The Next Gen ACA: What Does It Mean For You?

Every 10 years or so, ICAEW undertakes a thorough review and revision of the ACA qualification to ensure that it remains relevant to students and employers.

The changes announced as part of the most recent review (which will lead to the creation of the "Next Generation ACA") are some of the most significant changes to the qualification that we have ever seen. This article reviews the changes and how these affect you.

As usual, ICAEW have allowed a substantial period of time for the "old" modules to continue to run, so students who do not wish to switch across to the Next Gen version of the ACA will have a few years to complete their qualification (further details coming up below).

Disclaimer

This post is based on the information available on the ICAEW website at the time of writing as well as information produced by ICAEW during a tutor-only launch debrief provided to all ICAEW Partners in Learning in August 2024. Sometimes when new versions of the ACA are advertised and launched, information can become out of date or ICAEW may make minor changes so please always confirm the position with your Training Manager and/or ICAEW before making any significant decisions about your training path. As such, this article should be treated as general guidance only.

The Good News

Perhaps the best news for students electing to switch to the Next Gen ACA is that there will be more "case study" modules than before.

Both modules at the Advanced Level will have "case study" modules with sets of Advance Information released before exam day to give students a heads-up on what is going to be tested.

There will also be a new case study module (called Fundamental Case Study) at the Professional Level, which will be the first time that Professional Level students have benefited from a case study paper, again, with a set of Advance Information released before exam day.

This will have the further benefit of allowing students to get used to a "case study" format before they reach the Advanced Level, reducing the "shock factor" that can affect some students under the existing ACA when, after completing 14 exams of a different format, they are suddenly presented with a very different final exam (and one that causes many students to face the frustration of getting stuck at the final hurdle!).

We think this is great news because students (and tutors!) will have more of a heads-up on likely content than under the old structure.

Another welcome change is that the Business Planning papers will be phased out from September 2026, so that means goodbye BPT! (You will not be missed.)

There is also good news for students who may have accumulated a few fails at the Professional Level and Advanced Level under the existing ACA. According to the ICAEW website, "The exam attempts will be reset when a student transitions to the Next Generation ACA modules", potentially giving a student more attempts before they hit the 4-attempts-maximum rule. Students nearing their maximum in 2025 and early 2026 may therefore decide to switch across to the equivalent Next Gen module and reset their 4-attempt limit.

The Bad News

As always when a new version of the ACA is launched, the first students to take the new modules will not be able to draw on as many past papers as students taking the "old" ACA. It will take a few years for these to be created and taken by students.

This also means that tutors will need some time to get familiar with how things are tested.

Some students may therefore prefer the familiarity of existing arrangements and so could decide to continue on their existing path for as long as possible.

Dates For the Final Sittings of the Current ACA Modules

The final sittings of the current ACA modules will be as follows:

Certificate Level: March 2026

Professional Level: September 2026

Case Study: November 2026

Corporate Reporting: July 2027

Strategic Business Management: November 2027

It is worth noting the arrangements at the Advanced Level because the current Case Study examination will be terminated a full year before Strategic Business Management ... yet the current examination rules mean that students cannot sit Case Study unless it is taken at the same time or after Corporate Reporting and Strategic Business Management.

The 2027 sittings of Corporate Reporting and Strategic Business Management will therefore be sittings for resit candidates who must at least have attempted these exams by November 2026 to be eligible to sit Case Study at its final sitting.

Dates For the First Sittings of the Next Gen ACA Modules

The first sittings of the Next Gen ACA modules will be as follows:

Certificate Level: September 2025

Professional Level: March 2026

Advanced Level: July 2027

In practice, students starting the Professional Level in 2026 will have to take the Next Gen Advanced Level unless they quickly complete the Professional Level in early 2026, leaving time to take the existing Case Study, Corporate Reporting and Strategic Business Management papers at the November 2026 sitting.

However, this strategy would leave candidates with only a single attempt at Case Study (November 2026), a single retake attempt at Corporate Reporting (July 2027) and two retake attempts at Strategic Business Management (November 2027).

As such, we would expect to see all candidates who start the Professional Level in 2026 to continue with the Next Gen version of the Advanced Level.

Students who start the Professional Level in 2025 will have more flexibility as the existing Professional Level modules will continue all the way through to September 2026.

Transition Rules for Candidates Part-Way Through the Existing ACA

The transition rules which will apply if students have not completed a particular Level by the time of the final sitting of the existing modules are quite complicated.

We have summarised the rules below but we strongly recommend that you also consult the ICAEW explanation available here.

Certificate Level: Transition Rules

There will be modules similar to the current Accounting, Assurance, Law, Management Information and Principles of Taxation modules (although with different names and syllabus changes). Students will need to pass either the old style or Next Gen equivalent of these modules and they can carry across passes under the old style modules.

For example, if they have passed the Accounting old style module, they do not need to pass the Next Gen equivalent (which will be called Accounting Fundamentals).

The complication relates to the current Business, Technology and Finance module which will be phased out on 31 March 2026. If a student has not passed this module by that date, they will have to take the new Sustainability and Ethics module instead.

Other candidates can take the Sustainability and Ethics module as soon as this is available in 2025 i.e., they can decide not to study Business, Technology and Finance at all.

There is no change to the requirement to pass 6 modules at the Certificate Level and the exams will remain in a multiple choice format (with some scenario-based questions for certain modules, as is the case now).

Professional Level: Transition Rules

The changes at the Professional Level are more substantial with a new Fundamental Case Study module being created. But there will be equivalent modules (with revised names and content) for Audit and Assurance, Business Strategy and Technology, Financial Accounting and Reporting, Financial Management and Tax Compliance. As with the Certificate Level, students only need to pass either the existing or Next Gen equivalent of each of these modules.

The Business Planning papers will be phased out at the September 2026 sitting. Students who have not passed one of the existing Business Planning modules by that date will have to pass the Fundamental Case Study.

Students can opt to take the Fundamental Case Study as soon as this is available in 2026, thereby avoiding the Business Planning papers entirely.

Advanced Level: Transition Rules

The transition rules at the Advanced Level are the most complicated of all so we strongly recommend that you check the ICAEW information available here.

The complications are caused by the fact that there will only be 2 modules at the Advanced Level (both of which will be case study modules with sets of Advance Information). The new Technical Case Study will replace Corporate Reporting and the new Strategic Case Study will replace the existing Case Study exam.

This means that ICAEW has to decide what to do in relation to the existing Strategic Business Management module as there will be no equivalent for this. The ICAEW website states that "Students must pass Strategic Business Management (SBM) by the November 2027 sitting, otherwise they may be required to undertake additional learning".

If a student has passed SBM, they can switch across to the new Technical Case and Strategic Case papers to complete the qualification.

But they cannot switch across to those papers if SBM has not been passed. Exactly what is meant by "additional learning" is not yet clear but it seems that this "additional learning" would have to be substantial and equivalent to a full Advanced Level module; otherwise students would be able to reduce the amount of work needed to pass the qualification by repeatedly failing SBM or not even sitting SBM before it is phased out, which does not seem fair.

Another issue which needs clarification is what happens from 2028 onwards (when SBM has been phased out and so is not even an option for students). Will it be sufficient for students to pass only the 14 modules that will then be all that is on offer?

Conclusion: A Positive Change

Overall, as we said above, the move to the Next Gen ACA appears to be a positive step.

We will of course incorporate all the changes into our Certificate Level, Professional Level and Advanced Level subscription packages, commencing in mid-2025 with the launch of our Next Gen Certificate Level courses and resources.

For ease of access, students on our subscription package for a particular Level of the qualification will have access to our content for both the existing modules and the Next Gen modules so that they can pick and choose what to study, based on their exam choices. This may also allow students to compare the content of equivalent modules before deciding which one to sit (subject to any employer requirements).

My book, The ACA Playbook, will also remain applicable and valid since my revision tips and advice on how to study effectively and reduce exam anxiety will continue to be relevant even after the changes to the qualification are made. Check out the audio edition of The ACA Playbook available here.

The next evolution in the ACA is very welcome ... let's make the most of it!