Hold or is eligible to hold the ICAEW CFAB qualification under the ICAEW CFAB regulations:

a. Sit and pass or have CPL for all 6 ICAEW CFAB modules. Students may not be awarded credit on the basis of prior learning for the Accounting assessment of ICAEW CFAB unless they are:

• Holder of a professional qualification deemed by ICAEW to be at least equivalent to the ICAEW CFAB who have passed the equivalent assessment in that qualification, excluding passes gained through claiming an exemption, to the ICAEW CFAB Accounting assessment; or
• AAT qualified and have passed the ACA Financial Accounting top-up assessment or the ACA Financial Accounting and Reporting assessment; or
• University graduates who have passed the ACA Financial Accounting module or the ACA Financial Accounting and Reporting module.

b. Have paid any applicable fees set by the Committee.

Gain a mark of 70% or above in the Ethics Learning Program online assessment.

Have met the Foundation Qualification Holder work experience requirement:

a. Have 12 months’ full time (35 hours per week) work experience in a business and/or finance role, or the pro-rata equivalent if working part-time. The work experience must have gained during the three years prior to the application.

b. Have acquired the following skills:

• Ethics and professionalism: The ability to behave ethically and sustainably whilst respecting others in order to uphold the values of the organisation and the accountancy profession.
• Communication: The ability to communicate effectively at all levels, using oral, written and presentational skills, in order to achieve positive outcomes.
• Team work: The ability to work collaboratively as a member or leader of a team in order to achieve shared goals.
• Decision-making: The ability to gather, interpret and evaluate data in order to make effective decisions.
• Problem-solving: The ability to analyse a problem, generate options and make recommendations in order to arrive at appropriate solutions.
• Adding-value: The ability to add value to the organisation, team or role in order to achieve objectives.
• Technical competence: The ability to seek, learn and use technology and technical information in order to support the achievement of organisation or team goals.

c. Work experience validation: Work experience must be validated by someone who works for the same organisation and who is a member of a professional body that is a full member of the IFAC or an individual approved by ICAEW. The person who validates the work experience must have worked for the same employer as the applicant during all of the period or work experience.

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Declarations in the application form:

a. Mandatory declaration that there are no past acts or defaults that might bring discredit etc

b. That they will be bound by our regulations and Bye-laws (this is key because by giving someone BFP, we are imposing additional CPD requirements on them that they might not want)

c. That they understand they aren’t ICAEW members

d. That they cannot engage in public practice