Kong, New
Zealand and South Africa in 2007.
• South Africa reviewed ICAS in 2007
• European Common Content with
Germany, France and Italy
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IFAC International Education
Standards
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IES 1-8 (Mark Allison one of authors)
Meet, and develop from, IES
World Congress
Japan conference
International work
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Change and Innovation
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Flexible delivery through modules
Work experience achievement log
Level 3 (TPE) Case Study on computer
Business ethics programme
Partnerships with similar organisations
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About ICAS students
• Over 3,900 students
• 64% of students train outside Scotland
• ICAS trains students from all ‘Big 4’
firms in UK
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Why Become a CA?
The qualification is:
• Widely recognised as one of the best
accounting qualifications in the world
• Highly regarded and versatile offering
the best technical knowledge
• In tune with the changing demands of
today’s business environment
• Portable worldwide
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