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Key Facts and Trends in the Accountancy Profession 2003

Contents

The Financial Reporting Council 117 Houndsditch London EC3A 7BT

Telephone 020 7204 3253 Fax 020 7312 3310 E-mail [email protected]

Chairman's foreword

This is the second edition of 'Key Facts and Trends in the Accountancy Profession' which was previously published by the Review Board of the Accountancy Foundation. Regulatory responsibility for the accountancy profession is in the process of being transferred from the Accountancy Foundation and the Review Board to the Financial Reporting Council (FRC) which is to become the unified independent regulator for the accountancy and auditing profession in addition to its existing role in relation to accounting standards and their enforcement. One of the FRC's subsidiary Boards

  • the Professional Oversight Board for Accountancy (POBA) - will have responsibility for the independent oversight of the auditing and accountancy profession.

Because the Review Board is being replaced by the Professional Oversight Board for Accountancy, the 2003 edition of 'Key Facts and Trends in the Accountancy Profession' is being published by the Financial Reporting Council. The POBA may take forward publication of future versions of the report.

Sir John Bourn Chairman of the Review Board and Chairman of the Professional Oversight Board for Accountancy November 2003

Introduction

This document provides information in respect of:

  • members of the accountancy profession
  • students of the accountancy profession
  • the income and staffing of the accountancy bodies
  • comparisons between the accountancy bodies

Main highlights

THE ACCOUNTANCY BODIES 1997-2002

  • The accountancy bodies have over 320,000 members and almost 301,000 students worldwide (Tables 1 & 4, pages 8 & 16)
  • The accountancy bodies have over 245,000 members and over 134,000 students based in the UK and the Republic of Ireland (Tables 1 & 5, pages 8 & 17)
  • Membership has been growing at an average rate of 4.4% per year worldwide and 3.7% per year in the UK and the Republic of Ireland (Table 1, page 8)
  • Student numbers have been growing at the rate of 7.1% per year worldwide (Table 4, page 16)
  • 54% of members were in industry and commerce in 2002, compared with 22% in public practice and 7% in the public sector in 2002 (page 11)
  • 25% of members and 48% of students of the accountancy bodies are female (Tables 3 & 6, pages 12 & 17)

Members of the accountancy bodies

MEMBERSHIP: 1997-2002

Table 1 shows the number of members of the accountancy bodies worldwide (UK/Republic of Ireland and the rest of the world) over the period 1997 to 2002:

Year UK and Republic of Ireland Rest of the world TOTAL
1997 205028 53031 258059
1998 212292 56291 268583
1999 219853 59717 279570
2000 228341 64503 292844
2001 237126 69803 306929
2002 245712 74931 320643
% growth 19.8 41.3 24.3
% annual average growth 3.7 7.2 4.4

Table 1

Notes:

1 The location of members is based on the registered address supplied to the accountancy bodies. This may be either the place of employment or the place of residence.

  • There were over 320,000 members of the accountancy bodies in 2002.
  • 77% (245,712 members) were located in the UK and the Republic of Ireland as opposed to 23% (74,931 members) in the rest of the world.
  • The number of members worldwide has increased by 4.4% on an annual average basis since 1997.
  • The number of members in the UK and the Republic of Ireland has increased by 3.7% on an annual average basis since 1997.

National and international membership

(Chart showing UK and RoI vs Rest of the world membership from 1997-2002. UK and RoI shows higher numbers increasing from approx. 200,000 to 245,000. Rest of the world shows lower numbers increasing from approx. 50,000 to 75,000.)

  • The number of members in both the UK/Republic of Ireland and the rest of the world has increased each year since 1997.

SECTORAL EMPLOYMENT OF MEMBERS: 1997-2002

Table 2 shows the sectoral employment of members of the accountancy bodies worldwide over the period 1997 to 2002:

Year Public Practice Industry and Commerce Public Sector Retired Other TOTAL
1997 68199 114645 20965 26944 27306 258059
1998 70139 122123 20609 27464 28248 268583
1999 73181 127288 21238 28402 29461 279570
2000 79267 139239 23165 29975 21198 292844
2001 66065 164785 23705 30483 21891 306929
2002 69415 174873 23675 31736 20944 320643
% growth 1.8 52.5 12.9 17.8 -23.3 24.3

Table 2

Notes:

1 CIPFA does not presently differentiate between those employed in public practice, industry and commerce and 'other'. The table above assumes that they are classified as 'other'.

2 ICAI presently provides combined figures for those employed in industry and commerce and the public sector. The table above assumes that they are classified as 'industry and commerce'.

3 'Other' includes those members who are unemployed, taking a career break, undertaking full time study or maternal absence and those who are unclassified (i.e. those who have not provided the necessary information to enable classification).

4 The number of members in public practice declined significantly between 2000 and 2001 with a proportionate increase in the number of members in industry and commerce. This is mainly due to the reclassification of those members employed in management consultancy firms which were previously classified as accountancy firms and are now classified as commercial companies.

The diagram below illustrates the growth trends of each sector over the period 1997 to 2002:

(Line chart showing growth trends of Public Practice, Industry and Commerce, Public Sector, Retired, and Other sectors from 1997 to 2002. Industry and Commerce shows the most significant growth, from around 110,000 to 170,000 members. Public practice remains relatively stable around 70,000, and Public Sector, Retired, and Other sectors are much lower, between 20,000 and 30,000, with 'Other' showing a decline.)

  • Between 1997 and 2002 the employment of members in industry and commerce showed an overall growth of 52.5% compared with a growth of 12.9% in the public sector and 1.8% in public practice.

The diagram below shows the percentage of members in each sector in 2002:

2002:

(Pie chart showing the percentage of members in each sector in 2002: Public practice 22%, Industry & commerce 54%, Public sector 7%, Retired 10%, Other 7%.)

  • 22% of members were in public practice in 2002, compared with 54% in industry and commerce and 7% in the public sector in 2002.

GENDER OF MEMBERS: 1997-2002

Table 3 shows the percentage of female members of the accountancy bodies worldwide over the period 1997 to 2002:

Year % females
1997 20
1998 21
1999 22
2000 24
2001 24
2002 25

Table 3

Notes:

1 ICAI did not analyse its members by gender before 2000 and is omitted from the table above from 1997 to 1999.

  • The percentage of female members of the accountancy bodies has increased from 20% to 25% over the period 1997 to 2002.

AGE OF MEMBERS: 2002

The pie chart below shows the age range of members of the accountancy bodies worldwide in 2002:

A pie chart illustrating the age distribution of members of accountancy bodies in 2002. The segments are: * Under 25: 0% * 25-34: 26% * 35-44: 32% * 45-54: 21% * 55-64: 12% * 65 and over: 9%

  • 32% of members of the accountancy bodies are in the age range 35-44 compared with 26% in the age range 25-34, 21% in the age range 45-54 and 12% in the age range 55-64.
  • Only 9% of members of the accountancy bodies are in the combined age range of 'under 25' and ‘65 and over’.

STUDENTS OF THE ACCOUNTANCY BODIES

STUDENTS: 1997-2002

Table 4 shows the number of students of the accountancy bodies registered worldwide over the period 1997 to 2002:

Year Total worldwide
1997 213593
1998 241277
1999 256437
2000 265343
2001 278179
2002 300801
% growth 40.8
% annual average growth 7.1

Table 4

Notes:

1 The figures include ACCA affiliates and CIMA passed finalists (i.e. those who have completed their examinations but have not yet been admitted into membership). 2 The figures for ICAEW, ICAS and ICAI refer to the number of students in registered training contracts.

  • Almost 301,000 students of the accountancy bodies were registered worldwide in 2002.
  • The number of students worldwide has increased by 7.1% on an annual average basis since 1997.

LOCATION OF STUDENTS: 2002

Table 5 shows the location of students of the accountancy bodies registered worldwide in 2002:

No. %
UK & Republic of Ireland 134042 45
Rest of the world 166759 55
TOTAL 300801 100

Table 5

Notes:

1 The location of students is based on the registered address supplied to the accountancy bodies. This may be either the place of employment or the place of residence.

  • 45% of students (over 134,000) were based in the UK and the Republic of Ireland and 55% in the rest of the world in 2002.

GENDER OF STUDENTS: 2002

Table 6 shows the percentage of female students of the accountancy bodies registered worldwide over the period 1997 to 2002:

Year % females
1997 44
1998 46
1999 47
2000 48
2001 48
2002 48

Table 6

Notes:

1 The figures for ICAI and ICAS students refer to the proportion in the student intake, not the total number of students.

  • The percentage of female students of the accountancy bodies has increased from 44% to 48% over the period 1997 to 2002.

AGE OF STUDENTS: 2002

A pie chart illustrating the age distribution of students of accountancy bodies in 2002. The segments are: * Under 25: 38% * 25-34: 48% * 35-44: 11% * 45-54: 3% * 55-64: 0% * 65 and over: 0%

Notes:

1 ICAEW figures are estimated based on the percentage in each age band of responses received, since not all students provided information in respect of their ages.

  • 48% of students were aged between 25 and 34 whilst 38% of students were less than 25 years of age in 2002.

THE ACCOUNTANCY BODIES

Income and Expenditure

Table 7 shows the income of the accountancy bodies over the period 1998 to 2002:

1998 (£000) 1999 (£000) 2000 (£000) 2001 (£000) 2002 (£000)
Income 121604 132822 140870 170686 174847

Table 7

These monies are expended on:

  • education and training
  • member services
  • management and governance
  • regional and international activities
  • publications, courses and conferences
  • regulation and discipline
  • promotion and development
  • policy and technical

The income of the accountancy bodies in 2002 comes from a variety of sources:

A pie chart illustrating the sources of income for accountancy bodies in 2002. The segments are: * Members' fees: 33% * Students' and examination fees: 40% * Regulation: 11% * Member services: 9% * Miscellaneous: 7%

  • Members' fees and students' and examination fees accounted for over 70% of the income of the accountancy bodies in 2002.

Staffing

Table 8 shows the number of staff employed by the accountancy bodies over the period 1997 to 2002:

Year Number of staff
1997 1277
1998 1290
1999 1370
2000 1447
2001 1631
2002 1680

Table 8

  • The number of staff employed by the accountancy bodies has increased every year over the period 1997 to 2002.

COMPARISONS BETWEEN THE ACCOUNTANCY BODIES

MEMBERS

Members in the UK and the Republic of Ireland: 1997-2002

Table 9 shows the number of members of each of the accountancy bodies in the UK and the Republic of Ireland over the period 1997 to 2002:

ACCA CIMA CIPFA ICAEW ICAI ICAS TOTAL
1997 36267 36324 12861 97968 9370 12238 205028
1998 39406 38014 13061 99691 9758 12362 212292
1999 41995 40137 13143 101748 10269 12561 219853
2000 45392 42717 13176 103478 10721 12857 228341
2001 49085 44979 13192 105804 11196 12870 237126
2002 52678 46820 13213 108157 11840 13004 245712
% growth 45.3 28.9 2.7 10.3 26.4 6.3 19.8
% annual average growth 7.8 5.2 0.5 2.0 4.8 1.2 3.7

Table 9

  • The membership in the UK and the Republic of Ireland of each of the accountancy bodies has increased every year during this period.
  • The most rapidly growing accountancy bodies in terms of members in the UK and the Republic of Ireland since 1997 are ACCA (7.8% on an annual average basis), CIMA (5.2%) and ICAI (4.8%).

A bar chart showing the number of members in the UK and the Republic of Ireland for various accountancy bodies (ACCA, CIMA, CIPFA, ICAEW, ICAI, ICAS) over the years 1997 to 2002. For each body, there are six bars representing the years from 1997 to 2002, generally showing an increasing trend. ICAEW consistently has the highest number of members, followed by ACCA and CIMA.

Members worldwide: 1997-2002

Table 10 shows the number of members of each of the accountancy bodies worldwide (UK, Republic of Ireland and the rest of the world) over the period 1997 to 2002:

ACCA CIMA CIPFA ICAEW ICAI ICAS TOTAL
1997 60046 47230 13057 112872 10459 14395 258059
1998 66083 49157 13271 114679 10861 14532 268583
1999 71538 51692 13356 116929 11357 14698 279570
2000 79027 54934 13396 118771 11828 14888 292844
2001 86929 57616 13471 121356 12515 15042 306929
2002 95416 59782 13521 123719 13039 15166 320643
% growth 58.9 26.6 3.6 9.6 24.7 5.4 24.3
% annual average growth 9.7 4.8 0.7 1.9 4.5 1.0 4.4

Table 10

  • The membership worldwide of each of the accountancy bodies has increased every year during this period.
  • The most rapidly growing accountancy bodies in terms of membership worldwide since 1996 are ACCA (9.7% on an annual average basis), CIMA (4.8%) and ICAI (4.5%).

A bar chart showing the number of members worldwide for various accountancy bodies (ACCA, CIMA, CIPFA, ICAEW, ICAI, ICAS) over the years 1997 to 2002. Similar to the UK and ROI chart, for each body, there are six bars representing the years from 1997 to 2002, generally showing an increasing trend. ICAEW consistently has the highest number of members, followed by ACCA and CIMA.

Location of members: 2002

Table 11 shows the location (UK, Republic of Ireland and the rest of the world) of members of each of the accountancy bodies for the year 2002:

ACCA CIMA CIPFA ICAEW ICAI ICAS TOTAL
UK & Republic of Ireland 52678 46820 13213 108157 11840 13004
Rest of the world 42738 12962 308 15562 1199 2162
TOTAL 95416 59782 13521 123719 13039 15166

Table 11

Notes:

  1. The location of members is based on the registered address supplied to the accountancy bodies. This may be either the place of employment or the place of residence.
  • 45% of ACCA’s members and 22% of CIMA’s members were located outside the UK and the Republic of Ireland in 2002.
  • The other bodies each had no more than 17% of their members located outside the UK and the Republic of Ireland in 2002.

Sectoral employment of members: 2002

Table 12 shows the sectoral employment of members of each of the accountancy bodies worldwide in 2002:

ACCA CIMA CIPFA ICAEW ICAI ICAS TOTAL
Public practice 26060 1149 - 33986 4240 3980
Industry and commerce 52843 40002 - 67688 7873 6467
Public sector 8498 4896 8536 1277 - 468
Retired 4181 7513 2708 13802 628 2904
Other 3834 6222 2277 6966 298 1347
TOTAL 95416 59782 13521 123719 13039 15166

Table 12

Notes:

  1. CIMA’s figures were accurate at May 2003.
  2. CIPFA does not presently differentiate between those employed in public practice, industry and commerce and ‘other’. The table above assumes that they are classified as ‘other’.
  3. ICAI does not presently differentiate between those employed in industry and commerce and those employed in the public sector. The table above assumes that they are classified as ‘industry and commerce’.
  4. ‘Other’ includes those members who are unemployed, taking a career break, undertaking full time study or maternal absence and who are unclassified (i.e. those who have not provided the necessary information to enable classification).

  • Very few members of CIMA and CIPFA are employed in public practice reflecting the fact that neither accountancy body has Recognised Qualifying Body 1 or Recognised Supervisory Body status (i.e. allowed to train and supervise their students/members to practise audit).

  • The percentage of members in public practice varied between 26% and 33% for the other accountancy bodies in 2002.

Gender of members: 1997-2002

Table 13 shows the percentage of female members of each of the accountancy bodies worldwide over the period 1997 to 2002:

ACCA % CIMA % CIPFA % ICAEW % ICAI % ICAS %
1997 27 17 21 17 -
1998 29 18 22 17 -
1999 31 19 22 18 -
2000 33 21 23 19 23
2001 35 22 24 19 25
2002 36 23 24 20 24

Table 13

Notes:

  1. ICAI did not analyse its members by gender before 2000.
  • The percentage of female members of each of the accountancy bodies varied between 20% and 24% in 2002 with the exception of ACCA where the percentage was 36%.
  • The percentage of female members of each of the accountancy bodies, with the exception of ICAI, has increased every year during the period 1997 to 2002.

A bar chart titled "Percentage (%) of female members 2002" shows the percentage of female members for various accountancy bodies (ACCA, CIMA, CIPFA, ICAEW, ICAI, ICAS). ACCA has the highest percentage at 36%, followed by CIPFA and ICAI both at 24%, CIMA at 23%, ICAS at 22%, and ICAEW at 20%.

Age of members: 2002

Table 14 shows the age range of the members of each of the accountancy bodies worldwide for 2002:

ACCA CIMA CIPFA ICAEW ICAI ICAS TOTAL
under 25 660 41 2 229 68 60
25-34 35335 12998 1876 26934 5131 3310
35-44 31209 20779 4069 35391 3766 3735
45-54 16838 13791 3804 27830 2619 3259
55-64 6571 6742 2296 18518 913 2339
65 and over 4803 5431 1474 14817 542 2463
TOTAL 95416 59782 13521 123719 13039 15166

Table 14

Notes:

  1. This data was not collected by ICAEW or ICAI before 2000.
  2. The age profiles of ACCA and CIMA have decreased due to the substantial growth rates of members admitted in the last 10 years.

The diagrams below analyse the age range of members of each of the accountancy bodies (excluding ICAEW and ICAI) for 1997:

ACCA Age Profile (1997): A pie chart showing the age distribution of ACCA members. - under 25: 1% - 25-34: 7% - 35-44: 35% - 45-54: 32% - 55-64: 19% - 65 and over: 6%

CIMA Age Profile (1997): A pie chart showing the age distribution of CIMA members. - under 25: 0% - 25-34: 9% - 35-44: 23% - 45-54: 34% - 55-64: 25% - 65 and over: 9%

CIPFA Age Profile (1997): A pie chart showing the age distribution of CIPFA members. - under 25: 0% - 25-34: 11% - 35-44: 22% - 45-54: 28% - 55-64: 29% - 65 and over: 10%

ICAS Age Profile (1997): A pie chart showing the age distribution of ICAS members. - under 25: 0% - 25-34: 15% - 35-44: 24% - 45-54: 25% - 55-64: 21% - 65 and over: 15%

The diagrams below analyse the age range of members of each of the accountancy bodies for the year 2002:

ACCA Age Profile (2002): A pie chart showing the age distribution of ACCA members. - under 25: 1% - 25-34: 5% - 35-44: 37% - 45-54: 33% - 55-64: 17% - 65 and over: 7%

CIMA Age Profile (2002): A pie chart showing the age distribution of CIMA members. - under 25: 0% - 25-34: 9% - 35-44: 22% - 45-54: 35% - 55-64: 23% - 65 and over: 11%

CIPFA Age Profile (2002): A pie chart showing the age distribution of CIPFA members. - under 25: 0% - 25-34: 11% - 35-44: 14% - 45-54: 30% - 55-64: 28% - 65 and over: 17%

ICAEW Age Profile (2002): A pie chart showing the age distribution of ICAEW members. - under 25: 0% - 25-34: 12% - 35-44: 22% - 45-54: 29% - 55-64: 22% - 65 and over: 15%

ICAI Age Profile (2002): A pie chart showing the age distribution of ICAI members. - under 25: 1% - 25-34: 4% - 35-44: 39% - 45-54: 29% - 55-64: 20% - 65 and over: 7%

ICAS Age Profile (2002): A pie chart showing the age distribution of ICAS members. - under 25: 1% - 25-34: 16% - 35-44: 22% - 45-54: 25% - 55-64: 21% - 65 and over: 15%

  • The age profile of ACCA members becomes younger and the age profile for CIPFA members becomes older over the period 1997 to 2002.
  • The age profiles of ACCA and ICAI members are younger than the age profiles of CIPFA and ICAS members in 2002.

STUDENTS

Students registered worldwide: 1997-2002

Table 15 shows the number of students of each of the accountancy bodies registered worldwide over the period 1997 to 2002:

ACCA CIMA CIPFA ICAEW ICAI ICAS TOTAL
1997 134732 61799 2323 11021 2500 1218
1998 156299 67320 2086 11720 2600 1252
1999 167668 71203 2079 11585 2667 1235
2000 174201 73761 2213 10727 2789 1652
2001 185392 75263 2322 10114 3008 2080
2002 205099 77923 2412 9648 3392 2327
% growth 52.2 26.1 3.8 -12.5 35.7 91.1
% average annual growth 8.8 4.7 0.8 -1.7 6.3 13.8

Table 15

Notes:

  1. Figures for ICAI are estimated for 1997 and 1998.
  2. The figures include ACCA affiliates and CIMA passed finalists (i.e. those who have completed their examinations but have not yet been admitted into membership).
  3. The figures for ICAEW, ICAS and ICAI refer to the number of students in registered training contracts.
  • The student membership worldwide of each of the accountancy bodies (with the exception of ICAEW) has increased over the period 1997 to 2002.
  • The most rapidly growing accountancy bodies in terms of student membership worldwide since 1997 are ICAS (13.8% on an annual average basis), ACCA (8.8%) and ICAI (6.3%).

A bar chart titled "Number of students worldwide 2002" shows the number of students for various accountancy bodies (ACCA, CIMA, CIPFA, ICAEW, ICAI, ICAS). ACCA has the highest number of students at 205,099, followed by CIMA at 77,923. The other bodies have significantly fewer students: ICAEW (9,648), ICAI (3,392), CIPFA (2,412), and ICAS (2,327).

Location of students: 2002

Table 16 shows the location (UK, Republic of Ireland and the rest of the world) of students of each of the accountancy bodies for the year 2002:

ACCA CIMA CIPFA ICAEW ICAI ICAS TOTAL
UK & Republic of Ireland 62524 54064 2378 9360 3392 2324
Rest of the world 142575 23859 34 288 - 3
TOTAL 205099 77923 2412 9648 3392 2327

Table 16

Notes:

  1. The location of students is based on the registered address supplied to the accountancy bodies. This may be either the place of employment or the place of residence.
  • 45% of students were based in the UK and the Republic of Ireland as opposed to the rest of the world in 2002.
  • The vast majority (at least 97%) of students of each accountancy body were based in the UK and the Republic of Ireland, with the exception of ACCA (30% of students based in the UK and the Republic of Ireland) and CIMA (69% of students).

Sectoral employment of students: 2002

Table 17 shows the sectoral employment of students of each of the accountancy bodies worldwide for 2002:

ACCA CIMA CIPFA ICAEW ICAI ICAS TOTAL
Public practice 60830 - - 9493 3316 2283
Industry and commerce 100899 69679 - 155 76 44
Public sector 38924 8244 2189 - - -
Other 4446 - 223 - - -
TOTAL 205099 77923 2412 9648 3392 2327

Table 17

Notes:

  1. CIMA’s figures were accurate at May 2003.
  2. CIPFA does not presently differentiate between those employed in public practice, industry and commerce and ‘other’. The table above assumes that they are classified as ‘other’.
  3. ICAEW, ICAI and ICAS presently provide combined figures for those employed in industry and commerce and the public sector. The table above assumes that they are classified as ‘industry and commerce’.
  4. ‘Other’ includes those students not in employment.
  • Very few students of CIMA and CIPFA are employed in public practice reflecting the fact that neither accountancy body has Recognised Qualifying Body 2 or Recognised Supervisory Body status (i.e. allowed to train and supervise their students/members to practise audit).
  • Almost all the student members of ICAEW, ICAI and ICAS are employed in public practice compared with 30% for ACCA, which operates across all sectors of the profession.

Gender of students: 1997-2002

Table 18 shows the percentage of female students of each of the accountancy bodies worldwide over the period 1997 to 2002:

ACCA % CIMA % CIPFA % ICAEW % ICAI % ICAS %
1997 47 38 42 41 45
1998 49 39 44 43 49
1999 50 41 46 43 51
2000 51 42 46 45 49
2001 51 42 47 45 54
2002 51 43 50 45 52

Table 18

Notes:

  1. ICAI and ICAS figures refer to the proportion of females in the student intake, not the total number of students.
  • The percentage of female students of each of the accountancy bodies varied between 43% and 52% in 2002.
  • The percentage of female students of ACCA, ICAEW and ICAS has been stable since 2000.

A bar chart titled "Percentage (%) of female students 2002" shows the percentage of female students for various accountancy bodies (ACCA, CIMA, CIPFA, ICAEW, ICAI, ICAS). ICAI has the highest percentage at 52%, followed by ACCA at 51%, CIPFA at 50%, ICAS at 46%, ICAEW at 45%, and CIMA at 43%.

Age of students: 2002

The diagrams below analyse the age range of students of each of the accountancy bodies worldwide for 2002:

Pie chart: ACCA Student Age Distribution 2002

The chart shows the age distribution for ACCA students: * Under 25: 43% * 25-34: 46% * 35-44: 9% * 45-54: 2% * 55 and over: 0%

Pie chart: CIMA Student Age Distribution 2002

The chart shows the age distribution for CIMA students: * Under 25: 18% * 25-34: 59% * 35-44: 17% * 45-54: 5% * 55 and over: 1%

Pie chart: CIPFA Student Age Distribution 2002

The chart shows the age distribution for CIPFA students: * Under 25: 16% * 25-34: 44% * 35-44: 29% * 45-54: 10% * 55-64: 1%

Pie chart: ICAEW Student Age Distribution 2002

The chart shows the age distribution for ICAEW students: * Under 25: 70% * 25-34: 29% * 35 and over: 1%

Pie chart: ICAI Student Age Distribution 2002

The chart shows the age distribution for ICAI students: * Under 25: 67% * 25-34: 32% * 35-44: 1% * 45 and over: 0%

Pie chart: ICAS Student Age Distribution 2002

The chart shows the age distribution for ICAS students: * Under 25: 71% * 25-34: 25% * 35-44: 3% * 45 and over: 1%

Notes:

  1. ACCA figures relate to the age profile of the student intake, not of the student body. * CIPFA (40% of students above 35 years of age) and CIMA (23%) have more mature students than the other accountancy bodies.

Student registration

The Review Board's document on 'Protecting the Public Interest' (February 2002) suggests that the predominant focus of the accountancy bodies is on outcome (i.e. by ensuring that their students receive maximum benefit from their respective training programmes).

Nevertheless there are differences in the respective educational qualifications of those entering the various training schemes, which is often a reflection of the selection policies adopted by different employers.

The following section deals with three aspects of the different educational qualifications of those entering the various training schemes offered by the accountancy bodies:

  • percentage of graduates
  • percentage of graduates with relevant degrees
  • percentage of graduates with first and upper second class honours degrees

It should also be pointed out that these figures are worldwide and do not reflect the fact that students outside the UK and Republic of Ireland often opt for a professional qualification as an alternative to a degree. In addition some of the accountancy bodies are developing degree programmes with universities which will alter these percentage figures in the future.

Percentage of graduates

Table 19 shows the percentage of graduates registered as students by each of the accountancy bodies worldwide over the period 1997 to 2002:

ACCA % CIMA % CIPFA % ICAEW % ICAI % ICAS %
1997 45 42 58 94 93 98
1998 47 42 57 95 90 97
1999 47 40 45 92 92 98
2000 50 41 58 93 94 92
2001 50 45 52 90 93 92
2002 53 46 54 91 93 94

Table 19

Notes:

  1. CIMA's registration process does not record all previous qualifications, only those for which students may receive exemptions. As a result, the percentage of graduates shown above only includes those students receiving exemptions and the overall percentage of graduates is likely to be higher.
  2. ACCA's figures relate to the percentage of graduates among students registering for professional examinations each year. * ICAEW, ICAI and ICAS have a greater percentage of students with a degree than the other accountancy bodies.

Bar chart titled "Percentage of students holding a degree 2002"

The bar chart shows the percentage of students holding a degree for various accountancy bodies (ACCA, CIMA, CIPFA, ICAEW, ICAI, ICAS). ICAS has the highest percentage at 94%, followed by ICAI at 93%, ICAEW at 91%, CIPFA at 54%, ACCA at 53%, and CIMA at 46%.

Percentage of graduates with relevant degrees

Table 20 shows the percentage of graduates with relevant degrees registered worldwide as students by ICAEW, ICAI and ICAS over the period 1997 to 2002:

ICAEW % ICAI % ICAS %
1997 45 75 62
1998 44 77 66
1999 45 79 70
2000 44 79 45
2001 46 75 28
2002 48 75 41

Table 20

Notes:

  1. Information is only available in 2002 for ACCA, CIMA and CIPFA which suggests that 39% of ACCA students, 50% of CIMA students and 23% of CIPFA students possess a relevant degree.
  2. The figures above refer to the proportion of students in the annual intake, not the total number of students.
  3. The percentage of relevant degree holders for ICAS decreased in 2000 and 2001 due to a large increase in students from English firms, which tend to recruit graduates from a wider range of disciplines.
  4. The accountancy bodies' definitions of a 'relevant degree' are as follows:
    • ACCA: Accountancy, Business
    • CIMA: Business Studies, Business Administration, Finance, Accountancy
    • CIPFA: Accountancy
    • ICAEW: Accountancy, Business Studies
    • ICAI: Accountancy, Business & Commerce, Finance
    • ICAS: Accountancy
    • ICAI has more students with a relevant degree than the other accountancy bodies.

Percentage of graduates with first and upper second class honours degrees

Table 21 shows the percentage of graduates by the classification of their degrees (the percentage of graduates with first and upper second class honours degrees) registered as students by ICAEW, ICAI and ICAS over the period 1997 to 2002:

ICAEW % ICAI % ICAS %
1997 77 93 82
1998 77 93 82
1999 77 91 82
2000 79 92 85
2001 75 91 82
2002 79 60 84

Table 21

Notes:

  1. Data is not available for ACCA, CIMA or CIPFA over this period.
  2. The approach to further education in Scotland differs from elsewhere in the UK and the Republic of Ireland. In the former students receive ordinary degrees if they complete their course of study after three years and honours degrees after four years. The figures for ICAS refer to all students receiving an honours degree regardless of classification.
  3. Figures for ICAI and ICAS refer to the proportion of students in the annual intake, not the total number of students. * The majority of students registered with ICAEW, ICAI and ICAS have first and upper second class honours degrees.

Pass Rates

The following section deals with two aspects of the examination process to determine if there are differences in the approach adopted and/or the relative success of students registered by each of the accountancy bodies:

  1. the percentage of overall passes at the final examination stage for the year 2002
  2. the percentage of first time passes at the final examination stage for the year 2002

Information is not generally available for overall passes at earlier stages of the examination process or in respect of students passing each stage of their examinations at the first attempt.

Table 22 shows the percentage of overall and first time passes at the final examination stage for the year 2002:

Overall passes % First time passes %
ACCA 47 52
CIMA 55 59
CIPFA 46 66
ICAEW 81 n/a
ICAI 71 76
ICAS 76 77

Table 22

Notes:

  1. The first time passes are a percentage of overall passes.
  2. ICAEW's Advanced Stage exams were introduced in 2002 and the majority of students were therefore sitting for the first time. * The percentage of overall passes for ICAEW, ICAI and ICAS and the percentage of first time passes for ICAI and ICAS are higher than the other accountancy bodies.

Income

Table 23 shows the income of each of the accountancy bodies over the period 1998 to 2002:

1998 £000 % 1999 £000 % 2000 £000 % 2001 £000 % 2002 £000 %
ACCA 27789 21.1 31057 21.4 34915 22.6 41020 24.0 45971 26.4
CIMA 20511 15.5 20991 14.5 23032 14.9 25567 15.0 27057 15.5
CIPFA 20023 15.2 21950 15.1 24763 16.0 28967 17.0 32776 18.8
ICAEW 48913 37.1 55790 38.5 53792 34.7 53987 31.6 44322 25.4
ICAI 6432 4.9 6434 4.4 7608 4.9 8105 4.8 10569 6.1
ICAS 8140 6.2 8780 6.1 10619 6.9 13040 7.6 13623 7.8
TOTAL 131808 100.0 145002 100.0 154729 100.0 170686 100.0 174318 100.0

Table 23

Note:

  1. The drop in ICAEW's income between 2001 and 2002 is due to its sale of ABG Professional Information. * ACCA (26.4% of total income) and ICAEW (25.4%) are the two largest accountancy bodies in terms of income in 2002.

Line chart: Income by accountancy body 2002

The chart shows the income of ACCA, CIMA, CIPFA, ICAEW, ICAI, and ICAS from 1998 to 2002. * ICAEW generally has the highest income, peaking around 55,000 in 1999 and declining to around 45,000 in 2002. * ACCA shows a steady increase from under 30,000 to over 45,000. * CIPFA shows a steady increase from under 20,000 to over 30,000. * CIMA shows a steady increase from under 20,000 to just under 30,000. * ICAS shows a steady increase from under 10,000 to over 10,000. * ICAI shows a steady increase from under 10,000 to over 10,000.

Staffing

Table 24 shows the number of staff employed by the accountancy bodies in the UK and the Republic of Ireland over the period 1997 to 2002:

ACCA CIMA CIPFA ICAEW ICAI ICAS TOTAL
1997 225 177 247 438 75 115 1277
1998 251 198 230 415 75 121 1290
1999 280 216 228 438 81 127 1370
2000 295 223 242 471 84 132 1447
2001 348 240 278 541 87 137 1631
2002 487 235 302 425 95 136 1680

Table 24

Notes:

  1. Figures for ICAEW do not include staff whose employment costs are borne by the Joint Monitoring Unit Limited (46 in 2002; 50 in 2001) and staff whose employment costs are borne by the Chartered Accountants' Trust for Education and Research (12 in 2002; 14 in 2001), although they have contracts of employment with the Institute.
  2. The drop in staff numbers for ICAEW between 2001 and 2002 is due to its sale of ABG Professional Information.

Line chart: Staff employed by the accountancy bodies 1997-2002

The chart shows the number of staff employed by ACCA, CIMA, CIPFA, ICAEW, ICAI, and ICAS from 1997 to 2002. * ICAEW generally has the highest number of staff, peaking around 540 in 2001 and then dropping to around 425 in 2002. * ACCA shows a strong increase, surpassing ICAEW in 2002 with 487 staff. * CIPFA shows a gradual increase from around 240 to over 300. * CIMA remains relatively stable around 200-240 staff. * ICAS and ICAI have the lowest numbers, both showing slight increases over the period, with ICAS around 115-136 and ICAI around 75-95.

  • ACCA (487 members of staff) and ICAEW (425 members of staff) are the two largest accountancy bodies in terms of staffing.

Table 25 shows staff costs as a percentage of total expenditure in 2002:

%
ACCA 33.7
CIMA 31.9
CIPFA 38.4
ICAEW 35.6
ICAI 38.0
ICAS 33.6

Table 25

  • CIPFA (38.4%) and ICAI (38.0%) have the highest staff costs as a proportion of total expenditure.

Bar chart: Staff costs as a percentage of total expenditure 2002

The bar chart shows staff costs as a percentage of total expenditure for various accountancy bodies (ACCA, CIMA, CIPFA, ICAEW, ICAI, ICAS). CIPFA has the highest percentage at 38.4%, followed closely by ICAI at 38.0%, then ICAEW at 35.6%, ACCA at 33.7%, ICAS at 33.6%, and CIMA at 31.9%.

Notes:

  1. ICAS is the only UK professional body to teach and examine all students.

THE REVIEW BOARD NOVEMBER 2003

  1. The DTI is currently considering an application by CIPFA for Recognised Qualifying Body status. ↩

  2. The DTI is currently considering an application by CIPFA for Recognised Qualifying Body status. ↩

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Name Key Facts and Trends in the Accountancy Profession 2003
Publication date 27 September 2023
Type Report
Format PDF, 224.1 KB
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