What is ICAEW CFAB?
ICAEW CFAB is a certificate that provides you with essential knowledge in finance, accounting and business, and is recognised by organisations all over the world.
It is open to everyone and it is flexible around your current schedule.
The exams can be taken in any order at many exam centres around the world.
Upon completion, you will receive your ICAEW CFAB qualification certificate. It will give you an impressive-looking CV and show employers you have the job-essential skills they are looking for. It can help increase the roles you can apply for. It also provides skills that are invaluable for any start-up business.
If you have previously or are currently studying a relevant qualification you could be eligible for exam exemptions for some of the ICAEW CFAB exams. This means you may not have to sit all of the exams to gain the qualification.
Why ICAEW CFAB?
- Understanding of the key elements of finance, accounting and business,
- Understanding of the wider business issues,
- Helping individuals talk the language of finance,
- Appreciating the main factors linked to business success or failure,
- Understanding of the key decisions that businesses and management teams have to make on a day-to-day basis,
- How to monitor business risk and evaluate business performance, and
- Providing the skills to help individuals write a business plan, prepare their own personal tax statements and manage their finances more confidently.
At a glance
Choose from various methods of learning that best suits your schedule and budget:
How is ICAEW CFAB structured?
ICAEW CFAB consists of six modules. Each one focuses on a key aspect of finance, business or accounting, giving you practical insights and knowledge that will help you in your career.
The six exams which are the first six modules of the ACA qualification cover:
- Business, Technology and Finance
- Management Information
- Principles of Taxation
The exams are computer-based and taken at one of our approved test centres. This means that you can take your exams at any time of the year (subject to centre availability). As you pass each module, ICAEW will send you a certificate of achievement. Once you have completed all six modules, you will receive your final ICAEW CFAB qualification certificate.
Exam exemptions or credit for prior learning (CPL) is available if:
You are studying for, or already hold a recognised university degree that contains components in business, finance, accounting or law, or you are studying for, or already hold a relevant professional accountancy qualification (eg, CPA, ACCA etc).
If you are eligible for exam exemptions at the ICAEW CFAB, it could mean that you just need to study for and sit a few of the exams to gain the ICAEW CFAB qualification. Find out more on the CPL directory: https://apps.icaew.com/cpldirectory
What can I do next?
After completing ICAEW CFAB you have a number of options available to you.
You can complete additional requirements to secure ICAEW Business and Finance Professional (BFP) status.
You can also register to study the ACA and complete the remaining nine ACA exams and additional requirements to qualify as an ICAEW Chartered Accountant.
How do you become a BFP?
Find your route
Becoming an ICAEW Chartered Accountant has never been more accessible. Options to complete elements of the ACA qualification include: ICAEW apprenticeships, undergraduate degrees, postgraduate qualifications, ICAEW Certificate in Finance, Accounting and Business and joint programmes with other professional bodies.
Finding an employer
To complete the ACA you must complete 450 days of work experience at an ICAEW authorised training employer (ATE). There are c5000 ATEs offering ACA training agreements, includiang accountancy firms of all sizes, private businesses and public sector organisations.
Register as a student
To start the ACA qualification you must register with ICAEW as a student. The majority of students do this once they have secured a training agreement, but it is also possible to register and begin studying the ACA before you have found an employer. Learn more about the registration process.
Apply for credit for prior learning
Those who have already completed a qualification in accountancy, business or finance, might be entitled to exemptions from one or more of the ACA modules. A full list of eligible qualifications and information on how to apply for credits is available on our CPL directory.
Complete the four elements of the ACA
To successfully achieve the ACA qualification you must demonstrate that you have: completed 450 days of work experience at an ATE; passed 15 exam modules; undertaken professional development; and have advanced your ethical understanding and professional scepticism.
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
Find out how the ICAEW Certificate in Finance Accounting and Business (CFAB) has helped our students and graduates boost their CV and open doors to career opportunities.
“The CFAB qualification gave me a broad and robust perspectives surrounding business and finance and ultimately, provided a proper step up system toward the full ACA qualification. What I really enjoy about being an ICAEW student was the regular student events where I meet with other students. Finding a job will be much easier with ICAEW certification as there are many employers who recognise this certification.”
“Front-loading is a new concept to be efficient in our studies. As an accountant, obtaining the Chartered Accountant title is the peak of all accounting certificates.”
“Pursuing the ICAEW qualification is a real challenge to me. In order to obtain this qualification, I will have to work hard and study smart to pass all the papers. To remain competitive in the marketplace, the accounting and finance profession must demonstrate a high level of expertise and awareness of the reporting and ethical standards introduced by both global and local regulators. The ICAEW qualification prepares the top-level professionals with the knowledge and skills expected in today’s business world, embedding the best practices in financial reporting, taxation, consulting and auditing across the globe.”
“CFAB helps me to learn a variety of interesting business topics that will be significant to my career progress in the long run. The CFAB certificate will guide the students through ICAEW and it will be one of the greatest pathways for me to achieve the Chartered Accountant title which is the acme of all accounting certificates.”
“For me, CFAB qualification is a unique startup certificate level to obtain Chartered Accountant title as it is an honorable step that could prepare you for the next professional level. It also gives me a great insight of what the business world would be like which helps me a lot in figuring and finding out what I will be doing in the future.”
“Having completed the CFAB qualification, I certainly believe that it is one of the most comprehensive and flexible programmes available out there that equips the students with fundamental knowledge in finance, accounting and business. It serves as a good basis for students to continue with ICAEW ACA qualification. Most importantly, it is the qualification that is highly sought after by employers.”
“To me, ICAEW CFAB is not only a professional certificate programme, but also a partner in my career success. Thanks to ICAEW CFAB, I am shown the full picture of how a business operates, and the important role a finance and accountancy profession play in a business. ICAEW is just like my career guide, providing everything I need for my career success.”
Pham Van Bach
EY, ACA student
“Pursuing such prestigious and internationally recognized qualification like the ICAEW CFAB and ACA will help me to build a solid foundation for a successful professional life. This provided me a strong support in achieving my career goals.”
Nguyen Thu Trang
PwC, CFAB student