Young Academic has learnt that The Chartered Institute of Management Accountants (CIMA), BPP and PwC are working with some of the world’s largest global companies to develop England and Wales’ first ever degree level apprenticeship in management accounting.
The move opens doors to employers across the UK to take advantage of government funding and student interest in different routes to higher education and employment.
It is anticipated that the first roles aimed at school leavers completing their A-levels could be available as early as September 2013, with Siemens being one of the first employers to adopt the programme.
The qualification route, designed with education providers, industry associations and leading employers, means Apprentices will access a top quality career in management accounting that typically has only been available to university graduates. They will study for the globally recognised CIMA Certificate in Business Accounting qualification, alongside wider business training and experience such as in team working, project management and leadership skills.
Skills Minister Matthew Hancock said: “This new degree level Apprenticeship will be fantastic for young people who want to pursue a career in management accounting but feel University isn’t for them. It will also provide a more diverse workforce for businesses that offer it.
“It is our ambition to make it the norm for school leavers to either go to University or to do an Apprenticeship. Higher Apprenticeships like this are crucial to making that a reality.”
“This reflects the growing view that employability is increasingly of greater importance than academic qualifications,” said James Hammill, Director, BPP Professional Apprenticeships.
“These apprenticeships are employer-led, giving young people skilled jobs which will give them the opportunity to ultimately progress to full chartered accountant status.”
“CIMA is delighted to offer talented people in England and Wales a new and supported route into management accounting” said David Rowsby, CIMA’s Regional Director for Europe. He continued:
“It’s a great opportunity to gain real practical experience whilst studying towards a professional qualification, laying solid foundations for a finance or commercial role in the future.”
David Way, Executive Director, National Apprenticeship Service said: “This collaborative partnership is another example of how Apprenticeships are growing in quality and ambition. They increasingly reflect the exciting and diverse world of work and the range and level of occupations available.
“Research and experience shows clearly that Apprenticeships deliver real business benefits for employers. When launched, this Higher Apprenticeship will also enable firms in the professional services industry to diversify their traditional workforce and to attract and invest in talented young people.”
Sara Caplan, Partner, PwC, who has led the development of the frameworks used to create the Higher Apprenticeship across Professional Services said; “This framework offers a completely fresh way of thinking about qualifications, skills and employment in the professional services industry, and one that’s open to all employers and students irrespective of their size, location or background. For employers, in particular, with such a range of government funding, training support and industry involvement, this is the right time to be acting on apprenticeships. It’s a huge opportunity for everyone involved to transform the pipeline of skills supporting British business and recovery.”
The new framework, designed specifically to meet the needs of the professional services skills development and employment, will also reassure employers who have said in the past that the biggest barriers to hiring an apprentice was that apprenticeships are not sufficiently tailored to their needs, or relevant to their sector, [CIPD research Sept 2012] and is aligned with the recent recommendations of the Richard review; http://t.co/TPlsxiC5mb.
To underline its commitment to the Apprenticeship cause, the Government has dedicated significant funding; investing £250 million over five years to create 50,000 Apprenticeship places by 2015. Higher Apprenticeships are aimed at anyone who has completed A-levels or equivalent.