Overview
Accounting and taxation professionals are highly respected worldwide for their expertise in managing finances and businesses. Their role goes beyond crunching numbers; they provide valuable strategic advice, ensure financial compliance through audits, and facilitate important business transactions like mergers and acquisitions. Throughout a career in this field, you’ll encounter diverse challenges that require technical know-how, skills, and experience. The apprenticeship in accounting and taxation prepares you to lead organisations and individuals in making sound financial decisions that are both responsible and sustainable. Upholding the highest standards of professional conduct and competency is crucial, as you’ll be expected to prioritise the public interest and maintain ethical behaviour and integrity at all times. Upon completing this apprenticeship, you’ll be eligible to seek membership in one or more prestigious professional bodies in the UK.
What You’ll Learn
Assurance, Risk, and Control:
Ensuring Trustworthy Information: Assurance, risk, and control processes aim to provide stakeholders with confidence in the information—both financial and non-financial—pertaining to the organisation. This helps stakeholders exercise sound judgment by considering risks and effective risk management strategies.
Business Understanding:
Understanding Key Business Goals: It’s crucial to demonstrate a solid grasp of the organisation’s main objectives and the metrics used to measure success.
Financial Literacy:
Managing Financial Information: Proficiency in preparing, analysing, and interpreting financial data, tailored to one’s role within the organisation is essential for both internal decision-making and external reporting.
Compliance and Regulations:
Navigating Legal and Ethical Standards: Professionals need to comprehend and apply relevant laws, standards, and principles governing their field. This includes accounting standards, auditing principles, tax laws, ethical codes, and internal organisational policies.
Strategic Management and Governance:
Making Informed Decisions: Using a combination of financial and non-financial data, professionals should make sustainable business decisions. This involves recommending good governance practices, supporting strategic choices with thorough financial analysis and project evaluations, and presenting well-rounded conclusions based on internal and external factors.
Apprenticeship End-Point Assessment (EPA)
At the end of the apprenticeship, there is an End-Point Assessment (EPA) to evaluate the apprentice’s knowledge, skills, and behaviours. An independent assessor conducts this assessment, including synoptic case study and project report.
Before entering the EPA gateway, apprentices must meet certain requirements, including English and mathematics qualifications, completion of specified projects, and passing relevant qualifications listed in the occupational standard.
Apprentices who complete the EPA will receive a certificate. For more information or assistance, apprentices can contact their employer, training provider, or the EPA organisation for support and guidance, including requesting reasonable adjustments due to disability or special considerations.
Key Information:
Entry Requirements: Depend on employer, but likely a bachelor’s degree or equivalent qualifications or relevant experience
Relevant school subjects: ICT and maths
Typical duration to EPA: 36 months
Achievement upon completion: Level 7 (Degree)—equivalent to a master’s degree
Potential salary upon completion: £27,000 per annum
Apprenticeship standard
More information about the Level 7 Accounting and Taxation Professional standard can be found here.
Apprenticeship end point assessment
For more information about the End Point Assessment Process, please read the Institute of Apprenticeships’ information page