Introduction
The ICAEW qualification, also known as the ACA (Associate Chartered Accountant), is one of the most respected accounting qualifications worldwide. If you’re aiming to become a chartered accountant with global recognition, ICAEW offers structured routes to suit various backgrounds like school leavers, university graduates, ACCA students, or even qualified professionals.
We’ve received many requests from our readers asking for a clear explanation of ICAEW’s structure, exam levels, and progression steps. So here’s a detailed and simplified breakdown to help you understand everything from the pathways to paper levels and what comes next.
What Is ICAEW and Why Is It Valuable?
The Institute of Chartered Accountants in England and Wales (ICAEW) is a globally recognized professional body for accountants. Its ACA qualification is valued for high ethical standards, strong practical training, broad syllabus coverage, and international career opportunities. The qualification is designed to blend academic knowledge with professional skills and workplace experience.
ICAEW Pathways: Who Can Join?
ICAEW offers multiple entry routes for different educational backgrounds. These pathways help students, graduates, and professionals begin their ACA journey from various stages.
1. School Leavers or A-Level Students
You can start directly after high school by joining a training agreement with an authorized employer. This route takes around four to five years and includes working while studying.
2. University Graduates
Graduates with any degree can begin the ACA qualification. Accounting or finance graduates may receive exemptions from some Certificate level papers. The typical time to complete ACA for graduates is about three years under a training contract.
3. ACCA, CA, or CPA Affiliates
If you are already a qualified accountant through ACCA or another recognized body you may apply through the ICAEW Pathways route. This route allows you to become a member through an experience-based assessment instead of taking all ACA exams. Usually at least five years of post-qualification experience is required.
4. Professionals with Other Qualifications
ICAEW also recognizes qualifications like an MBA,CFA, or a master’s in accounting. Your eligibility for exemptions and entry will depend on your specific background and experience.
ACA Qualification Structure: Three Levels of Exams
The ACA qualification is structured into three exam levels along with ethics training and practical work experience.
Certificate Level (6 Papers)
This level forms the foundation of accounting knowledge. Exams are mostly computer-based and test basic understanding of key principles.
Papers:
- Accounting
- Assurance
- Business, Technology and Finance
- Law
- Management Information
- Principles of Taxation
Many students from accounting backgrounds or ACCA/ICAP may receive exemptions here.
Professional Level (6 Papers)
This level focuses on applying knowledge to real business situations. Exams are more detailed and require written responses and deeper understanding.
Papers:
- Financial Accounting and Reporting
- Audit and Assurance
- Tax Compliance
- Financial Management
- Business Planning (Tax, Insurance, or Banking)
- Business Strategy and Technology
This is the level where concepts are tested in more practical and challenging ways.
Advanced Level (3 Papers)
This level focuses on strategic thinking, analysis, and professional judgment. These papers integrate the knowledge from all earlier levels.
Papers:
- Corporate Reporting
- Strategic Business Management
- Case Study
The Case Study exam is based on a real-world business scenario. It tests your ability to think and act like a professional accountant working under pressure.
Practical Work Experience
To become a fully qualified ACA, you must complete 450 days of relevant work experience. This is done during your training contract with an ICAEW authorized employer. The experience must cover areas like accounting, audit, tax, and business strategy.
Ethics and Professional Skills
ICAEW also requires students to complete the Ethics Learning Programme. It teaches you how to apply ethics and integrity in real business situations. It is completed online and must be done alongside your studies and work experience.
How Long Does ICAEW Take to Complete?
Most candidates complete the ACA qualification in three to five years, depending on their entry route, exemptions, and study pace. Those with full-time work contracts may progress faster under structured training agreements.
ICAEW Credit for Prior Learning (Exemptions)
If you already hold a qualification like ACCA, CA, ICAP, or a finance-related degree, you may be eligible for exemptions from some Certificate or Professional Level exams. ICAEW calls this “Credit for Prior Learning” (CPL).
For example:
- A finance graduate may be exempted from Accounting, Law, and Management Information
- ACCA affiliates may skip up to 12 papers depending on their progress. more you can check on ICAEW website or may be on ACCA website.
- ICAP CAF or CA students often get exemptions at the certificate level
You can check exemptions on ICAEW’s CPL directory by selecting your qualification and country. However, even if exempted, many students still choose to study those subjects for better understanding and to improve their skills in core areas.
Training Agreement and Authorized Employers
To officially start your ICAEW qualification, you need a training agreement with an ICAEW Authorized Training Employer. These are firms approved by ICAEW to provide you with proper work experience, mentoring, and performance reviews.
Common employers include:
- Big 4 audit firms (PwC, EY, KPMG, Deloitte)
- Local CA and audit firms
- Multinational corporations with in-house finance teams
- Public sector organizations or banks
You must complete at least 450 working days over the course of your training contract. This ensures you don’t just pass exams but also gain hands-on experience with real accounting and auditing work.
ICAEW Fees and Costs
The total cost of the ICAEW qualification can vary depending on:
- Whether you are self-funded or sponsored by an employer
- How many papers you’re exempt from
- Whether you take tuition classes or self-study
Typical costs include:
- Registration and student fees
- Exam entry fees per paper
- Tuition provider costs (if enrolled)
- Learning materials (books, practice kits)
Some firms cover these costs entirely for their trainees. For self-funded students, planning a budget and managing expenses is important throughout the qualification.
Tips for ICAEW Students
- Plan Ahead: Understand the exam structure, training contract, and deadlines before you start.
- Use Approved Resources: Study materials from ICAEW-approved publishers (like BPP or Kaplan) are highly recommended.
- Practice Mock Exams: Success in ACA exams often depends on how well you manage time and apply theory in mock questions.
- Maintain Work-Life Balance: Juggling full-time work and studies can be tough. Make a weekly schedule and avoid burnout.
- Engage with ICAEW’s Community: Webinars, workshops, and student support groups can give you extra motivation and guidance.
- Focus on Ethics: The ethics module isn’t just a requirement — it’s vital in building trust and professionalism in your career.
Practical Work Experience (450 Days Requirement)
One of the most unique parts of the ICAEW qualification is its focus on real work experience. Unlike other qualifications that only focus on exams, ICAEW requires all students to complete a minimum of 450 working days under an approved employer.
This work experience must be:
- Relevant to the field of accounting or finance
- Supervised by qualified professionals
- Spread over a minimum of 3 years
During your training, you’ll work in audit, taxation, financial reporting, risk, or advisory services. This gives you a chance to apply the knowledge you gain from exams in actual business situations. It also helps you develop soft skills like communication, teamwork, and professional ethics.
Throughout your training period, your employer will assess and sign off your progress regularly. You’ll need to document what you’ve learned and how you applied it on the job. ICAEW provides a platform to record this experience, which becomes part of your final assessment.
Professional Development and Ethics
ICAEW puts a strong emphasis on ethical behavior and personal development. This is what separates a qualified accountant from someone who simply knows accounting.
As part of your qualification, you must complete:
- Ethics Learning Programme
- Regular skills evaluations and feedback sessions
- Professional Development goals in five key areas
- Communication
- Teamwork
- Decision-making
- Problem-solving
- Adding value
These are developed during your training contract with your employer and are recorded in your online training file. Ethics, in particular, is not just a module — it is tested throughout the ACA journey, especially in the final Case Study paper.
ICAEW expects students and members to always act with honesty, transparency, and integrity. If any ethical breach occurs, it can affect your qualification journey.
How Long Does It Take to Become ICAEW Qualified?
The total time to complete ICAEW depends on your background:
- School Leavers: Around 4 to 5 years (while working)
- Graduates: Usually 3 years under a training contract
- Part-qualified professionals: 1.5 to 2.5 years depending on exemptions
Each student’s timeline is different, but consistency is key. Balancing exams, work, and development isn’t easy — but thousands of students manage it every year with proper planning.
Working Life in an ICAEW Training Firm
Once you’re hired under a training contract, your day-to-day life becomes a mix of work, learning, and development. Most students join audit or advisory firms, where the first few months involve training on systems, tools, and reporting methods.
Typical tasks in a training role might include:
- Assisting in audit planning or testing
- Preparing financial statements for clients
- Working with tax teams to handle filings
- Performing analytical reviews
- Supporting senior managers during client meetings
The environment in ICAEW-approved firms is usually fast paced especially during audit season. You will need to manage multiple tasks, meet strict deadlines, and learn quickly. However this pressure builds strong habits that are valued across the finance industry.
You’ll also interact with clients and learn how businesses operate and be part of real financial decisions all of which help you grow professionally.
Work Culture and Team Experience
Most training firms value teamwork, clear communication, and professionalism. You’ll often work in teams with other trainees, seniors, and managers. The learning curve is steep at first but many firms provide mentorship and guidance to help you adjust.
You can expect to:
- Join firm-wide training events
- Attend workshops or webinars
- Work under supervision but gradually take on more responsibility
- Build professional relationships that can help throughout your career
If you join a Big 4 firm, you’ll also have access to international resources, advanced audit software, and clients from diverse industries. Mid-tier and local firms might give you more direct exposure to client work and allow you to learn faster in certain areas.
Salary of ICAEW Trainees and Affiliates
Salary depends heavily on your location, employer, and experience level. However, even during training, ICAEW students earn competitive packages compared to other qualifications.
In general:
- In the UK, trainee salaries usually start from £20,000 to £30,000 per year
- In the Middle East, trainees earn between AED 4,000 to 10,000/month
- In Pakistan, ICAEW trainees can earn PKR 25,000 to 60,000/month depending on the firm
- After qualification, salaries often double or even triple within 1–2 years
Once you qualify, the title of Chartered Accountant opens doors to senior roles in audit, finance, advisory, consulting, and even C-level management. Many ICAEW members also go on to start their own firms or move into teaching and training roles.
Your career path can be shaped by the kind of work you do during your training contract. So, its important to take initiative,seek learning opportunities, and build your personal brand from day one.
IF You are interested in doing ACCA and want to get info on it you can visit the below article:-
ACCA Success Roadmap by CA X ACCA