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Becoming a Chartered Accountant? What’s required to start the process from academia to qualified. Begin your Finance Recruitment journey
Finance Recruitment
Chartered Accountants are in high demand from local and national employers CA’s are key players in the world of business, with their high levels of skill and knowledge, as well as initiative and a flair for problem solving. If you are working in accounting currently you may have thought about becoming a qualified chartered accountant as being a Chartered Accountant opens up a wide range of business and career opportunities both in New Zealand and overseas. With the continued brain drain to Australia and the EU many employers are facing severe staff shortages especially for specialist accountants, Finance Recruitment is quite robust within NZ.
To become a Chartered Accountant you need to complete three basic elements set by the Institute of Chartered Accountants (NZCIA). These three elements are:
o academic study
o practical experience
o professional competence programme
The stages to becoming a Chartered Accountant start from your academic learning: your course and programme must approved by the NZCIA
Stage1 four-year recognised programme, comprising:
o Four years of degree-level study
o Completion of a bachelor’s degree
o Coverage of the compulsory topics
o A minimum of 15% liberal or general study.
Once completed you can apply for Provisional membership, and it’s at this point that you’re likely to need to review your current employment or start to make career plans as you will require 1 years commercial experience
Stage 2
General Practical Experience
o One year of relevant accounting experience (in accordance with requirements laid out in the Chartered Accountant Log Book)
o May be completed before, during or after the completion of the academic requirements.
After completion of minimum commercial experience, Submit your certificate of General Practical Experience
Stage 3
Specified Practical Experience (1st year)
o (Note: you must complete at least 24 months in total)
o Minimum of one year of experience
as specified in the Chartered Accountant Log Book or Log Book Supplemental for Academics
o In an Institute – Approved training organisation (ATO).
o Under the oversight of, and certified by, an Institute-registered Mentor
o Commences only after the completion of the academic requirements and General Practical Experience.
Professional Competence Exam 1 PCE1 (completion of this to advance)
o self study
o four hour ethics workshop
o two hour written exam
Stage 4
Apply for / Confirmation of eligibility to enrol in PAS ( Professional Accounting School)
You will need to complete a Special Practical Experience (2nd year)
o at least a further 12 months
o as for specified practical experience above
and complete stage two PCE2
Professional Accounting School
o Self Study
o Six 10-hour workshops
o Includes Professional Competence Exam 2
o One case study-based exam
Stage 5
Apply to transfer to Full Membership and once approved, you are now a Fully qualified Chartered Accountant
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