Professional Training

Take time to research the professional qualifications offered to audit and tax trainees. Each institute also has its own website where you can find further details.

ACA

The Institute of Chartered Accountants in England and Wales is the largest professional accountancy body in Europe and its qualification, the ACA, is recognised internationally as the premier business qualification.

Established by the Royal Charter in 1880, the Institute now has over 128,000 members of which 15,000 currently live and work overseas. The active members of the Institute are employed in industry, finance and commerce, in a wide variety of financial and senior policy-making roles as well as public practice.

Usually graduates enter into a three year training contract (4 years for school leavers) with an employer, who is accredited by the Institute. The contract is designed to help students complete the two elements of training needed for them to qualify as a Chartered Accountant.

ACCA

The Association of Chartered Certified Accountants (ACCA) is the professional body for Chartered Certified Accounts (CCA), Certified Accounting Technicians (CAT) and holders of the Certified Diploma in Accounting and Finance (CDipAF). It is the largest and fastest growing international professional accountancy body in operation, with over 250,000 students and members in 170 countries.

ACCA believes that their qualification represents the ultimate in integrity, flexibility and true vocational opportunity and offers an innovative approach to accountancy training. ACCA provides an opportunity for people of ability, regardless of their background, to succeed in achieving a professional accountancy qualification. It exists to provide an education, training process and structure which combines maximum quality and maximum flexibility.

The examinations are divided into three parts and all papers must be taken in consecutive stages as required by the ACCA. All examinations at all levels must be completed within 10 years, however, on average it takes most students 3-4 years to complete their studies.

The qualification which is intended for those wishing to qualify as a Certified Accountant, has both examination and practical experience components. The practical experience required by graduates involves obtaining a minimum of three years (4 years if school leaver) relevant supervised experience in an accredited establishment.

It is also possible to start ACCA training, once a student has completed the CAT qualification. Once you have attained that CAT you are fully exempt from Part 1 of the ACCA qualification. Training is provided locally through BPP Offshore.

ATT

The Association of Taxation Technicians was established in 1989 under the sponsorship of the Institute of Taxation (now the Chartered Institute of Taxation). The creation of the Association recognised the increasing demand for tax services and the need for a qualification appropriate to many of the individuals working in taxation departments. The Association and its ATT qualification, which is aimed at those employed in industry, commerce and the public sector, as well as professional practices, currently has over 9,000 members, affiliates and registered students.

The Association suggests that students do not sit the taxation examination until they have been registered for at least 7 months. The period of time students have to complete their exams in order to obtain a professional taxation qualification at technician level is three years.

Study is normally by day release (i.e. intensive revision courses) or evening classes.

The examinations involved in obtaining the ATT qualification can be split into two groups, the taxation papers and the law and accounting papers.

CTA

The Chartered Institute of Taxation was founded in 1930 and was granted its Royal Charter in 1994. The purpose of the Institute is to “advance public education in, and promote the study of, the administration and practice of taxation.”

The Chartered Institute of Taxation (CIOT) is the senior professional body in the UK concerned solely with all aspects of taxation. The Institute’s 14,000 members come from a number of professional and occupational backgrounds such as industry, commerce, the public sector and taxation authorities.

To commence the CTA qualification, candidates are required to have successfully completed the ATT qualification or other relevant professional qualification, i.e. ICAEW, ACCA, ICSA. Some relevant qualifications will allow the student to obtain exemptions from some parts of the syllabus. Candidates who possess a BA Hons degree in a relevant subject, i.e. Taxation and Revenue Law may also be able to commence the CTA qualification.

Study is normally by day release or evening classes and in some cases via distance learning courses.