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Building Future Skills in Accountancy

Building future skills in accountancyAs a part of the government’s 2011 ‘Plan for Growth’ review, the UK Commission for Employment and Skills was asked to investigate whether the accountancy profession has the skills it needs to support current and future economic growth. The report shows through notable case studies that there are high levels of innovation across the profession in securing the workforce skills it needs. The report recommends changes to the current arrangements for designing Apprenticeships in order to continue to secure the skills that can deliver economic growth for the profession and support the economy as a whole.

Building Future Skills in Accountancy (PDF, 1.0 Mb)  
Published November 2011

Accountancy is forecast to be a key area of growth in employment in the future and securing the right quality and quantity of skills will be essential to delivering the potential growth. This report outlines the importance of accountancy to the UK economy, researches whether the profession has the right skills to deliver economic growth and makes recommendations to support development.

Building on existing resources such as the Employer Perspectives Survey, Annual Business Survey and alongside detailed interviews with stakeholders and employers across the profession, the report provides a robust evidence base of the workforce skills needs and challenges in securing these.

The accountancy profession has much to celebrate, with good examples where they have collaborated and responded to a changing environment to secure the skills required. However there is no room for complacency, the challenges will continue and the profession needs to further strengthen alternative routes into the profession to provide the quality and quantity of skills required.

The report's main recommendation is to request Government support for policy changes to Higher Apprenticeships; to allow non-QCF qualifications; extend into a Level 6; and remove some mandatory entry requirements. This will allow a single means of progression within the Apprenticeship framework which goes up to the full chartered status. Such a development would also demonstrate greater parity between vocational training and traditional academic routes.

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