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Survey of ACAs reveals leadership and commercial skills at the core of FDs role.

Ref. PR-00747

A survey by the Institute of Chartered Accountants in England & Wales (ICAEW) has highlighted the range of skills ACAs bring to businesses. The findings also benchmark the various competencies needed by ACAs at key stages of their careers.

In the first Career Benchmarking Survey of ICAEW members in business, ACAs were asked to rank the skills and competencies they believe are most important for someone to be able to effectively fill a role like theirs. Overall, respondents thought commercial skills (23%), closely followed by communication skills (22%) and technical ability (20%), were deemed most significant.

Unsurprisingly different emphasis was place on competencies according to role. A focus on leadership skills were mentioned by 79% of Chief Executives and Managing Directors. Strategic vision (57%), commercial skills (56%) and communication skills (54%) were also important. Fewer at this level mentioned technical ability as a key requirement.

In contrast, Finance Directors and CFO's thought commercial skills were crucial (73%), alongside leadership skills (61%). For those working their way up the career ladder in the roles of Finance Managers, technical ability, communication and commercial skills were all important. In what is a complicated area, tax specialists overwhelmingly thought technical ability was the most important skill (91%) required to fulfil this role.

From the point of view of post qualified experience newly-qualified members (those with less than 5 years experience as an ACA) saw communications skills (37%) and technical ability (30%) as most important competencies whilst those with more experience (20+ years) thought commercial skills were most important.
Gender also played a part with women placing more emphasis on communication skills (33%) whereas men thought commercial skills were crucial (26%).

Michael Izza, Chief Executive of the ICAEW, said: 'The survey highlights what a broad-based business and finance qualification the ACA is and I am delighted to see the range of skills cited by our members as being important to the various roles they are in. The content and long term relevance of the ACA to the business environment sets it apart from other qualifications as well as giving members the skills they require throughout their career.'

Phil Sheridan, UK Managing Director of Robert Half Finance & Accounting, commented: 'Whilst industry knowledge, experience and expertise is important, employers today want to find the right mix of technical know-how and the 'softer' skills such as communication skills and leadership ability.   It is clear from our survey that ACA finance professionals are well placed to play a significant role in influencing business decisions and guiding an organisation.'

Out of all the sectors, those working in investment management thought sector knowledge was important (11%) whereas those working in retail and wholesale felt it to be least important (1%). 

The Career Benchmarking Survey interviewed over 3,000 member of the ICAEW who work in business.

Contact Us

For further information please contact:

Michelle Whitman
Robert Half International
Tel : 020 7331 2222
Email : michelle.whitman@rhi.net