The Institute of Chartered Accountants in England and Wales (ICAEW) has updated its Associate Chartered Accountant (ACA) qualification to better equip finance professionals for a tech-driven and sustainability-focused business environment.

ICAEW said that the latest updates reflect the need for chartered accountants to possess relevant skills to effectively support and lead organisations.

The revised ACA qualification incorporates elements of technology, sustainability, and ethics into its syllabus, allowing for a more personalised approach to meet the individual development needs and interests of students.

ICAEW chief executive Alan Vallance said:  “Our first students took their exams on Monday morning, and they’ll go on to be the first to complete this new dynamic qualification and become the leaders of tomorrow – facing complex challenges, embracing opportunities and driving change in an evolving world.”

A notable feature of the updated ACA is the inclusion of a sustainability and ethics module at the Certificate Level, ensuring that these topics are introduced early in the curriculum.

This module focuses on integrating non-financial reporting with financial metrics and covers essential ethical principles.

Another significant modification is the introduction of ‘Specialised Learning’ as a core aspect of the qualification.

Students are now required to complete a minimum of 30 units of Specialised Learning during their training, which typically involves an hour of study on specific topics, facilitated through new e-learning resources.

The updated ACA offers a range of online courses categorised into four areas: technical, sector-specific, professional skills, and emerging issues and updates.

Additionally, ICAEW has revised its approach to professional skills within the ACA, now encompassing 25 different skills across five key competency areas: communication, critical thinking, emotional intelligence, leadership, and professionalism.

ICAEW Education and Training managing director Will Holt said: “Our aim is to empower employers to hold holistic and valuable development conversations with students and drive career longevity through transferable skills, such as communication, critical thinking and leadership.

“The Next Generation ACA is not simply an accountancy qualification – it provides the foundation for a life-long career. It has been created to provide knowledge and skills that chartered accountants can build on to evolve with the needs of employers, clients and the broader economy.”