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ICAS ACCOUNTING EDUCATION Anton Colella Chief Executive

ICAS ACCOUNTING EDUCATION Anton Colella Chief Executive. 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

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ICAS ACCOUNTING EDUCATION Anton Colella Chief Executive

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  1. ICAS ACCOUNTING EDUCATION Anton Colella Chief Executive

  2. 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

  3. Approach to CA Education • Maintain Standards • Quality controls • Change and Innovation • Influence in policy development

  4. Five pillars of the CA • Employers authorisation • Universities authorisation • CA Education • Work Experience • Examination quality • All carried out by ICAS

  5. 1. Employers Authorisation • Training standards • 4 yearly review • Peer review • Committee review • Consistent system

  6. 2. University Authorisation • Education standards • Government reviews relied upon • 4 yearly review • Joint ICAS and peer review • Committee review

  7. Test of Competence (TC) Test of Professional Skills (TPS) Test of Professional Expertise (TPE) Financial Reporting Assurance and Business Systems Advanced Finance Taxation Work Experience Multi-discipline Case Study Financial Accounting Principles of Auditing & Reporting Business Management Finance Business Law Core Competencies Specialist Fields 3. Chartered Accountant Education Education & Exam Programme

  8. 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.

  9. 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

  10. 5. Examination Quality • Semi independent panels and committees • Multiple sittings of examinations • Setting and marking processes • Results issue

  11. 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

  12. Examinations – Test of Professional Skills (Part 2) • 4 subjects - Taxation, Financial Reporting, Advanced Finance, Assurance & Business Systems • Paper length - Five Hours • Exams - June, September, December • Marking and results issue – Four weeks • Writing - Members • Marking - Members in a marking school • Control - Members and employees

  13. Examinations – Test of Professional Expertise (Part 3) • 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

  14. 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

  15. 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

  16. Business Ethics 2 • Organisational responses • Corporate citizenship • Whistle blowing • Social and environmental reporting • Students application to their work

  17. 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

  18. Quality Controls • Member oversight • Public members • United Kingdom Government Review (Audit) • Benchmark projects • IFAC Education Standards • European Union rules

  19. 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

  20. IFAC International Education Standards • IES 1-8 (Mark Allison one of authors) • Meet, and develop from, IES • World Congress • Japan conference • International work

  21. Change and Innovation • Flexible delivery through modules • Work experience achievement log • Level 3 (TPE) Case Study on computer • Business ethics programme • Partnerships with similar organisations

  22. About ICAS students • Over 3,900 students • 64% of students train outside Scotland • ICAS trains students from all ‘Big 4’ firms in UK

  23. 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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