ACA Professional Training Scheme

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Overview

The application process commences in June each year (one year before graduation).

The training contract commences in September the following year.

 

 

How to apply

The application process commences one year before graduation.

The application process and interviews commence as of 1 June each year. It is highly recommended that candidates apply the earliest time possible as this scheme is very competitive.

 

Benefits

As part of your training contract, the following expenses are fully covered by PwC:  

 

  • Tuition fees, study material and examination fees, for the first attempt of each examination
  • Exemption fees
  • Admission to ICAEW Membership fee

 

 

In addition to the above, you will get:

 

  • Paid study leave, for the first attempt of each examination
  • Annual salary increase
  • Unpaid leave, upon approval

 

 

You will also enjoy benefits, such as:

 

  • Medical coverage
  • Life assurance
  • Provident fund
  • Flexible working hours
  • Friday afternoon off
  • Casual Friday
  • Free parking

Professional examinations

The ACA examinations are divided into 3 levels:

1. Certificate Level

The Certificate Level is the first level of the ACA examination structure. There are a total of 6 examinations at this stage.

The modules at this level introduce students to the fundamentals of accountancy, finance and business and are examined using computer-based assessment:

  • Accounting (ACC)
  • Assurance (ASS)
  • Business and Finance (B&F)
  • Law (LAW)
  • Management Information (MI)
  • Principles of Taxation (PoT)

2.Professional Level

The Professional Level is the second level of the ACA examination structure. There are a total of 6 examinations at this stage.

The modules at this level built on the fundamentals that students learn at the Certificate Level and test their understanding and ability to use technical knowledge in real-life scenarios. The Professional Level modules are paper-based examinations:

  • Audit and Assurance (AA)
  • Financial Accounting and Reporting (FAR)
  • Financial Management (FM)
  • Tax Compliance (TC)
  • Business Planning: Taxation (BPT)
  • Business Strategy (BS)

3. Advanced Level

The Advanced Level is the third and final level of the ACA examination structure. There are a total of 3 examinations at this stage.

The modules at this level test the students’ understanding and strategic decision making at a senior level. The Advanced Level modules are paper-based examinations:

  • Corporate Reporting (CR)

  • Strategic Business Management (SBM)

  • Case Study (CS)

Exemptions

In most cases, you will be eligible to apply for up to 8 exemptions (i.e. “Credit for prior learning”) from the ACA examinations, and more specifically, for all 6 “Certificate Level” modules and 2 of the “Professional Level” modules (i.e. Financial Management and Business Strategy), if you can provide evidence that the learning outcomes have been met as part of your academic or professional studies.

In some specific cases (e.g. PwC-UCY Flying Start Programme), you will be eligible to apply for up to 12 exemptions.

For more information regarding “Credit for prior learning”, please visit the ICAEW website, where you can find out how many exemptions you can obtain with your university degree.

Exam centre

All examinations are held in Cyprus.

Course method

You will follow a “Block-Release” programme, whereby you attend classes and examinations on a full-time basis, for specific time periods (i.e. blocks) during your training contract. You are released from classes and work at the office during the period you do not have any classes or examinations.

ACA membership

In order to obtain the ACA membership, you must successfully complete the following:

  • 15 examinations, as mentioned above

  • 450 days of Practical Work Experience.

    • It is mandatory to have at least 450 days of chargeable work before applying to become an ACA Member.

  • Professional Development

    • We offer an accredited Professional Development Scheme, that helps ACA trainees develop professionally by considering their work experience under the following 7 ladders:

  1. Communication

  2. Team Working

  3. Decision Making

  4. Consideration

  5. Adding Value

  6. Problem Solving

  7. Technical Competence

  • Ethics & Professional Scepticism

    • A web-based training programme, which is made up of 6 modules, 5 webinars and 1 assessment that help trainees develop their professional ethics.

Entry requirements

  • Academic background:

       - Be an undergraduate university student, in any field of study

       - Expect to graduate from university with a minimum grade as follows:

       University of Cyprus 7,5/10

       Other local universities 3,33/4

       Greek universities 7,5/10

       UK universities 2:1 (i.e. 60-69%)

       USA universities 3,33/4

  • Fluency in English
  • Fluency in Greek will be considered an advantage
  • Strong IT skills
  • Strong communication and interpersonal skills
  • Team oriented
  • Commercially aware
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