Accounting is the language of business.
Warren Buffet
If you’re looking at a career in accountancy, tax, business, or finance, then you may want to consider whether it’s worth studying for the Associate Chartered Accountant (ACA) qualification 1.
Being known as an ACA-qualified accountant can bring a huge range of benefits when it comes to advancing your career prospects, as you’ll have the relevant experience and professional knowledge to help you succeed within your chosen career. In this article, we'll look at four major benefits of this qualification and how to get this qualification as an accounting student.
💼 Global Recognition and Professional Prestige
While it can take a long time to earn the ACA qualification, and it certainly requires a great deal of hard work, the advantages of having those letters after your name are often considered well worth the effort.
One of the most significant benefits is the credibility and reliability that the ACA designation carries, both within Canada and internationally. The ACA is a prestigious qualification awarded by the Institute of Chartered Accountants in England and Wales (ICAEW).
Here’s why the ACA is so widely recognized and sought after by accounting and finance professionals like auditors or financial analysts here in Canada:
Backed by ICAEW's reputation and legacy
- Established in 1880 by the Royal Charter
- Known for trusted and quality service in the financial industry with the highest ethical standards
Globally recognized by many countries
- Examples include European Union countries
- Australia and New Zealand
- Hong Kong
- South Africa
Respected for its high qualification standards
- Consists of 14 exams
- Three levels: Certificate Level, Professional Level & Advanced Level
- Full passing of all exams to receive the ACA qualification
💹 Balanced Skills Through Comprehensive Training
The ACA qualification offers the best of both worlds in terms of acquiring theoretical knowledge and undergoing practical experience.
Recently, ICAEW announced updates to the ACA academic modules, introducing the Next Generation ACA to ensure the syllabus remains relevant and aligned with the needs of today’s finance and accounting professionals.
In particular, the changes place greater emphasis on the integration of technology, digital advancements, and sustainability issues within the profession. The table below outlines the latest exams under the Next Generation ACA, which is still adheres to the ICAEW syllabus.
| Exam Levels | Certificate Level | Professional Level | Advanced Level |
|---|---|---|---|
| Modules/Topics | 1) Sustainability and Ethics 2) Accounting Fundamentals 3) Assurance and Risk Fundamentals 4) Business Law 5) Tax Fundamentals 6) Business Insight and Performance | 1) Fundamental Case Study 2) Corporate Financial Strategy 3) Business and Digital Strategy 4) Tax Compliance and Planning 5) Assurance, Risk and Reporting and Corporate Reporting, Data and Assurance | 1) Technical Case Study 2) Strategic Business Management top-up 3) Strategic Case Study |
| Number of papers | 6 papers | 5 papers | 3 papers |
Though the new modules are introduced, candidates who registered earlier this year will still sit for the previous ACA exams. Let's review some essential information 2 for those who are planning to sit for the ACA exams this year.
Throughout 2025-2027, the existing ACA exams will be phased out with transitional arrangements.
Starting from September 2025, the New Generation ACA exams with new modules will take over the previous ACA exams.
Candidates who registered up to 30 June 2025 will complete the modules of the existing ACA.
Candidates who registered from 1 July 2025 will complete the modules of the Next Generation ACA.
Similarly, practical work experiences come with several benefits, especially in terms of personal and career development. When faced with real-life projects in the business or finance industry, you get to develop your professional judgment and decision-making skills while successfully applying what you have studied theoretically.
In terms of practical working experience, ACA candidates are required to look for one of the following industries:
- Accounting
- Audit and Assurance
- Tax
- Financial Management
- Insolvency
- Information Technology
💰Increased Career & Earning Opportunities
Our next benefit is particularly promising to those who are interested in climbing the corporate ladder and securing progressively higher earnings, especially in these three main career pathways:
Public practice
Financial services
Corporate leadership
The accumulation of industrial knowledge, paired with relevant practical experiences, is often highly sought by employers. Many ACA-qualified accountants who work in practice find that they are approached by recruiters more frequently once they are qualified.
ACA holders are often asked whether they would like to change jobs and take up a new global position in the same or different industry, because of the versatility and high recognition of the qualification in different countries.
🌍 Flexibility and International Mobility
This leads us smoothly to our next benefit: the global mobility of the ACA qualification. While Canadian accountants typically hold the Chartered Professional Accountant (CPA) designation, an increasing number of aspiring students are also considering the ACA — particularly those interested in pursuing careers outside of Canada. How does the ACA differ from the CPA in terms of flexibility?
ACA:
- Issuing body: Institute of Chartered Accountants in England and Wales (ICAEW)
- Global recognition: Widely recognized in the UK, Europe, the Middle East, and Asia
CPA:
- Issuing body: Chartered Professional Accountants of Canada (CPA Canada)
- Global recognition: Strong recognition in Canada and growing internationally
The turning point that established the ACA as a valuable qualification in Canada came on November 1, 2018, when a Mutual Recognition Agreement (MRA) was signed between CPA Canada and ICAEW. Through this agreement, two things are guaranteed:
- Canadian CPAs can apply for ICAEW membership in the UK
- ICAEW members with an ACA qualification can apply for the Canadian CPA designation
This instantly gives ACA credibility as an accounting designation in Canada, as both ACA and CPA are seen as equivalent qualifications without having to go through a tedious requalification process. Candidates with the ACA designation can easily apply for jobs, whether they are in or outside Canada.
Additionally, candidates who hold an ACA designation will stand out if they are applying for jobs in multinational companies that are headquartered in Canada, like Lululemon and Four Seasons Hotels and Resorts.
They could be deployed more easily to handle overseas operations in Asia or Europe because they are well-versed in the ACA syllabus.
With a boost in cross-border career mobility, it could also accelerate leadership potential wherever you go.
Whether you are trained in ACA in Canada or the UK, you would have an equal opportunity to hold executive finance roles in global corporations.
Meanwhile, don't forget to discover the job scope of a certified management accountant.
📚How Do I Start Studying Towards The ACA?
There are a number of different entry routes into the ACA, but typically, you would find an employer that is willing to pay for you to study towards your ACA exams, while you work for them and gain the relevant practical work experience that you need.
There is no typical ACA candidate, as no university degree is required to study for the qualification. Even if you have been to university, the background of candidates varies widely. For instance, many ACA students may have studied finance, accounting, or business studies while at university, whereas others may have studied unrelated subjects, as diverse as:
While an accounting graduate may have an initial upper hand over other candidates when it comes to modules such as accounting, ultimately you’re at no major advantage or disadvantage when it comes to completing the ACA exams, as everything in each module is taught from scratch, and many of the ACA course covers topics that aren’t likely to be taught in an accounting degree course at university. Here's how to start ACA in Canada.
Step 1
Register online through the Institute of Chartered Accountants in England and Wales (ICAEW) official website
Step 2
If you are a fresh graduate, you can find an ICAEW training employer in Canada, as the qualification also involves practical experience
Step 3
If you are already working in an accounting or finance firm, your employer may even sponsor you throughout the training
Step 4
Study and sit for the exams, and make sure you complete the 450 days of supervised practical work experience
If you are an independent candidate who plans to self-fund your ACA training, here's what you should know about the overall exam fees 3.
| Exam Fees for Different Levels | Fees for 2025 | Fees for 2026 |
|---|---|---|
| Certificate Level | £90 | £99 |
| Professional Level | £125 | £133 |
| Advanced Level | £215 | £220 |
| Case Study exam | £290 | £297 |
For current accounting students, if you’d like to combine your degree studies with the potential to study for the ACA, there are university courses out there that offer modules that are accredited by the ICAEW.
This means that, if you pass these modules during your degree, you may be entitled to a credit for prior learning in respect of a relevant module within the ACA course. Note that such credits only apply to certain exams within the ACA qualification, so you will still need to sit some exams to complete your ACA.
If you have already obtained the ACA qualification, you can directly apply for the CPA without redoing exams under the Mutual Recognition Agreement (MRA). It is not a joint-training programme that is done simultaneously.
🎓Ace Your ACA Exams with Superprof
Passing the ACA exams can be tough, but once you’re ACA qualified, a lot of career opportunities open up, and all the effort becomes worth it. Who knows, you might even think of becoming a certified fraud examiner?
If you feel like you need to improve your understanding of accounting concepts or want some additional support to improve your accounting knowledge, then you could consider hiring a personal accounting tutor on Superprof to help you.
A private tutor can be especially helpful if you’re currently studying accounting at school or university and would like some extra help when it comes to preparing for the end-of-year exams for an accounting degree or the ACA. It’s just a case of finding the best tutor for you! All the best for your ACA exams preparation!
References
- Discover the ACA. (n.d.). ICAEW. https://www.icaew.com/start-your-career/how-to-become-a-chartered-accountant/discover-aca
- Transitional arrangements. (n.d.). ICAEW. https://www.icaew.com/learning-and-development/aca/employers/support-hub/transitional-arrangements
- ACA fees. (n.d.). ICAEW. https://www.icaew.com/students/exams/book-an-exam/exam-applications/aca-fees
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