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CA ANZ members (New Zealand) applying for the AQ – aptitude test route

You will need to hold the Audit Qualification (AQ), in addition to ICAEW membership and an ICAEW practising certificate, if you wish to gain audit rights in the UK.

Once you have become an ICAEW member and hold the AQ and a practising certificate, you can be nominated for responsible individual (RI) status by a firm of registered auditors to gain audit signing rights.

The Financial Reporting Council (FRC) has signed a memorandum of understanding on reciprocal arrangements (MOURA) with the New Zealand Financial Markets Authority (FMA) which provides two routes to the AQ for CA ANZ members in New Zealand:

  1. The aptitude test route for CA ANZ members who currently hold Licensed Auditor status in New Zealand.
  2. The experience route for CA ANZ members who do not hold Licensed Auditor status in New Zealand but have passed the appropriate New Zealand variant exams.

Aptitude test route

Applicants are required to pass the aptitude test in UK tax and law which comprises the two ACA Certificate Level exams: Principles of Taxation, and Law.

Eligibility requirements

To be eligible to sit the aptitude test, you must provide a letter from CA ANZ confirming that you:

  • hold current membership of CA ANZ and the dates you have held membership (you must retain your CA ANZ membership throughout your whole registration as an RI with ICAEW);
  • have gained membership of CA ANZ via the normal education and training route and not via any reciprocal membership pathway;
  • currently hold Licensed Auditor status in New Zealand, including the dates you have held this status;
  • have obtained Licensed Auditor status in New Zealand after completing the CA ANZ education and training requirements, and not via a reciprocal pathway;
  • are in good standing with CA ANZ.

Application

Please apply for reciprocal membership first and ensure you have received confirmation of your ICAEW membership.

Please then submit a letter from CA ANZ confirming you have met the above eligibility requirements along with a completed Aptitude Test Application Form to aq@icew.com.

Once you have been awarded ICAEW membership and passed the aptitude test, you will be awarded the Audit Qualification (AQ).

Responsible individual status

In addition to holding ICAEW membership and the AQ, you will also need to hold an ICAEW practising certificate before applying for responsible individual (RI) status. You can do this when completing your reciprocal membership application and you can also cite your membership time with CA ANZ towards the 2-year membership requirement for a practising certificate.

Once you hold ICAEW membership, the AQ, and an ICAEW practising certificate, you can apply for audit signing rights as an RI. This will involve evidencing your audit experience and CPD over the past 24 months.

Please note that you will also need to maintain your CA ANZ membership throughout the whole period you are registered as an RI and you will need to declare this during the RI application process.