ACA Professional Training Scheme

Overview

To qualify as a Chartered Accountant (ACA) with the Institute of Chartered Accountants in England & Wales (ICAEW), one must undertake a 3-year training programme, under a 5-year training contract with PwC. One will also be offered an employment contract for as long as one decides to stay with PwC.

The training contract commences in September each year. Applications start one year before graduation and interviews are carried out throughout the year.

Benefits

As part of the training contract, the following expenses are fully covered by PwC:  

• Tuition fee, study material and examination fee, for the first attempt of each examination
• Exemption fees
• Student society subscription fee
• Admission to membership fee

In addition to the above, ACA trainees have:

• Paid study leave, for the first attempt of each examination
• Salary increase, with every examination success
• Unpaid leave, upon approval

ACA trainees also enjoy benefits, such as:

• Continuous Professional Development (CPD)
• Medical coverage
• Life assurance
• Provident fund
• Flexible working hours
• Friday afternoon off
• Casual Friday
• Free parking
• Subsidised lunch at our restaurants

Examinations

The ACA examinations are divided into two stages:

1) The Professional Stage

2) The Advanced Stage

Both stages incorporate training and examinations.

Professional Stage

The Professional Stage is the first level of the ACA examination structure. There are a total of 12 examinations at this stage.

The first six examinations are called "knowledge modules ". They introduce trainees to core concepts underpinning accountancy and are examined using computer-based assessment.

The remaining six examinations are called "application modules". They demonstrate how trainees can build on their knowledge in practice, and are paper-based examinations.

Knowledge modules

• Business and Finance (B&F)
• Management Information  (MI)
• Accounting (ACC)
• Law (LAW)
• Assurance (ASS)
• Principles of Taxation (POT)

Application modules

• Business Strategy (BS)
• Financial Management (FM)
• Financial Accounting (FA)
• Financial Reporting (FR)
• Audit and Assurance (AA)
• Taxation (TAX)

Advanced Stage

The Advanced Stage takes an integrated approach on business topics and professional skills. This approach ensures that the studies will be relevant in the workplace, with increased emphasis on the provision of business advice.

The Advanced Stage is comprised of three examinations:

• Technical Integration: Business Reporting (BR)
• Technical Integration: Business Change (BC)
• Advanced Case Study (ACS)

Note:

The two Technical Integration examinations may be taken before the Advanced Case Study. Trainees must be in the last year of their training contract before taking the Advanced Case Study.

For more information regarding the examinations, please visit www.icaew.co.uk

Exemptions

Trainees are eligible to apply for a maximum of eight exemptions (“Credit for prior learning”) from the ACA examinations. More specifically, for all six “knowledge modules” and two of the “application modules” (i.e. Business Strategy and Financial Management), if they can provide evidence that the learning outcomes have been met as part of their academic or professional studies.

For more information regarding "Credit for prior learning" please visit this ICAEW page, where you can find out how many exemptions you can obtain with your university degree.

Exam centre

Course method

ACA membership

In order to obtain the ACA membership, one must successfully complete the following:

A. 15 examinations – Please refer to section “Examinations”

B. 450 days of Technical Work Experience (TWE)

It is mandatory to have at least 450 days of chargeable work before applying to become an ACA Member.

C. Initial Professional Development (IPD)

PwC has an accredited IPD scheme.

The IPD scheme helps ACA trainees develop professionally by considering their work experience in five key areas that define a chartered accountant:

• ethics and professionalism
• personal effectiveness
• technical and functional expertise
• business awareness
• professional judgment

D. Structured Training in Ethics (STE)

A web-based training programme, based on interactive case studies, scenarios and self-test questions that help trainees develop their professional ethics.  

Entry requirements

In order to apply to PwC's professional training schemes, candidates must meet the following requirements:

• Meet the following academic criteria:

• Fluency in English
• Fluency in Greek will be considered an advantage
• Computer literate (i.e. MS Office)
• Excellent communication and interpersonal skills
• Team oriented

How to apply

The application process for the ACA professional training scheme starts on 1 June each year and runs according to our Lines of Service needs. It is highly recommended that candidates apply the earliest time possible as this scheme is very competitive.

• Go to our application forms webpage
• Under “Section A”, please type “ACA Trainee - Intake YYYY”, and the relevant office (e.g. Nicosia)
• Once the form is completed, you can send your application online, by email or by post, following the guidance and contact details provided on the application forms.

The way forward

All applicants will receive a response within 20 working days from their application submission date.   

If an application is successful:

• The candidate will receive an electronic invitation to a panel interview
• If the interview is successful, the candidate will be informed by phone with regard to the employment and training contract offer

If an application or interview is unsuccessful:

The candidate will receive an email informing him/her of this decision.