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Director for Wales blog: November 2016

There are some 3,000 ICAEW members in Wales. Around 20% are retired, 10% in Not for profit or public sector and the rest evenly split between business and practice. The trend, however, is an increasing shift away from practice.

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Martin Warren
It is never easy to identify why these trend exists and, of course, circumstances change and every individual is different but two pieces of evidence suggest part of the reason.

  • Firstly, small and medium sized practices used to rely upon the big four to produce qualifieds that would fill their middle management and junior partner roles but this supply has almost dried up. As the big four have concentrated in Cardiff and begun paying higher and higher salaries their students have moved out to more lucrative jobs in business and/or outside of Wales.
  • Secondly, the number of ACAs trained outside of the Cardiff region has fallen with employers choosing other accountancy qualifications that are perceived to be cheaper and more accessible.

These arguments are no longer true!

We need to buck this trend and so if you are supporting staff in your business or practice to study finance then choose CFAB, the first part of ACA training, for those who need a basic grounding in accounting, and ACA for those who you want to become fully fledged accountants.

As Chartered Accountants yourselves you can do this whatever business you are in by becoming an accredited employer. It’s not difficult, just contact your ICAEW Business Development Manager Samantha Starbuck in South Wales or David Garrigan in North Wales.

Finally, if you are in West Wales we are committed to providing training for CFAB and ACA in Swansea next year, but we can only do this if you commit to the numbers needed to make this viable. So please, if you want this to happen in West Wales, let Sam know how many you will train (just one is fine), and help us establish this provision.

Martin J. Warren
Director for Wales