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In five years time...
01 September 2017
Over 160,000 accountancy trainees are still trying to get qualified five years after they started their journey, according to the latest figures from the Financial Reporting Council.
The UK accountancy bodies have some 576,000 students studying for their qualification, and over one in four (27%) of these PQs are still paying their student subscriptions half a decade after they started.
The ACCA has the most students, so it is hardly surprising it has the most students still ‘not qualified’ after five years. While last year there were nigh on 120,0000 students still registered after five years, this year that figure has gone up to 123,000. That is a whopping 30% of the total number of PQs signed up to the ACCA.
CIMA is not far behind in the percentage stakes. It’s five-years-plus student total stands at 25.6%, which translates to 32,124 PQs.
The other body with large numbers still studying for a professional accountancy qualification after five years is CIPFA. The latest FRC data shows it has 18.7.4% students in this group, that’s up on the 16.4% for the previous year. In all this amounts to 799 CIPFA PQs.
Both ICAS and ICAEW have low numbers of students still studying after five years, some 2.9% and 3.3% respectively. CAI, the Irish accountants, have slightly more students in this predicament than their counterparts across the water, with a percentage of 11.1%, but that is down from last year’s 16%.
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