The ICAEW (Institute of Chartered Accountants in England and Wales), a leader in the accountancy and finance profession, has further strengthened its presence in the Middle East with a ceremony to honour recently qualified graduates of the ICAEW's prestigious and globally renowned qualification, the ACA.
The graduation ceremony took place at the Capital Club, Dubai International Financial Centre (DIFC), UAE on Sunday 7 February. It was attended by a high-profile audience, including the Right Honourable Lord Mayor of London, Nick Anstee FCA, the ICAEW President Martin Hagen FCA and a delegation from the British Embassy led by HM Consul General Guy Warrington, alongside other key stakeholders in the accounting and finance profession, such as members of the ICAEW Middle East Members Advisory Board and ICAEW authorised training employers and training partners in the region.
Speaking at the ceremony, the Lord Mayor of London Nick Anstee FCA, said:
"It is encouraging to see how the ICAEW is getting established in the region. I'm impressed with the great calibre of the graduates, whom I know have worked very hard to obtain the ACA qualification. It is exciting times to join the profession and I wish them all the best".
Among the newest graduates were Firas al Fadhili, the ICAEW's first Emirati graduate, and Sulaiman Bawany from Emirates NBD, the ICAEW's first graduate in the region to have undertaken his training with a non-accountancy firm. Among those celebrated were also two new members that have joined the ICAEW through an agreement with the Institute of Chartered Accountants of India (ICAI), Jeetendra Bhatia Udeshi and Manoj Joseph.
Amanda Line ACA, Regional Director, ICAEW Middle East, said:
"This first graduation ceremony in the Middle East is a landmark event and a very proud moment for the ICAEW. It is great to be able to celebrate that all the hard work our students - who've come into the profession through several different routes - have put into meeting the stringent requirements have paid off.
"The ACA qualification is a real career door opener. I wish all our graduates very successful and exciting onwards careers as chartered accountants, whether they end up working in business, for government organisations or for an accountancy firm."
The Associate Chartered Accountant (ACA) is a business and finance qualification that brings together technical knowledge, practical application, work experience and best practice. Training for the globally recognised ACA qualification has been available in the Middle East since 2007. The ACA provides graduates with skills and knowledge that allows them a wide choice of career options; members of the ICAEW typically work in senior positions across every business sector, government and public sector roles, as well as in all specialisms within accountancy.
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As a world leading professional accountancy body, the Institute of Chartered Accountants in England and Wales (ICAEW) provides leadership and practical support to over 132,000 members in more than 160 countries, working with Government, regulators and industry in order to ensure the highest standards are maintained.
Our members provide financial knowledge and guidance based on the highest technical and ethical standards. They are trained to challenge people and organisations to think and act differently, to provide clarity and rigour, and so help create and sustain prosperity. The ICAEW ensures these skills are constantly developed, recognised and valued.
Because of us, people can do business with confidence.
The ICAEW is a founding member of the Global Accounting Alliance with over 775,000 members worldwide.
The ICAEW opened a regional office, covering the Middle East, in Dubai in December 2009. The ICAEW has over 800 members and more than 175 students in the Middle East. Approximately 650 of the members are in the GCC, of which 420 are based in the UAE.
About the ACA qualification
The Associate Chartered Accountant (ACA) is a business and finance qualification that brings together technical knowledge, practical application, work experience and best practice.
The qualification comprises two stages: the Professional Stage and the Advanced Stage. The Professional Stage consists of knowledge modules which provide an introduction to the core concepts underpinning accountancy, and the application modules which demonstrate how this knowledge can be put into practice. The Advanced Stage consists of two integrated technical exams, requiring the student to apply their financial reporting, taxation, audit and assurance and ethics knowledge, and a case study.
Upon graduating, students are qualified to become members of the ICAEW and to use the designatory letters ACA after their name. After more than ten years as a member, members can apply for a Fellowship of the ICAEW, which allows the use of the designatory letters FCA.
Training for the ACA typically takes three-five years, depending on prior qualifications or entry route to the qualification. Students sign a training contract with their employer, which requires them to complete a minimum of 450 days of technical work experience in addition to the required exams.
Globally, there are more than 2,000 Authorised Training Employers (ATEs), including well-known names such as the Big 4 accountancy firms (Deloitte, Ernst & Young, KMPG, PwC), American Express, Barclays, Deutsche Bank, HSBC and Nomura.
There are 26 Authorised Training Employers (ATEs) in the Middle East, including Deloitte, Ernst & Young, KPMG, PwC, Mazars, Grant Thornton, Moore Stephens, BDO, Horwath Mak and Emirates NBD.
Tuition is run by Phoenix Financial Training in UAE and exams can be taken in UAE (Dubai), Bahrain (Manama) and Saudi Arabia (Riyadh).
Further details can be found on www.icaew.com/middleeast.
Media enquiries:
Preeti Chhatbar,
Hill & Knowlton:
tel +9714 33 44 930
email preeti.chhatbar@hillandknowlton.com
Kirstina Reitan,
ICAEW press office:
tel +44 (0)207 920 8607
email kirstina.reitan@icaew.com
© Press Release 2010
