1. Log your experience

Before you leave your current employer, make sure your practical work experience days, professional development and ethics and professional scepticism sections of your online training file are up to date and, where relevant, signed off by your employer. 

You will then need to request that your employer cancels your training agreement online.

Once you find a new employer, you can re-register as a student using the re-registration form here. 

If your new employer isn’t already an ICAEW Authorised Training Employer, it is straightforward for them to apply to become one. There must be somebody at the organisation who is qualified with a recognised professional body and who is willing to act as Qualified Person Responsible for Training (QPRT). That person can apply here.

2. Help the jobs find you

For most people, the first thing on your mind following a redundancy will be to find a new job.

You can look for your next role on our ACA training vacancies website, set up job alerts and upload your CV to make it searchable by employers.

Until a replacement training agreement is sorted, you can continue your studies and are able to sit your exams. 

3. Stand out from the crowd

In a competitive market, it’s more important than ever to make sure you stand out from the crowd – whether that’s making sure your CV ends up on the shortlist pile or providing a killer answer to an interview question.

A range of resources to help you build confidence are available from caba. This includes interview tips and advice for improving your online profile, as well as webinars and e-learning.

Don’t solely rely on AI to write your application – make sure it’s personalised, using your own language, and that you’ve checked it thoroughly before sending it off.

4. Do your homework

Securing an interview for a new job is a great foot in the door. Make sure you capitalise on the opportunity with solid preparation to impress any prospective employer. 

You can access useful resources via ICAEW’s eLibrary, including company profiles and industry intelligence, relevant e-books and trade journals. There’s also a dedicated section on psychometric testing, personality testing, aptitude tests and assessment centres. 

5. Time to upskill 

Brush up on a specific area of practice or learn about a new one; as an ACA student, you have access to a dedicated student support team; access to past exams and examiner feedback, plus a range of free resources such as Finance in a Digital World as part of our student benefits. You can also stay up-to-date with our regular Business Confidence Monitor.

Joining ICAEW’s Faculties is free and includes Tax, Audit and Assurance, Corporate Finance and Corporate Reporting. These Faculties will give you access to in-depth, subject specific content to help you in your area of work including guides, technical updates and webinars. 

6. Build your network

Social networks such as LinkedIn make it easier than ever to stay in touch with existing contacts and forge new ones. Our own ICAEW pages offer great opportunities to stay up to date with the latest insights across the professional to support your career development. You can join any of our Communities for free. 

Student societies provide a great way to meet other students in your area and many organise dedicated student networking events. Check out our extensive programme of events and guidance on networks and networking. 

The MyICAEW app is available to download to keep up to date with latest insights and join the app community to talk to other ACA students and professionals.

7. Financial support

As an ACA student, you and your family can apply to caba for financial support in times of need. If you are worried about meeting financial commitments or paying for essential living expenses, then you may benefit from talking to caba. caba offers debt advice and financial support and grants, including energy payments and back to school grants. Redundancy is a scary time, but there is support available to help you financially, so you can have one less thing to worry about.

8. Stay positive

Even if you have seen it coming, redundancy is often a shock, warns Ola Opoosun, at caba. “Work is often more than just an income. It offers status, a daily routine and a sense of purpose. For some people, their work environment is also where a lot of their friendships are formed. This is a lot to lose.”

Redundancy can be viewed as a chance to seek a different path, industry or location - take time to step back and look at the opportunities.

9. Know your legal rights

Sometimes the need for specialist advice is unavoidable. caba offers free legal advice to ICAEW members, students and their families who are facing redundancy. Get in touch with caba to arrange to talk to a legal adviser over the telephone. 

You can email enquiries@caba.org.uk, visit caba.org.uk/letstalk or call +44 (0)1788 556 366.

10. Take care of your wellbeing

Redundancy can stir up a whirlwind of emotions – stress, worry, self-doubt, uncertainty about the future, a loss of confidence, and even grief. Balancing these feelings while staying focused on your job search can be tough. Sometimes, simply sharing your thoughts with someone who understands in a judgement-free space can make a big difference.

Through caba, ICAEW students have free access to Qwell, an anonymous online service connecting you with professional counsellors. You can talk to them whenever you need a judgement-free, listening ear.