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Credit for prior learning - ICAEW CFAB students

Credit for prior learning (CPL), is available to individuals who are studying for, or hold relevant qualifications. This includes a professional accountancy qualification (eg AAT) or a recognised university degree with components in accounting, business or finance.

Exemptions/credit for prior learning (CPL) is available on up to five ICAEW CFAB modules as follows:

Accounting No credits available*
Assurance Degree / AAT / Professional qualification
Business and Finance Degree / AAT / Professional qualification
Law Degree / Professional qualification
Management Information Degree / AAT / Professional qualification
Principles of Taxation Degree / AAT**/Professional qualification

*Please note that ICAEW CFAB students are not able to claim CPL for the Accounting module. The only exceptions are for AAT qualified individuals who have also passed the ACA Financial Accounting Top-Up module or university students who have passed the ACA Financial Accounting and Reporting module or who passed the previous ACA Financial Accounting module.

**Only available on completion of Unit 18 Preparing Business Taxation Computations and Unit 19 Preparing Personal Taxation Computations.

Students with a degree

You may be eligible for CPL for Assurance, Business and Finance, Law, Management Information and Principles of Taxation.

  • You must have achieved a minimum mark of 50% in all degree modules relating to your application for credit for prior learning.
  • Each module must have been assessed by at least 50% written exam.
  • Your degree transcript must be dated within the last 5 years in order to apply for CPL.

Please check the online CPL directory to search for your higher education institution and the name of your degree.

Students with AAT

You may be eligible for CPL for Assurance, Business and Finance, Law, Management Information and Principles of Taxation.

You can either apply for credit online, or complete the application form.

Students holding another professional qualification

You may be eligible for CPL for Assurance, Business and Finance, Law, Management Information and Principles of Taxation. Credit is not available at the Accounting module.

How to apply for credit for prior learning

Once you have determined that you are eligible to receive credit for prior learning (CPL), you’ll need to complete an application. There is a non-refundable charge of £70 for each ICAEW CFAB module you claim credit for. There are a maximum of five credits available for ICAEW CFAB exam modules.

If your degree or professional qualification is listed on the online directory, you can apply for CPL (exam exemptions) online.

If you couldn't find your university, degree or professional qualification on the CPL directory and believe you are entitled to claim credit (see guidance information above), you will need to complete the credit application form below.

Please note:

  1. You cannot apply for CPL against an ICAEW CFAB exam module where you have already attempted that particular ICAEW CFAB module.  
  2. If your employer is contributing to the cost of your ICAEW CFAB studies, please check with them first. Your employer may decide they want you to complete all the ICAEW CFAB modules, even if you are entitled to credit on one or more of the modules. 
  3. Early application is essential as it can take up to 14 days from receipt of complete application with supporting paperwork for an application to be assessed and processed. We recommend that any credits are claimed for (and processed by ICAEW) before you begin your studies.