Some frequently asked questions about the Corporate Finance (CF) qualification.
Select one of the following topics that relates to your question. If your question is not answered here, please contact us by email or call +44 (0)1908 248 250.
Eligibility to apply for the experience route
- Do I need to be a chartered accountant to apply?
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There is no requirement for you to hold a professional accounting qualification. To be eligible to apply you must have specialised in the field of corporate finance for at least five years. You must currently be working in corporate finance, or another relevant role, and corporate finance should form a substantial part of that role. You should be working at a senior management and/or leadership position (eg, partner, principal, director, managing director).
- How much experience do I need to be eligible to apply?
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All senior professionals who have at least five years’ experience in corporate finance are eligible to apply. You will need sufficient work experience to meet each of the requirements in the Examination of Experience, as set out in the application form through a description of six transactions and/or deals in which you have played a lead role, three of these must have been completed in the last three years.
- I have had a career break so I have more than five years’ experience but I don’t have experience from the last three years. Am I eligible to apply?
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One of the requirements of this qualification is to demonstrate knowledge of the current business environment which is why we insist that applicants must have experience in the last three years.
- I have experience of corporate finance but currently live outside the UK, can I still apply?
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As long as your experience is current and you meet the eligibility criteria, living outside the UK does not disqualify you from applying. The CF qualification is a global qualification and as such is open to applicants from all over the world.
- I have completed three deals in the last three years but not all of those deals were successfully transacted. Can I still apply?
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As long as the three deals on which you have worked have been concluded and as long as at least one of these deals was successfully transacted from your client’s perspective you are still able to apply.
Examination of Experience
- I have moved jobs within the last three years but the application form requires the three referees to have known me for at least three years. Whom should I approach for a reference?
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Your referees must have known you for at least three of the last five years and must have knowledge of the quality and scope of your work. At least one must be someone independent of your current or previous employers. All referess must be in a senior management and/or leadership position in corporate finance (eg, partner, principal, director, managing director). Their role is to recommend you for the qualification.
In addition to the three referees, each of the six transactions and/or deals you submit must be certified by a transaction or deal certifier. The deals may be certified by the same or different certifiers, who may also act as a referee. They must be a senior manager or equivalent (eg, partner, principal, director or managing director) and be a member of a professional body with an ethical code and/or hold the Corporate Finance qualification.
- Is there a limit on the number times that I can apply?
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You are eligible to attempt the Examination of Experience up to four times. If you fail, you should review the marks and comments made by the assessors in your results and feedback letters.
- What is the cost of the experience route?
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The cost of the Examination of Experience is:
- ICAEW member £788.00 + VAT
- Non ICAEW member £985.00 + VAT
Answering the Examination of Experience requirements
- What guidance will I receive to help me apply for the experience route?
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The application form contains detailed guidance notes to help you with your submission, including an example of a deal/transaction summary. You can download a copy of the guidance notes (PDF 95KB/2 pages) from our website. In addition, there is a webinar available to talk you through the application process.
- What support is there if I am unsure what to do?
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If you require further information or advise, our CF qualification team is available to answer your questions, please call +44 (0)1908 248 250 or email cfqualification@icaew.com.
Examination of Experience resubmission requirements
- If I am unsuccessful, can I re-apply?
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You may re-apply until you reach the maximum of four attempts. Details of resubmission requirements are set out in the feedback to unsuccessful applicants.
- Do I submit all the transactions when I resubmit my Examination of Experience?
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When you resubmit your Examination of Experience, you should submit all six of the original copies of your transactions together with any reworked and/or new transactions as recommended in the examiners’ feedback. You should read this feedback carefully in order to satisfy all requirements. All transactions should be marked appropriately in accordance with the instructions within your results and feedback letter. You must ensure that all transactions submitted were completed or terminated within the last five years.
- Do I need to include new examples in the transactions that I am resubmitting?
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The Examination of Experience refers to the use of examples of experience that are recent. This means examples of experience from within the last five years. As it may have been some time since you last applied, you will need to make sure that when resubmitting the transactions previously failed, you include examples from within the last five years. This enables you to include and reflect upon the most up-to-date and relevant examples in your answers.
All transactions and deals must be verified by a transaction or deal certifier. Where they have been reworked for resubmission, they must be reverified by a transaction or deal certifier.
- Do I need to include a curriculum vitae (CV) in my resubmission?
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Yes, if it has been some time since you applied, an up-to-date copy of your CV is requested. This enables you to include any new positions you have held or currently hold since your last application.
- Do I need to ask my certifier(s) and referees to sign off my resubmission?
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Yes, the assessors will expect your certifier(s) to have read the deals and/or transactions in your resubmission and reverify each one as authentic and a true record. Your referees must also reconfirm the accuracy of the total resubmission and recommend you for this qualification. The certifier(s) and referees may be those from your previous application.
- What is the cost to resubmit my application should I fail?
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The cost of each resubmission is £788.00 + VAT
- Who do I contact for information and advice?
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If you require further information or advise, our CF qualification team is available to answer your questions, please call +44 (0)1908 248 250 or email cfqualification@icaew.com.
Assessment of the Examination of Experience
- Who will assess my Examination of Experience?
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Suitably qualified and respected members of the corporate finance community have been invited by ICAEW to mark and assess your application. They combine the necessary technical skills and practical experience with a thorough knowledge and understanding of the assessment. ICAEW is a highly regarded awarding body and, in order to ensure that the CF qualification standards are consistent and results are reliable, employs similar assessment procedures for all its qualifications which include double marking.
CF qualification study route
- Is the study route available?
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We are currently in the process of making some exciting changes to the Corporate Finance qualification. Feedback from the market has highlighted a need for the qualification to evolve. As a result, it is undergoing a number of improvements to ensure the relevancy of the qualification in today’s business environment.
Information on the updated CF qualification study route will be available in early 2012. If you would like to receive information as it becomes available, you can either email us or register your interest.