ACCA vs ICAEW: Key Differences in Syllabus, Duration, and Global Recognition

When faced with the mean task of choosing between two professional qualifications in accountancy, either ACCA or ICAEW, one can easily succumb in between the two. Both offer excellent career prospects for budding accountants.

Should I go for the ACCA or the prestigious ICAEW (ACA) qualification? This guide is meant for you. We will compare the syllabus structure, duration of both qualifications, and how they fare with respect to global recognition. 

Let us dive into the comparison of ACCA with ICAEW, discerning which path best suits your career aspirations.

What is ACCA and ICAEW?

ACCA (Association of Chartered Certified Accountants) is a globally regarded qualification that boasts over 241,000 members and counts more than 542,000 students from over 180 nations. The flexibility it offers makes it an excellent route for those wanting to work and study, or for those seeking an international career.

ICAEW is another institute that provides ACA qualifications. Many believe that this is one of the most prestigious qualifications in accounting in the UK and internationally. Over 200,000 members and students, specially known for being great in corporate finance, budgeting, and advisory.

Both these qualifications lead to senior finance roles, but they differ widely in approach, structure, and global standing.

Syllabus Comparison: ACCA vs ICAEW

ACCA Syllabus

The ACCA syllabus is designed to cover all aspects of accountancy; financial and management accounting, taxation, audit, and business strategy. There are three levels.

• Applied Knowledge – Covering core principles like accounting techniques and management accounting.
• Applied Skills – Covering more advanced subjects like performance management, financial reporting, and taxation.
• Strategic Professional – Deals with the advanced area of financial management, strategic business leadership, and optional papers such as advanced audit and tax.

The ACCA exams focus not only on technical accounting knowledge but also on the practical skills needed to face real-world scenarios. 

ICAEW Syllabus

The ICAEW exams for the ACA qualification are broken down into three stages:

1. Certificate Level – accounting, assurance, business technology, law, management information.
2. Professional Level – applying technical knowledge to real world situations in financial management, tax compliance, audit.
3. Advanced Level – building on prior learning with corporate reporting, strategic business management and a case study requiring practical application of all skills learnt.

A key feature of the ICAEW syllabus is practical experience, that’s why ACA students must complete 450 days of relevant work experience.

Duration: How Long Does It Take?

ACCA Duration

Time to qualify depends on your prior qualifications and study pace. On average students complete ACCA in 3-4 years. Students with relevant degrees (finance or accounting) can get exemptions for up to 9 exams and reduce the time significantly.

ACCA offers flexibility – you can study part-time alongside work or full-time study. The flexible exam sittings (quarterly and on-demand for some papers) also helps students to manage their time better.

ICAEW Duration

ACA qualification takes 3 years, as it’s often completed alongside a training contract with an ICAEW-authorised employer. This structured programme blends study, work experience and exams, so it’s slightly less flexible than ACCA.

Since students must complete 450 days of practical experience, the timeline is linked to employment contracts, so faster or slower completion may depend on the employer’s training structure.

Global Recognition: ACCA vs ICAEW

ACCA Global Reach

If your career goals include working internationally, ACCA has the global reach. With recognition in 180+ countries, ACCA members can find opportunities from London to Dubai to Singapore. This global presence makes ACCA perfect for those interested in international finance, multinational corporations and cross-border accounting roles.Plus partnerships with global professional bodies.

ICAEW Global Recognition

While ICAEW is well respected in the UK, its global reach is not as broad as ACCA’s. That said ICAEW-qualified chartered accountants are in demand in major financial Centres particularly in Europe, the Middle East and Asia.

ICAEW’s links with top accounting firms (the Big Four in particular) provide great career prospects in audit, corporate finance and advisory services especially for those looking to work in UK and Europe.

Cost and Accessibility

ACCA

• Registration fee: Around £89
• Exam fees: Varies by paper, from around £125 to £300 per paper
• Total estimated cost: £2,000 to £3,000 (excluding tuition fees)

ACCA is considered more affordable than ICAEW, especially for self-funded students. With online study options ACCA is a cheaper route to becoming a qualified accountant.

ICAEW

• Registration fee: Around £185
• Exam fees: £75 to £200 per exam
• Total estimated cost: £5,000 to £10,000 (often paid by the employer)

As ACA students often complete the qualification under employer sponsorship, they may not pay the full cost themselves but self-funding is more expensive than ACCA.

Career Prospects and Salaries

ACCA Careers and Salaries

ACCA leads to careers in:

• Management Accounting
• Internal Audit
• Financial Analysis
• Forensic Accounting

Thanks to the broad syllabus and global recognition ACCA-qualified salaries are competitive worldwide. In the UK ACCA-qualified professionals earn between £30,000 to £55,000, with experienced members and senior roles earning over £70,000. Global opportunities can push salaries even higher especially in financial Centres.

ICAEW Careers and Salaries

ICAEW (ACA) professionals often get roles in:

• Audit and Assurance
• Corporate Finance
• Tax Advisory
• Consulting

ICAEW’s reputation for tough training means ICAEW-qualified salaries in the UK are slightly higher than ACCA. Newly qualified ACAs earn £50,000 to £70,000, experienced professionals earn over £100,000 especially in London or top firms.

Which Qualification is for You?

Choose ACCA if…

• You want worldwide job opportunities.
• You like flexibility in study and exams.
• You’re self funding and want an affordable qualification.
• You’re interested in management accounting, forensic accounting, or internal audit.

Choose ICAEW if…

• You want a UK based qualification.
• You have a job with an ICAEW approved employer.
• You’re interested in audit, corporate finance, or advisory services.
• You want a training contract combining study and work experience.

Conclusion

Whether you choose ACCA or ICAEW, both are great career prospects in accounting and finance. The choice depends on your goals — do you want global mobility, flexible learning or a UK based qualification. If you’re still unsure, check out ACCA Courses to see the study structure or compare ACCA qualified Salaries to ICAEW to see the earning potential.

Either way ACCA and ICAEW exams are tough, rewarding and respected by employers worldwide. Choose the path that suits you best — your finance future awaits.