All ICAEW Professional Level modules are examined with a written or PC-based exam and may be taken in any order.

Audit and Assurance

This module covers critical aspects of managing an assurance engagement, including:

  • legal and other professional regulations, ethics and current issues
  • accepting and managing engagements
  • planning engagements
  • concluding and reporting on engagements

This is a 2.5 hour open book exam.

Financial Accounting and Reporting

This module covers the preparation of complete single entity and consolidated financial statements and extracts from those statements, including:

  • accounting and reporting concepts and ethics
  • single company financial statements
  • consolidated financial statements

This is a 3 hour open book exam.

Financial Management

This module covers how to recommend relevant options for financing a business, recognise and manage financial risks and make appropriate investment decisions, including:

  • financial options
  • managing financial risk
  • investment decisions and valuation

This is a 2.5 hour exam.

Tax Compliance

This module covers how to prepare tax computations for individuals and companies, including:

  • ethics and law
  • capital gains, income, inheritance and corporation tax
  • national insurance contributions
  • VAT and stamp taxes

This is a 2.5 hour open book exam.

Business Planning: Taxation

This module covers how to identify and resolve tax issues that arise in the context of preparing tax computations, and to advise on tax-efficient strategies for businesses and individuals, including:

  • ethics and law
  • taxation of corporate entities and unincorporated businesses including partnerships
  • personal taxation

This is a 2.5 hour open book exam.

Business Strategy

This module covers how businesses develop and implement strategy, including:

  • strategic analysis
  • strategic choice
  • implementation and monitoring of strategy

This is a 2.5 hour exam.

All of the ICAEW Professional Level modules are available for credit, based on prior learning.   Please visit the ICAEW website for more information.