ACCA's new qualification - accountancy redefined

ACCA unveiled the redesign of its gold standard ACCA qualification on 24 June. In this exclusive article for PQ readers, ACCA’s Reza Ali (pictured) outlines the changes being introduced in mid-2027

We’ve always been ambitious at ACCA. We’re ambitious for the future of the accountancy profession, for our qualification and, most of all, for you and your career. But achieving our ambitions won’t happen if we stand still. That’s why we’re excited to unveil our redesigned ACCA qualification which we’ll be introducing from July 2027. Together with you, our students, our members, employers and the rest of our community, we will redefine accountancy.

Why change the qualification?

ACCA has a long-standing history of excellence in qualification design, and these changes reflect our unwavering commitment to employability and integrity.

Evolution is in our DNA and we regularly review and refine the syllabus and the qualification. This means that future members like you are equipped for the future workplace. Keeping our qualification on the cutting edge also equips you for a huge and growing range of opportunities across many sectors with a cuttingedge qualification which is recognised around the world.

We’ve consulted on these changes with students, members, employers and learning providers around the globe, as well as representatives of Gen Z, so we know we’re developing the skills that are in demand. This approach ensures the qualification evolves with the changing needs of employers, students and the profession, and those needs are now changing fast and in significant and exciting ways. In other words, accountancy is being redefined.

How is accountancy being redefined?

The world needs accountants now, more than ever. A much wider concept of business value is taking hold, with new thinking of what success in business means and looks like. The future is not just about profits, but planet and people as well, and technology is offering far-reaching opportunities to shake up and improve the way organisations work. Accountants are at the heart of this and have an increasingly exciting and critical role at the heart of change.

This means the remit of accountants is expanding, with greater focus on the following areas. These are already central to the existing ACCA qualification syllabus, but we’re sharpening and increasing our focus on them, ensuring they’re woven throughout the qualification:

• Sustainability: Accountants are central to driving an organisation’s sustainability strategy, helping to drive rounded business decisions, push forward sustainable approaches and drive measurement and reporting in this area.

• Social impact: Accountants are increasingly considering the impact of business on communities and individuals, to reduce exploitation and increase fairness, and drive better, more rounded decisions.

• AI and other new technologies: These present huge opportunities for business efficiency, analysis, decision-making and customer services, but also a lot of risks. AI and new tech are also driving the development of new business models. Accountants are core to steering a route to success in this area. More than ever, they need to be tech-savvy and at the cutting-edge of new technologies.

• Ethics: These have always been core for accountants, but in this changed world it’s even more challenging for organisations to chart an ethical course. It’s the job of accountants to navigate the new landscape and consider their impacts on their organisation.

• Business strategy: Accountants have long been central to business strategy, but as the world is becoming more complex, the challenge of this role is ramping up the importance.

The overwhelming evidence from employers is that while businesses and other organisations will always need accountants with the best possible technical expertise, they are now looking for more in the areas above. They need accountants with a strong ethical grounding, but who are also forward-looking with strong professional skills, and who are strategic thinkers. The changes to the ACCA Qualification have these needs at its core.

So what’s new?

These are some key innovations in our new structure:

• A holistic journey: What’s really exciting about the changes is how we’ll provide a holistic journey. It won’t be a linear journey, where you first do your learning, then sit exams and then focus on employability. It all comes together and is a unified and holistic journey where at each level of the qualification, we’ll provide learning guidance and support, assessments, employability support, and help develop skills.

• Focusing on your employability: This is a key focus of the changes. We’re introducing new Employability Modules. Some will be compulsory and attached to each level of the qualification. Others will be optional and will cover a whole range of professional, technical and technological skills, from communication to using Python and cloud accounting.

• AI-powered advice: We’re developing tailored advice and support embracing AI technology and a digital mentor to support students through their journey.

• Enhanced awards and designations: Achievements will be recognised, and you’ll be issued awards and designations as you progress through the qualification to help demonstrate your employability and help you find career opportunities.

Our redesign brings together core technical and professional skills and capabilities. It will be an integrated learning and exam journey with a clear focus on employability and delivering career impact.

How will it impact me?

Ensuring the qualification remains cutting edge means that our members are always in demand with employers. So those of you who are expecting to complete your studies before these changes come in 2027 will benefit because they’ll protect and boost your reputation and brand as an ACCA member. They’ll ensure the magic four letters after your name will become even more powerful and relevant far into the future.

Those of you who still expect to be on your study journey in 2027 will be fully supported. There will be no disadvantage in terms of progression or cost to complete the qualification. All of your hard work will be recognised and rewarded in the switchover to the redesigned qualification.

You won’t need to take any equivalent elements of the redesigned qualification which you have already completed. We’re working closely with learning partners so that they’re well placed to support the changes we’re making.

We’ve developed a transition tool which will detail what this means for you. If you input your expected passes into the tool it will then give you an updated status showing how they carry over to the new structure. You can find this, along with videos and lots of other useful information, on our website at accaglobal.com/futurequal

Your ACCA record will automatically update in 2027 when the new syllabus is introduced.

How will it be structured?

Our redesign focuses on bringing together technical expertise and professional skills and capabilities to ensure you’re developing the skills you need for the workplace. We’ll have a clear focus on your employability and delivering career impact.

Those who meet the minimum entry criteria can start the ACCA qualification at the Knowledge level.

But inclusivity and opportunity have always been core to ACCA. That’s why we will still provide an entry route to the qualification for those who don’t meet the criteria. No prior qualification or experience will be required to start at our newly streamlined Foundations level, which will replace the current Foundations in Accountancy structure.

There are three primary components in our redesigned ACCA qualification:

1. Exams – will ensure you’re equipped with the skills needed in the workplace, developing technical expertise and professional skills using real-world scenarios. We will support you through all stages of the qualification, maximising your chances of success.

2. Essential Employability Modules – mandatory at each level of the qualification, these will provide an integrated learning and assessment experience, developing your technical expertise and professional skills in key areas.

3. Experience and Employability – developed throughout the journey, with a requirement for you to complete 36 months’ workplace experience. If you’re working in a relevant role you can meet the PER objectives as you complete your exams. There will also be an option to complete additional new Optional Employability Modules at any stage of the learning journey, and up to six months of the experience requirement will be able to be met through completing some of them – we’ll share more details nearer the time. Note that 36 months of workplace experience will still be required for audit qualification and practising certificates (PC).

Students completing the Foundations, Knowledge and Expertise levels will be awarded diplomas to showcase their skills to employers. Our existing opportunities to achieve additional qualifications will remain; the Certified Accounting Technician Qualification (CAT) and the MSc in Professional Accountancy for affiliates and members – more information is available on our website. And we have just launched an exciting new BSc collaboration.

BSc (Hons) programme

ACCA students will continue to benefit from the opportunity to attain a world-leading academic qualification alongside their ACCA studies with our new BSc (Hons) Professional Accountancy collaboration with the University of London.

Applications for the first intake open in December but you can register your interest on our website now to receive all the latest information by email.

This new programme allows you to work towards the ACCA qualification and a BSc at the same time. It means there’s no need to choose between an academic and a professional qualification, and you will also benefit from savings in terms of both time and money. And, of course, it boosts your CV and employability in the world of accountancy, finance and business. Read the article on page 21 to find out more.

Where can I find out more?

• Visit our web pages on the changes, where you can:

• Find full information about the changes including timings.

• Read a page dedicated to students.

• Use our transition tool to help you work out how your exam passes will carry over into the new structure in 2027.

• View our Accountancy redefined video.

• View our video on the qualification changes.

• Link to your YouTube Premiere announcing the changes.

• For more go to accaglobal.com/futurequal

• Reza Ali, Director of Learning & Commercial at ACCA