Practising Certificate Development target guidance

Introduction

In this section you can access guidance for Approved Employer targets relating to the Practising Certificate Development stream.

Setting objectives for ACCA practising certificate (and audit qualification)

Target

Plan: Individuals’ intentions towards training for an ACCA practising certificate (and audit qualification) are discussed and objectives are set as part of an appraisal process, if required.

Description

Approved Employers need to set trainees’ objectives and members’ objectives, if required, and document these as part of a performance review. Trainees and/or members must be clear on what they are expected to deliver in their role.

Support to meet objectives

Target

Do: Individuals are provided with support to enable them to meet their objectives.

Description

As an Approved Employer you need to be able to verify that trainees and/or members are provided with the opportunity to undertake activities that meet the ACCA practising certificate (and audit qualification) requirements.

You need to be able to clearly demonstrate that you have the people and processes in place that allow a trainee and/or member to work towards achieving a practising certificate (and audit qualification).

Re-assessment of objectives

Target

Review: Individuals training towards an ACCA practising certificate (and audit qualification) have their objectives re-assessed at least once every six months as part of a review.

Description

As an Approved Employer, you need to be able to demonstrate that where trainees and/or members are training towards an ACCA practising certificate (and audit qualification), their objectives are formally reviewed every six months.

Requirements for ACCA practising certificate (and audit qualification)

Target

Plan: Individuals, principals and authorised supervisors are aware of the requirements for an ACCA practising certificate (and audit qualification).

Description

ACCA trainees, members, principals and authorised supervisors must understand their roles and responsibilities in relation to a trainee and/or member training towards an ACCA practising certificate (and audit qualification).

As part of the application and monitoring processes, members will be required to verify their understanding of the practising certificate requirements.

Appropriate work experience

Target

Do: Individuals are provided with sufficient / appropriate work experience pre and post membership in order to meet practising certificate (and audit qualification) requirements.

Description

As an Approved Employer you need to be able to verify that trainees and/or members are provided with the opportunity to undertake activities that meet the ACCA practising certificate (and audit qualification) requirements.

You need to evaluate the practical experience that has been achieved and identify further development opportunities in areas where practical experience is still not sufficient.

Complete and review practising certificate training records

Target

Review: Individuals are required to ensure their practising certificate training records are completed and reviewed by their principal or authorised supervisor at least once every six months.

Description

As an Approved Employer you need to be able to demonstrate that where trainees and/or members are training towards an ACCA practising certificate (and audit qualification), their practising certificate training record is reviewed every six months.

Qualified principals and authorised supervisors

Target

Plan: Principals and authorised supervisors are qualified accountants and eligible to act in this position.

Description

A principal is defined as an appropriately qualified member of a professional body who has overall responsibility for supervising the training of up to 10 individuals towards ACCA’s practising certificates and acts as guarantor to ACCA that individuals have reached the required standards.

An authorised supervisor is defined as a qualified member of a professional accountancy body to whom the principal has delegated responsibility for reviewing and verifying ACCA training records for a practising certificate. This person does not need to be a qualified auditor.

However, the principal must ensure that an authorised supervisor has the necessary qualifications and experience. The authorised supervisor must be a senior staff member in the organisation, have knowledge of the individual’s work and the training undertaken.

Information about principals

A principal is defined as an appropriately qualified member of a professional accountancy body who has overall responsibility for supervising the training of up to 10 individuals towards ACCA’s practising certificates and acts as guarantor to ACCA that individuals have reached the required standards. 

Eligibility to act as a principal depends on the type of qualification, and the territory in which the qualification is valid.

Practising certificate valid in

Eligible principal

All territories

A member of ACCA who holds an ACCA practising certificate

 

or

 

A member of any other professional body that is recognised for audit purposes under prevailing legislation in the relevant country

 

or

 

A principal who is eligible to supervise training towards a practising certificate and audit qualification which is valid in the UK, Republic of Ireland, Cyprus or Zimbabwe

 

or

 

Any other person having, in the opinion of ACCA Council, adequate qualifications and experience

Practising certificate and audit qualification valid in

Eligible principal

UK (including Jersey, Guernsey and the Isle of Man) and the Republic of Ireland

A member of ACCA who holds an ACCA practising certificate and audit qualification

 

or

 

A fully qualified company auditor under the Companies Act 2006 (United Kingdom) or the Companies Act 1990 (Republic of Ireland) who holds an appropriate practising certificate with a recognised supervisory body

 

or

 

A company auditor practising in an EEA state, i.e. any EU member state or one of the following: Iceland, Liechtenstein, Norway or Gibraltar

Cyprus

A fully qualified company auditor under the law of Cyprus who practises as an auditor in that territory

 

or

 

A company auditor practising in member states of the European Union

Zimbabwe

A fully qualified company auditor under the law of Zimbabwe who practises as an auditor in the country

Information about authorised supervisors

An authorised supervisor is defined as a qualified member of a professional accountancy body to whom the principal has delegated responsibility for reviewing and verifying ACCA training records for a practising certificate. This person does not need to be a qualified auditor.

However, the principal must ensure that an authorised supervisor has the necessary qualifications and experience. The authorised supervisor must be a senior staff member in the organisation, have knowledge of the individual’s work and the training undertaken.