The Largest Professional Accounting Organization Recognized The Examinations of Students from The Finance and Accountancy Faculty

The largest professional accounting organization in the world - the Institute of Chartered Accountants in England and Wales (ICAEW) recognized all examinations of students from the Finance and Accountancy Faculty of UNWE for the first certification level.

There are two professional organizations in the world which prepare chartered accountants and hold 100% of the market in this field – the Institute of Chartered Accountants in England and Wales (ICAEW) and the Association of Chartered Certified Accountants (ACCA). In relation to the implementation of UNWE priority fields for Scientific Research Activity and in compliance with the UNWE plans for 2011-2015 confirmed by the Rector Prof. D.Sc. (Econ.) Statty Stattev the Finance and Accountancy Faculty elaborated a project during the last three years jointly with the ICAEW about the recognition of examinations for students graduated from the Finance and Accountancy Faculty of UNWE. The Institute of Chartered Accountants in England and Wales (ICAEW) is the largest professional accounting organization in Europe. It is established in 1880 and has more than 144 000 members. The education for the ICAEW qualifications is organized in three levels (Certificates, Professional and Advanced Level) and consists of 15 modules.

Structure of modules included in the ICAEW ACA qualification

 

Source: ICAEW, 2013. “Times are changing… Your Guide to the Latest Evolution of the ACA”, p. 14. (Available at: http://www.icaew.com)

Till November 2015 the ICAEW fully recognized the six modules for the first certification level of the ICAEW ACA qualification: Assurance, Management Information, Law, Business and Finance, Principles of Taxation and Accounting. Beside the ICAEW ACA qualification five of the modules (without the Accounting module) are applicable also for the individual ICAEW CFAB qualification. It is intended to those students who would like to continue their professional development in the field of finance, accountancy and business but have no interest in auditing profession. For this ICAEW qualification is required additional compulsory examination in Accounting.

In the Accrediting Form of the Institute of Chartered Accountants in England and Wales for 2015 are announced the required modules and examinations (curricula) recognized by the ICAEW.

Modules of ICAEW qualifications recognizing the examinations of Bachelor students graduated from the Finance and Accountancy Faculty of UNWE