Incorporating NQ magazine
July 2025
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ACCA QUALIFICATION REDEFINED ACCA is launching a redesign of the ACCA qualification, which will be introduced in mid-2027. ACCA told PQ magazine that the changes being demanded from business and employers is leading to a redefinition of what it means to be an accountant, broadening roles and increasing future opportunities. It believes this cutting-edge redesign will equip future generations of ACCAs for the ever-changing world of work. The new exam levels will be known as ‘Knowledge’, ‘Expertise’ and ‘Strategic Professional’. At the Expertise level (old Applied Skills) there will be five exams: Taxation; Financial Reporting; Audit, Risk & Control; Finance & Investment; and Performance with Data Analysis. At the Strategic Professional level, the current Strategic Business Reporting exam will be evolved into Business & Sustainability Reporting. The Strategic Business Leader exam will remain the same. Students then have to select one option from five. The new option is the Data Science Professional exam, with the other four evolutions of the current option papers. Yes,
you read that right – you only have one optional paper to sit in the redesigned ACCA qualification. However, a key focus of the change is employability, with ACCA introducing new Employability Modules at every level. Some of these will be compulsory and are attached to each level, while others will be optional. ACCA is also developing AI-tailored advice technology, and
each student will get their very own digital mentor. Achievements will be recognised too, as a student progresses through the qualification. So, when you pass the Expertise level, for example, you will be awarded an Advanced Diploma. ACCA has promised a smooth transition for all students currently on, or about to start, their journeys. It said: “All of their hard work will
be recognised and rewarded in the switchover to the redesigned qualification. Students won’t need to take any equivalent elements of the new qualification that they have already completed.” There is a transition tool too, and students can input their expected passes to see their future journey. This can be found, along with videos and lots of other useful information, on the website at www.accaglobal.com/futurequal. Helen Brand, chief executive of ACCA (pictured), told PQ magazine: “Accountancy is being redefined. Accountants are drivers of sustainable business, promoters of social value, and enablers of new technologies. They are sharpening their financial and ethical skills for a changed world of ever-shifting opportunities and challenges. They innovate with new business models and fresh thinking about what success looks like. They focus on people, planet and prosperity to create value for all. “The changes we’re making will equip the next generation for this exciting new future that will bring wider and more varied opportunities.” • Check inside as Reza Ali, ACCA director of innovation in learning and assessment, goes into more detail about the redefined qualification.
CGMA – THE FUTURE OF FINANCE There is a problem with professional education, and the current ‘operating system’ needs an upgrade, says Stephen Flatman, VP Education and Professional Qualifications – CIMA (pictured). In an exclusive interview about the CGMA upgrade, Flatman told PQ that many accountancy bodies’ offerings have hardly evolved for the past 25 years, and that can’t continue. He stressed that traditional jobs are being hollowed out, and entry level roles now need accounting and finance people who have powerful problem-solving skills and have critical thinking. CIMA believes some ‘traditional’ roles, such
as book-keeping, are ripe for automation, but there will be strong growth in other roles, particularly in finance teams. This, stressed Flatman, is where the CGMA upgrade comes in, putting critical thinking skills to the fore, developing these skills right at the start of the qualification rather than waiting until year three or four. CIMA is preparing for roles in finance teams that focus on value creation, with PQs who understand the importance of business partnering, and have key strategic and analytical skills. This is where the growth in jobs will be in the future. Check out more about the CGMA upgrade on page 22.