Introducing the New Generation ACA

Introducing the Next Generation ACA

We outline the forthcoming changes to the ICAEW’s qualification.

The role of the accountant is changing. Future chartered accountants will require the skills to lead and adapt as they encounter new and uncertain challenges throughout their careers, from a growing focus on sustainability to the increased use of artificial intelligence (AI).

The ICAEW chartered accountancy qualification, the ACA, is one of the most advanced learning and professional development programmes available, opening doors to launch careers around the world.

In 2023, ICAEW invited over 100,000 Authorised Training Employers, students and members across the world to participate in a consultation programme on developments to the ACA. This consultation identified several key themes that will be integrated into the redevelopment of the qualification.

The Next Generation ACA will launch in September 2025, equipping a new generation of ICAEW Chartered Accountants for the future.

Alan Vallance, ICAEW CEO, said: “When I qualified as an ICAEW chartered accountant I was excited to see where the ACA could take me. Many years later, it’s been my passport to working around the world, across a wide range of sectors, and for me personally, leading prestigious organisations.

“For nearly 150 years, gaining ICAEW membership has launched global careers in business, finance and accountancy, and we must ensure that it remains best in class for the next generation. These exciting changes are

the culmination of the most extensive and collaborative consultation process in our history, and we can’t wait for these developments to come into place next September.”

The Next Generation ACA at a glance

With a refreshed core syllabus and the introduction of tailored Specialised Learning and Development, the Next Generation ACA will give students the skills and knowledge they need to succeed in the workplace today and in the future.

The Next Generation ACA will combine three key components which are designed to complement each other. These components will enable students to put theory into practice and understand and apply what they learn in their day-to-day work:

• 14 business, finance and accountancy modules.

• Specialised Learning and Development.

• Professional Work Experience.

A refreshed, future-fit syllabus

The Next Generation ACA will have a refreshed, future-fit syllabus of 14 business, finance and accountancy modules split across three levels: Certificate, Professional and Advanced. Like the current syllabus, there will be six modules at Certificate Level and six modules at the Professional Level. At the Advanced Level the modules have been consolidated from three to two case studies.

The syllabus has been redesigned to provide a highly integrated learning journey, with modules at each level reinforcing and building on knowledge and skills to provide more of a ‘step-bystep’ journey. This will enable smooth, supportive and attainable progression from the Certificate through to the Advanced Level. The qualification will remain fully flexible, with modules being able to be attempted in any order (excluding the Strategic Case Study, which must be attempted last).

Greater focus will be placed on teaching students the fundamentals of business, finance and accounting, while the robustness of the qualification remains at the forefront of the new developments, ensuring the quality of teaching and learning. Students will develop critical thinking, leadership and communication skillsets with assessments that are reflective of today’s businesses and organisations, particularly those within the digital economy.

Updated every year, the Next Generation ACA syllabus will deliver the most reflective and agile chartered accountancy training on offer.

Sustainability, ethics and technology

ICAEW believe that chartered accountancy can be a force for positive change, with ethics being integral to the role of the chartered accountant. Over the next decade, sustainability, technology and ethics will be the three key themes impacting every accountant and business they serve.

The Next Generation ACA will take a refreshed approach, integrating sustainability, ethics and technology throughout the programme. Brandnew, core modules covering each theme will be introduced, going further than ever before to integrate these competencies at each level of the syllabus.

Will Holt, Managing Director of Education and Training at the ICAEW, said: “We have placed technology, ethics and sustainability at the very heart of the ACA with greater emphasis on professional skills development. The Next Generation ACA will develop the skills that Chartered Accountants will need to successfully work alongside technology during their career.”

Specialised learning

With a new skills development framework, the Next Generation ACA will also introduce Specialised Learning and Development. Specialised learning will provide students with the option to choose which content they complete from a range of options. This will enable students to personalise their learning experience to fit with their individual learning needs and role, facilitating early career specialisation.

A state-of-the-art learning development platform will host the specialised learning content, which will feature a blend of interactive activities, puzzles, videos, voice recordings and articles. Students will need to complete a minimum of 30 units of specialised learning from the platform, with each unit roughly equating to an hour of learning.

Professional work experience

More than 7,000 organisations in over 70 countries offer ACA training. A key finding from the consultation was that 75% of employers recognised the need for real work skills that can be applied in the workplace.

Consistent with this, professional work experience will remain an essential component of the ACA. Students will gain invaluable business and commercial insight implementing technical and specialised knowledge in the workplace, by completing a minimum of 450 days of professional work experience.

Transitional arrangements

Students who are partway through their ACA journey may be wondering what the launch of the Next Generation ACA will mean for them. Transitional arrangements have been thoroughly considered by ICAEW as part of the rollout and will be pragmatic and fair. ICAEW is already working with education providers and employers to support students during the transition period.

The Next Generation ACA will launch in September 2025 with a phased approach to implementation. Students with a training agreement start date from 1 July 2025 will begin studies on the Next Generation ACA route.

Dual running will provide current students with the opportunity to finish the current ACA or, alternatively, move seamlessly to the Next Generation ACA, subject to transition rules. ICAEW continue to work closely with tuition providers and employers to ensure all pathways to membership during this transition period are smooth and efficient. There should be no requirement to sit extra exams. Full details of the last sittings of the current ACA exams and first sittings of the Next Generation ACA, and equivalent module mapping can be found on the ICAEW website.

Your future with ICAEW

Whether completing the current ACA, a transitional route or embarking on the Next Generation ACA, future ICAEW chartered accountants will benefit from a globally recognised gold-standard for teaching and learning.

Once qualified, ACA students are invited to join a welcoming community of 169,500 ICAEW members. Membership with ICAEW will help newly qualified ICAEW chartered accountants to take full advantage of career opportunities, build connections with like-minded professionals, continue their professional development and maintain their respected status within the profession as a member of a progressive, influential and internationally-regarded professional body.

ICAEW President Malcom Bacchus commented: “ICAEW chartered accountants are crucial to influencing business decisions and driving organisational success. The ACA is a mark of excellence and professionalism, adhering to the highest standards of ethics and principles. Our students are the ICAEW members of tomorrow, representing the next generation of ICAEW chartered accountants. The changes we have made to the ACA provide students with worldclass training to be the leaders of tomorrow across a wide range of careers.”

Find out more

Learn more about the upcoming changes and how they might influence your studies on the ICAEW website – go to https://tinyurl.com/5594u6c4

• Thanks to ICAEW for this article