ICAEW.com works better with JavaScript enabled.

Corporate finance qualification (CFQ) regulations

The requirements for candidates who wish to gain the CFQ.

Effective from 10 July 2012.

1. A candidate shall be entitled to apply for the award of the Corporate Finance Qualification and entitlement to use the designatory letters, ‘CF’ (Corporate Finance), subject to:
  • i) having passed the Diploma in Corporate Finance set by ICAEW and the Chartered Institute of Securities and Investment (CISI) for this award; and
    ii) having demonstrated appropriate and sufficient practical experience in corporate finance work; or
  • an assessment of their previous experience in corporate finance work.
2. Candidates who are applying for the Corporate Finance Qualification under regulation 1(a) must first:
  • have passed the CISI Level 3 Certificate in Corporate Finance; or
  • have passed Unit 2 of the CISI Level 3 Certificate in Corporate Finance and an approved international equivalent of Unit 1 of the CISI Level 3 Certificate in Corporate Finance; or
  • have passed the CISI SFA Corporate Finance Representative examination; or
  • have passed the Securities and Investment Institute Corporate Finance Diploma (with a regulatory paper); or
  • hold the old ICAEW Diploma in Corporate Finance that was in operation until September 2011; or
  • have completed a programme deemed equivalent to the CISI Certificate in Corporate Finance; or
  • hold current membership of ICAEW
3. The Committee shall determine the criteria for the making of an award under regulation 1(a)(ii) and 1(b).
4. A candidate shall pay on submission of their application for the award such fee or fees as may be prescribed by the Committee.
5. An assessment under regulation 1(a)(i) will be conducted at such time and in such place as the Committee or CISI may from time to time decide. Further details are contained in the CISI Examination Regulations.
6. A Corporate Finance Qualification certificate in such form as the Committee may prescribe shall be issued to each successful candidate.
7. A candidate awarded the Corporate Finance Qualification may use the letters 'CF' (representing the words 'Corporate Finance') after their name. The right to use 'CF' is at the discretion of ICAEW and the entitlement to use the letters may be removed by the Council of ICAEW for cause.
8. The Committee's decision whether to make an award of the Corporate Finance Qualification shall be final.


9. In these regulations unless the context otherwise requires or express reference is made in these regulations, words and phrases have the same meaning as in the Principal and Disciplinary Bye-laws.
10. The Committee shall have the power to vary or waive the above regulations.