In this section you can access guidance for Approved Employer targets relating to the Practising Certificate Development stream.
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.
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.
Do: Individuals are provided with support to enable them to meet their objectives.
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).
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.
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.
Plan: Individuals, principals and authorised supervisors are aware of the requirements for an ACCA practising certificate (and audit qualification).
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.
Do: Individuals are provided with sufficient / appropriate work experience pre and post membership in order to meet practising certificate (and audit qualification) requirements.
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.
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.
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.
Plan: Principals and authorised supervisors are qualified accountants and eligible to act in this position.
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.
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 relevant territories specified below
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) 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 |
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 2014 (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 |
Zimbabwe | A fully qualified company auditor under the law of Zimbabwe who practises as an auditor in the country |
A principal may delegate to an authorised supervisor the sign off of certain sections of the member's PCEF. The authorised supervisor is a qualified member of a professional accountancy body but does not need to hold an ACCA practising certificate or an ACCA practising certificate and audit qualifications, or be a practising member of any other professional accountancy body which is recognised for audit purposes. However, the principal must ensure that the authorised supervisor has the necessary qualifications and experience. The authorised supervisor must be a senior staff member in the organization, have knowledge of the individual's work and the training undertaken.