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ICAEW: the letters matter

A professional designation can set you apart, standing you in good stead throughout your career

As business becomes increasingly demanding, more and more firms are looking for professionals at non-chartered level who have the right skills, knowledge and experience to meet those needs.
But how can you be sure that you have these, and equally, how do you let others know?
Your qualification is a great first step. It demonstrates you have put in the hard work and time to build a solid base. Yet business requirements change at a rapid rate and what you learned a year ago might not be as applicable today. This is where professional development and commercial awareness come into play, and how becoming a designated professional can set you apart.
A designation demonstrates that you are prepared to keep putting in the same amount of effort you did towards your qualification, whilst adhering to high standards and regulations valued by organisations around the world. It equally shows your commitment to your profession. By keeping up with the changes in your industry you can make informed business decisions.
Organisations need more designated professionals and this is why we have introduced the ICAEW Business and Finance Professional (BFP), a new designation offering professional certification on your way to becoming fully qualified. There are more reasons why gaining a designation could mean a lot for your career. Among others, with a designation, you:
Gain professional recognition: As a part qualified professional, becoming recognised by a membership organisation is a huge achievement. Not only are you being rewarded for your efforts so far – the ability to retain your status means you are consistently performing at a high standard. It shows you have gone through a demanding evaluation process and met the level of competence set by an international institution. This recognition is as important to your employer as it is to you, as you would be adding value to the organisation, but also because designated staff can enhance credibility with clients.
Add designatory letters to your name: Designatory letters aren’t decorative, they actually add value to your professional standing, helping you stand out from the crowd.
What these letters signify is that you have been acknowledged by ICAEW, that you are qualified to give professional advice on business issues and that you have the right knowledge, skills and experience to contribute to the success of your organisation.
Get invaluable support: Having a designation isn’t only the means of demonstrating the skills you already have, but what you’re aiming to achieve. It’s a commitment to your professional and personal development, and having access to relevant resources can support you in the journey.
As an ICAEW Business and Finance Professional, you would have access to a wealth of resources, including the ICAEW helplines. These are there for you if you come across ethical dilemmas, technical or legislative issues or just need guidance on concerns that have an impact on your organisation as a whole.
To gain BFP status, you will need to meet the ICAEW standards relating to technical knowledge, business skills and understanding of ethics. These are met through the completion of our ICAEW CFAB qualification (or relevant qualification from another professional body), 12 months’ work experience and our online Ethics Learning Programme.
You can find out more about the designation at icaew.com/becomeabfp
• Thanks to the ICAEW for this article

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