Frequently Asked Questions
If I get a place on the programme, what will you offer me?
Initially we offer a forty month training contract. During this time, we expect you to qualify for ICAEW membership. If you do, you are likely to be offered a permanent position as an Audit Principal, though this depends on your job performance and the availability of posts.
What if I don’t achieve ICAEW membership during the term of the training contract?
Your contract states how many examination attempts you can make. If you fail to pass your exams within this number of attempts, or otherwise fail to complete the terms of your contract, your employment will be terminated. In exceptional circumstances (e.g. for reasons of health, bereavement) your contract may be extended by the period you need to complete your exams within the allowed number of attempts or to finish your approved work experience.
Why do I need a minimum number of UCAS points and at least an upper second class degree, when I have postgraduate qualifications that supersede these?
Amongst other things, we aim to recruit people that we feel have the best chance of passing their accountancy examinations. Research conducted by the ICAEW indicates that there is a strong correlation between degree class (irrespective of degree discipline) and ‘A’ level results and subsequent performance in the ICAEW’s examinations. There is much less correlation between postgraduate qualifications and examination performance.
What if I have a postgraduate degree but do not meet the other criteria?
We occasionally recruit Researchers to support our VFM studies on two year fixed term contracts. These posts, when they arise, are advertised on our website and in the national press. The minimum criteria required for these positions are stated in the advertisement and job description, and may be different from those required for our graduate trainee scheme.
What if I completed my education overseas and did not sit ‘A’ levels or obtain a UK degree?
Provided you meet our nationality requirements we are interested in those who have the overseas equivalent of 24 UCAS points, 300 under the new tariff, and an upper second class degree. You might be asked to provide evidence of this if we are unable to translate your qualifications to the UK equivalent.
What if I am already part ACA qualified or have other Accountancy qualifications?
Only in exceptional circumstances would we accept someone onto the graduate scheme who is already part way through professional accountancy studies. Amongst other factors, we would need to consider the reasons for an individual’s moving employers part way through studies and their examination record to date.
Do I have to be good at numbers and figure work?
An aptitude for figure work is desirable but the mathematical knowledge you demonstrated at GCSE or ‘O’ level is likely to be sufficient. In some cases, particularly those who have not taken numerate degrees, your maths might be a bit rusty. For this reason, we ask everyone to take a test of mathematical competence (TMC) at their preliminary interview. How well you do is another strong indicator of your performance in the accountancy exams, so if you do not achieve an acceptable score, your application will be rejected. To see some examples of the type of questions you will be asked in the test, click here.
Are there any locations apart from London available for the training?
Yes, we have an approved training office in Newcastle.
