Once you have become an ICAEW member and hold the AQ and a practising certificate, you can be nominated for responsible individual (RI) status by a firm of registered auditors to gain audit signing rights.
The CNDCEC qualification is not recognised by the Financial Reporting Council for the award of the AQ in the UK. You will therefore be required to pass additional examinations and complete an additional period of practical experience to obtain the AQ.
AQ requirements
- Pass the Advanced Level exams
- Corporate Reporting
- Strategic Business Management
- Case Study
- Pass the Certificate Level exams:
- Principles of Taxation
- Law
- Complete a 3-year training agreement within an ICAEW Authorised Training Employer (ATE). You may be eligible to apply for one year credit for prior work experience (CPWE) if you have recent experience within an ICAEW ATE.
- Complete at least 2-years' experience within an EEA firm of registered auditors, which is also an ICAEW ATE, either during your training agreement or once you have come into ICAEW membership.
- Achieve a minimum of 240 days of appropriate audit experience within an ICAEW ATE. This experience can be gained both during your training or whilst in ICAEW membership. Of the 240 days' audit work experience:
- at least 120 days must be in statutory audit work as defined in the Companies Act 2006, and;
- the rest must be in either statutory audit work or other audit work similar to statutory audit work, where the nature of such work conforms to the definitions agreed by ICAEW and the Financial Reporting Council.
You may cite some work experience from territories outside of the UK which have been approved by the FRC.
Registration and recording experience
Please apply for ICAEW membership under the PAEE route first and, once you have received confirmation of your ICAEW membership, please complete and return the following form(s) to register under a training agreement to complete the additional requirements for the AQ:
You will be given a separate training record and student number to your membership number in order to sit the exams and complete the practical experience requirements via the online Training File.
Credit for prior work experience (CPWE) as a special entrant
If you hold, or have held, audit signing rights under your CNDCEC membership in Italy, you may apply for credit for prior work experience (CPWE) as a special entrant applicant. This is an alternative option to the 12 months' CPWE allowed under our normal CPWE process – you cannot be granted CPWE under both routes.