ACCA unveils new qualification skills to shape accountancy profession
The Association of Chartered Certified Accountants (ACCA) has added an array of innovations to its Master’s level qualification, tailored to meet the strategic challenges of the 21st century’s disruptive economy.
ACCA’s latest innovations to the top level of its qualification are new Strategic Professional level exams, which will replace the existing Professional level exams in September 2018, and a new Ethics and Professional Skills module, which will be introduced in October 2017.
The new ground-breaking design for its qualification draws on an extensive, two-year review and consultation with members, employers and learning providers.
The redesigned skills focus more on employability and the practical application of core skills in the contemporary workplace such as Strategic Business Leader, an innovative case study exam, based on a realistic business scenario. There is also the Strategic Business Reporting, a new exam exposing students to the wider context of finance and business reporting. The module equips them with the vital skills needed to explain and communicate to stakeholders the implications of transactions and reporting and an Ethics and Professional Skills module, which makes modifications to the existing ethics module.
Commenting on the achievements, Head of ACCA Nigeria, Mrs. Toyin Ademola, said the ACCA Qualification will give students forward-thinking strategic abilities and advanced skill-set required of modern professional accountants, who will shape the future of global business.
Ademola said: “We’re delivering a qualification that meets the demands of professional accountants in the 21st Century, while maintaining the rigorous standards of technical, ethical and professional skills that has established ACCA as the international benchmark for accountancy qualifications. These measures are important as they will ensure the rigour and relevance of the qualification remains central to ACCA’s offering in emerging as well as established, markets.”
She added that the new emphasis for the qualification is a major step forward into the future of accountancy, saying: “these developments are significant evolution to the qualification which reflects the changing role of accountancy professionals. Increasingly, accountants are called upon to demonstrate that they are strategic forward-thinkers as they play senior executive roles in business.
“As an organisation with a reputation for innovation, vision and leadership in the profession, we’ve responded accordingly with a qualification that offers the complete and essential blend of technical and ethical accounting competencies mixed with strategic leadership and professional skills required to turn students into the confident, inspiring and trusted business partners that employers need,” she said.
Ademola emphasised the thoroughness and rigour of the association in planning the changes, noting that ACCA’s stakeholders will continue to play a part in how the qualification is delivered in the future.
“We have listened carefully to not just what current professionals and employers think are essential skills in the here and now, but we’ve also carefully considered what will be vital attributes in the professional accountants of the future, to 2020 and beyond”.
According to her, the ACCA qualification is the only professional accountancy qualification which combines local relevance with international best practice. This means that our members are able to work at the highest level in any industry in any sector. In a globalised world this unique feature offers a real edge and benefit to employers.
‘It also means that we can draw on the insight and expertise of members and stakeholders in maintaining the direct relevance of our qualification for the contemporary workplace,” she added.
“We’ve incorporated the most relevant and forward-thinking skills into our exams. We will also provide the essential learning support to ensure our students achieve success in their exams and careers,” she said.