The ICAEW stands for the Institute of Chartered Accountants in England and Wales and since their founding, in 1880, they have been responsible for kickstarting the careers of chartered accountants that have prosperous careers in sectors such as business and finance.

ICAEW Exam Structure: What is That About?

Q: What are the benefits of studying with the ICAEW?

There are three key benefits to studying with the ICAEW. Such as? Firstly, they promote inclusivity among their members. Secondly, they are in charge of granting certifications to accountants around the world to all types of people. Thirdly, the ICAEW is known for helping out public sectors where there's a more significant need.

"Boundaries are basically about providing structure, and structure is essential in building anything that thrives." -Henry Cloud

Without structure, our world would become even scarier than it already is. Structure and organisation established by governments and trusted entities keep us from asking why? how? And where?

In the realm of education, some rules and regulations are encompassed within degree programs that students must complete to become skilled in a specific domain. A curriculum's organised and well-balanced courses are just the structure a pupil needs to show others that they are qualified and ready to work.

But, what about accounting courses? Since accounting deals with many numbers and tax laws, it's fundamental to have organisations that establish courses that are regulated and recognised across the United Kingdom, and other countries as well.

Without further ado, we're going to answer questions about the ICAEW and how it's a reputable professional body of accountants that keeps things nice and tidy in the accounting world.

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What is the ICAEW?

working everyday with numbers — Accountants work hard around the clock to establish rules and regulations within the accounting industry. (Source: Unsplash)

Following the rules isn't everyone's forte. However, to successfully find work and experience some form of protection, it's quite necessary to take some courses that will give you a diploma. Without qualifications, especially in the sector of accounting, many individuals might feel apprehensive about hiring you to do their taxes or assist them with making financial decisions. Therefore, that's when the ICAEW comes in for support.

The ICAEW is a global professional body for chartered accountants. Their primary objective? To guarantee that all chartered accountants registered with the ICAEW have the knowledge and values to help build local and global economies that are accountable and fair.

The ICAEW stands for the Institute of Chartered Accountants in England and Wales. It was founded in 1880 and has helped members blossom within the finance industry for well over a century. Although there are England and Wales in the title, the ICAEW is a trusted body that has members from other parts of the world.

It's worth stating that there are currently 198, 500 ICAEW members and most of the world's top companies hire accountants that are qualified by the ICAEW.

To learn more about ICAEW and its true purpose, it's worth analysing who they work with and its related parties. For example, the ICAEW is collaborating with the government and the following commercial partners:

Auditel,
Avalara,
BlackLine,
BVB,
Eden Tree,
Howden,
Netwealth,
Sage,
Valutico.

All of the previously mentioned commercial partners work hand-in-hand with the ICAEW to ensure that things run smoothly.

On the other hand, as for related parties, you'll be pleasantly surprised to learn about the following charities that are affiliated with the ICAEW:

The Chartered Accountants’ Charities Investment Pool (CACIP),
P D Leake Trust (PDLT),
Chartered Accountants Trust for Education and Research (CATER),
Chartered Accountants’ Permanent Education Trust (CAPET).

Now, that we've learned a little bit more about the ICAEW in general, let's focus on answering the question, what is ICAEW chartered accountancy? Let's uncover the truth in the following subheading.

What is ICAEW Chartered Accountancy?

stacks of papers — Accountants attempt to make sense of the complicated finance papers you have on hand. (Source: Unsplash)

Even though the term accountancy is quite popular and everyone tends to know what accountants are and what they do, have you ever heard the simple phrase, "chartered accountancy?" Unless, you've studied business & finance or you're considering a career in accountancy, talking about chartered accountants is something that happens around the dinner table in regular conversations.

So, what is chartered accountancy? In the simplest of terms, chartered accountants can be viewed as the "founding fathers" of the accountancy profession since they have led its global development.

Chartered accountants in the UK, and around the world, hold influential positions like business leaders, decision-makers and trusted advisers. Chartered accountants tend to work in domains such as public practice, business, finance, and forensic accounting.

Since chartered accountants also work in the same sectors as regular accountants, what's the big difference between the two? Well, although anyone working with numbers and accountancy may call themself an accountant, it's worth stating that a chartered accountant is someone who has taken the time to carefully study accountancy rules and undertake exams over a period of three years or more.

Chartered accountants are experts in their domain because they've passed a series of rigorous assessments in financial management, auditing, business strategy and taxation, and are committed to keeping their skills up to date.

The ICAEW is one of the many accountancy organisations that structure courses to continue training chartered accountants to become leaders in the business, finance, and accounting industries. The ACA qualification, which is currently offered by the ICAEW, is the best way to become more skilled and seasoned in the accounting sector. And, that is the ICAEW chartered accountancy pathway that is accessible to all who desire to reach this status.

When are ICAEW's Upcoming Examinations?

ICAEW exams — After completing some ICAEW training, accountants are more equipped to begin their careers in the finance industry. (Source: Unsplash)

Have we piqued your curiosity? Has this article guided you towards wanting to become a registered accountant with an ICAEW training certification? We sure hope so!

Nonetheless, preparing for a career in accounting, alike other sectors, requires planning and filling your mind with knowledge on the subject. Therefore, if you want to have ICAEW accreditations, we highly recommend taking note of future examination dates. It's worth stating that exams regulated and overseen by the ICAEW are ACA Professional and Advanced levels.

ACA Professional examinations have the following upcoming dates for 2023, based on when the sessions start:

Session starting April 24: exam dates are June 5, 6, and 7 with exam results being released on July 14.
Session starting July 20: exam dates are September 4, 5, and 6 with exam results being released on October 13.
Session starting October 16: exam dates are December 4, 5, and 6 with exam results being released on January 19, 2024.

Persons in the UK taking these ACA Professional exams will have to discover where they are available openings and schedule their tests in advance to ensure that they received their university degree diplomas and ICAEW accreditations close to each other.

As for the ACA Advanced qualification, the following list describes essential exam information:

Session starting May 22: exam dates are scheduled for the 17, 18, and 19 of July with the results being released on the 25 of August.
Session starting September 11: the exam dates scheduled for this period of ACA Advanced accreditations are November 6, 7, and 8 with exams taking place on the 15 of December.

If you're an accounting student, take the time to review the helpful resources at your disposal such as the exam system status and the ACA planner. We're sure that you'll be equipped with all the information that you need to succeed. But, what are the most noteworthy benefits of studying with the ICAEW? Let's find the answer in the following subheading!

What are the Benefits of Studying with the ICAEW?

Since the United Kingdom is a significant centre for business, finance, and international commerce, cities such as London, Birmingham, and Edinburgh are education hubs for individuals seeking to make a living as a businessperson or accountant. Therefore, with that being said, what makes the ICAEW shine? Let's take a look at a few key highlights that are mentioned on their website:

The ICAEW Promotes Inclusivity: in a world where inclusivity strives, the ICAEW attempts to ensure that diversity and fairness are guaranteed for all types of individuals. Through ICAEW courses, students are taught by talented professionals and given the skills and values they need to build resilient businesses, economies and societies. Wherever you're from and whichever background is yours, the ICAEW has a course for you!
The ICAEW Certifies Accountants Worldwide: not solely an organisation that is known in Great Britain, the ICAEW is a founding member of Chartered Accountants Worldwide (CAW) that is an international group that brings together over 1.8m chartered accountants and students in more than 190 countries. Therefore, instead of only fortifying a certain country's financial structure through accountancy, the ICAEW is interested in making expert accountants everywhere.
The ICAEW Helps Public Sectors: not only in it for the big bucks, but the ICAEW also tries very hard to give back to local communities. Since its founding in 1880, the ICAEW has regularly worked with governments, regulators and business leaders globally to monitor the many firms and centres that have ICAEW members and students.

Don't the three previously mentioned reasons make you want to study for an accounting degree that is administered by the ICAEW? We sure hope so! Nonetheless, even with exams and courses that are well-structured and organised by an organisation that's as brilliant as the ICAEW, there are still moments when you feel like throwing in the towel. But, what can be done to avoid that? Hiring a private tutor. But, where can I find a private tutor? Superprof. Accounting tutors on the Superprof site are affordable, experienced, and possess the ability to teach either in-person or virtually.

In conclusion, our main goal with today's article was to inform aspiring accountants to consider the brilliant accountancy courses and supplemental information that are offered by the ICAEW. Happy studying!

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