The revamped exams will feature 14 integrated modules, down from the current 15. Credit: mayam_studio/Shutterstock.

The Institute of Chartered Accountants in England and Wales (ICAEW) has announced an overhaul of its Associate Chartered Accountant (ACA) qualification, representing the biggest change in three decades.  

The next-generation ACA, set to take effect from September 2025, is designed to align technical study more closely with professional work experience. 

The next generation ACA, which has been developed with employers, students, members and ICAEW’s partners in learning, will have three components: business, finance, and accountancy modules; professional work experience; and a new specialised learning and development programme.  

The revised programme will focus on enhancing students’ competence in ethics, technology, and sustainability, integrating these elements with professional work experience to better prepare them for the evolving workplace and profession. 

ICAEW chief executive Alan Vallance said: “For nearly 150 years, gaining ICAEW membership has launched global careers in business, finance and accountancy, and we must ensure that it remains best in class for the next generation.  

“These exciting changes are the culmination of the most extensive and collaborative consultation process in our history, and we can’t wait for these developments to come into place next September.” 

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The revamped exams will feature 14 integrated modules, down from the existing 15, and include two additional case study papers to facilitate the transition between professional and advanced levels.  

Students need to complete 30 units from a range of online learning modules under their specialised learning and development, aimed at early career upskilling and specialisation. 

ICAEW has confirmed that all existing students will have the option to complete the ACA via the existing or updated qualification without the need to sit extra exams.  

The institute is collaborating with education providers and employers to support students throughout the transition.  

In addition, the ACA will continue to be the only professional finance qualification that incorporates real workplace data analytics software into its exams. 

Earlier in October 2024, ICAEW voiced concerns regarding the UK government’s new legislation targeting late payments to small businesses and the self-employed.  

The legislation mandates large companies to report on supplier payment performance within their annual reports, a requirement that ICAEW considers to be ineffective.