GLOBAL ACCOUNTANT

New Degree Level Apprenticeships in Management Accounting

By: GLOBAL ACCOUNTANT
Published May 7, 2013, in Training

CIMA, BPP Professional Apprenticeships and PwC are working with some of the world’s largest global companies to develop England and Wales’ first ever degree-level apprenticeship in management accounting.

The move opens doors to employers across the UK to take advantage of government funding and student interest in different routes to higher education and employment.

It is anticipated that the first roles aimed at school leavers completing their A-levels could be available as early as September 2013, with Siemens being one of the first employers to adopt the programme.

The qualification route, designed with education providers, industry associations and leading employers, means apprentices will access a top quality career in management accounting that typically has only been available to university graduates. They will study for the globally recognised CIMA Certificate in Business Accounting qualification, alongside wider business training and experience such as team working, project management and leadership skills.

Skills Minister Matthew Hancock said:

This new degree-level apprenticeship will be fantastic for young people who want to pursue a career in management accounting but feel university isn’t for them. It will also provide a more diverse workforce for businesses that offer it.

It is our ambition to make it the norm for school leavers to either go to university or to do an apprenticeship. Higher Apprenticeships like this are crucial to making that a reality.

James Hammill, Director, BPP Professional Apprenticeships.

This reflects the growing view that employability is increasingly of greater importance than academic qualifications

These apprenticeships are employer-led, giving young people skilled jobs which will give them the opportunity to ultimately progress to full chartered accountant status.

David Rowsby, CIMA’s Regional Director for Europe:

CIMA is delighted to offer talented people in England and Wales a new and supported route into management accounting.

It’s a great opportunity to gain real practical experience whilst studying towards a professional qualification, laying solid foundations for a finance or commercial role in the future.

David Way, Executive Director, National Apprenticeship Service said:

This collaborative partnership is another example of how apprenticeships are growing in quality and ambition. They increasingly reflect the exciting and diverse world of work and the range and level of occupations available.

Research and experience shows clearly that apprenticeships deliver real business benefits for employers. When launched, this Higher Apprenticeship will also enable firms in the professional services industry to diversify their traditional workforce and to attract and invest in talented young people.

Sara Caplan, Partner, PwC, who has led the development of the frameworks used to create the Higher Apprenticeship across Professional Services said

This framework offers a completely fresh way of thinking about qualifications, skills and employment in the professional services industry, and one that’s open to all employers and students irrespective of their size, location or background. For employers, in particular, with such a range of government funding, training support and industry involvement, this is the right time to be acting on apprenticeships. It’s a huge opportunity for everyone involved to transform the pipeline of skills supporting British business and recovery.

The new framework, designed specifically to meet the needs of the professional services skills development and employment, will also reassure employers who have said in the past that the biggest barriers to hiring an apprentice was that apprenticeships are not sufficiently tailored to their needs, or relevant to their sector, [CIPD research Sept 2012] and is aligned with the recent recommendations of the Richard review; http://t.co/TPlsxiC5mb.

Professional Membership Bodies at Birkbeck

By: GLOBAL ACCOUNTANT
Published March 25, 2013, in Events, Training

Global accounting membership bodies came together to attend the first in a series of presentation events held at London’s evening university, Birkbeck University of London.

The successful event which took place in the renowned Brunei Suite provided students the opportunity to explore their professional chartered route options available to them upon graduation.

During the evening ICAEW, IFA, ACCA, CIMA, CPA Australia were overwhelmed with student interaction and answered challenging questions during and after their presentations.

Jennifer Korsak of ICAEW delivered a keynote presentation, explained the benefits of joining the ICAEW and said:

“To maintain training quality ICAEW trainees will need to work with ICAEW approved employers. However, if students found employment with a non-approved employer, the process of approval is smooth and fast and all details could be found on the ICAEW website”

Birkbeck ACCA Global Accountant CPA

The membership bodies emphasised the global benefits available to prospective professional students and career pathways available to them during training and upon qualifying.

During the event Dr Julian Sims of Birkbeck University emphasised the importance of professional education and development.

Dr. Sims said:

“We live in economic uncertain times, where graduates are faced with immense competition in the employment market. Opting to embark on what is a tough yet rewarding journey of chartered accountancy is an option to overcome the limitations todays UK graduates are experiencing”

Birkbeck University of London is predominantly an evening university providing education to students who work during office hours. And this gives our students a distinct advantage to continue building their careers while having the opportunity to study.

The Professional Membership Bodies Event aimed at demonstrating the options available to students and to provide intuitive understanding in respect of what the subject bodies had to offer its trainees and members.

At the event 7City, the international Business School with a presence in London, New York, Dubai and Singapore presented an option for those who were interested in the CFA (Chartered Financial Analyst) qualification.

CIPFA and UNDP New Qualification

By: GLOBAL ACCOUNTANT
Published March 19, 2013, in Latest News, Training

Courses to train over 150 United Nations Development Programme (UNDP) staff from nearly 50 countries in an international qualification from the Chartered Institute of Public Finance and Accountancy (CIPFA), helping one of the UN’s largest agencies to cultivate development spending around the world.

This accountancy qualification is the first in the world to be based on International Public Sector Accounting Standards (IPSAS), standards which improve transparency and accountability in public financial management and also allow for greater comparability between countries and public sector bodies.

Photographers' UN Flag Last year CIPFA and the UNDP signed a contract for CIPFA and Kaplan Financial to train up to 500 UNDP staff in CIPFA’s international public financial management qualification. The qualification is divided into four different stages, each of which is a qualification in its own right, together the four stages take three years to complete. 150 staff members have begun training with further contingents due to be introduced in the future.

The qualification, dealing with public services, has been designed to meet the needs of all public sector finance staff from entry level to full professional. At the end of the qualification successful students will be entitled to become full members of CIPFA and add CPFA (Chartered Public Finance Accountant) after their name.

Tuition will be provided in three languages, English, French and Spanish, with Kaplan Financial acting as CIPFA’s tuition partner for the English language students.

Alan Edwards, CIPFA’s International Director, commented,

“This partnership between the UN Development Programme and CIPFA represents a great step forward in the promotion of high quality public financial management around the world.”

George Kyriacou, UNDP’s Deputy Director of Finance and Resource Management said,

“UNDP is committed to performance effectiveness, accountability and transparency as critical ingredients to trusted development partnerships.

“UNDP’s adoption of IPSAS brings greater transparency to UNDP’s financial information, and greater support for results-based management. UNDP’s partnership with CIPFA will help UNDP maintain these high standards, through the continued professional development of UNDP’s finance staff.”

LSBU and ACCA Deliver Career Lecture

By: GLOBAL ACCOUNTANT
Published March 7, 2013, in Events, Training

Students and professionals gathered yesterday to attend the ﬁrst in a series of events that will be hosted by London South Bank University (LSBU) and the Association of Chartered Certified Accountants (ACCA). The lecture titled, “The Right Choice for a Global Career” was unwrapped by Sarah Moore-Williams, Director of ACCA Programme.

Sarah said:

“LSBU and the ACCA have worked together to maintain the outermost standard available to any accounting student and will continue our partnership to better the student experience throughout the course. The programme at LSBU is backed by the ACCA seal of approval. Our accountancy course is delivered along with an employability programme which is at the core of our education and it is that student diversity at LSBU which provides the university with a distinct advantage to shape its students into world class accountants”

ACCA_logo

Linda Hanson of the ACCA chaired the event and expressed the importance of students being able to realise the importance of professional qualiﬁcations and the collaborative work between LSBU and the ACCA. The Institute had long ago granted LSBU maximum exemptions for its degree course and will continue to support the quality education delivered under Sarah Moore-Williams.

Sitting on the panel was Angelina Gyakye, Assistant Management Accountant and LSBU graduate, Carlison Morris, Managing Director of Compliant, Edmund Yu Director of Career Interactive and Atul Sharama, Partner at GKP Partnership.

Carlison Morris emphasised the importance of adding value to an employer and how one could demonstrate this skill by understanding what a business really needs from its employees.

Carlison added:

“I am ready to offer an internship to anyone who is willing to learn, dedicate time and will provide my business an advantage”.

Edmund Yu of Career Interactive delivered his expertise in international student employability and assistance in plugging the hole where there is a knowledge gap of what students are permitted and not permitted do within ethical and legal routes available to them.

Finally amongst the panellists a very experienced Atul Sharama of GKP presented his know-how as an example to attendees, his world travel and the effectiveness of being able to communicate in more than one language.

Atul had previously worked with 3 out of the top 4 largest accountancy ﬁrms – being responsible for their set up in various locations around the globe; abetted by his ability to speak various languages.

Atul continued his speech:

“GKP has always taken an active role in trainee development and we are keen to continue supporting this ethos as we become more aware of the added beneﬁts interns and newly graduates can bring to the table.”

However, Atul did exercise caution that the route to becoming a member of the ACCA involves dedication, ethics and high doses of motivation.

The lecture concluded with good networking opportunity for students to meet employers.

All ACCA Members Now Have Access to a US Management Accounting Credential

By: GLOBAL ACCOUNTANT
Published February 7, 2013, in Training

Bachelor’s degree requirement waived for ACCA members seeking CMA certification

The ICMA (Institute of Certified Management Accountants) Board of Regents, representing the certification division of IMA (Institute of Management Accountants), has voted to waive its usual bachelor’s degree requirement for ACCA (Association of Chartered Certified Accountants) members wishing to earn IMA’s CMA (Certified Management Accountant) credential.
This is the latest outcome of a strategic partnership between IMA, the US-based association of accountants and financial professionals in business, and UK-based ACCA.The bachelor’s degree waiver will allow all ACCA members around the world, regardless of background, access to IMA’s CMA credential. ACCA members who would like to take advantage of obtaining a US credential can earn the CMA after successfully completing the two-part CMA exam and satisfying the two-year experience requirement in a management accounting job role. This is a benefit to ACCA members who wish to have a US-based credential or who wish to have additional recognition of their expertise in management accounting and access to practitioner tools exclusively focused on this role.

Jeff Thomson CMA, IMA president and CEO, said:

‘ACCA and IMA share consistent values, one of which is opportunity. This waiver offers a clear and tangible opportunity for all ACCA members. Both organisations recognise the value of certification and learning that comes through a rigorous exam process.’

Helen Brand, Chief Executive of ACCA, said:

‘Our global strategic partnership with IMA was created with the aim of bringing benefits to our members. Our partnership agreement is based on ‘empowering accountants and financial professionals to drive business performance’. We welcome this new opportunity for our members specialising in management accounting roles and the enhanced recognition this can bring, especially for our many members who work for US-headquartered corporates.’

ICAEW and INSEAD launch CFO leadership programme in Singapore

By: GLOBAL ACCOUNTANT
Published November 19, 2012, in Training

ICAEW has teamed up with renowned business school INSEAD to launch its Financial Talent Executive Network (F-TEN™) business leadership programme in Singapore

Launched in the UK in 2009, F-TEN™ is an elite leadership programme which uses mentoring and peer-to-peer networking to help senior finance professionals develop the leadership skills required of today’s Chief Financial Officers. The launch, which was announced by Singapore CFO Institute Advisory Council Chairman Olivier Lim during his opening speech at this year’s CFO Connect Symposium, marks the first international offering of the highly successful programme.

One of F-TEN’s™ unique aspects is that it offers participants the opportunity to be mentored by a leading business executive. ICAEW has access to a pool of world-class mentors, including leading CFOs, CEOs, NEDs and chairmen all of whom have extensive experience of working at board level in leading companies both in Singapore and internationally. The mentoring sessions alongside the financial leadership workshops, networking dinners and peer to peer coaching groups offer Singapore finance professionals a powerful development experience.

Olivier Lim, Chairman, Advisory Council, Singapore CFO Institute, said:

“The Singapore CFO Institute is delighted that ICAEW has decided to introduce the F-TEN programme in Singapore to meet the professional development needs of the CFO ecosystem. The programme will add to Singapore’s stature as a vibrant and leading hub for finance and business.”

Mark Billington, Regional Director, ICAEW South East Asia, said:

“The F-TEN programme is designed to develop the leadership and financial expertise required of today’s and tomorrow’s high-performing CFOs. Research shows having an external mentor is invaluable in providing impartial guidance on practical business issues and advice on managing boardroom dynamics. F-TEN uses a blend of one-to-one mentoring sessions, networking events, peer-learning and workshops. ICAEW is delighted that the course will be taking place at INSEAD’s world-class Singapore campus. This is a great opportunity for any executives seeking to take their leadership skills to the next level”.

Lily Fang, Associate Professor of Finance at INSEAD, said:

“Bringing together ICAEW and INSEAD’s financial and leadership expertise in training means that this programme poses a unique opportunity to successful finance professionals preparing for the step up to a strategic role.

CIPFA to Deliver International PFM Training with Leading Software Vendor

By: GLOBAL ACCOUNTANT
Published October 16, 2012, in Training

The Chartered Institute of Public Finance and Accountancy (CIPFA) has announced a new partnership with FreeBalance to help strengthen Public Financial Management (PFM) in countries around the world.

FreeBalance is a leading vendor of Government Resource Planning (GRP) software. It will be accredited to provide training to students who enrol on CIPFA’s International PFM courses in those countries where FreeBalance operates. Students who complete the Professional Qualification in International Public Financial Management will be entitled to apply for membership of CIPFA and to use the designation Chartered Public Finance Accountant (CPFA).

Manuel Pietra, President & CEO of FreeBalance, said:

“CIPFA is the leading provider of specialist PFM qualifications in the world and we’re excited by the opportunity to introduce the CIPFA certification program to our customers,

“FreeBalance and CIPFA are in a unique position to help some of the most progressive countries in the world build the necessary PFM capacity to support good governance and improve public services.”

Alan Edwards, International Director of CIPFA, commented:

“FreeBalance customers will benefit from having staff trained to the highest standards, certified by CIPFA,

“CIPFA and FreeBalance recognise that a key component of an effective PFM system is the existence of properly trained and qualified PFM practitioners working in government.”

For more information about CIPFA please visit the Global Accountant CIPFA Profile Click Here.

BPP Opens Higher Level Apprenticeships to Employers

By: GLOBAL ACCOUNTANT
Published October 15, 2012, in Training

BPP has launched its new Higher Apprenticeship programme for employers in professional services to support young people aged 16 and over, who want to gain an audit, accounting or tax qualification whilst working.

The Higher Level Apprenticeship in Professional Services will be run in collaboration with firms whose employees will benefit from the non-university route of a professional qualification that also focuses on technical and work based learning approach.

From October, BPP will run higher apprenticeship schemes in Audit, Accounting and Tax, leading to accreditation from the Institute of Chartered Accountants England and Wales (ICAEW) and the Association of Taxation Technicians (ATT), and the Association of Accounting Technicians (AAT).

James Hammill, Director of Professional Apprenticeships at BPP said:

“This is an initiative that has been designed by employers for employers. Not only does it address and teach the skills that the sector is looking for, but it gives access to a diverse talent pool, at earlier than university stage.

“Any employer, be it a small firm or larger organisation faced with staff development and recruitment issues in the current economic climate would jump at the opportunity to have what is effectively a 2 year in-house bespoke training programme, leading to a professional qualification for their employees, with no drain on human resource, and little disruption to day to day business”.

“The powerful combination of earning whilst learning is a win-win for young employees too. The apprentices will benefit from on the job experience with 30 hours classroom learning, at no cost to them, which, is an attractive option for many who leave school and don’t want to go to university – or, for those who don’t want to incur debts.”

Employers in the audit, accounting and tax professions, or those that employ any trainees in these disciplines will receive government funding for each apprentice, as well the costs of financial marketing and vacancy matching. BPP will also provide a confidential CV screening service provided to help employers to source and interview potential apprenticeship candidates

BDO, one of the UK’s leading accountancy firms is the first to take up BPP’s Higher Apprenticeship scheme. From this month, 30 of its trainees across the UK join will become apprentices.

Greg Owens, Director of Audit Training & Qualification, BDO, said:

“We are fully supportive of the Higher Apprenticeship programme as it provides a great opportunity for widening access to the profession, as well enabling aspiring accounting professionals to develop skills and deliver exceptional client service. With BPP’s solid expertise in training and education, as well as it strong links with employers, they were a natural choice.”

The Higher Apprenticeship in Professional Services qualification, led by PwC is part of a government sponsored initiative that was launched in December 2011 by the Department for Business and Skills (BIS). Programmes have been designed by employers, education specialists and industry bodies to ensure that all elements are aligned with the standards set out by the profession, and those of the equivalent level of the first stage of a degree. BPP has sole responsibility for the overall framework.

The Government is currently looking at plans to introduce apprenticeships at level 6 and 7, which would be equivalent to a full undergraduate and postgraduate degree respectively. As a university college with its own degree awarding powers, a natural step for BPP would be to offer apprenticeships on the scheme a direct route to degree level.

PwC enjoys highest levels of interest for student programmes

By: GLOBAL ACCOUNTANT
Published October 4, 2012, in Training

Voted the top graduate employer for a record-breaking ninth consecutive year, PwC is welcoming the last of the 1,200 new graduate joiners through its doors this October.

With over 22,000 applications received for graduate roles starting this year, the aspiring accountants faced stiff competition to secure their place. Across all student programmes, the firm received a record 35,500 applications for nearly 1,800 places, split by 1,200 graduate, 100 school leaver and almost 500 paid internship opportunities, which includes partner shadowing and work placements.

The new graduates are joining PwC offices across the UK in the tax, assurance, actuarial, legal, consulting and advisory practices, as well as in technology roles where trainees work in information security and system testing. Numbers of graduate vacancies in the consulting, financial advisory, technology and legal practices have all increased this year, showing that these are the firm’s fastest-growing areas.

Gaenor Bagley, PwC head of people, said:

“We’re very pleased to welcome our new graduate joiners who are at the start of an exciting career with PwC. We aim to provide graduates with the very best PwC experience from the moment they step through the door and throughout their career. Despite a lack of growth in the economy, we continue to bring huge numbers of graduates into the business as we strongly believe in building a healthy pipeline of talent. Today’s graduate joiners are our future business leaders.”

Richard Irwin, PwC head of student recruitment, said:

“We work with students throughout their academic life to help them understand what we can offer and how they can develop and demonstrate the skills that will allow them to stand out from the crowd. As an employer we feel it is important to help students make informed decisions about their future and ultimately get the job they want. The graduates who have joined us this year will benefit from the best possible career opportunities, and each one of them has the potential for a successful, long term career with our firm.”

During their first week in the firm, the new graduates are involved in networking events, ice breakers and welcome activities designed to give an overview of the firm’s culture and brand values. A focus of the graduate induction this year is a group project, where graduates work together to produce videos and presentations to introduce themselves to the business in a creative way. They also have an introduction to e-learning to help them study effectively towards their professional qualification and receive hints and tips from those a few years into the programme.

BPP and Chartered Accountancy firm launch trainee programme

By: GLOBAL ACCOUNTANT
Published October 1, 2012, in Training

Accountancy and taxation training contracts to be made available for next 5 years with training delivered by BPP Professional Education

Chartered Accountancy firm Burgess Hodgson announced a new trainee scheme with BPP [01.10.12]. The programme will train eight young school leavers and recent graduates each year, for the next five years to achieve a professional ACA qualification from the ICAEW.

Steve Sutton, Senior Partner at Burgess Hodgson said:

“Training has always been a cornerstone of our business, and we encourage excellence from those entering the profession all the way through to those of us who have been practicing for longer.

There will also be the possibility to study for the Chartered Tax Adviser (CTA) qualification. BPP will be responsible for delivering the academic training from its Maidstone centre.”

The world of accounting is changing; it is not just about passing exams; the demands are more challenging, and we are always looking to add value for our clients. Training requirements by the ICAEW produce technically competent accountants within a strong ethical and moral professional framework.

The firm has been working with BPP for over 10 years, and has been impressed by the training set up. Over the last year 100% results achieved by its students at the professional stage, where the national pass rate is can be as low as 69%.

Stuart Whent, BPP Managing Director, Maidstonesaid:

“Burgess Hodgson and BPP are a good fit – we both continually strive for improvement and excellence in our business, and are passionate about investing in training and educating young people in this profession, especially in the current economic environment.”

Burgess Hodgson Training partner Matthew Sutton added that he was impressed with BPP’s plans for the future, its commercial awareness, and some of the future innovations it has come up with regarding the training of the firm’s students.

Nick O’Hara, ICAEW South East Regional Business Development Manager, added:

“The UK and regional economy has vital need of business leaders who can apply their knowledge and financial acumen in practical and innovative ways – and our students are taught not just how handle technicalities but how to think above and beyond the figures.”

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