What Does Training Involve?

The Training Contract

Chartered Accountancy provides the most dynamic and comprehensive programme of theoretical and practical training available. This is what differentiates the ACA qualification from any other. Every successful CA will have gained work experience under a training contract with the same firm, for a fixed period of time and in exchange the training firm will grant study leave and cover exam and course fees.

The period under training provides the structured environment where trainees, under the supervision of a member of Chartered Accountants Ireland, develop the professional values, technical/functional competencies and the personal and interpersonal attributes that define the role of the CA. Training organisations see those students training with them as a valuable resource and attach great importance to their development.

An example of the success of the ACA training is pass rates of 80% at Final Admitting Examination - A pass rate much higher than that of other accountancy bodies.

Regardless of where you train, every successful CA must:

• Gain work-experience under a training contract with a Recognised Training Organisation
• Pass professional examinations (CA Proficiency 1, CA Proficiency 2 and the Final Admitting Exam)
• Demonstrate competence in Information Technology

A training contract may be pursued in three ways:

• Training in Practice
• Training in Business
• Pre-Contract Registration

Training in Practice

Most students currently pursue this route. Whether in a small or large accountancy practice, a trainee is exposed to the same broad areas such as:

• Financial Accounting & reporting
• Business Finance
• Taxation & tax planning
• Auditing, Internal Control & Corporate Governance
• Information systems and Management

The training firm, in general, pays study and tuition fees. While the Institute does not make proposals relating to starting payments, it does make recommendations as to the minimum annual increments for examination success. The Government also sets minimum rates of remuneration. Guidance relating to increment payments is published in the annual 'Training Package' publication.

Training in Business

Many students find training in business an advantageous route, as ultimately 65% of CAs pursue a career in this field. Although this training is different to that gained in practice, it is particularly beneficial to students planning to make their careers in industry and commerce.

All the essential areas of study (as listed under training in practice) are also covered under this route. Participating firms rarely offer pure auditing or taxation experience, although students may have the opportunity to be seconded to a practice. Moreover, many firms have internal audit and tax departments and students are often introduced to specialised areas, such as Treasury and Management Accounting.

Payment and conditions for students training in business reflects the norms in the firms concerned. In many cases, these have been adapted specifically to meet the requirements of Chartered Accountants Ireland's Business Training Route and involve study leave and support above the level generally applicable to employees undertaking external study.

Pre-Contract Registration

In order to accommodate student requirements, Chartered Accountants Ireland has a "Pre-Contract" training facility. This allows entrants to choose when to begin their training contract. It is now possible to study CA Proficiency 1 and CA Proficiency 2 examinations outside of a training contract. However, at any stage during this time, a student may begin a training contract, either with a recognised accountancy practice, business, or public sector organisation. A training contract must be entered into before enrolling for the Final Admitting Exam.

Relevant prior work experience that is recognised by Chartered Accountants Ireland may lead to a reduction in the length of the training contract.

Fees - New Students commencing 2010

Pre-contract Registration Fees are the same as the above.