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ICAEW training

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I work for as a trainee for a  small firm in Bristol and have decided to persue the ACA CFAB qualification indepedently as my employer is reluctant about becoming a ACA registered employer despite being a firm of Chartered Accountants. Note they told me in the interview that ACA training can be arranged, but now seem to have lost interest! 

Any advice on how I can persaude the firm to become a registered training employer? Why is it that so many small firms have stopped sponsoring trainees for this qualification? Also, do you think it would be difficult to secure a more senior position if I am only exam qualified? 

Any thoughts would be greatly appreciated.  

Thanks

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By 1 2
27th Dec 2017 09:12

I'm ACA, but all our trainees are ACCA. Only reason for this is ICAEW don't seem interested in small firms, more trouble than it's worth to try to jump through their hoops.

...are your firm prepared to help you through ACCA (just not ACA)? Or are they opting out of helping you with formal training full stop?

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Replying to Maslins:
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By jnracc
27th Dec 2017 16:37

They want me to become "fully competent" in accounts before putting me forward for any sort of training as they believe it would then be easier for me to pass exams. But in trying to get to the level I am at now I have had to do my own learning outside of work, without getting any formal qualifications.

They probably would be prepared to help with ACCA at a much later stage, but waiting so long for their approval I feel will delay my career development.

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Replying to jnracc:
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By 1 2
27th Dec 2017 17:04

Well, obviously I don't know the full picture, just info from your comments. However, to me it sounds like they're giving you the run around. Ie dangle the carrot in front of you that you might not ever reach. In my opinion it's disgusting when firms (accountancy or otherwise) do this...but reality is unless you're key to their business, you're in a weak position.

Putting an employee through exams is expensive and also means lots of extra time off. However from the perspective of your future career it's important you get it. I'd suggest you be a bit more demanding with your employer...but play it a bit carefully, as if you're not that important to them they might just let you go.

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By mraccyd
27th Dec 2017 12:25

I agree with the above poster try ACCA.

There is a reason why the numbers of students of ACA are dropping and those of ACCA (and to a lesser extent CIMA) are rising substantially and firm and student support are just the start of it!

ACA is OK if you are joining the big firms and want to be an audit drone, but if you want more support and flexibility in your study, with qualifications just as recognised around the world go for one of the others.

Unless of course, you want to be one of the dinosaurs pretending to be a superior whilst numbers pass you by and you eventually become extinct........Merry Christmas!

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By djn24
29th Dec 2017 14:40

No small firms train with Icaew anymore. They all train acca.
We have just switched from an icaew to acca firm.
Think icaew lost ground to the acca for anyone under the age of early 50.
In future, as most people now train in acca then it will be difficult to have icaew firms anyway due to the strict rules on ownership of firms.
Seriously would look at acca.

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Replying to djn24:
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By jnracc
29th Dec 2017 16:23

Thanks you for your comment.

I am currently with a small firm but my medium term goal is to get into a transaction services type of role with the big 4 or any similar organisation. Do you think ACCA would help with this? I feel preference is given to ACA's for these type of roles.

Thanks

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Replying to jnracc:
By djn24
29th Dec 2017 18:28

I personally don't see any difference between the two apart from the age of the candidates. As i said most under 50s will not be icaew.
I've never worked in the big 4 mind.

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By Mr_awol
03rd Jan 2018 14:08

We train ACA but it's less common nowadays as the study route is a bit more expensive, and still less flexible than ACCA.

If your employer wont offer ACA now but will in the future, then you could self study CFAB and 'bank' that for future progression towards ACA.

If they will only ever offer ACCA then you can still self study CFAB before moving to a firm that will support you but this might be risky.

If you have your heart set on ACA then another option would be to take the ACCA if its on offer and then do the top up exam/conversion route and apply for ICAEW membership that way.

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By SAMSTARBUCK
24th Jan 2018 09:40

Hi jnracc,

I work as Regional Business Development Manager (Wales and the South West) at ICAEW. Part of my role is to support smaller practice and Industry with ACA training; I saw your post and thought I could offer you some assistance in pursuing the ACA.

ICAEW currently supports over 5,000 different organisations around the world, of all sizes including SMEs and smaller practices, providing ACA training for their employees. It’s an easy process for a company to become an Authorised Training Employer, which I’d be happy to discuss with you or your employer, as well as the possibility of funding to significantly reduce the cost of training, if they are considering this for their employees.

If you would like to get in touch directly to discuss your options, please let me know and I would be happy to speak with you.

Thanks, Sam

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By SAMSTARBUCK
24th Jan 2018 09:43

Hi jnracc,

I work as Regional Business Development Manager (Wales and the South West) at ICAEW; I saw your post and thought I could offer you some assistance in pursuing the ACA.

ICAEW currently supports over 5,000 different organisations around the world, of all sizes including SMEs and smaller practices, providing ACA training for their employees. It’s an easy process for a company to become an Authorised Training Employer, which I’d be happy to discuss with you or your employer, as well as the possibility of funding to significantly reduce the cost of training, if they are considering this for their employees.

If you would like to get in touch directly to discuss your options, please let me know and I will gladly contact you.

Kind regards

Sam

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