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Exam info: FAE (Final Admitting Examination)


Examination rules

 

Exam Rules - E-assessment Students 2022
CLICK HERE TO ACCESS THE INSTITUTE'S EXAMINATION AND APPEALS REGULATIONS



John O’Callaghan, chairman of the FAE Committee discusses the 2018 FAE results and offers valuable advice for prospective candidates.

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Competency Statement at FAE for Academic year 2021/22

FAE Competency Statement 2021 22
Summary of changes to the FAE Competency Statement 2021-22
FAE Marking and Adjudication Parameters - 2021 2022

Exam enrolment for FAE

Students on an educational program for FAE will automatically be enrolled for their first sitting of their FAE exams.  Students sitting for their first attempt at FAE must sit in the main summer sitting.

Students needing to repeat an exam at FAE will need to enrol on the exam through our website.

Students need to be aware that late exam enrolments are not permitted once the closing date for exam entry has passed.

Assessment at FAE for Academic year 2021/22

This examination completes the qualification process and marks the start of a career as a Chartered Accountant; a career of life-long learning. The final examination elements are:

FAE Core: the core syllabus is examined on day one and comprises of a single case study. Candidates will be expected to integrate knowledge, experience and skills across all technical areas when answering these cases. In addition, candidates will be expected to complete an interim assessment assignment in the area of Advanced Application of Financial Reporting Principles.

FAE Elective: five electives are currently on offer: one each in the areas of Advanced Auditing & Assurance, Advanced Taxation (ROI/NI), Advisory), Financial Services and Public Sector.

Students should also note that completion of the Advanced Auditing & Assurance elective will be a pre-requisite for obtaining an audit certificate.

Students of the Advanced Taxation elective may wish to pursue their studies in tax beyond FAE and may be interested in our professional tax qualification Chartered Tax Consultant (CTC) which can be completed in just six months with this elective. Students who successfully complete the Advanced Taxation elective will be eligible to avail of an exemption to join CTC at the final stage of the programme.

Assessment at FAE for Academic year 2021/22

Paper

Subject

Interim assessment

 

Examination

Weight

Description

Weight

Description

 

Paper 1

CORE

 15%

AFR (Advanced Financial Reporting)
90 minutes (open book)

 

min 7 – max 9 questions

four hour + 30 minutes inclusive of reading time 
(open book)

Paper 2

ELECTIVE: Advanced Audit & Assurance

 

 

  Not examinable

min 7 – max 9 questions

four hour + 30 minutes inclusive of reading time 
(open book)

ELECTIVE: Advisory

  Not examinable

min 7 – max 9 questions

four hour + 30 minutes inclusive of reading time 
(open book)

ELECTIVE: Advanced Tax ROI & NI

 

 

Not examinable

min 7 – max 9 questions

four hour + 30 minutes inclusive of reading time 
(open book)

ELECTIVE: Financial Services

 

 

  Not examinable

min 7 – max 9 questions

four hour + 30 minutes inclusive of reading time 
(open book)

ELECTIVE: Public Sector

 

 

  Not examinable

min 7 – max 9 questions

four hour + 30 minutes inclusive of reading time 
(open book)

  • Duration of all papers is four and a half hours.
  • Candidates are required to choose one of five Elective papers on offer.
  • In the Elective paper, Taxation, candidates may choose to sit either the Northern Ireland (NI) or the Republic of Ireland (ROI) version of the paper.

Exam results

The results for the FAE exams and AFR interim assessment will be published on the Exam Results page in the Student Centre area.

See Exam Results (Login required)

Recommended education/study leave

The Institute recommends that training firms provide time off to their students to present for examination.  The recommended education/study leave is intended to accommodate attendance on education courses, e.g. block release, and private study.

The following recommendations are made in relation to education/study leave for those preparing as first attempt candidates for the FAE exams:

Paper Recommended study leave Exam leave
Papers 1 and 2 35 working days in total one day (on day of exam) per subject
Any repeat/resit exam N/A one day (on day of exam) per subject
Excludes Interim Assessment resits

NOTE: Recommended education/study leave is exclusive of time required to sit the examination.  Additional time off for sitting examinations is also recommended.

Please ensure you update your email address via the Profile page if you are going on study leave.  There will be several important notifications being circulated in relation to the exams shortly before the exams and it is in your best interest to have this information as soon as it is circulated.

See Profile page (Login required)

Number of attempts

Students may make a maximum of three attempts over three consecutive academic cycles.  It is mandatory for students to make the main exam sitting their first attempt.  Students may sit their remaining examinations over the main and/or resit sittings.

Should a student not present for either the main or resit sitting in an academic cycle, they are deemed to have forfeited one attempt.

Adjudication of results

  1. Candidates are required to pass each subject independently.
  2. In order to pass each subject, the candidate must achieve a minimum of 50% or better (based on amalgamation of any applicable Interim Assessment (AFR) component and the examination paper)
  3. Independent passes in each subject are referred to as credits. Where a candidate obtains a credit in every subject in the combination of subjects sat, his result will be adjudicated as Pass.

Have a query?

If you have a query, please refer to our Support & Services page and contact the relevant department with your query.

See Support & Services

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