New FAE Electives – Update: One Year On

Oct 18, 2019

One year ago, Chartered Accountants Ireland launched three additional new FAE electives aimed towards candidates working in three distinct market segments; Advisory, Financial Services and Public Sector Electives. This morning the candidates that enrolled on these new electives received their FAE results and it’s a great opportunity to reflect on how these have gone…

Advisory Elective

This new elective replaced the Advanced Performance Management (APM) elective. In doing so the syllabus content and learning materials were significantly updated last year. However, despite these significant changes, the Institute is pleased that the 79% pass rate published this morning for the Advisory elective is broadly in line with prior year’s results for APM.

Financial Services Elective

Last year in collaboration with the Institute of Banking, Chartered Accountants Ireland launched a new Financial Services elective. This elective was aimed at candidates working in or advising the Financial Services sector. This elective achieved a very strong 92% pass rate. There were several key drivers behind this excellent result which are worth noting:

  • Numbers sitting the exam was small with only 39 candidates taking the new elective examination in its first year;
  • These early adaptors had a strong interest in the syllabus/course content and had significant sectoral experience;
  • Engagement levels were very strong throughout the year when compared to other electives;
  • Very positive feedback from candidates throughout the year relating to the learning materials and lecturers;
  • Examination was as challenging as any of the other elective’s examinations;
  • The quality of the scripts was very good with candidates scoring strong average marks.

Public Sector Elective

Chartered Accountants Ireland launched a new Public Sector elective last year also. This was achieved through collaboration with CIPFA. This elective was aimed at candidates working in or advising the Public Sector. This elective achieved an outstanding 100% pass rate. There were several key drivers behind this excellent result which are worth noting:

  • Numbers sitting the exam was extremely small with only 13 candidates taking the new elective examination in its first year;
  • Some candidates were already existing members returning to the education programme to take this elective. These members had extensive and significant senior post-qualification experience in the public sector;
  • Engagement levels were very strong throughout the year when compared to other electives;
  • Feedback from candidates throughout the year relating to the learning materials and lecturers was very positive overall;
  • Examination was as challenging as any of the other elective’s examinations;
  • The quality of the scripts was also very good with candidates scoring strong average marks.

The Institute welcomes these positive results published today and congratulates all FAE candidates and their firms.