Chartered Accountants Ireland Longest established since 1888 Biggest
Chartered Accountants Ireland • Longest established (since 1888) • Biggest in Ireland – 24, 000 members • Largest educator – over 6, 000 students • ‘Chartered’ – internationally recognised professional designation • Leading voice of the accountancy profession in Ireland
Education Overview 3, 000 students on education programmes 87 Lecturers 1400 lectures annually 9 course options
Recognition Membership Support Training Education What Makes Us Different?
What do Chartered Accountants do? Student responses Does book-keeping 57% Works in an Accountancy firm 86% Analyses numbers 71% Advises on tax/ Audits accounts 43%
What do Chartered Accountants do? Interprets financial data 27% Works within companies to manage financial matters 14% Works in accountancy firms to advise businesses 14% Manages companies 0%
What do Chartered Accountants do? Manage businesses, Report Advise solve problems for decision-making businesses and individuals Should O 2 launch their “ 48” network? Where should Facebook locate? How can EMI make money with music downloads?
Practice Business 35% 65%
A Secure Job 98% employment Area where there is a skills shortage Starting salary 58, 000
• So, what do we add to the book-keeping? Ø Strategic thinking Ø Analytical skills
Required Competencies Financial Reporting Ethics & Professionalism Strategic Thinking & Problem Solving Management Accounting & Objectivity Communication Perceptiveness of own knowledge, values and limitations Managing Self & Others: Leadership Finance Audit & Assurance Tax & Law Strategy IT Awareness Project Management & Change Awareness Stakeholder Management
FAE Core Finance Management Accounting Professional Education Programme Auditing & Assurance Taxation II Law for Accountants Taxation I WORK EXPERIENCE & IT SKILLS Financial Accounting Strategic Finance & Management Accounting ADVISORY SERVICES Financial Reporting MANAGEMENTACCOUNTING & FINANCE FINAL ADMITTING EXAMINATION FINANCIAL REPORTING CAP 1 & CAP 2 FAE Elective Online CA Diary Training Experience
FAE Core (end point!) The purpose of this course is to develop students’ ability to assess the internal and external environments and strategic processes affecting organizations (both public and private) and to enable them to ethically play their part in supporting the client/management team in their current and future roles – whether as a member of the management team or as an external advisor
How do we get them there? • A mix of education and training ØLectures ØWorkshops/Case days ØAssessments ØTraining element ØCA Diary
Education • Lectures • Workshops • Case days
Training • Work experience requirement • CA diary
Assessment • • Terminal examinations Continuous assessments Increasing use of case studies Full case study exams at FAE
What is ethics? Factors to consider in determining ‘right’ or ‘wrong’ include: • • • Consequences of the action Motivation for the action Inherent ‘rightness’ of the action
Ethics • • What do we teach them? How do we teach it?
Leaving Certificate • Suitable? students
Required Competencies Financial Reporting Ethics & Professionalism Strategic Thinking & Problem Solving Management Accounting & Objectivity Communication Perceptiveness of own knowledge, values and limitations Managing Self & Others: Leadership Finance Audit & Assurance Tax & Law Strategy IT Awareness Project Management & Change Awareness Stakeholder Management
Entry Options Option 1 School Leaver Option 2 Accounting Technicians Option 3 Third Level Student studies for one year with Accounting Technicians Ireland Student completes the Accounting Technician qualification Complete a 3 rd level Degree Must gain a Merit Pass in 1 st year exams and 360 points in the Leaving Cert. Can progress to the Chartered Programme with exemptions, once the criteria has been met Optional Accountancy Master after some degrees Can then progress to CAP 1 Study with Chartered Accountants Ireland receive exemptions based on degree
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