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ICAEW Level 7 trailblazer in accountancy approved

Employers in England are now able to offer the Level 7 accountancy apprenticeship to both new and existing employees.

"Apprenticeships"

January 2018

The government has approved ICAEW’s assessment plan and funding band for the new apprenticeship standard, setting the cap at £21,000. For Apprenticeship Levy-paying employers, the maximum amount of funds that can be used towards an individual apprenticeship is £21,000.

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Non-levy paying employers will also have access to the apprenticeship funding. The government will pay 90% of the cost of the apprenticeship, with employers contributing the remaining 10%. Therefore, the maximum amount the government will co-invest is £18,900.

Mark Protherough, ICAEW Learning and Professional Development Executive Director, said: “This apprenticeship will provide school leavers and graduates with another route into chartered accountancy, as well as professionals who are looking to progress. For students, completing the Level 7 will enable them to gain a wide set of skills for professional development and it is a stepping stone towards gaining the ACA qualification.”

Since the introduction of the Apprenticeship Levy in April 2017, employers have been recruiting Level 4 apprentices to bring bright new talent in to their business. Employers who have been waiting for the Level 7 Trailblazer can now progress their students onto Level 7 once they have completed the Level 4 Trailblazer. For employers who have already registered ACA or CFAB students, it is also possible to transfer them on to an apprenticeship agreement to benefit from the funding.

“ICAEW’s Trailblazer Apprenticeships are an opportunity for people to combine competence in both knowledge and the skills and behaviours required to work in a firm or business,” Protherough said.

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