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Apprenticeships opening doors to accountancy

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7th Sep 2012
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Alex Miller takes a look at the drivers for the rising popularity of apprenticeships in the profession. ALEX MILLER reports

Over the summer, Business Secretary Vince Cable launched 4,230 new Higher Apprenticeships to fill nationwide skills gaps in a number of sectors - including 1,500 in accountancy.

The accountancy apprenticeships aim to allow young workers to study at degree-level, while working with employers and getting paid. The overall objective is also to widen access to accountancy by opening up an entirely new route - and comes at a time when apprenticeships in the profession are already on the rise.

Among the new schemes, the ICAEW has developed a Higher Apprenticeship programme in conjunction with Big Four firm PwC, the Association of Taxation Technicians (ATT) and the Management Consultancies Association (MCA).

The programme focuses on tax, audit and management consultancy. Students who complete the higher apprenticeship will gain a structured path to bachelor’s degrees and full membership of the Association of Accounting Technicians (AAT). The AAT qualification itself opens up the possibility of completing a professional accountancy qualification with a chartered body such as ACCA, ICAEW, CIPFA, CIMA, AIA or ICAS. The programme will also give students exemptions from certain parts of those qualifications.

The organisations involved in this particular scheme believe that with graduate unemployment rates at a high and the average university student debt rising to £45,000, vocational education and apprenticeships are becoming ever more attractive options for school and college leavers.

Gaenor Bagley, head of people at PwC, says: “It gives people the opportunity to aim high, wherever they are. Widening the talent pool equals diversity.”

ICAEW executive director for learning and professional development Mark Protherough adds: “I genuinely believe that it will open access, give a choice to young people and send a message that they don’t have to go to university to get the ICAEW qualification.”

Colleges such as BPP and Kaplan also provide AAT apprenticeship schemes, as do employers such as Baker Tilly, KPMG, RSM Tenon and BT.

Chartered accountant PM+M Solutions for Business LLP, has supported apprenticeships for over a decade and in that time has recruited eight accountancy technician apprentices. The latest to finish their apprenticeship is 19-year-old Bradley Howarth.

He says: “I didn’t want to go to university and thought that an apprenticeship would be a good way to get some work experience and a qualification, without getting myself into debt. I’d definitely recommend apprenticeships to anyone who wants to work in finance.”

Linda Whalley, human resources and training manager at PM+M, adds: “Our apprentices have been keen to learn and do well, which I am sure are attributes that many employers look for in any new recruits. It has been very rewarding to watch them flourish as their skills and confidence have grown and they have developed into qualified professionals.”

AAT chief executive Jane Scott Paul believes apprenticeships are proving to be a viable option for young people looking to secure long-term employment and improve their future career prospects.

“In the case of accountancy, following this route into the profession means a school leaver can become chartered much quicker than a university graduate - at little or very often no cost to themselves,” she says.

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By vowlesj
12th Sep 2012 12:12

and its a no-brainer

Like others mentioned in the article, I have recruited from sixth form and put staff through AAT and then offered ACA and ACCA training - and done so since 2001.

As with all training and recruitment you have to put effort into selecting the appropriate person and then supporting them but I think it works well.     I think it is a great way to attract and train staff.   Equally, I think University has something to offer and the benefits of the more traditional route of university followed by a training contract shouldn't be ignored by teenagers and career advisers.

Jonathan

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By janejordan
12th Sep 2012 17:44

Apprenticeships

We employed an 18 year old as an apprentice straight from A levels last year. She has sailed thorugh the first year of AAT having attended college on day release, and is likely to be AAT qualified within the next 12 months, potentially progressing to ACCA after that. The mix of study/work experience has certainly worked for us and our employee in this instance and she is now a much valued member of our team. She is also very cheap since minimum pay rates for apprentices are lower than the national minimum wage (although we do pay significantly above the minimum amount).

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By malcolm141
13th Sep 2012 12:03

No university debt

All good.

Apprenticeships and the AAT does allow people to enter the profession without getting into university debt. And, it also opens up the profession.

I heard about a small firm who took on a graduate and A level apprentice. The graduate has now left because the apprentice showed them up!

Malcolm

Accountants North London

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