Overview
On this route, new or existing staff, of any age, from any background, can progress through the ACA. Embedding the knowledge, skills and experience that your business needs now and to grow in the future.
With the option of two apprenticeship programmes (the Level 4 and Level 7) available in England, there is no upper age limit on who can undertake an ICAEW apprenticeship. The only extra entry requirements, other than those already in place for the ACA as part of the Level 7, for both the Level 4 and Level 7 Apprenticeship is, a Level 2 qualification in both Maths and English before they attempt the end-point assessment.
Benefits
With government funding available for both the Level 4 and Level 7 apprenticeships, offering an apprenticeship allows you to broaden your recruitment pool, recruiting students straight from school or upskilling current employees. You can develop unrivalled finance and technical skills throughout your organisation with high-quality, tried and tested training.
Funding
Both the Level 7 and Level 4 apprenticeship routes have government funding available, whether you are a levy or non-levy paying organisation. Meaning training costs for your organisation are significantly reduced.
All employers operating in the UK with an annual wage bill of more than £3m are charged a levy of 0.5%. Levy-paying employers can claim up to £8,000 for Level 4 apprenticeship and £21,000 for the Level 7 apprenticeship, per apprentice. Employers who do not pay into the apprenticeship levy can access funding via a government-employer co-investment, meaning non-levy paying employers can receive up to 95% government funding. This means your 5% contribution will be £400 for the Level 4 apprenticeship or £1,050 for the Level 7 apprenticeship. If you’re a non-levy paying employer, with 50 employees or less, and the apprentice you are employing is age 16-21, the government will pay 100% of the cost of the apprenticeship. In addition, both levy and non-levy employers can benefit from National Insurance savings of 15.05% for apprentices under 25 years old. Find out more in our Employer’s Guide to ICAEW Apprenticeships.
Structure
Both the Level 4 and Level 7 apprenticeships incorporate our globally-recognised qualifications:
Level 4 Accounting Technician Apprenticeship
Through this entry-level apprenticeship, students will develop knowledge, skills and behaviours, through a combination of off-the-job training, practical experience and the ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB).
Students undertaking the Level 4 Accounting Technician Apprenticeship are assessed through an on-programme and end-point assessment.
The six ICAEW CFAB exams needed for this apprenticeship can be taken in any order, at any time throughout the year, meaning you can frontload your students training depending on current business needs.
Level 7 Accountancy Professional Apprenticeship
This apprenticeship route will involve students completing the ACA qualification with additional apprenticeship-specific requirements over 36-48 months, depending on their prior knowledge and experience.
There are many similarities between this route and "traditional" ACA training. All elements of the ACA are included in the apprenticeship programme, including the completion of a minimum of 450 days practical work experience, 15 exams, our professional development ladder, and an ethics and professional scepticism programme. However, additional requirements, such as off-the-job training end-point assessment and a project report, must take place.
While the off-the-job training requirement can often feel daunting to an employer, it shouldn’t! Off-the-job training doesn’t necessarily mean ‘outside the workplace’, training can include anything from learning new systems, attending tuition provider skills days, shadowing or simply studying for the ACA exams with a tuition provider.
Success stories
Having created a customised training programme, Foxley Kingham offer the ICAEW apprenticeship route to attract and retain the right talent. Training with Foxley Kingham typically takes between five and seven years and new recruits complete a first year of AAT Level 3 before moving on to the ICAEW Level 4 Accounting Technician Apprenticeship followed by the ICAEW Level 7 Accountancy Professional Apprenticeship. Director, Crystal Boston, explained: “The first year enables the apprentices to get a feel for it and see if it’s what they really want to do – and us to get a feel for how they work. Then we move them onto the next qualification, the Level 4 apprenticeship, with work suited to that level, before putting them up through the next key stages of the ACA qualification via the Level 7 apprenticeship. It has been the right thing for our staff and our clients. It’s the best of the bunch.”
Foxley Kingham aren’t the only organisation benefiting from this popular route. Apetito, British Airways, Frontier Development Capital, Blue Sky and more have found success offering the apprenticeship route.
Grow your own talent with an ICAEW Apprenticeship
Are you interested in offering an ICAEW apprenticeship? Register your interest to speak to our dedicated support team who can guide you through your options, as well as how to become an ICAEW Authorised Training Employer.
Not sure if the ICAEW apprenticeship route is the best fit for your organisation? Explore our other routes here: