What is BFP?
ICAEW Business and Finance Professional (BFP) is an internationally recognised professional designation from one of the world’s leading membership organisations.
These letters are a stamp of professional recognition, demonstrating that you meet the standards of a membership organisation.
Similar to our members, ICAEW Business and Finance Professionals need to demonstrate their commitment to their professional development. In order to do so, they have access to a variety of exciting resources and benefits.
With the BFP status, professionals demonstrate that they have a solid understanding of how businesses operate and that they meet the ICAEW standards relating to technical knowledge, business skills and ethics.
Professional recognition and ongoing support and advice from a world leading professional membership organisation.
Enhances employability by demonstrating up-to-date technical knowledge and commitment to ongoing professional development.
Demonstrates compliance with an internationally recognised Code of Ethics.
Provides access to specialist management and personal development content.
Tailored online training programmes in Microsoft Excel.
Access to latest accountancy, business and economic news.
What are the requirements?
The BFP designation combines technical knowledge with work experience and an understanding of ethics. There are three requirements you have to meet to become an ICAEW Business and Finance Professional (BFP):
• ICAEW CFAB
The ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB) is an internationally recognised qualification comprised of six modules covering the essentials in finance, accounting and business.
There are no minimum entry requirements to do the ICAEW CFAB qualification which is your first step to becoming an ICAEW Business and Finance Professional.
• Work experience
To apply for the designation you will have to demonstrate 12 months’ work experience in a business and/or finance role. This will need to be properly signed off and you will need to you have acquired the essential business skills listed. If you don’t yet meet this requirement, you can still start your BFP student journey and complete your work experience at a later stage and before you apply for the designation.
• Ethics Learning Programme
Organisations value employees who have a solid understanding of ethics. With this online programme, you will get to grips with our ethical framework and practise how you would respond to an ethical situation. This means that as a BFP, you will be able to demonstrate compliance with an internationally recognised Code of Ethics.
What are the benefits of the BFP subscription?
In addition to the prestige associated with the BFP designation, ICAEW Business and Finance Professionals also have access to a wide range of resources to support them in their personal and professional development. Here is an overview of what is included:
• The designatory letters BFP: Using these can help you demonstrate your status and recognition from a membership organisation.
• Management and personal development resources: Online and interactive resources from the Chartered Management Institute on management and personal development theory.
• Business and finance refresher: An A-Z of reference materials covering a wide range of finance, accounting and business topics.
• Microsoft Excel training and community: A suite of online Excel training modules, a personalised training plan, model spreadsheets and video tutorials.
• Your chosen technical specialism: Tailored technical content that’s most relevant to your current job or chosen future career.
• Helplines: One-to-one, free and confidential help from ICAEW’s technical advisory and ethics helplines, as well as support from ICAEW’s library research team.
• Newsletters: Business, finance and accountancy news
• Lifestyle discounts and offers: A range of discounts and offers from high street and online retailers.
How do you become a BFP?
Sign up for the ICAEW CFAB
If you’re new to ICAEW, your first step will be to sign up for ICAEW CFAB. You will then have access to the six exam modules, so you can start studying for the qualification and gain essential business knowledge. If you are already an ICAEW student, currently studying for ICAEW CFAB or the ACA, you can skip this step and go straight to step 2.
Register as a BFP student for free
Using your ICAEW student number, you can register to start the BFP journey for free. This will provide you with access to the Ethics Learning Programme and allow you to send over your 12 months’ work experience so you can tick off two of the requirements.
Apply for the BFP designation
Once you have completed ICAEW CFAB, passed the online Ethics Learning Programme and had your work experience properly signed off, you may apply for the designation.
Become a BFP
After you submit your application, ICAEW will assess and send you confirmation of your BFP status if approved. This means that you will be able to call yourself a BFP and demonstrate that you have gained professional recognition from an international membership organisation.
To become a BFP and retain your title, there’s a one-off registration fee of £25.
The annual subscription fee is £125, or £50 if you’re earning less than £28,028 p.a.
Existing ICAEW members who only want to use the BFP designation do not have to pay the annual subscription fee.
I developed my interest in accountancy and numbers since young. My mother works in the field and she would always share her experiences, challenges and successes at work with me, and that inspired me to do what she does.
Winning the world prize was never on my mind. All I thought of was doing the best I can. I’ve always believed that when you work hard, you will be luckier.
– Ng Yi Sze, Sunway TES Centre for Accountancy Excellence
The ICAEW approved tuition providers
in South-East Asia
There are many ICAEW approved tuition providers located in Indonesia, Malaysia, Singapore and Vietnam to provide tuition and study support to our students.
To locate a tuition centre in a city nearest to you, click here
Contact ICAEW Asia for more information regarding the ICAEW Business and Finance Professional designation.