The ICAEW advantage
As you go up through an organisation, into management level positions, you are expected to assimilate information and make decisions at a very fast speed. You will have analyse what the exact problem is and possible solutions. You then need to communicate this to a wide range of people, from the top management in your organisation, to people who will implement the strategy you have come up with. You need to explain
- Why there is a problem
- What caused it?
- How do we fix it?
- If we do not fix it, what will happen?
- How do we stop it happening again?
'I am proud to lead the ICAEW, a professional accountancy body with a rich history. Our members, living and working in more than 160 countries, are highly respected around the world. I see the Exclusive Scholarship Programme, supported by some of India's finest multi-national companies, as an exciting opportunity for high calibre ICAI graduates to further develop their communication and professional skills”.'
Therefore, these are the questions that you, as a Chartered Accountant should be answering to help your clients/management succeed. We are financial doctors and the better we can explain to a business how to get better and how to stop it happening again, the more healthy our clients will be. But if the Doctor talks to you about the benefits of anti-coagulation when inducing hypothermia in neurological trauma situations, you are unlikely to understand what they are saying. A good doctor would say that after a serious head accident, it may be better to lower a patient's body temperature in order to help blood thicken and reduce the risk of the injury to brain tissue. So, not only is it our job to advise the patient and their family, but to do so in a way that they can understand.
Global challenges for Chartered Accountants
The final level of ICAEW is geared towards doing just that. It is not about knowledge – it is about being able to APPLY your knowledge and COMMUNICATE it effectively.
Today’s Chartered Accountants are expected to be multi-faceted business strategists. Business needs are changing constantly and as a result corporate strategies are changing constantly. Chartered Accountants are the backbone of financial strategy in companies. They are expected to sort through data, taking unstructured information and come up with recommendations for solving business problems. They have to be able to communicate at all levels with all types of people.
Research undertaken in India has highlighted that generally those in mid-level finance positions are absolutely outstanding with their technical knowledge and work – however, leaders have recognised that there is a visible gap in:
- Integrating different aspects of technical knowledge (tax, strategy, accounting etc.)
- Professional skills,
- applying structured thinking
- Communication skills.
These are the skills that are needed in a global workplace. If these skills are developed, professionals have all the skills to succeed globally.
- Gain the globally recognised ACA qualification
- Show understanding and application of planning and giving advice.
- Increase your earning potential with a respected qualification
- In 2012, the average basic salary of an ACA was £92.1k
- Diverse and rewarding careers options
- Benefit from the most advanced study materials available
- Direct tutor contact outside of the classroom – by phone and online
How ICAEW enhances your skills as an ICAI
ICAEW understands these challenges and has come up with a robust qualification which is aimed at solving problems and communicating the solutions effectively. The ICAEW syllabus is known for the vertical and horizontal integration that it provides across all areas like Accounting, Audit, tax, business management, financial performance and professional skills. For ICAI members considered future leaders, the added skill set that taking the final level of ICAEW will bring to you, will accelerate your career. In addition, with the need to liaise with CFO’s, CEO’s and people from across the world – this would put you on a similar platform as your contemporaries world over.
Tangible benefits from completing the final level of ICAEW
Other Benefits of becoming an ICAEW member
Individuals chosen for the programme will learn key integrated skills which help them solve business challenges and most importantly, communicate it effectively to a wide range of different decision makers. You will learn to build the highest level of finance and business skills and are encouraged to use the highest ethical standards. Together, these will allow you to make decisions - to think and act with clarity and rigour, and so inspire business confidence.
- Trains you to think on their feet and make recommendations.
- Provides relevant and correct technical advice considering business implications.
- Increases communication skills when dealing with foreigners/foreign companies.
- Forces understanding & interpreting global issues.
- Prepares you to deal in a structured way with clients.
- Integrates knowledge of financial reporting, tax and strategic decision making.
- Will help you to communicate confidently and competently with management, clients and other business partners.
- Greater international mobility – ICAEW is recognised prominently around the globe
- Top quality continuing professional development
- Expertise - through faculties and special interest groups – ICAEW leads academic and professional thinking in accountancy
- Leading publications, top quality advisory services and technical help-lines, and an exceptional library
- ICAEW worldwide networks offer unparalleled opportunities for professional networking and career and business development no matter where you are in the world