Overview: FAE

The objective of the Final Admitting Examination (FAE) is to assess candidates’ total competency.  With the cumulative principle, the FAE education programme is designed to integrate the knowledge, skills and values derived from earlier studies and the work environment.


Subjects

FAE is broken down into two elements known as FAE Core and FAE Elective. With the cumulative principle, what you learned at CAP1 and CAP2 will be expanded in FAE.

The following course completion criteria are applicable for the 2019/2020 academic year:
“All the seven integrated case study workshops within FAE Core education programme are deemed mandatory lectures with full attendance expected. The specific workshops are: Boyne, Claddagh, Finn, Lagan, Lee, Liffey and Shannon”.

Students who are absent from more than two of the above workshops will be deemed to have not successfully completed the FAE Programme and consequently become ineligible to sit the FAE examination in the 2019/2020 academic cycle.

FAE is broken down into two elements known as FAE Core and FAE Elective.

FAE syllabus (subjects)
FAE Core (compulsory) FAE Elective (choose 1 from below)
FAE core comprehensive Advanced Auditing and Assurance
FAE core simulations Advanced Taxation (ROI/NI)
Advisory
  Financial Services *NEW
   Public Sector *NEW 
FAE syllabus (subjects)FAE Elective (choose 1 from below)
 Advanced Auditing and Assurance    

This elective is designed for students who expect to follow a career in auditing. It provides an opportunity for students to obtain the necessary skills to manage audit assignments in conjunction with the Audit Engagement Partner. 

It should be noted that the Audit Elective is a pre-requisite for gaining an auditing certificate for all students qualifying under the FAE programme. For auditing certificate purposes, the elective may be completed as part of the FAE OR post-qualification (in the event that a student chooses an alternative elective for the FAE examination).

Advanced Taxation (ROI/NI)    

This elective is designed for students who would like to strengthen their taxation skills; it gives a deeper understanding of the framework in which taxation operates and focuses on VAT and Capital Taxes in particular.

It should be noted that candidates that successfully pass the Advanced Taxation elective at FAE will be eligible for an exemption from the first stage of Chartered Tax Consultant programme. Candidates can progress directly to the final stage of the CTC programme and achieve the professional tax qualification in six months.

 Advisory    
This elective is designed for students working, or seeking to work, in industry or advisory departments of practice firms. The elective will cover the strategic models that are used to assist organisations/clients in strategic decision making and the implementation and evaluation of business strategies.

 Public Sector   
 This elective is designed for students working, or seeking to work, in the public sector. The focus of this elective is the strategic financial management issues facing those working in, managing and leading finance functions in the public services.
 Financial Services   
This elective is designed for students who are working, or are seeking to work, in the banking or investment funds industries. The focus of this elective is the strategic financial management issues facing those working in, managing and leading finance functions in the Banking and Investment Fund Services industries.

Institute of Banking membership for the Financial Services Elective

As part of our partnership with the Institute of Banking, students on our Financial Services Elective are automatically enrolled as a member of the Institute of Banking for one year from 1 January to 31 December. This fee is paid by Chartered Accountants Ireland for the first year.

Students who would like to continue their membership with the Institute of Banking must pay their membership directly thereafter, which is an annual fee of €40. The Institute of Banking will have been in touch with all students when registration was processed and will be in touch again when membership is due. Any queries on this, please email membership@iob.ie or call 01 6116500 and ask to speak with the membership team. Membership of the Institute of Banking is optional and has no impact on the Chartered Accountants Ireland qualification or designation.

When students complete the Financial Services Elective, they are also eligible to become an “Accredited Funds Professional” with the Institute of Banking. This is designed to provide lifelong learning to the international investment funds sector. This designation is awarded by the Institute of Banking for a fee – further details available at https://iob.ie/programme/accredited-funds-professional.


Delivery

FAE runs in Belfast, Cork, Limerick, Waterford/Kilkenny and Dublin centres.  There are also distance programmes in Belfast, Galway and Dublin.  Timetables can be viewed on the student portal.

Within FAE Core, the traditional education programme gives students a blend of single and multidisciplinary case based teaching. This will continue with the distance programme; however there will be a greater focus on integrated casework in contact sessions. Single discipline and technical content will primarily be delivered online.

Distance learning is a good way for students to organise their studies around their work, social or family commitments in a structured, supported environment. Chartered Accountants Ireland is committed to ensuring students achieve success by providing comprehensive materials, online resources, and ensuring that individual support is available. Students who have proven themselves to be self-motivated, disciplined and committed enough to take responsibility for their own learning will benefit most from this course.

Integrated case study workshops provide an environment for students to hone their skills of analysis and application which are critical to success in the FAE examination.


Exams

The FAE examination is very different to exams previously sat. The case studies give no specific requirements, there are no specific mark allocations and subjects are not examined in the single discipline. FAE assumes your knowledge and tests your understanding and application of that knowledge in a real business-type scenario. FAE expects students to think like a professional, in an integrated manner, and give the professional analysis and advice expected of a chartered accountant.

The FAE exam contains two elements:

FAE Core: Comprises of FAE core comprehensive and FAE simulations

FAE Elective: One of the electives detailed below must be completed.

  • Advanced Auditing and Assurance
  • Advanced Taxation (ROI/NI)
  • Advisory previously know as Advanced Performance Management (APM)
  • Financial Services 
  • Public Sector 

Completion of the Advanced Auditing and Assurance elective is a pre-requisite for gaining an audit qualification. Electives are also available for completion post-FAE, as CPD.


FAE

 
Dates  What's happening
18 Aug (Core) & 20 Aug (Elective) 2020 

FAE Main exams

 25 Sept 2020

FAE Main exam results publication

 07 & 08 Jan 2021

FAE 2nd sitting exam

 5 Feb 2021

FAE 2nd Sitting exam results publication

 24 Apr 2021

AAFRP Assessment

 28 May 2021

AAFRP Results publication

 29 June (Core) & 01 Jul (Elective) 2021

FAE Mock exams

 17 Aug (Core) & 19 Aug (Elective) 2021

FAE Main exam

 24 Sept 2021

FAE Main exam results publication



FAE Book List 20/21

Student textbooks process 2020

There will be no book collections this year.  All textbook orders will be delivered to the default home address for each student. Students will have the option to change the delivery address to an alternative/more suitable address if they wish.  Please check with your firm before allocating a firm delivery as most firms are not in a position to take deliveries of student textbooks. Textbook deliveries to a firm address will only be permitted in exceptional circumstance and prior permission may be required.

Book distribution will commence in October and deliveries will be made by DPD.

Further details will be issued once a student’s enrolment has been processed.

Book queries should be sent to textbookqueries@charteredaccountants.ie

Booklist: FAE

FAE

FAE Core

Cases & Solutions in IFRS 5ed

978-1-912350-01-8

Cotter

FAE

FAE Core

Cases & Solutions in IFRS 5ed

978-1-912350-01-8

Cotter

FAE

FAE Core

Corporate Strategy for Irish Companies 3rd

978-1-9012350-32-2

Gallagher

FAE

FAE Core

Strategic Management and Leadership Toolkit (2020)

978-1-912350-87-2

CAI

FAE

FAE Core

Cases in Corporate Governance and Business Ethics

978-1-912350-14-8

Kirwan, McBride & O'Riordan

FAE

FAE Core

AAFRP Toolkit 2020-2021 NEW

202101

CAI

FAE

FAE Core

Information Management Principles (2019)

202102

FAE

FAE Core

Problem Solving and the FAE 4ed NEW

978-1-912350-33-9

Cotter

FAE

Student Technical Handbook 2020-2021 NEW

978-1-912350-43-8

CAI

FAE

FAE Advanced Taxation (ROI)

FAE Taxation 3 (ROI) 2020-2021 NEW

978-1-912350-39-1

CAI

FAE

FAE Advanced Taxation (NI)

FAE Taxation 3 (NI) 2020-2021 NEW

978-1-912350-42-1

Available Jan 2021

FAE

FAE Advisory Elective

Advanced Performance Management

978-1-908199-99-7

McGettinggan

FAE

FAE Financial Services Elective

Financial Services Elective Handbook

202105

Available Jan 2021

FAE

FAE Public Sector Elective

Public Sector (CIPFA) - ROI

202103

Available Jan 2021

FAE

FAE Public Sector Elective

Public Sector (CIPFA) - NI

202104

 

FAE

Audit

Ethical and Auditing Standards 2020 (FRC) (NI ONLY)

978-1-912350-45-2

 

FAE

Audit

Ethical and Auditing Standards Ireland 2020 (IAASA) (ROI)

978-1-912350-44-5

 

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