ICAEW Higher Education Conference 2014 BUSINESS WITH CONFIDENCE icaew.com/hei

ICAEW Higher Education Conference
2014
BUSINESS WITH CONFIDENCE
icaew.com/hei
Welcome and Introduction
Mark Protherough, Executive Director,
Learning & Professional Development, ICAEW
BUSINESS WITH CONFIDENCE
icaew.com/hei
Order for the day…
• Next: Updates on ICAEW activity
• 11.05: Break
• 11.30: Discussion Session 1 – Working Together
• 12.45: Presentation – Alternative futures for UK universities
• 13.15: Lunch in Main Reception Room/Coffee in Great Hall
• 14.15: Discussion Session 2 – Early Identification: what the
employers are looking for
• 16.00: Close for networking – Drinks at City Boot, Moorgate
All presentation slides will be made available on the HEI website
after today
BUSINESS WITH CONFIDENCE
© ICAEW 2012
icaew.com/hei
The Evolved ACA & Partner in Learning
Shaun Robertson, Head of Qualifications, LPD
Laura Curtis, Academic Education Manager, LPD
BUSINESS WITH CONFIDENCE
icaew.com/hei
The Evolved ACA
• Exams
• Launched 1st July 2013
• 1st Electronic assessment August 2013
• 1st Written sitting September 2013
• Parallel running!
• Last sitting of ‘old ACA’ July 2015
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com/hei
The Evolved ACA
• Work Experience
• Authorised Training
Principal scheme
• Online Training file
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com/hei
12 months on…
• 111 HEI Partners
• 85 UK Institutions
• 26 International
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com/hei
Here today…
BUSINESS WITH CONFIDENCE
© ICAEW 2012
icaew.com/hei
CPL
ACA
Modules
USS
Graduate
Recruitment
PARTNER IN
LEARNING
IFRS
BUSINESS WITH CONFIDENCE
© ICAEW 2012
Learning
Materials
CFAB
icaew.com/hei
Strategic Degree Programmes
• Employer Affiliated Programmes
•
•
•
•
•
PWC
Newcastle University Flying Start Programme
University of Nottingham Flying Start Programme
University of Reading Flying Start Programme
Tsinghua University Flying Start Programme
• KPMG School Leavers’ programme – Durham University
BUSINESS WITH CONFIDENCE
© ICAEW 2012
icaew.com/hei
Strategic Degree Programmes
• Strategic Placement Programmes
• Undergraduate Partnership Programme (UPP)
University of Cardiff
University of Manchester
University of Warwick
• Cass Business School BSc (Hons) Accounting & Finance
• Leeds University Business School BSc (Hons) Accounting &
Finance
BUSINESS WITH CONFIDENCE
© ICAEW 2012
icaew.com/hei
Strategic Degree Programmes
• Blended Learning Programmes
• Manchester Metropolitan University Professional Accounting
• Birkbeck, University of London BSc (Hons) Applied Accounting
& Business
• Bournemouth University BA (Hons) Accounting & Finance
• University of Liverpool BA (Hons)Accounting and Finance
BUSINESS WITH CONFIDENCE
© ICAEW 2012
icaew.com/hei
Strategic Degree Programmes
• Strategic Postgraduate Programmes
• Newcastle University Postgraduate Diploma
• University of Liverpool, MSc Accounting
• UWE Bristol Postgraduate Diploma in Professional Accounting
BUSINESS WITH CONFIDENCE
© ICAEW 2012
icaew.com/hei
Where we’ve been part 2…
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com/hei
Sunny(ish) Scotland…
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com/hei
International expansion…!
University of National and
World Economy, Sofia
BUSINESS WITH CONFIDENCE
© ICAEW 2013
240 students interested
in hearing about ICAEW
icaew.com/hei
The Next Chapter…?
• Flexibility
• Diversity
Partnership
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com/hei
Ethics and ICAEW
Ethics in the syllabus
Cath Gowthorpe, ICAEW Examiner
BUSINESS WITH CONFIDENCE
icaew.com/hei
From HEI 2013
Ethics and professional scepticism
• Covered in three ways:
– Knowledge of ICAEW Code of Ethics
– Application of ethics requirements
– Practical application of ethical conduct and decision making
• Development of an enquiring mind and the confidence to challenge
• Ethics will be included in all exams
• New e-learning programme based on the ICAEW Code of Ethics
• Scenarios dealing with ethical dilemmas to be used and discussed in
the workplace
• Managed by employers - monitored by ICAEW
• Employers own schemes may be accredited
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com/hei
Ethics in the ACA
• Thoroughly embedded in the ACA curriculum – ethics
examined in all ACA papers at Certificate, Professional and
Advanced Levels
• Ethical training takes place in the workplace, and is assessed,
whether by devolved assessment or firm’s own assessment
• New devolved assessment has been developed in 2013
• New ethics scenarios for discussion have been developed in
2013
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com/hei
Why is ethics so pervasive in the ACA curriculum?
In order to emphasise that:
• Ethics is central to the role of ICAEW Chartered Accountants
and students
• Ethical dilemmas and problems may arise frequently and need
to be tackled with clear thinking, confidence and courage
• Ethical awareness and ability to cope with problems can be
developed in training and practice
• ICAEW Chartered Accountants and students are not alone –
help is available
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com/hei
Ethics in the university curriculum
• Probably won’t have a separate ethics module – insufficient
space in the curriculum, lack of a specialist to teach it
• BUT - as in the ACA, ethics and professional scepticism can
be embedded throughout the curriculum
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com/hei
Issues and attitudes to challenge – the complacency
threat
• Acting ethically is not a problem for me because I’m a good
person
• Ethical dilemmas are rare and unlikely to affect me
• Nothing bad is going to happen to me
• If an ethical problem arises, the solution will be obvious
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com/hei
How?
• Make sure ethical principles, dilemmas and threats are spread
across the curriculum
• Use existing case outlines e.g. those available at icaew.com in
both practice and business contexts
• Use video material – there’s plenty available
• Introduce ethics questions into most/all assessments
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com/hei
Accreditation:
How to get it & How to keep it
Judy Dimmock BA ACA
Senior Credit for Prior Learning Manager, ICAEW
BUSINESS WITH CONFIDENCE
icaew.com
Who are the CPL Team?
Judy Dimmock
Senior CPL Manager
Fiona Moore
Senior CPL Executive
Paddy Beard
CPL Executive
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com
How do we award CPL?
CPL Directory – visit www.icaew.com/cpl
BUSINESS WITH CONFIDENCE
icaew.com/hei
Awarding accreditation to a HEI
• Partner in learning visit
• Complete a HEI CPL application pack
• Submit the supporting documentation requested
• Assessment and decision
• Formal communication and entry onto CPL directory
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com
The CPL application process -1
Learning outcomes
• Demonstrate that our core topics have been taught
• All key learning outcomes for the ACA module must be met
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com
The CPL application process -2
Assessment should be of the same standard as ACA
exams:
• The exam element of the assessment should be at least
50% of the total marks available
• Certificate level modules – Assessed by objective testing
• Professional level modules – using knowledge in a case
study-type scenario
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com
Quality Assurance and CPL monitoring
• General information about the department and the degree
programme
• The HEI application must be signed or countersigned by a
professional accountant
• Annual updates to confirm that standards have been
maintained and inform us of any changes
• On-going monitoring includes monitoring graduates as they
progress through their ACA training
• ICAEW are regulated by the FRC - administration of the CPL
process forms part of the FRCs review
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com
Contact us
General Enquiries to Student Support:
[email protected]
+44(0) 1908 248 250
[email protected]
+44(0) 1908 248 393
[email protected]
+44(0) 1908 248 239
[email protected]
+44(0) 1908 248 147
BUSINESS WITH CONFIDENCE
© ICAEW 2013
icaew.com
New Developments & Dealings with
Students
Adam Moore, Senior Marketing Executive, LPD
Amanda Akien, Senior Marketing Executive, LPD
Jo Wood, Development Marketing Manager, LPD
BUSINESS WITH CONFIDENCE
icaew.com/hei
International Student Recruitment
Activity
Adam Moore, Senior Marketing Executive
BUSINESS WITH CONFIDENCE
icaew.com
Background
• International offices
• International Business Development
Managers
• New Special Projects team
BUSINESS WITH CONFIDENCE
icaew.com
2013 Activity
• On campus events
• Asia and Middle East Careers Fair
• Event follow up
BUSINESS WITH CONFIDENCE
icaew.com
Plans for 2014
• Dedicated area of the website
• Developing tailored materials for international
students
• On campus activity
• Ongoing work with universities
BUSINESS WITH CONFIDENCE
icaew.com
Commercial Awareness Session
Amanda Akien
BUSINESS WITH CONFIDENCE
icaew.com
WHY THE NEED FOR COMMERCIAL AWARENESS?
•
A key attribute that graduate recruiters look for but that many graduates
lack.
•
Applies to CFAB students too.
•
To compete in any sector of the graduate market grads need to
demonstrate commercial awareness for interviews and assessment
centres.
94 % of careers advisers and academics rated commercial awareness as an
area their undergraduates could improve on.
Over 35 % of academics and careers advisers wanted ICAEW to offer a
commercial awareness training or workshop.
Source: ICAEW Careers Day 2013 for careers advisers and academics.
BUSINESS WITH CONFIDENCE
icaew.com
COMMERCIAL AWARENESS EMPLOYER QUESTIONS
•
•
•
•
•
•
•
•
•
•
How do you keep up to date with business?
What story in the business press interests you?
Why did you consider it significant?
What is the role of the International Monetary Fund?
What is the current Bank of England base rate? What will happen to an
organisations finances if interest rates go up?
How many euros/$ would you get today in exchange for £1 today?
What is the FTSE 100? Did the FTSE go up or down yesterday?
What was our share price this morning? What area of our business interests
you and why?
How have you demonstrated commercial awareness in the past?
What changes would you make to our business? Which products or
service lines would you cut - why?
BUSINESS WITH CONFIDENCE
icaew.com
COMMERCIAL AWARENESS CASE STUDIES
BUSINESS WITH CONFIDENCE
icaew.com
COMMERCIAL AWARENESS SESSION AIMS
At the end of the commercial awareness session students
should have:
• the ability to view situations from a commercial or business
perspective
• understand what makes a business successful and identify
factors that influence success
• understand the business processes, relationships, risks and
costs.
In line with commercial awareness levels needed by engineering, law and accountancy
recruiters.
BUSINESS WITH CONFIDENCE
icaew.com
BENEFITS OF THE COMMERCIAL AWARENESS SESSION
•
•
•
•
•
•
•
•
•
•
•
•
Practice content covered in business, finance or accountancy modules
(revision).
Flexibility of session 1 hour + any group size or year group/level.
Works for international students (SEA - iPhone).
More complex questions lend themselves to longer pieces of work, written
assignments or additional group tasks.
Different presentation topics ensure students are challenged.
Questions their thought process and covers entrepreneurship.
Employability skills - team working, time management, communication,
analytical and presentation skills.
Real business case studies that students can relate to.
Increases their knowledge of other businesses and sectors.
Materials – A glossary of terms and models students can keep
Confidence building.
Competiveness – certificates and prizes for winning team.
BUSINESS WITH CONFIDENCE
icaew.com
COMMERCIAL AWARENESS ACADEMIC CONTENT (ICAEW CFAB)
Each case study has a Question bank of 10 questions which cover the following areas from Business
and Finance module:
•
•
•
•
•
•
•
•
•
•
Business objectives and functions
Business and organisational structures
Sustainability, corporate responsibility and ethics
External environment
Organisational structures, functions and people management
Theories of economics, finance and business
Different finance sources available to businesses
External influences on businesses and their impact on business decisions
The importance of competition and how it affects business decisions
Models include Kotler’s Competitors, SWOT analysis, TOWS Matrix,
PESTEL, the product life cycle, Porters Five Forces.
BUSINESS WITH CONFIDENCE
icaew.com
EXAMPLE QUESTIONS
Many ethical consumers were shocked
by the £652m sale of the Body Shop to
Consider the four areas of the product life
French cosmetics giant L'Oréal.
cycle of LOVEFiLM what stage do you think
Discuss the impact of this sale on a)
they are at and why?
stakeholders including suppliers b) and
If you were a business adviser for BlackBerry
the brand?
which two recommendations would you make?
Put together a TOWS* analysis and consider
Consider the marketing of The Body
any threats for Sports Direct in the future? If
Shop products. Is it a strategic way of
you are Mike Ashley what would you do to
getting customers to buy items which
combat these threats?
bear a financial donation to a humane
What competitive actions would you take if
cause in turn giving customers a guilt
you were running an airline which was under
free conscious to buy retail goods?
pressure from fierce competition?
BUSINESS WITH CONFIDENCE
Discuss…
icaew.com
NEW COMMERCIAL AWARENESS CASE STUDIES IN PROGESS
FOR 2014
Expanding overseas
Operating in international environment
BRIC economies – opportunities/threats
Types of risk a business might be exposed to
(Assurance Module)
Types of tax companies pay (Tax Module)
Tax requirements for companies
Implications of not complying with tax requirements
Corporate Tax Avoidance and ethics
BUSINESS WITH CONFIDENCE
icaew.com
University Student Scheme (USS)
Jo Wood
BUSINESS WITH CONFIDENCE
icaew.com
ICAEW’s University Student Scheme
One year
complimentary emembership of one of
our world-class
faculties
Study ICAEW’s
Certificate in Finance,
Accounting and
Business alongside
your degree
Gain competitive
advantage in the job
market
University
Student
Scheme
Access ICAEW’s
world-leading
accountancy and
business library and
free resources online
BUSINESS WITH CONFIDENCE
£20 registration fee,
saving £145
Access an extensive
range of
employability skills
development
webinars
Join ICAEW’s online
student community
and network with other
USS and ICAEW
students worldwide
icaew.com
New developments and dealings with students
International activity
Adam Moore
E: [email protected]
T: 01908 248 115
Commercial Awareness
Amanda Akien
E: [email protected] T: 07501 254 861
University Student Scheme
Laura Curtis
E: [email protected] T: 01908 248 164
Jo Wood
E: [email protected] T: 01908 248 319
BUSINESS WITH CONFIDENCE
icaew.com
A world leader
of the accountancy
and finance profession
BUSINESS WITH CONFIDENCE
icaew.com
ICAEW Academic Research
Gillian Knight, Research Manager,
Technical Strategy Department
BUSINESS WITH CONFIDENCE
icaew.com/hei