The development of the Chartered Tax Consultant qualification has made significant strides over the last number of months. The following is a brief update of our progress to date.
A focus group was established with participants from the top ICAI member firms and tax advisors in Ireland. The focus group identified the core business, functional and professional competencies which form the bedrock of the qualification and firmly commit us to designing a skill focused and practical professional tax qualification.
The timing of the qualification has also been carefully considered by the Focus Group. Students undertaking FAE in 2010 can take the Tax Elective paper under the new syllabus which will count as Stage One to the Chartered Tax Consultant qualification.
Our current members can also study for Chartered Tax by sitting a tailor made Stage 1 programme in 2010. Its is not envisaged that Stage 1 for current members will be particularly time intensive as the objective is to provide a refresher on tax in advance of Stage 2 and 3.
Stage 2 and 3 of the Chartered Tax Consultant qualification programme will take place in 2011. Stage 2 consists of approximately 8 modules which will teach the key skill set such as understanding and interpreting the legislation under each of the tax heads, report writing, communication skills etc.
Stage 3 is an integration of the functional skills taught at Stage 2 with practical topics and themes identified by the Focus Group. The themes identified will guarantee that a real life approach is adhered to using case studies drawing on all tax heads, legal issues, financing issues and accountancy issues. Stage 3 will consist of approximately 12 modules.
The Chartered Tax Consultant qualification will be examined through continuous assessment, home assignments and open book exams in case study format.
We will have details on the class times and fee structure in the first quarter of 2009. In the meantime, if you have any queries please contact Norah Collender, ICAI Tax Technical Manager at norah.collender@icai.ie