Pathways to Membership. Examination of Experience BUSINESS WITH CONFIDENCE. icaew.com
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1 Pathways to Membership Examination of Experience
2 Agenda Who is this route to membership for? Sponsorship What do you have to do to apply? What is the Examination of Experience? General approach to the Examination of Experience A review of each question Help and guidance available Your questions
3 Who is this route to membership for? Qualified, experienced members of ACCA, CIMA, CIPFA, MICPA (Malaysia), AICPA (America), CPA (Australia), HKICPA (Hong Kong) and ISCA (Singapore) Live and work outside the UK >5 years membership AND post-qualification experience Membership through normal education and training route Good disciplinary record Comply with that professional body s CPD Must get a letter from your professional body stating you are a member in good standing
4 Sponsorship Sponsor must fit into one of these three categories: An ICAEW member who has known the applicant for at least 3 years and has detailed knowledge of the applicant s work by having worked closely with the applicant for at least 3 out of the last 5 years A mentor cannot act as sponsor (unless above criteria met) A member of a body with which ICAEW has a current reciprocal membership arrangement (CAI, CICA, HKICPA, ICAA, ICAS, ICAZ, NZICA, SAICA) and has detailed knowledge of the applicant s work by having worked closely with the applicant for at least 3 out of the last 5 years and has gained this membership through normal education and training route
5 Sponsorship (continued) Sponsor must fit into one of these three categories: If applicant works in an ICAEW authorised training employer (ATE), the QPRT (qualified person responsible for training) or PRT (person responsible for training) who is responsible for the office where the applicant works can be sponsor Doesn t have to know / have worked with applicant Must be of good standing, so if not an ICAEW Chartered Accountant, must provide a letter of good standing from the body that qualifies them to serve as sponsor QPRT/PRT must have been in that role for at least 12 months Full sponsor criteria in application form / on website
6 What do you have to do to apply? Review and complete the application pack If you work in practice, you must apply for an ICAEW practising certificate Answer the questions in the Examination of Experience and provide the mandatory information Sponsor must complete the relevant form in the application pack Pay the relevant fee covers the membership admittance fee and the current year s annual subscription
7 What is the Examination of Experience Part 1 - applicants must reflect on their experience and achievements over the past 5 years and provide specific examples to demonstrate their professional skills and expertise to answer the set questions Part 2 brief summary C.V. for at least the last 5 years Part 3 description of jobs/roles and responsibilities referenced to answers given in Part 1
8 General approach Guide size for answers = 3,000 words About 1 typed page per question, font = Arial size 11 5 marks are awarded for good format and language 5 marks are awarded for use of recent experience Each part of a question has 10 marks available Must score at least 55 marks If score is between 55 and 60, can only fail one question Say I, me or my, don t use the third person
9 Question 1 Using your recent work experience, describe how you identified two different business and/or technical financial issues It is all about the HOW rather than the what You must describe your approach, explain your processes Focus on how you identified the issues rather than the outcome of the identification
10 Question 2.1 Using your recent work experience, describe how you have used technical expertise and/or business knowledge to analyse a business situation Again it is all about the HOW rather than the what State what the technical expertise and business knowledge used was Clearly explain the analysis undertaken rather than the outcome of the analysis
11 Question 2.2 Using your recent work experience, demonstrate how you have used numerical techniques to analyse a business situation Again it is all about the HOW rather than the what State what the numerical techniques used were, e.g. financial statement analysis, budget reviews, valuation models Clearly explain the analysis undertaken rather than the outcome of the analysis
12 Question 3.1 Using your recent work experience, describe how you have used professional judgement in choosing between options Again it is all about the HOW rather than the what State what the different options were Explain clearly how you applied professional judgement to decide what the options were and which were best
13 Question 3.2 Using your recent work experience, describe how you have applied professional judgement to prioritise issues Again it is all about the HOW rather than the what State what the issues were Explain clearly how you applied professional judgement to decide which were most important Show the prioritising criteria
14 Question 4 Using your recent work experience, describe two situations where you utilised your technical knowledge and/or practical experience to develop commercial advice State the technical knowledge or practical experience used Explain clearly how it helped you develop the advice and why it was relevant
15 Question 5 Using your recent work experience, demonstrate how you dealt with an ethical issue Use a real life example, that you had a high level of personal involvement with Do not state your, your organisation s or your profession s approach to ethical training Explain what you did, what you had to think about, what action you took Only one example is required
16 Help and guidance available Pathways website - Guidance from examiners Sample Examination of Experience papers Webinar recording FAQs on the website Guidance for sponsors on website Pathways helpline +44 (0) or pathways@
17 Where to send application Send your completed application pack recorded delivery to: Income and Credit Manager Room 29 ICAEW Metropolitan House 321 Avebury Boulevard Milton Keynes MK9 2FZ UK Keep a copy for your own records. Must arrive by deadline date.
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