ACA is awarded by ICAEW (Institute of Chartered Accountants in England and Wales) and is structured as a training contract route, traditionally taken in audit firms. ACCA is awarded by the Association of Chartered Certified Accountants and is more flexible, with no compulsory training contract. Both lead to chartered status. ACA is dominant in UK audit and the Big Four; ACCA is dominant in UK SMEs, industry and internationally.
The headline differences
| Feature | ACA (ICAEW) | ACCA |
|---|---|---|
| Awarding body | ICAEW | ACCA |
| Designation | ACA, FCA after 10 years | ACCA, FCCA after 5 years |
| Training route | Mandatory ICAEW-approved training agreement (typically 3 to 5 years) | Flexible 36 months of relevant experience, no specific employer required |
| Number of exams | 15 modules | 13 exams plus ethics module |
| Typical duration | 3 to 5 years (set by training contract) | 3 to 7 years (flexible) |
| Cost route | Almost always employer-funded | Employer-funded or self-funded |
| Geographic dominance | England, Wales, large UK firms | UK and 180+ countries |
| Strongest in | Audit, large practice, listed company finance | SME practice, industry finance, international |
How the training route differs
The biggest practical difference is the training route. To qualify as an ACA, you must sign a training agreement with an ICAEW-authorised employer. This is typically a Big Four or mid-tier audit firm, although a growing number of industry employers are also ICAEW-authorised. You sit your exams during the training contract and qualify when you have completed both the exams and the required experience hours.
ACCA does not require a specific employer. You can register as a student independently, sit exams in any order (subject to module prerequisites), and accumulate 36 months of relevant experience before, during or after your exams. Your supervisor signs off your performance objectives, but they do not need to work for an ACCA-approved employer.
Exam structure
ACA's 15 modules are grouped into three levels: Certificate (six modules), Professional (six modules including a Business Planning case study), and Advanced (Corporate Reporting, Strategic Business Management, and a Case Study). The Case Study is widely regarded as one of the toughest exams in UK accountancy.
ACCA's 13 exams plus ethics module run across Applied Knowledge (3), Applied Skills (6), and Strategic Professional (2 essentials plus 2 options chosen from 4). Strategic Professional includes the SBL (Strategic Business Leader) integrated case study and SBR (Strategic Business Reporting).
Cost
For ACA candidates, training contracts almost always pay all fees, exam costs, study materials and tuition costs, plus a salary while you train. Self-funding ACA is unusual and very expensive.
For ACCA candidates, costs are commonly £3,000 to £8,000 in ACCA fees plus £4,000 to £10,000 in tuition. Many students are employer-funded, but a substantial minority self-fund or fund through Level 7 apprenticeships.
Career outcomes
Both qualifications lead to chartered accountant status and broadly similar starting salaries. The differences emerge in where each tends to lead:
- ACA: strongest in UK audit (Big Four through to small audit firms), large corporate finance, M&A, FTSE-listed company senior finance roles, and the City
- ACCA: strongest in SME practice, industry finance roles across all sectors, public sector, financial services, and international roles outside the UK
In senior roles (financial controller, finance director, partner) the qualifications are largely interchangeable; both are recognised as chartered.
International recognition
ACCA is significantly more internationally portable. It is recognised in over 180 countries and is the dominant chartered qualification in many Commonwealth and Asian markets. ACA is recognised internationally through ICAEW's reciprocity agreements, but ACCA is generally easier to use abroad without further conversion exams.
Which is harder?
Both are demanding. ACA exams are generally considered harder per paper, particularly the Advanced level Case Study. ACCA's Strategic Professional papers are also challenging and have lower pass rates than the earlier papers. The bigger driver of difficulty is the route: ACA candidates have to balance exams with a demanding audit-firm workload, while ACCA candidates often have more flexibility to space out exams.
Both qualifications let you run a UK practice. ACCA tends to be slightly more practical for small-firm and SME work. ACA is more useful if you intend to provide audit services or work with larger corporate clients. Check the practising certificate requirements before committing.
How to choose
Choose ACA if you have an offer from a Big Four or mid-tier audit firm, you want to specialise in audit or assurance, you intend to work with large or listed UK companies, or you want the prestige of ICAEW membership for a UK-focused career.
Choose ACCA if you do not have a training contract, you want flexibility over where and how you train, you intend to work in industry or SME practice, you might work internationally, or you want to self-study while in a non-traditional accounting role.
Key Takeaways
- ACA (ICAEW) requires a training contract with an authorised employer; ACCA does not
- ACA is dominant in UK audit and the Big Four; ACCA is dominant in SME practice, industry, and international
- Both are chartered and broadly equivalent in salary and seniority terms
- ACCA is significantly more internationally portable
- Cost depends on funding: ACA is almost always employer-funded; ACCA can be either
Frequently asked questions
Is ACA better than ACCA?
Neither is universally "better". ACA tends to suit Big Four, audit, and large UK corporate careers; ACCA tends to suit SME, industry and international careers. They are equally chartered.
Can you switch from ACCA to ACA, or vice versa?
Yes, with exemptions. ACCA members can typically convert to ACA via additional ICAEW exams; ACA members can convert to ACCA with exemptions for most papers.
Do employers prefer ACA or ACCA?
Audit firms and larger UK practice firms often prefer ACA; SME practice and industry employers usually accept either. International employers more often recognise ACCA.
Which qualification pays more?
Pay differences are driven much more by sector and employer than by qualification. ACA-qualified accountants in Big Four and large corporate roles typically earn more in early career than ACCAs in SME or smaller industry roles, but ACCAs in financial services and senior international roles often outpace ACAs.
How long does each take?
ACA is typically 3 to 5 years (constrained by the training contract). ACCA is typically 3 to 7 years (more flexible).