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ACA Professional Training Scheme

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Start your journey of becoming a Chartered Accountant under a fully sponsored training scheme

What you need to know

To qualify as a Chartered Accountant (ACA) with the Institute of Chartered Accountants in England and Wales, you must be offered an employment contract with PwC and undertake a three (3) year training programme, under a five (5) year training contract. It takes three (3) years to qualify as a Chartered Accountant (ACA) with ICAEW and it takes five (5) years of work experience to gain a practicing certificate from the Institute of Certified Public Accountants of Cyprus (ICPAC). Upon completion of the five (5) year period, the employment contract remains in effect.

Beneftis

We will sponsor your journey of becoming a Chartered Accountant (ACA). As part of your training contract the following expenses will be fully covered by PwC:

  • Tuition fees, material and examination fees (for the first attempt of each examination)

  • Exemption fees

  • Admission fee to ICAEW Membership fee 

In addition to the above you will get: 

  • Paid study leave, for the first attempt of each examination

  • Unpaid leave, upon approval

You will also enjoy benefits such as:

  • FlexMenu (such as FlexDay, FlexWeek, FlexPlace and many more)

  • Medical Insurance (optional)

  • Life Insurance 

  • Provident Fund

  • Friday afternoon off

  • Dress for the Occasion

  • Free parking

When to apply

The online application process commences in June each year. It is highly recommended that candidates apply one year before graduation as this scheme is very competitive.

Each year, the training courses commence in late August whereas the Employment and Training Agreement commences in December.

 

Course method

You will follow a “Block-Release” programme, whereby you will 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 Professional Examinations (as described below)

  • 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 you develop professionally by considering work experience under the following 7 ladders:

  1. Ethics and Professionalism

  2. Communication

  3. Teamworking

  4. Decision making

  5. Problem Solving

  6. Adding  Value

  7. Technical Competence

  • Ethics and Professional Scepticism

    • You will need to complete a web-based training programme, which is made up of 6 modules, 5 webinars and 1 assessment that helps trainees develop their professional ethics. 

Professional Examinations

The ACA examinations are divided into 3 levels:

Level 1: Certificate

  • 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:

  1. Accounting (ACC)

  2. Assurance (ASS)

  3. Business Technology & Finance (BTF)

  4. Law (LAW)

  5. Management Information (MI)

  6. Principles of Taxation (PoT)

Level 2: Professional 

  • 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 build 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:

  • Compulsory:

  1. Audit and Assurance (AA)

  2. Financial Accounting and Reporting (FAR)

  3. Financial Management (FM)

  4. Tax Compliance (TC)

  5. Business Strategy and Technology (BST)

  • Elective:

  1. Business Planning: Taxation (BPT)

  2. Business Planning: Banking (BPB)

Level 3: Advanced

  • 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:

  • The modules at this level build 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:

  1. Corporate Reporting (CR)

  2. Strategic Business Management (SBM)

  3. Case Study (CS)

For more information regarding the ACA examinations, please visit the ICAEW website

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 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 Center

All examinations are held in Cyprus.

 

 

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%)

    • US 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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