Last month, the President of CPA Ireland, Mark Gargan, communicated with all members of CPA Ireland on the proposal that CPA Ireland will amalgamate with Chartered Accountants Ireland.
The details of this proposal are on the CPA Ireland website here.
The objectives of a proposed amalgamation are to:​
- Support the profession in Ireland more efficiently with combined scale and resources​.
- Serve the public interest by ensuring the highest standards of regulation and independent professional advice.
- Simplify the accreditation and designation process for the accounting profession in Ireland.
- Increase the influence of the accounting profession in Ireland.
- Offer a more enhanced member proposition which would attract new candidates for the qualification and provide more contemporary and accessible service for existing members.
Education/Qualification
- Combining the recognition and strengths of CPA/FCPA and ACA/FCA creating a powerful qualification with dual designation, benefitting members and students.
- The dual designation will offer wider market access for members building on mutual recognition agreements, to enhance the recognition of Irish accountancy qualifications abroad.
- A single body will ensure one high standard of education for all trainees, enhancing skill level of all students completing professional accountancy exams in Ireland.
There is a detailed FAQ developed in relation to Education and Training here.
For your ease the FAQs that apply to CPA Ireland students are copied below:
Are the education standards in each Institute comparative?
The establishment of IAASA provided a common standard for the education of accountants in Ireland. Both CPA Ireland and Chartered Accountants Ireland have been overseen by IAASA for the best part of two decades and are required to meet the same educational standards. Both bodies are engaging with QQI on the proposed Listed Awards Body process which envisages both qualifications being aligned at Level 9 (post graduate level).
How will you ensure the quality of education standards after amalgamation?
Both Institutes have recently jointly reviewed the examination syllabi and have identified significant commonality. Both Institutes are satisfied that both bodies are aligned on the educational standards demanded of our student members. Significant syllabus research has recently been concluded on the future skills of accountants and this will inform future syllabus development.
What Designation will be adopted?
The Chartered Accountants Ireland qualification will be adopted, however there will be dual designation with members able to use ACA/FCA and CPA/FCPA designations. Dual designation will increase member access to global markets, benefitting members and students.
How will education be delivered?
Each Institute uses a specific model of delivery. Chartered Accountants Ireland has its own online delivery, supplemented by limited face to face teaching. CPA Ireland partner with leading educators such as MTU and Griffith College to deliver its educational programme. If members approve the amalgamation, the CPA Ireland Strategic Level arrangement will continue for a period of three years. CPA Ireland Foundation and Professional Level students will be enabled to convert to the Chartered programme in a timely manner with the aim of making this transition as smooth as possible.
How will exams be delivered?
Both Institutes use the same examination platform, Cirrus, with an agreed development pathway. This should make the process of amalgamation easier.
Final Year Students - how will they be designated?
Existing CPA Strategic Level students sitting their final exam, will be allowed see out their studies within the existing curricula and receive ACA and CPA upon completion of their studies.
What will be the training duration requirements?
There are no plans to shorten the current 3.5 year training duration requirement for students to qualify as chartered accountants. Currently CPA Ireland graduates typically apply for membership after a period of at least 3.5 years.
What training documentation will be required?
Both Chartered Accountants Ireland and CPA Ireland require students to document their training experience and achievement of the required competencies. This will continue for students. Opportunities to streamline and simplify these requirements will be progressed over time.
What impact will this have on students currently studying?
Existing CPA Strategic Level students sitting their strategic exam will be allowed see out their studies within the existing CPA Ireland curricula and exams. (A three-year window is envisaged to allow CPA Ireland students to complete their studies.)
All new and existing CPA students at Foundation and Professional levels will transition to the chartered education programme.
The next stage in this process is a Vote in principle on the amalgamation proposal by the members of CPA Ireland and Chartered Accountants Ireland. This vote is scheduled in both organisations for 21 February 2024.
For 2024, CPA Ireland will deliver examinations as normal in April and August and as a CPA student, this amalgamation proposal should not distract you from preparing to take your next stages in the CPA examinations. The results processes for the April and August examinations will continue to apply in accordance with CPA existing timelines. The results of the August 2024 examinations will be issued on 11 October 2024. If the amalgamation proceeds, it is anticipated that students who have sat exams in August 2024 will transition after the results have been issued.
Likewise, and very importantly, you should bring your online training records up to date and CPA Ireland staff will be in ongoing contact with you on this issue.
Very shortly after the vote in principle on 21 February, we will communicate again in further detail for all CPA students. We will also communicate with CPA Educators throughout this process.
Every success in your studies and examinations in 2024 and please, where applicable, bring your training records up to date.
Mark Gargan
President, CPA Ireland
On Behalf of the Council of CPA Ireland