The new way to qualify as a professional accountant: Level 7 Accountancy/ Taxation Professional Apprenticeship Standard

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Logan Austin
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1 1 The new way to qualify as a professional accountant: Level 7 Accountancy/ Taxation Professional Apprenticeship Standard

2 2 3 Level 7 Accountancy/ Taxation Professional Apprenticeship Standard At BPP we fully support the brand new way to qualify as a professional accountant. We believe it is a significantly improved way to satisfy the needs of employers and trainees. Apprenticeship Standards for the accountancy sector. There are currently three standards in the accountancy sector: Level 7 Apprenticeship overview Not only can studies be accessed at any level throughout an accountancy career, but trainees Assistant Accountant (Level 3 - equivalent to A-levels) Year 1 Year 2 Year 3 can continue to study from recognised routes without any interruption. Importantly, employers can fund the new way to gain professional qualifications through their Apprenticeship Levy or by claiming 90% back from the government. Add to this a requirement for trainees to develop Professional Accounting/Tax Technician (Level 4 - equivalent to the first year of an undergraduate degree) Accountancy/Taxation Professional (Level 7 - equivalent to a Master s degree) Professional Qualification PQ Knowledge sessions. Apprentices will complete professional exams for their chosen qualification. vital workplace skills and you have an excellent apprenticeship programme. Skills & Behaviours Introduction Phase 1 Understanding Familiarisation with the Skills & Behaviours requirements Phase 2 Planning Reflect on current Skills & Behaviours, understand and plan for development and demonstration Phase 3 Identify, develop and demonstrate Demonstrate learning and development throughout the programme, prepare for End Point Assessment requirements End Point Assessment Skills seminar 1 Skills seminars 2 and 3 Submission of development evidence On programme support Proactive and reactive support throughout programme. Half-yearly reviews carried out with line manager, apprentice and BPP.

3 4 5 Relevant to the whole accountancy sector - at every level Ensuring trainees qualify faster, with more structure, utilising available funding. Entry points for existing staff and new recruits Ensuring faster qualification, with more structure. 18-month route 24-month route 30-month route 36-month route BPP is part of the Trailblazer group who has designed the new Level 7 Accounting Apprenticeship Standard. Working with employers and institutes, the standard is designed to ensure your trainees develop the relevant Knowledge, Skills & Behaviours needed to succeed and progress in their roles within your business. The standard aligns with existing professional qualifications and uses an innovative and flexible approach to demonstrating competency. On a practical level, apprentices will learn how to apply the knowledge gained through their professional qualification to their working day. Perfect financial sense. The apprentice follows the Level 7 Accountancy/ Taxation Professional training path at no personal cost. The employer can either access funding via the Apprenticeship Levy or by claiming back 90% of the cost through a government scheme. You can make savings too by not having to pay employer National Insurance for apprentices. Relevant to the whole accountancy sector at every level. Employees at any stage of their career can benefit from this apprenticeship: gaining a professional qualification whilst developing on a practical level to contribute to the success of your organisation. From entry level recruits on a graduate or school leaver program, through to those who have already completed some of their professional qualification training, you can tailor a programme of apprenticeship training that suits both an individual apprentice and your wider business requirements. Complements all of the current accountancy training routes. The beauty of this new apprenticeship is that it can be adopted by anyone following a recognised route, regardless of the stage they are at within their studies. Guarantees excellent all-round development at a practical level. By having guidelines in place that require 20% of an apprentice s time is dedicated to development, the employer gets a more well-rounded, multiskilled employee. Apprentices can be confident that you are truly investing in them and their future. The majority of the 20% stipulation consists of attending professional qualification courses and increasing valuable skills. Months: Where do I start? Whether your employees are part way through a professional qualification or just about to start, BPP has an apprenticeship programme to suit your needs. 36-month route - CIMA BA1-BA4, ACCA F1-F3, ICAEW Certificate Level 30-month route - CIMA Operational Level, ACCA 6 Skills Papers, ICAEW 6 Professional Level Papers 24-month route - CIMA Management Level, ACCA 3 Skills Papers, ICAEW 3 Professional Level Papers 18-month route - CIMA Strategic Level, ACCA Professional Level, ICAEW Advanced Level

6 7 Who is eligible? Professional qualifications Ensuring technical knowledge. The following professional qualifications are available as part of this apprenticeship.

The Level 7 Apprenticeship complements our innovative professional qualification training and is suitable for new recruits or trainees part way through their studies.

4 6 7 Who is eligible? Professional qualifications Ensuring technical knowledge. The following professional qualifications are available as part of this apprenticeship. The programme has been designed to align with the apprentice s role and leads to significant and valuable new knowledge and skills. The Level 7 Apprenticeship complements our innovative professional qualification training and is suitable for new recruits or trainees part way through their studies. Key eligibility criteria include: The potential apprentice will need to have English and Maths to GCSE level and they will need to provide certificates. If they have not reached these levels or do not have these certificates, BPP can help Apprenticeships cover a wide range of levels and initial discussions are designed to find the right programme at the right level for every potential apprentice Business leaders and managers should be proactively discussing apprenticeship opportunities with their team members as part of their development discussions An apprentice can undertake any programme level - including those below, above or at the same level as a qualification they already have. However, it must help them to learn new skills and the training must be significantly different to any previous development The table below shows the similarities and differences between completing professional qualification training and the Level 7 Apprenticeship: Professional qualification only Level 7 Apprenticeship Professional qualification courses Skills & Behaviour development EPA (End Point Assessment) Funding available

8 9 Support Funding Ensuring progression. Cost-effective training. The BPP Performance Support Team offers a data driven service that can track how well an apprentice is progressing.

5 8 9 Support Funding Ensuring progression. Cost-effective training. The BPP Performance Support Team offers a data driven service that can track how well an apprentice is progressing. This means that we can personalise the support we offer and provide proactive interventions to ensure each apprentice is succeeding and on-track. The team will also review and provide feedback on the work that needs to be submitted as part of the Apprenticeship Standard. Core support for an apprentice comprises: The feedback will be focused on ensuring your apprentices are not only preparing for their End Point Assessment (EPA) but also encourages reflective development of their acquired Skills & Behaviours. Regular progress reviews will ensure your apprentice is motivated, engaged and prepared for success. Each new Apprenticeship Standard will be awarded a funding cap. Levy payers can pay for the programme through their digital account. Non-levy payers are eligible to receive 90% funding through co-investment with a government backed scheme. Therefore trainees are able to gain a professional qualification at a fraction of the traditional cost. Funding cap: 21,000 Induction support On programme support End Point Assessment support On boarding Induction information Introductory sessions Regular 1:1 progress reviews Monthly MI KSB feedback and support Proactive engagement Gateway review EPA booking EPA support Virtual Learning Environment (VLE) Learning support Knowledge tuition Learner community We use BPP for all our professional qualifications. They understand us as a business and provide a high standard of tuition and service. It therefore makes perfect sense to use BPP for our apprenticeship students as well. National Training Manager RSM UK Group LLP

10 11 Frequently asked questions Ensuring you have the answers. What else, other than the professional We have our own internal training qualification, is involved in an apprenticeship?

6 10 11 Frequently asked questions Ensuring you have the answers. What else, other than the professional We have our own internal training qualification, is involved in an apprenticeship? programmes that we believe cover off the It is more than just professional qualifications. You may have had team members studying Skills & Behaviours, can we just use these instead of BPP s content? for professional qualifications (outside of an Yes, our content will still be made available apprenticeship) in the past. Apprenticeship to you if you choose to complement your programmes add an extra dimension internal training. by requiring the apprentice to apply the knowledge gained through a professional What support do I need to give my apprentice? qualification in the workplace, as well as develop the required Skills & Behaviours, helping to embed that learning. This means your apprentice is truly contributing to your team and the wider business. How is the Level 7 Accountancy/Taxation Professional Apprenticeship structured? Every apprenticeship programme, regardless of the business area, role or discipline the apprentice is in, is structured around these key areas: Knowledge, Skills & Behaviours. The Knowledge will be gained through the professional qualification and the Skills & Behaviours will be developed in the workplace with content and support from BPP. The goal is an End Point Assessment, which independently assesses that they have gained these required levels deemed necessary to be an accounting or tax professional. Further details about the programme can be found on our factsheet. Successful apprenticeships are partnerships. Supporting the apprentice on your team should be a great experience for you as well as for them. It will need some planning ahead so that you can both get the most from it and BPP will use its expertise to support both you as a manager and your apprentice. Does an apprentice need to spend 20% of their time on off-the-job training? Yes. An apprenticeship has to allow 20% of the apprentice s time to be devoted to development. This time is made up by a combination of formal study and off-the-job experience. It is important that the 20% development time required is viewed in a positive way across the team, especially as apprentices may be out of the office for one day each week. However there are many training options that mean the trainee can remain in the workplace. BPP has created a breakdown of how the 20% is met on each of its apprenticeship programmes, I have a trainee who has already started professional qualification training, can they convert on to an apprenticeship? Yes, there is an entry point for everyone, regardless of prior learning or exemptions. What about the Practical Experience Requirement (PER)? Although not part of the apprenticeship, each institute will still have their own PER. The apprentice will be encouraged to fulfil these requirements alongside their apprenticeship. What paperwork is involved? BPP will support you every step of the way to ensure you have all the information you need and we have a dedicated team to help you with this process. Does BPP offer accounting apprenticeships for school leavers? Yes. In addition to Level 7, BPP also offers the Level 3 Assistant Accountant and Level 4 Professional Accounting/Tax Technician Apprenticeships. More information available on our factsheets. the majority of which will be covered by the professional qualification training.

7 12 13 Next steps Let us guide you through the next stages of planning your apprenticeship training. Recruitment Full programme details Start dates Levy and funding Upcoming events Apprenticeship insights Other apprenticeship programmes Book now For more information on how your business could benefit from the Level 7 Accountancy/Taxation Professional Apprenticeship, please phone or corporate@bpp.com Alternatively, for further details, webinars, insights and FAQs visit employers.bpp.com

8 Why do an apprenticeship with BPP? Ensuring success Our expertise in professional apprenticeships across accounting, taxation, actuarial, financial services, business and law First large tuition provider to offer Level 4 Professional Accounting/Taxation Apprenticeship Already offering Level 7 apprenticeships for other professions Employers already trust us to deliver their apprenticeships including RSM, BDO, KPMG and Mazars Award winning professional qualification programmes and modes of study Consistently higher than institute average pass rates BPP University Limited BPP Professional Education Limited

PROFESSIONAL ACCOUNTING/TAX TECHNICIAN APPRENTICESHIP

Level 4 PROFESSIONAL ACCOUNTING/TAX TECHNICIAN APPRENTICESHIP DELIVERED BY HTFT PARTNERSHIP Apprenticeship Levy The Apprenticeship Levy is a levy on UK employers to fund new apprenticeships. If you have