What are the guiding principles governing the approach to CPA Ireland students and CPA Ireland training firms?

It is recognised that the proposed amalgamation will raise questions and potential concerns for CPA Ireland students and their training firms. The aim of this guidance document is to help minimise any disruption to CPA Ireland students who will be transitioning to Chartered Accountants Ireland, their training firms, and employers.

 What happens if a Strategic Level student does not complete their examination requirements within the required period following the amalgamation?

The expectation is that most, if not all, students will complete their Strategic Level examinations within the applicable period set out above. Should you not complete your examinations within this period, as is the case with existing CPA Ireland rules, you will be required to apply for a concessionary/additional siting. Upon receipt of such an application, your position will be assessed, and you will be advised of your options (including any equivalent Chartered Accountants Ireland examinations you would need to complete the examination requirements).

CPA Ireland students have a maximum number of years to complete and pass their examinations. This maximum period depends on the level of the first examination they are required to sit. What happens to these limits when I switch to the Chartered Accountants Ireland system?

The Chartered Accountants Ireland examination rules operate a broadly similar time frame within which students are required to pass their examinations. CPA Ireland allow for nine years to pass examinations, while Chartered Accountants Ireland allow for 8 years. Chartered Accountants Ireland students have a further restriction in relation to the number of years available to them to pass each of the three levels (e.g., students have 6 attempts over three consecutive academic cycles to pass the CAP 1 and CAP 2 exams).

Every effort will be made to ensure that CPA Ireland students are not disadvantaged during the 3-year transitional period. Any derogations to the rules regarding additional attempts will require an application to the Examination Committee of Chartered Accountants Ireland.

Newly registered Foundation or Professional Level students: What are the implications for me?

Newly registered Foundation or Professional Level students will be required to enrol on the equivalent ACA subjects within the ACA education programme. Chartered Accountants Ireland offers a full suite of online education programmes with a number of optional face-to- face events. All examinations are online also.

What are the educational and examination timetables for the Chartered Accountants Ireland programme?

There are three Academic Levels in the Chartered Accountants Ireland education programme: CAP1; CAP2 and FAE. The programme operates on a traditional academic calendar.

The CAP1 programme commences each September with the main examinations held at the end of May and resit examinations in September. There are e-assessments in Law and Double Entry with two windows opened for each of those assessments during the academic year. A revision programme for the resit examinations is provided subject to there being sufficient demand. A typical CAP1 programme timetable is available here. The CAP2 programme commences each October, with the main examinations held at the end of June and resit examinations held in late September/early October. There is an interim assessment for Financial Reporting which is held in January. A revision programme for the resit examinations is provided subject to there being sufficient demand. A typical CAP2 programme timetable is available here.

The FAE programme commences in October with the main examinations held in August. Resit examinations are held in the January following the main examinations. There is an interim assessment for Advanced Financial Reporting which is held in December. A revision programme for the resit examinations is provided subject to there being sufficient demand. A typical FAE programme timetable is available here.

What are the typical requirements for qualifying as a chartered accountant under the Chartered Accountants Ireland framework?

Like CPA Ireland, there are academic, examination and training requirements necessary to qualify as a chartered accountant. If you are a CPA Ireland Foundation or Professional Level student, you will need to either be exempted from (on the basis of prior external or CPA Ireland studies) or pass the remaining Chartered Accountants Ireland subjects to enable you to complete the education and related examinations. You will be advised of the applicable timeline limits to complete your studies and remaining exams.

The Chartered Accountants Ireland syllabus includes the following subjects:

CA Proficiency 1 (CAP1):

The CAP1 programme covers 5 subjects:

• Law for Accountants (Republic and UK/NI variant available) is completed by self-study and online exam.
• Finance
• Management Accounting
• Financial Accounting
• Taxation 1 (Republic and UK/NI variant available)

Typically, students entering at this Level will have completed a non-business/accounting degree or are an accounting technician or mature student. Most students complete this Level at one siting, though a modular (two subject option, over two years) is available. An overview of the CAP1 syllabus is available here.

CA Proficiency 2 (CAP2):

The CAP2 programme covers 4 subjects:

• Auditing and Assurance
• Strategic Finance and Management Accounting
• Financial Reporting
• Taxation 2 (Republic and UK/NI variant available).

Entrants onto this Level typically have completed and accounting/business degree or a relevant post graduate award. Most students complete this Level at one sitting, though a modular (two subject option over two years) is available. An overview of the CAP2 syllabus is available here.

Final Admitting Exam (FAE):

The FAE requires the passing of an integrated paper (FAE Core) and one of five electives (Advanced Audit and Assurance, Advanced Taxation (Republic and UK/NI variant available), Advisory, Financial Services, and Public Sector). Students are permited a maximum of three atempts over three academic cycles. An overview of the FAE syllabus is available here.

Students are required to complete the CAP1 and CAP2 programmes, or be exempted from them, before commencing the FAE programme. Should you have passed or be exempted from subjects at CPA Ireland’s Strategic Level and still also have subjects at the Foundation or Professional Levels to pass, you should contact the phoneline (details of which will be available on the websites of CPA Ireland and Chartered Accountants Ireland closer to the amalgamation) to clarify your options.

In addition to the education and examination requirements, there is an experience requirement dealt with below (see Question 20)

Since enrolling, my circumstances have changed and I now wish to defer my studies - can I do this?

You are under no obligation to continue your studies at this time. Subject to your consent, Chartered Accountants Ireland will hold your exemption status valid for a period of 5 years from the date of your last examination. The window for the fees’ accommodation outlined in Question 6 above will, however, run for a 3-year period from 1 September 2024 and will lapse at the end of August 2027.

What training and experience will I require to qualify as a chartered accountant under the Chartered Accountants Ireland framework?

Chartered Accountants Ireland operates two routes for students to gain the required competencies. These are:

• a ‘traditional’ training contract route; and
• an alternative flexible (non-contract) route.

The training contract typically ties you to a particular employer for the contract’s duration and the employer commits to sponsoring your studies and giving you the required experience and training to enable you to be admited as a chartered accountant under the remit of Chartered Accountants Ireland. Students are required to document their experience in an online CA Diary and to have this signed off (approved) by their training partner. As a CPA Ireland student, you will be familiar with CPA Ireland’s online process for the submission of training experience.

Under the flexible (non-contract) route, students are not tied to a particular employer but are required to gain the same quantum and range of experience. An employer is not required to sponsor this education, and study leave is a mater of negotiation between student and employer. The required work experience, however, needs to be gained by the student under the approval of an approved mentor (qualified accountant) and this needs to be documented in the same way as the CA Diary. Chartered Accountants Ireland approves mentors from all IFAC member bodies.

Applications to membership, post amalgamation, will need to be approved by a chartered accountant. Please see Question 27 below.

It is presently envisaged that CPA Ireland students will convert to being ‘flexible’ students under the Chartered Accountants Ireland framework. As with current Chartered Accountants Ireland students, they will have the option to switch to a ‘traditional’ training contract at any stage, subject to agreement with their employer.

What is the quantum of training experience required to qualify as a chartered accountant under the Chartered Accountants Ireland framework?

The quantity of recognised training experience required to qualify as a chartered accountant depends on your prior academic experience. Under the Chartered Accountants Ireland training framework, graduates are required to complete a 3.5-year training contract (or equivalent period under the ‘flexible’ route), accredited post-graduate entrants a three-year training contract/period, and school leavers (Accounting Technicians) to complete a four-year period.
For CPA Ireland students who register with Chartered Accountants Ireland, there will be a three- year experience requirement. The three years’ experience can be acquired before or after the amalgamation, or a combination of both.

I am training in a CPA Ireland firm and gaining audit experience and I hope to gain the audit qualification: What happens now?

[Any audit experience gained to date within your firm and accepted by CPA Ireland will count towards your ultimate Audit Qualification. You should, once you have registered with Chartered Accountants Ireland, contact the Training Support Unit of Chartered Accountants Ireland to be given appropriate advice on the requirements to complete your audit experience.

We do not envisage any issues with this transition as both CPA Ireland and Chartered Accountants Ireland requirements are broadly similar and are approved and monitored by the Irish regulator (IAASA).]

I registered with CPA Ireland on the basis that I would be eligible for the CPA Ireland designation, which designation will I obtain?

It is currently envisaged that all CPA Ireland members will be awarded the chartered accountant designation (ACA) and will also be able to use the CPA Ireland designation (CPA). However, it is recognised that the CPA Ireland designation is more common in some (mainly non-Commonwealth) countries than the chartered accountants designation. We anticipate permiting members to have access to both designations. Details confirming these arrangements will be communicated to you in due course.

CPA Ireland has a number of international reciprocity arrangements with other international accounting institutes. What happens to these arrangements?

Following the conclusion of the amalgamation, we will work with the international partners of both CPA Ireland and Chartered Accountants Ireland to determine the international arrangements which will be applicable, and which will continue in force. Every effort will be made to take best advantage of the arrangements that both institutes have, so as to maximise the international recognition of Chartered Accountants Ireland post-amalgamation.

As an employer, what steps, if any, will I need to undertake to support my current CPA Ireland trainees complete their qualification process?

A number of online briefing sessions will be organised to outline the arrangements and provide an opportunity for questions and any concerns to be addressed. We would encourage all employers to engage with this process. The Chartered Accountants Ireland Training Support Unit will be available to brief individual employers and to clarify any changes to requirements (which we anticipate will be limited).

As an employer, will it cost more for me to support my CPA Ireland trainees through their qualification process?

The different fee structures can make comparison of costs difficult. However, over the full training period, the costs of education and training and examinations are, and will continue to be, broadly similar.

There are no chartered accountants in my place of employment, who can sign off on my application(s) to membership of the amalgamated body?

In circumstances such as this, you should contact the Chartered Accountants Ireland Training Support Unit to clarify this situation. An alternative system can be availed of in cases such as this, for example, an interview with the aspiring candidate.