How to Qualify as an Accountant

Whatever your academic background, you can train and qualify as an accountant in about five years. This will either involve a full time course at the University of Malta, where you can qualify with a B. Accountancy Hons; or will involve passing the professional examinations of the Chartered Association of Certified Accountants (ACCA) or The Institute of Chartered Accountants in England & Wales (ACA). In the case of students studying for their professional examinations (ACCA or ACA), students normally join a firm like ours on a full time basis. We offer generous paid study leave arrangements and reimburse students for their tuition fees.

University of Malta

One of the options available to students wishing to qualify as an accountant is to enter University and undertake full time studies leading to the Bachelor of Accountancy (Honours) degree. This is a 2-year full time course at the University. However, students will need to have succeeded in their B. Commerce course which is spread over 3 years.

The entry requirements for the B. Commerce degree are:

2 passes at "A" level, and 3 passes at intermediate level, with one of the intermediate passes being a pass in Pure Mathematics. In order to continue reading for the Bachelor of Accountancy (Hons) degree, students must possess an "A" level grade in Accounting at Grade C or better; and
5 passes at "O" level, at Grade 5 or better. Passes must include Maltese, English and Mathematics.

The entry requirements to the Bachelor of Accountancy (Hons) degree is a B.Commerce degree and must include high grades in the accountancy papers of the final examinations.

Further detailed information on entry requirements into the University of Malta may be obtained from the Faculty of Economics, Management and Accountancy at the University of Malta.

The Chartered Association of Certified Accountants (ACCA)

Both mature students and professional students can register as a student with ACCA. In the former case no basic requirments are needed; however in the latter case, students must have 3 "O" Level and 2 "A" Level passes amongst which are Maths and English.

The ACCA exams are structured around 2 stages; the fundamental stage made up of 9 modules, and the professional stafe made up of 5 modules.

Membership in the Chartered Association of Certified Accountants (ACCA) does not automatically qualify that person to act as an accountant in Malta.

In addition to completing the examinations successfully, students are required to obtain a minimum three years relevant supervised practical experience in order to qualify.

Any ACCA qualified person wishing to practice in Malta must also sit for their Malta variant examinations.

Tuition courses are provided by the Malta Institute of Accountants and the Richard Clarke Academy.

The Institute of Chartered Accountants in England & Wales (ACA)

To become eligible to register as a student with the ICAEW, you will need a University Degree normally at a grade of at least a Second Upper (2A).

In order to qualify as a Chartered accountant, students need to complete three elements of training:

Practical work experience in a training office like ours
Professional examinations (Technical Core 1, Technical Core 2 and the Final Admitting Examination)
Non-core assessment

As with ACCA, membership does not automatically qualify that person to act as an accountant in Malta. Any ACA qualified person wishing to practice in Malta must still sit for their Malta variant examinations. ACA qualified persons currently qualify for exemptions in all papers except for the examinations in local laws (including taxation). In practice, four papers must be successfully completed and one will also be eligible for membership in the Malta Institute of Accountants.

Warrant to practice as an Accountant/Auditor

Once a student passes all the required examinations, he/she will be eligible to apply for a warrant from the Ministry of Finance to act as a Certified Public Accountant. Following the required post qualification experience in an auditing environment, one may also apply for the warrant of a Certified Public Accountant with a practicing certificate.

Post-qualification

Specialisation

Towards the end of your training you may be ready to decide whether to stay on the general side of the practice or to spend a period in one of the specialist areas, e.g. tax advisory, computer auditing etc. You will be advised about these opportunities depending on your interest, performance and aptitudes.

Overseas

Some newly qualified accountants like to gain experience overseas, without any long-term commitment, before making final career decisions. We regularly place suitable people within the PwC network abroad. There are about 153 countries from which to choose. Some may remain overseas to develop interesting and successful careers while others return home after a few years, bringing with them the benefits of wider experience.

Outside the firm

There are many opportunities for accountants in business. Many of Malta's business leaders are accountants. The continuing demand for qualified accountants recognises that their training and experience provide an excellent foundation for a progressive career in almost any field of business activity. If you eventually decide that you would prefer not to remain in professional practice, we can, and often do, help with introductions to prospective employers. Business places a premium on the value of the PwC trained professional.