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Overview of the role

Providing financial information and advice to different organisations.

Reference Number: ST0001

Details of standard

Occupation: Accountancy / Taxation Professional

Accountancy / Taxation Professionals are recognised around the world as respected leaders in accountancy, taxation, finance and business. From providing strategic business advice to audited financial statements or driving mergers and acquisitions, a career as an Accountancy / Taxation Professional can be diverse and challenging; it's not just about putting numbers into a spreadsheet. Accountancy / Taxation Professionals use technical knowledge, skills and experience to lead organisations and people to make responsible and sustainable financial decisions. They are required to act in the public interest and must therefore maintain the highest standards of professional conduct and competency; upholding ethical behaviour and integrity at all times.

Accountancy / Taxation Professionals provide financial information and advice to organisations of all types and sizes; from owner managed businesses to multi-national organisations; from private enterprises to public sector institutions, from entrepreneurs to charities. Examples of roles as an Accountancy / Taxation Professional include, but are not limited to, Financial Accountant, Management Accountant, Tax Accountant, Tax Adviser, Tax Specialist, External Auditor, Internal Auditor, Financial Analyst, Management Consultant, Forensic Accountant and Business Advisor.

Requirements:

A competent Accountancy / Taxation Professional will meet the following requirements. Given the variety of roles covered by this standard, the specific activities which can lead to these requirements being achieved may vary.

Knowledge

An Accountancy / Taxation Professional will be able to:

Assurance, Risk and Control

Provide a degree of assurance that stakeholders can trust information (financial and non-financial) regarding the organisation, as relevant to their role. In doing so, they will be able to exercise professional judgement and consider both risks and risk management approaches.

Business Acumen

Demonstrate knowledge of key business objectives and measurements of success.

Financial Information

Prepare, analyse and interpret an organisations financial information (both for internal and external purposes), as relevant to their role.

Legislation,

Understand, interpret and apply the legislation, standards and principles that apply to Standards and their role. This may include, but not be limited to, accounting standards, auditing Principles standards, taxation legislation, ethical codes and internal principles adopted by an organisation.

Strategic Business Management and Governance

Apply their judgement and make sustainable business decisions (including recommendations for good governance) using financial and non-financial information. Support strategic decision making with meaningful financial  analysis and project appraisal. Present a balanced conclusion, with supporting  evidence, which includes internal and external factors.

 

Skills

An Accountancy / Taxation Professional will be able to:

Building Relationships

Build trusted and sustainable relationships with individuals and organisations. Consistently support individuals and collaborate to achieve results as part of a team.

Business Insight

Influence the impact of business decisions on relevant and affected communities based on an appreciation of different organisations and the environments in which they operate.

Communication

Communicate in a clear, articulate and appropriate manner.  Adapt communications to suit different  situations, individuals or teams.

Ethics and Integrity

Identify ethical dilemmas, understand the implications and behave appropriately. Understand their legal responsibilities, both within the letter and the spirit of the law, as well as be aware of the procedures for reporting concerns over potentially unethical activities.

Leadership

Take ownership of allocated projects and effectively manage their own time and the time of others.  Demonstrate good project management skills to deliver high quality work within the appropriate timeline. Act as a role model and motivate others to deliver results.

Problem Solving and Decision Making

Evaluate information quickly and draw accurate conclusions. Assess a problem from multiple angles  to ensure all relevant issues are considered. Gather the appropriate facts and evidence in order to make decisions effectively.

 

Behaviours

An Accountancy / Taxation Professional will be able to:

Adds Value

Anticipate an individual’s / organisations future needs and requirements.  Identify opportunities that can  add value for the individual / organisation.

Continuous Improvement

Take responsibility for their own professional development by seeking out opportunities that enhance their knowledge, skills and experience.

Flexibility

Adapt approach to assist organisations and individuals to manage their conflicting priorities as circumstances change.

Professional Scepticism

Apply a questioning mind to conditions which may indicate a possible misstatement of financial information due to error or fraud.


Duration

It is anticipated that candidates will typically complete the Apprenticeship in 36 months but this may vary due to prior qualifications and relevant work experience.

Entry requirements

Individual employers will identify entry requirements in terms of previous qualifications, training or other criteria (typically A Levels or equivalent). 

Qualification requirements

Apprentices without English or Mathematics at Level 2 must achieve this prior to the completion of the End Point Assessment.

Link to professional registration

Completion of the Accountancy / Taxation Professional Apprenticeship will result in eligibility to apply for membership of one or more of the UK Professional Bodies below, subject to meeting the requirements expected by the regulator and/or the relevant regulations where chartered status is involved.

  • The Association of Chartered Certified Accountants (ACCA)
  • The Chartered Institute of Management Accountants (CIMA)
  • The Chartered Institute of Public Finance and Accountancy (CIPFA) 
  • The Chartered Institute of Taxation (CIOT)
  • The Institute of Chartered Accountants in England and Wales (ICAEW)
  • The Institute of Chartered Accountants of Scotland (ICAS)

Level

This is a Level 7 apprenticeship standard.

Review

The standard will be reviewed after three years to ensure that it is updated to reflect employer demand for changes in the syllabus.

 


Crown copyright © 2017. You may re-use this information (not including logos) free of charge in any format or medium, under the terms of the Open Government Licence. Visit www.nationalarchives.gov.uk/doc/open-government-licence

Status: Approved for delivery
Level: 7
Degree: non-degree qualification
Reference: ST0001
Approved for delivery: 7 November 2017
Route: Legal, finance and accounting
Typical duration: 36 months
Maximum funding: £21000
Employers involved in creating the standard: Baker Tilly, BDO, Costain, Dains, Deloitte, Government Finance Profession, Ernst & Young, Flemmings, Grant Thornton, Hall and Woodhouse, Harvey & Son, Hazlewoods LLP, Health Education East of England, Kingston Smith, KPMG, Lentells Chartered Accountants, London Borough of Barking and Dagenham, NHS Employers, PwC, Solid State Solutions, Warrington and Halton Hospital NHS Foundation Trust, Association of Accounting Technicians (AAT), Association of Chartered Certified Accountants (ACCA), Chartered Institute of Management Accountants (CIMA), Chartered Institute of Public Finance and Accountancy (CIPFA), Chartered Institute of Taxation (CIOT), Institute of Chartered Accountants in England and Wales (ICAEW), Institute of Chartered Accountants of Scotland (ICAS)
EQA Provider: Institute for Apprenticeships

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