New CA academic policy background

 

From 1 January 2010 new academic requirements will be in place for students wishing to become Chartered Accountants (CAs).

 

The current admissions policy for CAs has been in place for more than ten years.  Whilst there have been revisions to the academic component, a comprehensive review of the three components (academic, practical experience and professional competence) has not been undertaken.

 

Catalysts for the review of the CA admissions policy included:

• The need to continue to meet the highest international professional education and training standards consistent with NZICA’s membership of the Global Accounting Alliance (GAA) and NZICA’s reciprocal membership agreements
• The need to remain relevant to market needs
• The need to ensure ongoing compliance with the standards set by the International Federation of Accountants (IFAC).

 

Key characteristics of the 2010 CA admissions policy are:

 

• Retention of the existing programme structure – a period of academic study, followed by a period of practical experience, and completion of a professional competence programme

 

• Adjustments to strengthen the weighting and delivery of technical accounting content within the academic component and to better support the Professional Competence Programme

 

• Reduction of liberal studies

 

• An expanded PCE 1 programme (renamed the Foundations programme).

 

The Foundations Programme is an enhanced version of the current PCE 1 programme, to be undertaken by all candidates seeking admission to the CA College.  The content includes that of the current PCE 1 programme, and has been expanded to include communication skills and an introduction to business problem solving. 

 

The overall length and duration of the academic, practical experience and professional competence programme components of the admissions programme for aspiring Chartered Accountants will remain unchanged at seven years.  The role of Approved Training Organisations (ATOs) and mentors also remains unchanged.

 

Transitional arrangements have been put in place to accommodate students who commenced their accountancy study before 1 January 2010.