Let accountancy elevate your career

The ICAI (Institute of Chartered Accountants in Ireland) has announced details this week of its new entry route for experienced graduates wishing to become a Chartered Accountant - the Elevation Programme.

These days, the traditional 'job for life' is almost a thing of the past, with people changing jobs frequently - some even change careers more than once. This trend is even more pronounced in these difficult economic times of redundancies and pay freezes. A common reason given for career change is that, having left college, graduates often take a non-professional position that after a few years becomes limiting, and a professional qualification is required to progress to the next step. For others, the reason is greater range of jobs, job security or a qualification that represents a passport to travel.

In recognition of this phenomenon, the ICAI has taken the step of offering a new path to membership for graduates.

Accountancy is one of the most popular business qualifications for anyone looking to improve their prospects, especially for talented, ambitious and experienced graduates. However, while the Chartered Accountancy qualification still represents one of the most highly-regarded business qualification in Ireland, some restrictions in ICAI's training model (such as the Training Contract) meant that the Chartered Accountancy route was all but unviable for many in this more experienced graduate segment.

Something needed to change. ICAI recognises that the education and training needs of a newly qualified graduate are very different from those who are in the workplace for a number of years. Typically the latter group has more responsibilities in their work and personal lives, and as such a greater level of flexibility is required.

The Elevation Programme delivers the same standard of education as the traditional Chartered Accountancy route, but critically, the education element is followed in its entirety outside of a training contract. As a student on the Elevation Programme you will sit the same exams as other students and will have to meet the same experience requirements that pertain for others.

The Elevation Programme thus enables learners to gain recognition of prior experience, and avail of modular education and greater flexibility in how their practical experience is gained.

Entry and Programme Requirements

• Entry Criteria: The Elevation Programme is available to graduates (including graduates from our sister body the Institute of Accounting Technicians in Ireland).
• To be eligible to enrol through this route you will have worked in any sector at least four years prior to joining the ICAI as a student.
• You will not be required to enter into a training contract. However when you wish to have experience recognised, you should identify a chartered accountant in your workplace to act as a mentor, who will verify your recognised experience.
• Flexibility: The new route will allow you to sit two subjects at a time up to and including the Chartered accountant Proficiency 2 (CAP2) examination.
• Experience requirements: The new route will require you to obtain the same quantum of recognised experience that applies to all those pursuing Chartered Accountancy studies i.e. 3 years for recognised Masters in Accountancy; 3 and a half years for graduates and 4 years for IATI qualified.
• As an Elevation Programme student you can sit all exams prior to gaining your recognised experience for membership. However you are strongly advised to acquire recognised accounting/finance experience prior to sitting the Final Admitting Examination.
• It will be possible to claim credit for prior relevant experience, up to a maximum reduction in training period of 18 months.
• ICAI now recognise exemptions for 10 years from graduation date.
• Time limit: Upon entering the Elevation programme you will have a period of 8 years from date of registration to complete your studies and to gain the requisite recognised experience to enable you to apply to become a member of the Institute.
  

Visit www.elevationprogramme.ie for more information on the Elevation Programme.
For further information about the ICAI, and contact details, please click here.