A new designation by ICAEW to help you upskill your staff and recognise their achievements.
In line with our commitment to developing future professionals and to supporting employers training with us, we now have a new designation, the ICAEW Business and Finance Professional (BFP).
Aimed at professionals in a variety of departments and career levels within your business, the BFP designation is a way for you to build a structured professional development path for your staff and give them the opportunity to gain recognition for their achievements.
For an overview of what is involved in becoming and being a BFP and how the designation can benefit your business, you can have a look at and download our brochure.
Benefits of BFP for your business
- A great way to manage talent and develop staff
- Enhance workplace productivity and credibility with clients by having designated staff within your organisation
- Professionals with the BFP status have a strong understanding of ethics and adhere to strict ICAEW standards
- Increase staff retention and boost recruitment
- Make the most of the ICAEW support resources available to BFPs, including our helplines
- Recognise the achievements of your staff and provide them with an internationally recognised professional status
- Support and promote a culture of ongoing professional development
- Offer a structured professional development path for all levels
Who is it for?
There are no minimum entry requirements so anyone in your team who is committed to their development and to increasing their professionalism can start working towards the designation. BFP is suitable for:
- Members of staff with accountancy or finance experience, but without a relevant qualification;
- Staff who are partly qualified with other professional bodies such as AAT or ACCA;
- Staff currently studying or who have completed ICAEW CFAB;
- Staff not working in finance or accountancy, but who want to gain essential business and finance knowledge;
- ICAEW Level 4 apprentices.
BFP in more detail
There are three key elements that need to be completed before your staff can apply for the BFP designation:
- Decide whether you want to promote ICAEW CFAB and BFP to your staff as an option, or include it as part of a wider package of training. If you want to count work experience towards the ACA qualification, find out more about becoming authorised here.
- Identify what the starting point is for each of the employees you are considering for the BFP designation.
- Depending on their starting point, your employees will need to follow certain steps before gaining BFP. You can have a look at the application process here. They will need to apply for each step themselves.
- Call us or email us to discuss your options. You will find all contact details below.
It is completely up to you whether you cover the costs of training and the annual subscription fee or you ask your employees to do so.
Are you an ICAEW member?
If so, you can register to use the BFP designatory letters free of charge.
If you would also like access to the BFP resources, please fill in this form.