To qualify as a chartered accountant all students must complete an ACA training agreement for a period of approved training with an organisation authorised by ICAEW. The training agreement is a formal signed document between your organisation and each of your students. It relates solely to the ACA.
You’ll need to agree a period of approved training which allows your students to complete the required 450 days of technical work experience.
- A graduate would typically be able to achieve this within a three year period of approved training.
- For a school leaver (with A levels or international equivalent) you may want to have a longer five year period of approved training.
- For individuals from some professional bodies or with professional qualifications, they may be entitled to a two year training agreement and 300 days of technical work experience.
As an employer, you can control the length of approved training your student undertakes. This can be a minimum of two years (if appropriate as above) or up to a maximum of five years.
Sample training agreement
To help you, ICAEW has produced a sample or proforma training agreement. You can adapt this to reflect your own training policies, in particular those relating to study leave and exam attempts.
About training agreements
Training agreements
Independent evidence shows higher exam pass rates for those qualifications that require some form of formal training agreement in place.
(Source: Professional Oversight Board)
The ACA training agreement encourages the integration of exam study and work experience, allowing students to put into practice what they learn for their exams and apply those skills developed in the workplace to their studies.
The ACA training agreement relates specifically to the ACA. It explains the support that your organisation will provide to your student during the length of their approved training and the standards of performance that the student is expected to achieve to become an ICAEW member.
Why is the training agreement important?
The agreement provides a framework for you to structure your student's training and development. It is important that you encourage and monitor development throughout the training agreement, not only to ensure that your student receives the training required to qualify as a chartered accountant, but to encourage your student to remain with your organisation once qualified.
The training agreement represents a two-way commitment between your organisation and each student. It helps your student know they will receive support and guidance during their studies, and you know that your students are committed to your organisation and their studies.
Registering the training agreement
You’ll need to register the training agreement at the office where the student is based.
Employment contract
In most countries, employment law requires your organisation to provide your employees with an employment contract. This is entirely separate from the ACA training agreement. Refer to your human resource specialist or your employment law solicitor for guidance on producing an employment contract. You can also access general information for the UK on the ACAS website.