The revised FAE was introduced in Autumn 2009 (with first examinations in Autumn 2010). The objective of the FAE is to assess candidates' total competency. This examination completes the qualification process and marks the start of a career as a Chartered Accountant; a career of life-long learning.
The final examination elements are:
FAE Core: The core syllabus will be examined over two days and comprises several case studies. Candidates will be expected to integrate knowledge, experience and skills across all technical areas when answering these cases. In addition, candidates will be expected to complete a continuous assessment assignment in the area of Advanced Application of Financial Reporting Principles.
FAE Elective: Three electives are currently on offer: one each in the areas of Audit & Assurance, Taxation and Advanced Performance Management
Students should also note that completion of the Audit & Assurance elective will be a pre-requisite for obtaining an audit certificate. Additionally, the Taxation elective forms Stage 1 of the Chartered Tax qualification. However, these modules will also be available to take post-FAE, as part of CPD requirements.
The FAE Competency Statement 2010/2011 is now available.