Financial Risk Manager

Ways of Financial and Risk Management

ICAEW - Advanced Stage Module for ICAP Members

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The Advanced Stage consists of two Technical papers and a Case Study. Throughout the process you will be working and therefore able to apply your new skills direct in the workplace.

About the Advanced Stage

Students are encouraged to include relevant practical examples in your examination work from the outset, but it is in the Advanced Stage that you really focus on the technical and strategic skills needed to become a fully qualified ACA.

Skills needed

- Adopt a multi-disciplinary approach and demonstrate your ability to use judgement as well as highlight your technical skills.

- Apply classroom learning to the practical issues facing organisations (the IPD framework will help you do this).

- Consider genuine problems and come up with real-life solutions that manage both finance and risk.

- Good communication skills, business awareness, professional judgement and the application of technical accounting knowledge.

Breakdown of the Advanced Stage modules

1.Technical integration - Business Reporting

Financial and corporate reporting and accounting, audit and assurance, taxation, law and ethics. Apply technical knowledge and professional judgement to business scenarios to determine compliance solutions and a consideration of the alternatives.

2. Technical integration - Business Change

Demonstrate your understanding, planning skills and ability to give advice. Analyse and interpret internal and external financial and non-financial information covering taxation and law, business strategy, financial management, performance management and costing, financial and corporate reporting and accounting, audit and assurance and your grasp of ethics.

3. Case Study

Test your professional skills in the context of a specific business issue. Be challenged on multiple areas of the syllabus. The examination combines information given to candidates beforehand and impact information given on the day.

How long are the exams?

The Technical papers last 3.5 hours each. The Case Study lasts 4 hours.

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