icaew case study software

Jag's Journey

Sharing my life experiences including the Associate Chartered Accountant (ACA) qualification

New ICAEW Exam Software Testing Experience – Exciting ACA Case Study Opportunity

From the above title, you may be intrigued to know what I am talking about exactly. In 2021 there has been the roll out of new ICAEW exam software which is continuing to evolve. As an ICAEW exam qualified student, myself and others were offered the exciting opportunity in May 2021 to trial this new software in an exam environment . The exam of interest was the ACA Case Study , ahead of the July 2021 sitting. I therefore had to take part in exam preparation, sit the exam at an exam centre (some may call me crazy) and provide feedback on the software afterwards. Therefore, in this blog I will be sharing my impressions and experience with the new ICAEW exam software.

Disclaimer : I will not be disclosing details of the ACA Case Study exam that I sat but it was not a real future exam.

Table of Contents

Previous icaew exam software, first impression of the new icaew exam software, trial aca case study exam experience and feedback, icaew digital bookshelf and data analytics software, interesting aca case study facts, software testing opportunity.

Before I get into the details of my experience and findings, I feel that it is important for you to understand the software I was familiar with. For reference, I will call this the “old software “. I sat the ACA Case Study exam in November 2020. This ICAEW exam software had not changed during my ACA Professional Level exams to ACA Advanced Level so it was essentially all that I knew. There was also no ICAEW Digital Bookshelf and resources were all hardcopies . Sorry to those of you who are not happy with this change as not to rub it in but I definitely prefer a hardcopy!

As you can see from the above image of the old ICAEW exam software , at a first glance it looks like Microsoft Excel . However, in actual fact it was much more limited in terms of formulae, functionality, formatting, etc. All exams had to be sat in this software, even those where the answers are majority wordy. For example, Business Planning: Taxation . In order to write sentences , as can be seen in row 7 above, you would have to click the icon to extend the row.

Regarding the ACA Case Study, please see the image below to get a full picture of the old software.

In my tips for the ACA Case Study exam, several of these are relevant to this old software. For example, in this old ICAEW exam software, there were separate tabs for different parts of the question. This meant the executive summary was on a separate tab to each requirement. You could not copy and paste directly into a different tab which made it difficult to write the executive summary. In order to get around this, I had to paste the answers for my requirements into a comment on the Exhibit page so I could then access it on tab 1 for the executive summary.

Another example of where this software was not ideal was for Requirement 1. This can be seen above where you would be asked to compare two financial periods to analyse the movement in financial performance. In this software, I had to manually input each formula to calculate the differences and percentage changes in every cell, one by one . In Excel you could drag a formula down to speed this up.

Additionally, for appendix 1 where you would put together the numbers in a table to see the movement and percentage change, it was in the same tab as the writing to analyse this. This meant I would have to scroll back and forth to see the above numbers. To get around this I would write/copy across all the calculated numbers from Requirement 1 onto a printed out, blank table I had pre-prepared. This is so I did not have to keep scrolling upwards and downwards between my appendix table at the top of the software and the written narrative underneath.

As you read on and see the new software, you will find the above issues have been rectified . As per the ICAEW Case Study Made Easy blog, it is still worth joining my journey. This is because I will provide you with very useful planning sheets as well as help with structure and timing ! The pre-populated table (R1) is still a great idea even if you do not need to write out the most recent figures. This is because it gives you a template you can copy out into the exam with PY figures.

If you have not yet had a chance to look at the new software, I will show you some images below. Heads up, there have been MASSIVE changes . If you are due to sit your ACA Advanced Level exams on the new ICAEW exam software in July 2021, I would suggest you start practising on this as soon as possible. You can access it from the ICAEW website here .

Before I was due to sit the trial ACA Case Study exam in this new ICAEW exam software, I was able to access it beforehand. I made some notes on my reaction and first impressions when I first saw it and this includes “what on earth??? HUGE change” .

If you compare this to the old software that I was used to and grew to love, you will understand why my mouth dropped. I think what is great about this new ICAEW exam software is that it is quite easy to understand how to use it. The Word Processing area clearly states that it is the only area that will be marked and the Spreadsheet area will not. Therefore, you must copy this across.

When reviewing the software, I was questioning how this would work in relation to the ACA Case Study exam. Here are my thoughts and findings after spending some time to play around with the new software:

• The initial concern I had based on the above image was that there would be a lot of scrolling required to see the Word Processing area as the box was much smaller now. However, you can expand and minimise areas to suit you by simply dragging them by the three dot icon, which is actually very helpful.
• It is nice there’s a calculator available but I would prefer to use my own physical calculator.
• There is still the sticky notes/comments feature which could be helpful for the Executive Summary as with the old software.
• I was intrigued to know how the software would work for the different tabbed answers to each requirement. This did not appear to be very clear.
• It felt as though it was easier to see the exhibits and requirements in this new software.
• The Spreadsheet area seems as though there is much more functionality . However, I was hopeful that it would copy across to the Word Processing area easily without getting distorted.
• There is also an accessibility feature where you can change the colour of the software. The white screen above could be changed to blue, which could help those who are dyslexic. This can be seen in the blog post image.

As you may have gathered from the list above, I did have some questions regarding how this exam would go and was quite apprehensive . Before I share my detailed findings I would like to give an overall summary. I thought this new software was brilliant and I genuinely mean that. As per the old software and the limitations, it meant I had to find ways around it. However, this new software does not require the steps I outlined earlier and it honestly saved time . I finished the exam with 15 minutes to spare which is great for the very time pressured Case Study!

Here is why I thought it was so great:

• Having the one Word Processing area with the ability to see the Spreadsheet area at the same time is genius for Case Study. You can see your appendix and narrative at once so you do not need to waste time writing it out. Please bear in mind that the exam centre usually has bigger screens than those when sitting remotely so it worked very nicely.
• I also love that Excel allows you to drag down a formula because this also saves a lot of time and the “$” symbol works in this.
• If you were wondering, there are not separate tabs for each requirement. All answers are to be written in the one Word Processing area so this means you can still see what you have written when writing the Executive Summary. I did not need the sticky notes/comments feature after all.
• It was also very easy to copy across from the Spreadsheet area to Word and there was no distorting of any kind. I used the keyboard shortcuts (“ctrl + c” and “ctrl + v”) rather than right clicking which I have heard may have issues.
• Being able to adjust the general layout was just as easy as with the practise software. I love that you can expand Excel or Word as it suits you as well as accessing the exam exhibits at the same time.

On the other hand, I did also jot a few points down during the exam to keep track of any minor issues that I did experience with the new exam delivery software. This is why I did not rate the functionality of the Spreadsheet area the highest. These issues include:

• The cut and paste function only works if you are pasting directly into blank cells. If you try to paste over cells with writing in, it will delete parts and not paste the whole selection. You can get around this by cutting and pasting elsewhere first so the desired paste area is blank and then pasting.
• The automatic decimal places for percentages is 2dp but in Case Study 1dp would be better.
• Where a number in a cell is formula driven , Excel would not allow me to alter the decimal places of the answer.
• The software did not allow me to copy and paste writing from the exhibits into the Excel area. For example, where I wanted to copy an expense category. It did allow this in the Word area though which was useful.
• Initially I thought you could not copy and paste a formula driven answer. “#VALUE” would appear. However, the paste special function did work and was an easy way to get around this.
• There were a few instances where format painter did not always work on numbers.

The above points were all very minor and in the grand scheme of things, I definitely saved more time with the new ICAEW exam software than wasted time. I did think during the exam it would have been useful if the Spreadsheet area had more tabs but again, this was very minor. As I mentioned above, the new exam delivery software is a huge improvement even with these minor issues.

If you are looking for details of Bibliu, the ICAEW digital bookshelf or the new data analytics software, unfortunately you will not find details of these in this article. This is because they are not used in the ACA Case Study exam so I did not access these. You can take in any materials you would like into this exam, including the Advanced Information (AI). It is completely open book . The data analytics software is also not examined in this exam.

With that being said, I am keen to put out a blog on this in the near future. If you are an ACA student who has real exam experience with any of these, please get in touch at [email protected] . I would love to hear from you and collaborate so we can help others on this area together. I will definitely be posting a blog on this so join the journey to stay tuned!

As I had to sit an ACA Case Study exam again, there was also a facilitation day beforehand. This was of course not as detailed as when I studying for the exam in college in 2020 because we are students who have already passed . Therefore, this amount of detail was not required and we were trusted to be able to prepare for parts of the exam ourselves. Additionally, the purpose is to test the new ICAEW exam software and so our marks in this exam did not matter.

That being said, the lovely facilitator still did make some interesting points that I thought I would share:

• To prepare for the Case Study and pull together the AI, those responsible actually go out to companies to understand their business. They are of course bound by confidentiality but it is interesting and perhaps obvious actually considering how detailed the AI is.
• The Ethics points are usually found in the article of the exam. This means the areas raised can vary in formality and different sources can be used.
• As actually stated in the AI, management accounts are used rather than published accounts. This is so there are no disclosure/compliance issues raised.
• In the AI, they deliberately provide three years of management accounts to give the student lots of scope for how to analyse movements.

This new ICAEW exam software testing opportunity is one that I am very glad I got involved with. If you are given the chance to take part in the future, I would encourage you to do so. Through this, I was able to provide valuable feedback and if there were any major issues, these would have been discovered during this sitting rather than the real exam in July. For example, there were issues with the log in process and screens went off during the exam. The test centre would rather this happen for us so they can learn from it beforehand than to students in exams where it really matters.

Note : due to the screens going off, our exams were paused and we had to log in again. Fortunately, the software does automatically save as you go along so that was reassuring as I did not need to redo anything!

If you are due to sit the ACA Case Study exam shortly, good luck and I hope this blog helped! Other blogs on the ACA Case Study include the Case Study Made Easy , Mastering the Marking Key and How much Preparation is Needed?

11 comments

Thanks for this! Could you create new tabs on the spreadsheet area? You can in the practice version.

You’re welcome! I could not in the practise exam software – that’s something I thought would have been useful. There were enough rows to scroll down though so it wasn’t too bad. Perhaps one to see on exam day!

This is really helpful, thanks!

Quick q – is there a separate tab for the appendix or do you put each appendix with each req?

You’re welcome!

It was just the one Word processing document so you’d copy and paste the appendix in and do it with each req as you go along.

There’s a fair bit of scrolling involved to see the appendix in Word whilst you write up your answers to the req. It was easiest to paste it in and then see it in the Excel part as you write it up.

Hope this helps!

• Pingback: How To Successfully Pass BST - ICAEW ACA Business Strategy and Technology - Jag's Journey
• Pingback: How Difficult REALLY are the ICAEW ACA Exams? With ACA Exam Difficulty Ranking and Proven ICAEW ACA Pass Rates - Jag's Journey
• Pingback: ICAEW ACA Case Study - How Much Preparation Is Enough? - Jag's Journey
• Pingback: How to Pass the Difficult Tax Compliance (ACA TC) Exam - ICAEW Professional Level - Jag's Journey
• Pingback: 15 ACA Exams Breakdown – Part 3 ACA Advanced Level Exams - Jag's Journey
• Pingback: ICAEW Case Study Made Easy - How to Pass ACA Case Study - Jag's Journey
• Pingback: The Weekend Before Sitting ACA Advanced Level Exams: Last Minute Tips - Jag's Journey

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Automated page speed optimizations for fast site performance

FAR - Full Series

Learn how to ace the aca certificate level exams, financial accounting and reporting (far) , classroom tuition, online tuition, how to pass the icaew aca case study exam.

Updated: Feb 22, 2023

This article offers advice on how to pass the ACA Case Study exam. Written by a multiple prize-winning ACA tutor who scored 92% in the Case Study exam and won the ICAEW prize for the highest score in the world, this is essential reading for any student preparing for their Case Study exam.

How to Ace the ACA Case Study Exam

The Case Study is unlike most other ACA exams as there is very little technical content to learn. Therefore, students who are used to memorising technical concepts and then ‘smashing out the question bank’ will be perplexed when they are presented with 40+ pages of advance information and a Case Study exam paper seemingly testing nothing they have learnt in their other 14 exams.

However, the Case Study is actually very similar to the other ACA exams in that the three exam requirements are always the same, as are the mark schemes. By appreciating the consistency in the exam requirements and the mark schemes, you can develop your exam technique to ensure that you tick all the 'boxes' on the mark scheme and complete your ACA qualification in style.

In light of this, we believe that there are 5 steps to Case Study success:

1. Understand how Case Study is marked

2. Understand what each of the three requirements involve

3. Understand what information is provided in the Advance Information (AI) and what is provided in the exam

4. Learn the Case Study exam technique which ensures that you hit all the boxes on the mark scheme

5. Practice mock exams to master your exam technique

Step 1: Understand how Case Study is marked

The Case Study marking process is objective: there is a set marking key for each requirement and if a student’s report includes a point which is on the mark scheme, they will get the mark. This is not like an academic essay where the examiner forms an overall opinion of the piece of work and then decides whether it is good enough to pass; the Case Study marking grid is rigid. Whilst it can be frustrating that making a valid point which is not on the mark scheme does not score a mark, it does mean that the marking process is very transparent and easy to navigate. Below is an example from a Case Study mark scheme to illustrate what I mean by points and boxes.

Step 2: Understand what each of the three requirements involve

As explained above, the three requirements are broadly the same in each Case Study exam.

R1: Analyse the financial performance of the company

R2: Evaluate a financial proposal

R3: Evaluate an opportunity or issue

The mark scheme for each requirement is also the same. This makes the exam fairly predictable.

By having a look at recent past papers, you will soon start see the consistency in the requirements and build an understanding of what each requirement involves.

Step 3: Understand what information is provided in the AI and what is provided in the exam

In addition to the exam requirements and mark schemes being in the same format every time, the AI is also in the same format every time (albeit a different business with different issues).

By working through past Case Study exams, you will soon start to see that the AI always has the same exhibits with very similar types of information e.g. industry background, prior year accounts, key customers / suppliers, strategic goals and risks. Similarly, all the exams include the same exhibits with very similar types of information.

Having completed the exam, it is important to mark it and reflect on what information came from the AI and what came from the exam exhibits. You will soon start to see that the majority of mark scoring points come from the exam exhibits rather than the AI. You will also learn which types of information in the AI tend to be rewarded in the mark scheme and where in the mark scheme they are rewarded, i.e. which box.

Step 4: Learn the Case Study exam technique which ensures that you hit all the boxes on the mark scheme

Having understood what the exam requirements are and how they are marked, you need to develop an exam technique which ensures that your report includes the points which are included on the mark scheme. Fortunately for you, we have developed an exam technique which does this and it has resulted in two students winning the prize for the highest mark in the world (90% and 92%), another winning a prize for the highest mark in their region (88%) and another achieving the highest mark in their firm (81%)!

Given the practical nature of exam technique, it is not possible to explain this in text so you can watch a free class here which teaches you exactly how to ace Requirement 1 and get a prize-winning mark.

Step 5: Practice mock exams to master your exam technique

By this stage in your ACA journey, you will already know that question practice is key to success. Having learnt the prize-winning technique, you then need to practice mock exams on your case study business under exam conditions so that you master the technique and sign off your ACA in style!

Need Help Passing the ACA Case Study Exam?

Details of our live tuition, video tuition, mock exams and proforma reports can be found here .

About the Author

Kieran Doe is a Senior ACA Tutor at ACA Masters. Kieran won ICAEW prizes for his performance in Financial Accounting and Reporting, Tax, Financial Management, Audit, Business Strategy and Case Study. This is in addition to winning several prizes at university for various Accounting, Management, Business and Economics subjects.

Kieran’s tuition is based around the learning techniques and exam strategies which enabled him to win prizes for all the subjects he teaches. Under his guidance, several of his ACA students have also won ICAEW prizes.

Recent Posts

How to Pass the ICAEW ACA Accounting Exam

Get the Easy Marks!

How to Pass the ICAEW ACA Corporate Reporting (CR) Exam

Advanced Level

The study packs for Corporate Reporting and Strategic Business Management include a:

• self-test questions and worked examples;
• study guide;
• module syllabus; and
• skills and technical knowledge grids
• Question bank

The Corporate Reporting supplement is aimed at students who have studied Financial Accounting and Reporting UK GAAP and are moving on to study Corporate Reporting, which is based on IFRS.

The study pack for Case Study includes:

• Digital workbook containing
• Two Case Study walkthroughs (containing marking keys)

The advance information and exams for each walkthrough are accessed on the ICAEW exam resources page. Make sure to visit the Exam Resources pages where you can access questions within the practice exam software, articles, errata sheets, study tips, examiner guidance, and study webinars that help to put your learning into context.

Advanced Level Case Study

Buy Editions

Advanced Level Corporate Reporting

Advanced level strategic business management.

Discover the latest MyICAEW app for ACA students and members, available to download now. Find out more

• Benefits of membership

Gain access to world-leading information resources, guidance and local networks.

• Visit Benefits of membership
• Becoming a member

98% of the best global brands rely on ICAEW Chartered Accountants.

• Visit Becoming a member
• Pay fees and subscriptions

Your membership subscription enables ICAEW to provide support to members.

Fees and subscriptions

Member survey.

We have partnered with Truth Consulting to conduct a detailed study of how members view their membership offer.

Find out more

Member rewards

Take advantage of the range of value added or discounted member benefits.

• Member rewards – More from your membership
• Technical and ethics support
• Support throughout your career

Information and resources for every stage of your career.

From software start-ups to high-flying airlines and high street banks, 98% of the best global brands rely on ICAEW Chartered Accountants. A career as an ICAEW Chartered Accountant means the opportunity to work in any organisation, in any sector, whatever your ambitions.

Everything you need to know about ICAEW annual membership fees, community and faculty subscriptions, eligibility for reduced rates and details of how you can pay.

Membership administration

Welcome to the ICAEW members area: your portal to members'-only content, offers, discounts, regulations and membership information.

• Membership regulations

Members are required to supply certain information to the members’ registrar and to pay annual fees and subscriptions. These matters are governed by regulations.

• Continuing Professional Development (CPD)

Continuing Professional Development (CPD) is an integral part of being a successful ICAEW Chartered Accountant.

The ICAEW Chartered Accountant qualification, the ACA, is one of the most advanced learning and professional development programmes available. It is valued around the world in business, practice and the public sector.

ACA for employers

Train the next generation of chartered accountants in your business or organisation. Discover how your organisation can attract, train and retain the best accountancy talent, how to become authorised to offer ACA training and the support and guidance on offer if you are already providing training.

Digital learning materials via BibliU

All ACA, ICAEW CFAB and Level 4 apprenticeship learning materials are now digital only. Read our guide on how to access your learning materials on the ICAEW Bookshelf using the BibliU app or through your browser.

Take a look at ICAEW training films

Focusing on professional scepticism, ethics and everyday business challenges, our training films are used by firms and companies around the world to support their in-house training and business development teams.

Attract and retain the next generation of accounting and finance professionals with our world-leading accountancy qualifications. Become authorised to offer ACA training and help your business stay ahead.

CPD guidance and help

Continuing Professional Development (CPD) is an integral part of being a successful ICAEW Chartered Accountant. Find support on ICAEW's CPD requirements and access resources to help your professional development.

ICAEW flagship events

ICAEW boasts an extensive portfolio of industry-leading conferences. These flagship events offer the opportunity to hear from and interact with all the key players in the industry. Find out what's coming up.

Leadership Development Programmes

ICAEW Academy’s in-depth leadership development programmes take a holistic approach to combine insightful mentoring or coaching, to exclusive events, peer learning groups and workshops. Catering for those significant transitions in your career, these leadership development programmes are instrumental to achieving your ambitions or fulfilling your succession planning goals.

Specialist Finance Qualifications & Programmes

Whatever future path you choose, ICAEW will support the development and acceleration of your career at each stage to enhance your career.

Why a career in chartered accountancy?

If you think chartered accountants spend their lives confined to their desks, then think again. They are sitting on the boards of multinational companies, testifying in court and advising governments, as well as supporting charities and businesses from every industry all over the world.

• Why chartered accountancy

Search for qualified ACA jobs

Matching highly skilled ICAEW members with attractive organisations seeking talented accountancy and finance professionals.

Volunteering roles

Helping skilled and in-demand chartered accountants give back and strengthen not-for-profit sector with currently over 2,300 organisations posting a variety of volunteering roles with ICAEW.

• Search for volunteer roles
• Get ahead by volunteering

Advertise with ICAEW

From as little as £495, access to a pool of highly qualified and ambitious ACA qualified members with searchable CVs.

• Start your career

Explore a career that opens doors into any industry and where your passions are. ICAEW Chartered Accountants are supporting economies, businesses and initiatives worldwide. Want to join the ICAEW Community?

Qualified ACA careers

Find Accountancy and Finance Jobs

Voluntary roles

Find Voluntary roles

While you pursue the most interesting and rewarding opportunities at every stage of your career, we’re here to offer you support whatever stage you are or wherever you are in the world and in whichever sector you have chosen to work.

ACA students

"how to guides" for aca students.

• ACA student guide
• How to book an exam
• How to apply for credit for prior learning (CPL)

Exam resources

Here are some resources you will find useful while you study for the ACA qualification.

• Certificate Level
• Professional Level
• Advanced Level

Digital learning materials

All ACA learning materials are now digital only. Read our guide on how to access your learning materials on the ICAEW Bookshelf via the BibliU app, or through your browser.

• Read the guide

My online training file

Once you are registered as an ACA student, you'll be able to access your training file to log your progress throughout ACA training.

• Access your training file
• Student Insights

Fresh insights, innovative ideas and an inside look at the lives and careers of our ICAEW students and members.

• Read the latest articles

System status checks

Getting started.

Welcome to ICAEW! We have pulled together a selection of resources to help you get started with your ACA training, including our popular 'How To' series, which offers step-by-step guidance on everything from registering as an ACA student and applying for CPL, to using your online training file.

Credit for prior learning (CPL)

Credit for prior learning or CPL is our term for exemptions. High quality learning and assessment in other relevant qualifications is appropriately recognised by the award of CPL.

Apply for exams

What you need to know in order to apply for the ACA exams.

The ACA qualification has 15 modules over three levels. They are designed to complement the practical experience you will be gaining in the workplace. They will also enable you to gain in-depth knowledge across a broad range of topics in accountancy, finance and business. Here are some useful resources while you study.

• Exam results

You will receive your results for all Certificate Level exams, the day after you take the exam and usually five weeks after a Professional and Advanced Level exam session has taken place. Access your latest and archived exam results here.

Training agreement

Putting your theory work into practice is essential to complete your ACA training.

Student support and benefits

We are here to support you throughout your ACA journey. We have a range of resources and services on offer for you to unwrap, from exam resources, to student events and discount cards. Make sure you take advantage of the wealth of exclusive benefits available to you, all year round.

• Applying for membership

The ACA will open doors to limitless opportunities in all areas of accountancy, business and finance anywhere in the world. ICAEW Chartered Accountants work at the highest levels as finance directors, CEOs and partners of some of the world’s largest organisations.

ACA training FAQs

Do you have a question about the ACA training? Then look no further. Here, you can find answers to frequently asked questions relating to the ACA qualification and training. Find out more about each of the integrated components of the ACA, as well as more information on the syllabus, your training agreement, ICAEW’s rules and regulations and much more.

• Anti-money laundering

Guidance and resources to help members comply with their legal and professional responsibilities around AML.

Technical releases

ICAEW Technical Releases are a source of good practice guidance on technical and practice issues relevant to ICAEW Chartered Accountants and other finance professionals.

• ICAEW Technical Releases
• Thought leadership

ICAEW's Thought Leadership reports provide clarity and insight on the current and future challenges to the accountancy profession. Our charitable trusts also provide funding for academic research into accountancy.

• Academic research funding

Technical Advisory Services helpsheets

Practical, technical and ethical guidance highlighting the most important issues for members, whether in practice or in business.

• ICAEW Technical Advisory Services helpsheets

Bloomsbury – free for eligible firms

In partnership with Bloomsbury Professional, ICAEW have provided eligible firms with free access to Bloomsbury’s comprehensive online library of around 80 titles from leading tax and accounting subject matter experts.

• Bloomsbury Accounting and Tax Service

Country resources

Our resources by country provide access to intelligence on over 170 countries and territories including economic forecasts, guides to doing business and information on the tax climate in each jurisdiction.

Industries and sectors

Thought leadership, technical resources and professional guidance to support the professional development of members working in specific industries and sectors.

• Audit and Assurance

View a range of practical resources on auditing and assurance, arranged by theme, including ISA specific guidance, subject area and sector specific assurance.

The most up-to-date thought leadership, insights, technical resources and professional guidance to support ICAEW members working in and with industry with their professional development.

• Corporate Finance

Companies, advisers and investors making decisions about creating, developing and acquiring businesses – and the wide range of advisory careers that require this specialist professional expertise.

• Corporate governance

Corporate governance is the system by which companies are directed and controlled. Find out more about corporate governance principles, codes and reports, Board subcommittees, roles and responsibilities and shareholder relations. Corporate governance involves balancing the interests of a company’s many stakeholders, such as shareholders, employees, management, customers, suppliers, financiers and the community. Getting governance right is essential to build public trust in companies.

Corporate reporting

View a range of practical resources on UK GAAP, IFRS, UK regulation for company accounts and non-financial reporting. Plus find out more about the ICAEW Corporate Reporting Faculty.

Expert analysis on the latest national and international economic issues and trends, and interviews with prominent voices across the finance industry, alongside data on the state of the economy.

• Financial Services

View articles and resources on the financial services sector.

• Practice resources

For ICAEW's members in practice, this area brings together the most up-to-date thought leadership, technical resources and professional guidance to help you in your professional life.

Public Sector

Many ICAEW members work in or with the public sector to deliver public priorities and strong public finances. ICAEW acts in the public interest to support strong financial leadership and better financial management across the public sector – featuring transparency, accountability, governance and ethics – to ensure that public money is spent wisely and that public finances are sustainable.

Sustainability and climate change

Sustainability describes a world that does not live by eating into its capital, whether natural, economic or social. Members in practice, in business and private individuals all have a role to play if sustainability goals are to be met. The work being undertaken by ICAEW in this area is to change behaviour to drive sustainable outcomes.

The Tax area has information and guidance on technical and practical tax matters. There are links to events, the latest tax news and the Tax Faculty’s publications, including helpsheets, webinars and Tax representations.

Keep up-to-date with tech issues and developments, including artificial intelligence (AI), blockchain, big data, and cyber security.

Trust & Ethics

Guidance and resources on key issues, including economic crime, business law, better regulation and ethics. Read through ICAEW’s Code of Ethics and supporting information.

Communities

ICAEW Communities

Information, guidance and networking opportunities on industry sectors, professional specialisms and at various stages throughout your career. Free for ICAEW members and students.

• Discover a new community

ICAEW Faculties

The accountancy profession is facing change and uncertainty. The ICAEW Faculties can help by providing you with timely and relevant support.

• Choose to join any of the faculties

UK groups and societies

We have teams on the ground in: East of England, the Midlands, London and South East, Northern, South West, Yorkshire and Humberside, Wales and Scotland.

• Access your UK region
• Worldwide support and services

Support and services we offer our members in Africa, America, Canada, the Caribbean, Europe, Greater China, the Middle East, Oceania and South East Asia.

• Discover our services

ICAEW Faculties are 'centres of technical excellence', strongly committed to enhancing your professional development and helping you to meet your CPD requirements every year. They offer exclusive content, events and webinars, customised for your sector - which you should be able to easily record, when the time comes for the completion of your CPD declaration. Our offering isn't exclusive to Institute members. As a faculty member, the same resources are available to you to ensure you stay ahead of the competition.

Communities by industry / sector

Communities by life stage and workplace, communities by professional specialism, local groups and societies.

We aim to support you wherever in the world you work. Our regional offices and network of volunteers run events and provide access to local accounting updates in major finance centres around the globe.

Election explainers

ICAEW experts offer simple guides to help understand the technical, economic jargon that will be at the heart of political debates in the coming weeks.

Insights pulls together the best opinion, analysis, interviews, videos and podcasts on the key issues affecting accountancy and business.

• See the latest insights

ICAEW podcasts

ICAEW produces two podcast series that count towards your CPD: Accountancy Insights for news from across the profession, and The Tax Track for specialist analysis from the ICAEW Tax Faculty.

Professional development and skills

With new requirements on ICAEW members for continuing professional development, we bring together resources to support you through the changes and look at the skills accountants need for the future.

• Visit the hub
• Diversity and Inclusion

Diversity and inclusion is a key pillar of ICAEW's strategy. Discover the latest insights on equality, diversity and inclusion. You can also join our Diversity & Inclusion Community.

• Find out more on our hub
• Join the community

Insights specials

A listing of one-off Insights specials that focus on a particular subject, interviewing the key people, identifying developing trends and examining the underlying issues.

Top podcasts

Insights by topic.

ICAEW Regulation

• Regulatory News

View the latest regulatory updates and guidance and subscribe to our monthly newsletter, Regulatory & Conduct News.

• Regulatory Consultations

Strengthening trust in the profession

Our role as a world-leading improvement regulator is to strengthen trust and protect the public. We do this by enabling, evaluating and enforcing the highest standards in the profession. 

Regulatory applications

Find out how you can become authorised by ICAEW as a regulated firm. 

ICAEW codes and regulations

Professional conduct and complaints, statutory regulated services overseen by icaew, regulations for icaew practice members and firms, additional guidance and support, popular search results.

• Practice Exam Software
• Training File
• Ethics Cpd Course
• Routes to the ACA
• ACA students membership application
• Join as a member of another body
• How much are membership fees?
• How to pay your fees
• Receipts and invoices
• What if my circumstances have changed?
• Difficulties in making changes to your membership
• Faculty and community subscription fees
• Updating your details
• Complete annual return
• Promoting myself as an ICAEW member
• Verification of ICAEW membership
• Become a life member
• Become a fellow
• Request a new certificate
• Report the death of a member
• Practising certificates
• Advancement to fellowship regulations
• Regulations relating to membership cessation, readmission and resignation
• ICAEW's guide to directors' duties and responsibilities
• Information to be supplied by members
• Payment of annual subscription
• Power to change subscription fees
• New members
• Career progression
• Career Breakers
• Volunteering at schools and universities
• ICAEW Member App
• Working internationally
• Self employment
• Support Members Scheme
• Your guide to CPD
• CPD learning resources
• Online CPD record
• How to become a chartered accountant
• Register as a student
• Train as a member of another body
• More about the ACA and chartered accountancy
• How ACA training works
• Become a training employer
• Access the training file
• Why choose the ACA
• Training routes
• Employer support hub
• Get in touch
• Apprenticeships with ICAEW
• A-Z of CPD courses by topic
• Firms' guide to CPD
• ICAEW Business and Finance Professional (BFP)
• ICAEW Annual Conference 2024
• Restructuring & Insolvency Conference
• Virtual CPD Conference
• Virtual Healthcare Conference 2024
• All our flagship events
• Financial Talent Executive Network (F-TEN®)
• Developing Leadership in Practice (DLiP™)
• Network of Finance Leaders (NFL)
• Women in Leadership (WiL)
• Mentoring and coaching
• Partners in Learning
• Board Director's Programme e-learning
• Corporate Finance Qualification
• Diploma in Charity Accounting
• ICAEW Certificate in Insolvency
• ICAEW Data Analytics Certificate
• Financial Modeling Institute’s Advanced Financial Modeler Accreditation
• ICAEW Sustainability Certificate for Finance Professionals
• All specialist qualifications
• Team training
• Why become an ICAEW Chartered Accountant?
• How to become an ICAEW Chartered Accountant
• Start your training
• Early careers events and resources
• Search employers
• Find a role
• Role alerts
• Organisations
• Practice support – 11 ways ICAEW and CABA can help you
• News and advice
• ICAEW Volunteering Hub
• Support in becoming a chartered accountant
• Vacancies at ICAEW
• ICAEW boards and committees
• Exam system status
• ICAEW systems: status update
• Changes to our qualifications
• How-to guides for ACA students
• Apply for credits - Academic qualification
• Apply for credits - Professional qualification
• Credit for prior learning (CPL)/exemptions FAQs
• Applications for Professional and Advanced Level exams
• Applications for Certificate Level exams
• Tuition providers
• Latest exam results
• Archived exam results
• Getting your results
• Marks feedback service
• Exam admin check
• Training agreement: overview
• Professional development
• Ethics and professional scepticism
• Practical work experience
• Access your online training file
• How training works in your country
• Student rewards
• TOTUM PRO Card
• Student events and volunteering
• Xero cloud accounting certifications
• Student support
• Join a community
• Wellbeing support from caba
• Student mentoring programme
• Student conduct and behaviour
• Code of ethics
• Fit and proper
• Level 4 Accounting Technician Apprenticeship
• Level 7 Accountancy Professional Apprenticeship
• AAT-ACA Fast Track FAQs
• ACA rules and regulations FAQs
• ACA syllabus FAQs
• ACA training agreement FAQs
• Audit experience and the Audit Qualification FAQs
• Independent student FAQs
• Practical work experience FAQs
• Professional development FAQs
• Six-monthly reviews FAQs
• Ethics and professional scepticism FAQs
• Greater China
• Latin America
• Middle East
• North America
• Australasia
• Russia and Eurasia
• Southeast Asia
• Charity Community
• Construction & Real Estate
• Energy & Natural Resources Community
• Farming & Rural Business Community
• Forensic & Expert Witness
• Global Trade Community
• Healthcare Community
• Internal Audit Community
• Manufacturing Community
• Media & Leisure
• Portfolio Careers Community
• Small and Micro Business Community
• Small Practitioners Community
• Travel, Tourism & Hospitality Community
• Valuation Community
• Audit and corporate governance reform

Professional judgement

Practising auditor competency framework.

• Regulation and working in audit
• Internal audit resource centre
• ICAEW acting on audit quality
• Everything business
• Latest Business news from Insights
• Strategy, risk and innovation
• Business performance management
• Financial management
• Finance transformation
• Economy and business environment
• Leadership, personal development and HR
• Webinars and publications
• Business restructuring
• The Business Finance Guide
• Capital markets and investment
• Corporate finance careers
• Corporate Finance Faculty
• Debt advisory and growth finance
• Mergers and acquisitions
• Private equity
• Start-ups, scale-ups and venture capital
• Transaction services
• Board committees and board effectiveness
• Corporate governance codes and reports
• Corporate Governance Community
• Principles of corporate governance
• Roles, duties and responsibilities of Board members
• Stewardship and stakeholder relations
• Corporate Governance thought leadership
• Corporate reporting resources
• Small and micro entity reporting
• IFRS Accounting Standards
• UK Regulation for Company Accounts
• Non-financial reporting
• Improving Corporate Reporting
• Economy home
• ICAEW Business Confidence Monitor
• Autumn Budget 2024
• Economy explainers
• ICAEW Manifesto 2024
• Energy crisis
• Levelling up: rebalancing the UK’s economy
• Resilience and Renewal: Building an economy fit for the future
• Social mobility and inclusion
• Investment management
• Inspiring confidence
• Setting up in practice
• Running your practice
• Supporting your clients
• Practice technology
• TAS helpsheets
• Support for business advisers
• Join ICAEW BAS
• Public Sector hub
• Public Sector Audit and Assurance
• Public Sector Finances
• Public Sector Financial Management
• Public Sector Financial Reporting
• Public Sector Learning & Development
• Public Sector Community
• Latest public sector articles from Insights
• Making COP count
• Climate hub
• Sustainable Development Goals
• Accountability
• Modern slavery
• Finance for the Future Awards
• Resources collection
• Sustainability Committee
• Sustainability & Climate Change community
• Sustainability and climate change home
• Tax Faculty
• Budgets and legislation
• Business tax
• Devolved taxes
• Employment taxes
• International taxes
• Making Tax Digital
• Personal tax
• Property tax
• Stamp duty land tax
• Tax administration
• Tax compliance and investigation
• UK tax rates, allowances and reliefs
• Artificial intelligence
• Blockchain and cryptoassets
• Cyber security
• Data Analytics Community
• Digital skills
• Excel community
• Finance in a Digital World
• IT management
• Technology and the profession
• Trust & Ethics home
• Better regulation
• Business Law
• UK company law
• Data protection and privacy
• Economic crime
• Help with ethical problems
• ICAEW Code of Ethics
• ICAEW Trust and Ethics team.....
• Solicitors Community
• Forensic & Expert Witness Community
• Latest articles on business law, trust and ethics
• Audit and Assurance Faculty
• Corporate Reporting Faculty
• Financial Services Faculty
• Academia & Education Community
• Construction & Real Estate Community
• Entertainment, Sport & Media Community
• Retail Community
• Black Members Community
• Career Breakers Community
• Diversity & Inclusion Community
• Women in Finance Community
• Personal Financial Planning Community
• Restructuring & Insolvency Community
• Sustainability and Climate Change Community
• London and East
• Yorkshire and Humberside
• European public policy activities
• ICAEW Middle East
• Latest news
• The World’s Fastest Accountant
• Access to finance special
• Attractiveness of the profession
• Audit and Fraud

Audit and technology

• Adopting non-financial reporting standards
• Cost of doing business
• Mental health and wellbeing
• Pensions and Personal Finance
• Ukraine crisis: central resource hub
• More specials ...
• The economics of biodiversity
• How chartered accountants can help to safeguard trust in society
• Video: The financial controller who stole £20,000 from her company
• It’s time for chartered accountants to save the world
• Video: The CFO who tried to trick the market
• Video: Could invoice fraud affect your business?
• Group audit and the forthcoming AI Bill
• Why are we taxing tourists?
• Business confidence, local authority finance, probate delays, and tax reform
• Why are female-led startups so underfunded?
• How to get Britain growing
• Groupthink: the boardroom’s most pervasive problem?
• Corporate reporting update and VAT on private hire vehicles
• AI in audit: the good, the bad and the ugly
• Company size thresholds and CGT on residences
• Lessons in leadership from ICAEW's CEO
• So you want to be a leader?
• More podcasts...
• Top charts of the week
• EU and international trade
• CEO and President's insights
• Sponsored content
• Insights index
• Charter and Bye-laws
• Archive of complaints, disciplinary and fitness processes, statutory regulations and ICAEW regulations
• Qualifications regulations
• Training and education regulations
• How to make a complaint
• Guidance on your duty to report misconduct
• Public hearings
• What to do if you receive a complaint against you
• Anti-money laundering supervision
• Working in the regulated area of audit
• Local public audit in England
• Probate services
• Designated Professional Body (Investment Business) licence
• Consumer credit
• Quality Assurance monitoring: view from the firms
• The ICAEW Practice Assurance scheme
• Licensed Practice scheme
• Professional Indemnity Insurance (PII)
• Clients' Money Regulations
• Taxation (PCRT) Regulations
• ICAEW training films
• Helpsheets and guidance by topic
• ICAEW's regulatory expertise and history

Helping audit professionals understand the competencies they should develop as they move towards becoming a responsible individual (RI), and how to maintain those skills, including when they are an RI.

Supporting auditors

Standards-based.

Created using the competency areas specified for responsible individuals within IES8.

Career stages

Outlines competencies needed at three core career stages: qualified, manager and responsible individual.

Skills development

Self-assessment tool to track current skillsets and plan future professional development.

What is the framework?

The ICAEW Practising Auditor Competency Framework is guidance to support members as they develop competency in their audit roles.

It is not a required framework for becoming a responsible individual (RI), but aims to help audit professionals think about the competencies they need as they move towards becoming an RI, as well as those they will need in that role.

The framework is not a comprehensive list of skills and competencies an RI should have. Instead, the framework is based on the professional competency areas specified in respect of RIs (referred to as engagement partners) within International Education Standard 8 (IES8).

The framework builds on IES8 guidance to cover an auditor’s progression from newly qualified to RI and is a self-assessment tool to help auditors to identify their individual learning needs. The framework builds on the  competency/skills ‘ladders’  requirements within ACA training, this means that some competencies may be achieved before qualification. 

More than knowledge

Professional competence goes beyond knowledge of principles, standards, concepts, facts and procedures. It requires the integration and application of:

• domain knowledge (including technical competence),
• professional skills, and
• professional values, behaviours and ethics.

A flexible tool

Each member’s career and learning journey is different, and experience is rarely gained in a linear way. The framework has been designed to enable flexibility, meaning that auditors can select the skills and competencies relevant to them and their experience, and then assess themselves against the skills and competencies identified.

Using the framework

1. The framework outlines a series of competency areas, covering:

• technical knowledge (such as, audit, tax and quality management);
• understanding the audit entity and its environment;
• non-technical skills (such as, communication); and
• professionalism (values, ethics).

2. These competency areas have been explained and categorised across three levels of responsibility: qualified, manager and responsible individual.

3. A scale has been created to enable members to assess their level of competency:

• Level 1: Competency : demonstrates requisite knowledge and skills.
• Level 2: Proficiency : demonstrates mastery of knowledge and skills.
• Level 3:   Expertise:  demonstrates authoritative knowledge, holistic understanding.

4. When using the framework, those at the qualified and manager levels of responsibility should consider how they demonstrate level 1 against the skills and competencies identified as appropriate to the individual’s level of responsibility.

5. RIs should consider how they demonstrate level 3 against RI competencies.

6. Mark current competencies on the editable download of the framework and add examples. Use this grading to consider next development steps.

7. Repeat annually or when appropriate.

Resources to support auditors

ICAEW provides a huge range of resources to support audit practitioners to develop their professional competencies, from articles and podcasts on the latest developments, to elearning and in-person training courses.

Supporting audit quality

Elearning course, applying professional judgment in audit, online training, ethics cpd course.

Latest news and analysis

ICAEW Insights pulls together the best opinion, analysis and interviews on the key issues affecting accountancy and business. Resources include tax news, weekly charts and regular podcasts.

See the latest

A-Z of CPD courses

Whether you're looking for a two-hour update on tax, a two-day refresher on international reporting standards or a six-month programme supporting your transition to CFO, ICAEW has a CPD course to advance your and your team's career.

Find a course

ICAEW has brought together a range of resources on professional judgement to help audit practitioners develop their skills in approaching difficult judgements.

Digital tools are helping audit to evolve in a data-heavy, fast-moving corporate world. Find out how innovative analytical and artificial intelligence tools are transforming audit, enabling auditors to be more collaborative and provide greater insights in real time.

Support from the Audit & Assurance Faculty

ICAEW's Audit and Assurance Faculty is free to join and offers guidance and support on the latest developments in the sector, through technical news and its regular magazine, Audit & Beyond.

Read out this code to the operator.