Practical Experience Framework
Why are the technical and enabling competences revised from the existing practical experience framework?
The technical and enabling competences are revised taking into account the requirements as stipulated in the IFAC's International Education Standards and the feedback from employers and practitioners to ensure the prescribed competences remain fresh and relevant for students to gain the professional knowledge, skills and values required of a prospective CPA.
What is the basis of the six broad areas and/ or the 18 elements in the Proposed Technical Competence Grid?
The Proposed Technical Competence Grid is formed on the basis of the requirements of the IFAC's International Education Standards and the feedback from employers and practitioner from different industries. The HKICPA recognizes that students working in different industries can demonstrate technical skills depending on their role in the different work environment.
The following table shows the technical competences of practical experience with six core areas and 18 elements:
FAR – Financial Accounting and Reporting
AA – Audit and Assurance
T – Taxation
MF – Management Accounting, Finance and Financial Management
GRI – Governance, Risk Management and Internal Control
IBR – Information Technology, Business Strategy and Management, and Insolvency and Reconstruction
Can a student freely select any four elements from the 18 elements of technical competences?
Although provision is made for a wider range of eligible practical experience, retaining a common core in the Financial Accounting and Reporting is essential to becoming a professional accountant. As such, students are required to demonstrate competence in one of the elements in the area of Financial Accounting and Reporting. Other than that, students can select any other three elements of technical competences based on their scope of work.
What are enabling competences?
Enabling competences are similar to "generic competencies" under the existing practical experience framework. There are two areas (i) Professional Values, ethics and attitudes, and (ii) Professional skills with seven elements of enabling competences altogether whereby students are required to demonstrate skills in all the enabling competences. These skills are multi-disciplinary and underpin all roles and behaviours required of the professional at work in any accounting related capacity.
The following table shows the enabling competences of practical experience with two areas and seven elements:
What does "input based" and "output based" refer to?
Practical experience requirements are a combination of time (input based) and competences (output based). "Input based" refers to the time requirements whereas "output based" refers to the competence requirements.
What are the details of the 18 elements of technical competences and seven elements of enabling competences?
The learning outcomes of the 18 elements of technical competences and seven elements of enabling competences are outlined in the Practical Experience Competence Grid. Please click here for the details.