Careers

The inside track on the new FAE electives

Aug 30, 2018
Chartered Accountants Ireland has partnered with the Institute of Banking and CIPFA to deliver two new FAE electives, while fully redesigning the old APM Elective, which will know be known as the Advisory Elective.

BY JOHN MUNNELLY

Chartered Accountants Ireland recently announced the launch of new electives for the FAE syllabus. This historic move is an acknowledgement of the increasing and diverse career paths that Chartered Accountants can enjoy. In this article, we provide an overview of the electives now available to all FAE students.

Public Sector Elective

The Public Sector Elective is offered in conjunction with CIPFA, the only professional accountancy body in the world exclusively dedicated to public finance.

The Chartered Institute of Public Finance and Accountancy (CIPFA) is the professional body for those working in the area of public finance. Its 14,000 members work throughout the public services, in national audit agencies, in major accountancy firms, and in other bodies where public money needs to be effectively and efficiently managed. Globally, CIPFA leads the way in public finance by standing up for sound public financial management and good governance. CIPFA works with donors, partner governments, accountancy bodies and the public sector around the world to advance public finance and support better public services.

The Public Sector Elective offers prospective candidates the opportunity to gain access to knowledge and an accelerated learning curve, and is an excellent foundation for any candidate working in or considering a career in public sector finance.

Financial Services Elective

The Financial Services Elective is offered in conjunction with the Institute of Banking (IOB), which is one of the largest professional institutes in Ireland.

IOB members work in banking and financial services. Their Institute, meanwhile, provides banking education programmes and related services that enable members to achieve and sustain their professional qualifications and continuing professional development – essential to meet customer and regulatory expectations.

The Financial Services Elective is split to cover both ‘banking’ and ‘financial services’ modules. This elective offers an accelerated learning curve for candidates working in, or considering a career in, financial services.

Advisory Elective

‘Advisory’ was previously known as the APM elective. This elective has been re-designed to meet the needs of the 21st century accountant, and benefits from a new focus on the leadership and strategic business models that are used to drive business success. Recognising changes in technology, there is also an emphasis on analytics as well as emerging technologies. Candidates considering a career in industry should consider this elective.

Further information on each of the three new electives can be found in the 2018/2019 FAE Competency Statement.