ICAS and CIPFA launch landmark integrated qualification in audit
ICAS and The Chartered Institute of Public Finance and Accountancy (CIPFA) have today announced that they intend to work together to produce a ground-breaking new joint qualification in both public and corporate sector audit.
The qualification will combine the unrivalled expertise and standing of both institutes to meet the needs of the public and corporate sectors. This will also lead to dual designations from both ICAS and CIPFA for the students who train for this innovative new qualification.
Speaking on the launch of the new qualification, Anton Colella, Chief Executive of ICAS, said:
"This announcement signals an important strategic alliance between ICAS and CIPFA which we believe will add value to both Institutes. It is a marker of the ambition which our Institute has to grow the scale and breadth of our education offering in a way that enhances our reputation and maintains the quality of the CA.
"This is an important step for ICAS in bringing together the best of both audit worlds into a new gold standard qualification.
"This qualification is tailor made for a select group of audit professionals who are seeking competitive advantage in their careers in the future.
"It seeks to build on the opportunities in the modern reality of audit in the UK. That reality means practitioners will need a wider and deeper understanding to work across public and private sector audits."
Rob Whiteman, Chief Executive of CIPFA, commented
"CIPFA are delighted to be able to collaborate with ICAS in this way and will draw on the centuries of experience in professional accounting that our two institutes hold to ensure that this qualification is the new gold standard for audit.
"The qualification is good news for all those working in both public and private sectors and we believe it reflects the real needs of the mixed economy in this country.
"With the public sector making up around a third of UK GDP and increasing amounts of public spending carried out through the private sector, a joint qualification for auditors delivered by CIPFA and ICAS makes absolute sense for students and employers."
About the integrated qualification in audit
The integrated qualification responds to the growing need for accountants to be able to audit all entities in all sectors due to the mixed economy within which organisation now operate. The increasing fluidity between public and private sectors means many employers now require staff to have a registered audit status in both public and company audit.
The qualification will be aimed at prospective students and existing practitioners who will be working within this expanding mixed public/private sector environment.
It will lead to:
- Both public and company audit registration
- The right to use both the CA and CPFA designations
- Membership of both ICAS and CIPFA
The training in the qualification aims to start in autumn 2015 and can be delivered in a classroom across three years or as a blended learning model.
Video: A Complete Approach to Audit
ICAS CEO Anton Colella and CIPFA CEO Rob Whiteman discuss why the qualification is needed.