When a new Registered Training Office (RTO) is getting started, there are a few points to consider. Usually - what experience is needed, what study leave is awarded and what is the cost. These are the usual questions that arise. RTOs covers both training in Practice and training in Industry.
What are the requirements to become a RTO?
We required that one member of the Institute (ACA or FCA) act as the training manager/ partner. The role takes overall responsibility for overseeing the training contract. Day to day management can be overseen by a mentor.
Experience has to be sufficient in depth and range to give trainees skills in Financial Reporting, Professional Values, Business Environment and one area from Finance, Tax, Audit or IT.
An outline of the training policy on study leave, and payment of student fees should be available to Chartered Accountants Ireland.
How many students can a RTO train?
A student quota is calculated using the number of qualified accountants within the company. For further information contact Training Support Unit.
How do I apply?
Complete and return the application to train to the Training Supoort Unit. Application forms are found under Useful Documents section
What happens next?
You will be contacted by the Training Support Unit to arrange the authorisation meeting.
What do I need to have ready for the authorisation meeting?
Ideally a job spec for the potential trainee, with an outline of the range of experience you will give in year one, two and three of the training contract. An outline of the supervision structures you will have in place and an overview of your business. If you are in practice information on client base is relevant and in business an outline of the business you are in, and turnover.
How will I be notified if we have been successful?
You will received written confirmation of your award, with the Excellence in Training certificate.
Is there a cost to become an RTO?
No fee to apply or keep your registration.
How is registration renewed?
The Training support unit meets with all registered training offices on a 3.5year cycle to renew authorisation. Following the initial authorisation there is a one year follow up, and then the rto goes to the 3.5 year cycle.
Who can act as a mentor?
The Training manager/ Partner can decide to nominate a mentor in the business to oversee and sign off the training experience on the CA Diary. Any member of IFAC and this includes all ACCA, CPA, CIMA as well as ACA & FCAs.
Do I have to give audit experience?
No, audit is one area of four from which the trainee needs one area of experience in depth to qualify.
Are there set amount of days experience that I have to give trainees in different areas?
No, the trainees are using a competency based model. They have a list of competencies that they need to evidence, showing depth and progression over their training contract.
What is expected of the RTO on an annual basis?
The trainees CA Diary is reviewed twice a year, with the mentor submitting a six monthly review.
What other supports are available to the RTO?
We host a free job page called the Training Vacancies list that you can post vacancies for trainees that you can avail of.
What study leave do I have to give?
The Training Package document found under the Useful Documents page. It outlines best practice for Practice. RTOs training through Industry are required to outline their study leave package at the time of the authorisation visit.
As a new applicant, we haven’t trained or recruited trainees before. What are our first steps?
First draft a brief job description, outline what the trainee would be involved in the first six months, year one, year two and so on. You may need to consider job rotations in your business. This document will then assist you draw up a job spec and a training plan. Using the CA Diary help sheet called CA Diary Quick Guide to structure the areas of experience.
Further queries should be directed to Hugh Carroll, Training Support Unit at 01 637 7325 or firstname.lastname@example.org