icaew case study exam fee

Jag's Journey

Sharing my life experiences including the Associate Chartered Accountant (ACA) qualification

ICAEW Case Study Made Easy – How to Pass ACA Case Study

What was my first impression of the ICAEW Case Study? Weird. This exam is completely different to the 14 ACA exams prior which actually have new content to learn. The ICAEW Case Study was completely unknown to me until I came to study for this exam. It was not really an exam that was spoken about at all beforehand. For this reason, I have written this blog to give others an insight into the ICAEW Case Study exam with tips to pass . If you would like to know how much preparation is needed for the ICAEW Case Study, click here .

I will also share a few of my ‘ help sheets ‘ for free to those of you who have kindly joined my journey. These sheets can be tailored to your ICAEW case study, printed out and taken into your exam as it is open book. It isn’t too late – join now! You will receive these within three/four days of joining at 6pm (UK).

Check out my  YouTube video  if you would prefer watching to reading!

Table of Contents

Introduction to the icaew case study, icaew case study materials, icaew case study exam format, executive summary, requirement 1, requirement 2, requirement 3, different ways to fail the icaew case study exam, icaew case study marking key and timings, make it easy.

To reiterate, there is no new content that you need to learn to pass the ICAEW Case Study. Passing this exam is more skills based than anything. According to ICAEW , students need to demonstrate they “ can provide advice on complex business issues in the form of a written report “. In order to do so, you will have to analyse both financial and non-financial data as well as portray ethical awareness to form conclusions and recommendations.

In terms of difficulty , the calculations involved are quite basic such as percentage change and there is minimal technical knowledge required. You will even already know roughly 40% of the exam that is going to come up. The remaining 60% is somewhat predictable too based on the case study information you are given.

If you are reading about the ICAEW Case Study for the first time, you are probably thinking “ this is great! “. I know I was. However, hold your horses as you might start to smile slightly less as you continue to read on.

The way the ICAEW Case Study works is that prior to the exam (roughly a month before I think it was) you should get sent the Advanced information (AI) . This is 40-50 pages of information – it is everything we need to know about the client before the current financial year. Do not worry about researching the industry outside of the AI as there is plenty of information including prior year financial statements and a few news articles within this. My case study was during COVID-19 and there were not many extra marks available regarding this.

Using this AI, you can really get to know the fictional client. You should understand the history of the company, the products the client sells, the pricing, competitors, opportunities, etc. Furthermore, you can perform a SWOT analysis, PESTEL analysis and all sorts.

The surprise aspect of the ICAEW Case Study comes in the exam where you will get 10-15 pages of new information. However, this information is unlikely to be a total surprise as the AI will point towards this. For example, my ICAEW Case Study was about a magazine company. The AI mentioned the possibilities of exploring different consumer markets, different prices for magazines, a different type of magazine, etc. In the exam, out of all of these options price changes was one of the questions which came up so I was somewhat prepared.

The way I see it is that the AI is historical and the exam information is like meeting with your client for a new financial year and they update you on how it went. You will get the latest financial statements, hear of actual potential strategies and opportunities as well as get provided some newer news articles.

Every ICAEW Case Study will have the same exam format as follows:

For more information regarding each of these key exam areas, see the tabs below. As this is a report, your ES and requirements will need to be numbered throughout. My ‘help sheet’ will assist with this.

This first thing to do before even reading the exam question is to start the executive summary. You will need to address the external report to the client from your accountancy firm as per the Case Study. Following this, you should also write a disclaimer regarding liability. Doing this will get you a tick in the overall assessment criteria and my ‘help sheet’ has this all set out.

The purpose of the ES is to provide a balanced summary of all the three requirements. If someone did not have the time to read your full report, they should be able to pull out all the key information from this executive summary. The ES is standard for any ICAEW Case Study exam and is part of the 40% where you know what will come up.

You cannot simply copy and paste the conclusions from your requirements otherwise you will not get any marks . This could also result in you failing, see below. The ES needs to be slightly more detailed than the conclusion.

The ES is on a separate tab in the ICAEW software to the requirements so there would be a fair bit of flicking back and forth between the tabs to do this properly. The way I went about doing this was copying each of my requirement answers into sticky notes/comments on the exam exhibits. I would then paste these into the ES, remove less important information and reword parts to ensure I gained marks.

Timing is key in this exam so I would recommend to avoid leaving the ES until the end. Write it up after each requirement when the points are fresh in your mind.

Requirement 1 is part of that 40% where you know what question will come up. There is a small part of this requirement that is unknown but using the case study you can form an educated guess for what might come up.

The first thing you will need to do for every requirement is to create an appendix . These will be fairly basic calculations using information from the exhibits. Requirement 1 is all around financial statement analysis , in particular financial performance.

You already have the financial statements for the year prior to the exam statements in the AI. This will be used for the YOY comparison which is essentially what this R1 appendix is. You will need to have a movement column (£) and a % change column.

The software can be a pain when it comes to this requirement. This is because once you have produced the appendix, you will need to discuss the movements in the year and explain why this has happened using information in the exhibits. Again, this is fairly predictable and you can for example prepare reasons for increase/decrease in revenue beforehand. However, given the software you would need to keep scrolling up and down to see the numbers.

This is why my ‘ help sheets ‘ are useful as one addresses this issue. See a preview below. I took this in with me printed out as part of my open book file. As I was populating the appendix in the software I was writing all the numbers out too. This prevents having to scroll constantly and if you practice, it will save you more time than it wastes.

The less obvious aspect of this requirement will relate to a proposed financial adjustment. For example, a stock write off, bad debt issue, to do with cash flow or more. Do not worry too much as the AI will hint towards the potential issues.

As stated in requirement 1, you will need to produce an appendix made of fairly straightforward calculations. This should be the calculations behind evaluating a potential strategy or opportunity. For me, this was the potential revenue for different magazine pricing strategies. This was somewhat predictable so I had practiced calculations beforehand.

The rest of requirement 2 tends to have the same structure :

• Is the strategy or opportunity is worthwhile given your numbers?
• The assumptions would then need to be assessed. There will be benchmarks given in the AI and in the exam which you can compare these assumptions to.
• Commercial and ethical considerations based on the exam information would be made. For example, does this strategy align with the client’s values as per the AI.
• Conclusions and recommendations would need to be made.

Always state “any changes in the assumptions will affect the results of the model” for any ICAEW case study – it is an easy, guaranteed mark!

The shortest appendix will be needed for this requirement. It should be a few simple calculations to assess a potential strategy or opportunity. In all honesty, sometimes the lines can get slightly blurred between what could come up in requirement 2 or requirement 3.

As with 2, requirement 3 has roughly the same structure from ICAEW Case Study to Case Study:

• Financial impact using these calculations
• Strategic and operational issues
• Business trust and ethical issues
• Conclusions and recommendations

The recommendations can be quite straightforward such as carrying out market research. If there is another company involved, carry out due diligence on them.

Within all requirements , wider business context points are required to be sprinkled in throughout. These can be gathered from the AI and prepared beforehand but then ensure to add them in where relevant.

This is probably the most horrible aspect of the ICAEW Case Study. Either this or the fact that it is 4 hours long. What surprised me is that you can still fail this exam even if you achieve the actual pass mark. Yes, you read that correctly. Even if you reach the 50% pass mark, you can be failed for any of the other reasons outlined below .

• As mentioned, achieving less than the 50% pass mark.
• For not having complete coverage of the requirements – for example, if you scored 100% on R1 and R2 but then 0% on R3 or have a missing ES this would be seen as an incomplete report and you will fail. This is why time management in this exam is crucial which I touch on later and the ‘help sheet’ should help with.
• Achieving less than 50% in each individual requirement and being deemed insufficiently competent often. Not only do you need 50% overall but you need to pretty much be passing each requirement. You really need to show you can produce a strong report here.
• Missing out parts of requirements across the ICAEW Case Study. If you score above 50% in all requirements but have missed out 4-5 skills assessment boxes, you will fail. There cannot be gaps in the report. A fail could also be for writing poor conclusions and recommendations throughout.

Essentially, the examiner wants to see that you can write a complete report properly. If you do not do as ICAEW say in this exam you will be punished and you will fail.

I could honestly spend a very long time talking through the marking key. However, I do not want to get too bogged down with this in this blog. You will go through this in a LOT of detail once studying for this exam. I will therefore cover this at a high level. If you want further details about the ACA ICAEW Case Study marking key, click here where I have delved into this much more.

The main thing to know is that there are skilled assessment boxes (total of 40): ES (6); each of the three requirement (11); and one final box for the overall assessment criteria. The mark per each box is 0-6 so the maximum mark is 240 for this exam (40 x 6). Each box will have six points/’diamonds’ that need to be made. For example, one point/’diamond’ is stating revenue increased by x amount/(y %) based on the case study numbers. This will make more sense once you start studying for ICAEW Case Study.

From the table above you can see you do not benefit for hitting six points/’diamonds’ rather than four. You waste time but then it is difficult to know whether a point you make is in the skills assessment box or not. Through these boxes you demonstrate that you can: assimilate and use information; structure problems and solutions; apply judgement and form conclusions and recommendations.

You may be slightly confused as the marking key is unlike any others. There are no predetermined correct answers . In fact, only after assessing the first 100 say papers are the skills assessment boxes points/’diamonds’ put together. You need to write what everyone else writes so state the obvious and work together when preparing beforehand!

To briefly touch on timings, the ICAEW Case Study is four hours as mentioned. Believe it or not but it is very time pressured . There are many different ways to plan your time. I will share how I did it on one of my ‘help sheets’.

This blog title is definitely not click bait. These ‘help sheets’ will definitely give you a good idea of how to approach the ICAEW Case Study.

In addition to this, people do say you cannot revise for this exam given there is no content. However, I do definitely think you can prepare and you will need to go through the AI beforehand. Like I said though, do not go overboard with this as the AI should have all the information you need. Find out exactly how much preparation is needed to pass here . You should also familiarise yourself with the ICAEW software beforehand.

Practice for this exam to master the technique and timing. You may be wondering how and you probably will not like the answer. I would recommend practicing mock exams , as in previous ICAEW Case Study exams. This is tough as sitting one four hour exam is bad enough. Additionally, you would have to read AI’s that are not relevant to your exam and it is a lot of work. It is worthwhile though to do a few!

Another way to practice is through ACA Simplified / Paradigm Shift . Once the AI is released, this company will use the AI to predict around 5 different exams for your case study. It is fairly expensive but if you do want to practice on your own case study it is worthwhile. You can take the mark schemes in with you too as it is open book so this can potentially help in the exam if a similar question comes up. I mentioned above that requirement 2 and 3 have simple calculations but these can actually sometimes be tricky depending on the case study. ACA Simplified can help with this.

And there you have it! This was a very lengthy blog so if you found this useful it would be great if you could leave a comment 🙂

I thought I would also throw in a video of my final ICAEW exam day (Case Study) in November 2020 – I am sure many of you can relate to these feelings!

20 comments

It’s all just come screaming back to me, great summary! Excited to see what your helpsheet is like!

Thank you for reading Abs and I hope you like them!

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A very informative blog for someone starting to prepare for Case Study! Now I know more about what I’m in for, lol. Thank you for the tips and helpsheets!

You are welcome Anne – I am glad to help!

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Thank you for providing the information relating to Case!

I was wondering what made you use ACA Simplified/Paradigm Shift compared to ACA Masters to help with your analysis of the AI?

Hi Guv, you are welcome – others I knew who had sat Case previously used ACA Simplified/Paradigm Shift and highly recommended them. At the time of my studies I actually wasn’t that aware of ACA Masters. They also have great reviews though!

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Loved this post. Very informative.

I was wondering what you think is the best way to use the ACA simplified mocks? Obviously sitting the other 2 advanced level exams, there isn’t a lot of time to practice all the mocks to time so I was wondering if you have any tips?

Also, is it possible for me to have your help sheets?

Thank you!!!

You are welcome and in terms of the mocks, I scanned through them and at the time was able to print them out and take in with me. I think this may have changed since I sat them so not sure if this is possible now. I would advise really running through the calculations and understanding them for requirement 2 and 3 – write these out in a way that is easy to understand and could be applicable to your real exam. Definitely is unmanageable trying to do them all but it is worth going through them and seeing if you would be on the right track if similar questions came up in the exam. I have mistakenly just emailed you the audit notes – in terms of the help sheets you will need to join my journey at http://www.jagsjourney.blog/contact and they will be with you in a few days. All the best!

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October 2021

Kieran Doe has some top advice on how to pass the ACA case study exam. And he should know – he scored 92% in it!

The Case Study is unlike most other ACA exams as there is very little technical content to learn. So students who are used to memorising technical concepts and them ‘smashing out the question bank’ will be perplexed when they are presented with over 40 pages of advance information and a case study exam paper seemingly testing very little from their other 14 exams.

However, the Case Study is actually very similar to other ACA exams in that the three exam requirements are always the same, as are the mark schemes. By appreciating the consistency in the exam requirements and the mark schemes, you can develop your exam technique to ensure that you tick all the ‘boxes’ on the mark scheme and complete your ACA qualification in style.

I believe that there are five steps to case study success:

Step 1: Understand how Case Study is marked

The marking process is objective: there is a set marking key for each requirement and if your report includes a point which is on the mark scheme, you will get the mark. While it can be frustrating that making a valid point which is not on the mark scheme does not score a mark, it does mean that the marking process is very transparent and easy to navigate.

Each requirement has 11 boxes and you need to pass six boxes on each requirement.

The Executive Summary has seven boxes and you need to pass four boxes. To pass a box, you need to get three of the points included in that box. You need to pass each requirement and the Executive Summary in isolation. Have a look at some recent mark schemes to see what I mean about boxes and points.

Step 2: Understand what each of the three requirements involve

As explained above, the three requirements are broadly the same in each Case Study exam.

• Requirement 1: Analyse the financial performance of the company.
• Requirement 2: Evaluate a financial proposal.
• Requirement 3: Evaluate an opportunity or issue.

The mark scheme for each requirement is also the same. This makes the exam predictable and by having a look at recent past papers, you will soon start to see the consistency in the requirements and build an understanding of what each requirement involves.

Step 3: Understand what information is provided in the AI and what is provided in the exam

In addition to the exam requirements and mark schemes being in the same format every time, the AI is also in the same format every time (albeit a different business with different issues).

By working through past case study exams, you will soon start to see that the AI always has the same exhibits with very similar types of information; industry background ; prior year accounts; customers; suppliers; strategic goals and risks. Likewise, the exams include the same exhibits with very similar types of information.

Having completed an exam, it is important to mark it and reflect on what information came from the AI and what came from the exam exhibits. You will soon start to see that most mark scoring points come from the exam exhibits rather than the AI. You will also learn which types of points tend to be rewarded in each box.

Step 4: Learn the Case Study exam technique which ensures that you hit all the boxes on the mark scheme

Having understood what the exam requirements are and how they are marked, you need to develop an exam technique which ensures that your report includes the points which are included on the mark scheme.

Fortunately for you, we have developed an exam technique which does this and it has resulted in two students wining the prize for the highest mark in the world (90% and 92%), another winning a prize for the highest mark in their region (88%) and another achieving the highest mark in their firm (81%).

Given the practical nature of the exam technique, it is not possible to explain this in text so click the link for a tutorial showing you exactly how to ace Requirement 1 and get a prize-winning mark – https://youtu.be/unvyelEwv6y

Step 5: Practice mock exams to master your exam technique

By this stage in your ACA journey, you will already know that question practice is key to success. Having learn the prize-winning technique, you then need to practice mock exams on your case study business under exam conditions so that you master the technique and sign off your ACA in style.

• Kieran Doe is a Senior ACA tutor at ACA Masters

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FAQ ICAEW Dual Membership Scheme

What are the unique benefits of obtaining this dual membership?

The key benefits include that the students are getting an unique opportunity to gain local recognition to work as an accountant in Sri Lanka from CA Sri Lanka and international recognition from ICAEW if they are looking to gain experience from overseas or migrate. ICAEW has offices around the world and a networks of members across 148 countries. ICAEW members will also have access to faculties offering up to date advice and helping their professional development in 11 specified areas, practical and skills focused qualifications, which are in demand with employers, opens up doors to organisations of all sectors and sizes and high earning potential.

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The ICAEW registration fee will be waived off for students who register with ICAEW through the dual membership scheme with CA Sri Lanka.

What are the examinations that are required to complete at CA Sri Lanka to be eligible for the dual membership scheme?

CA Sri Lanka students are required to complete Business Level I, Business Level II, Corporate Level and SL2 - Corporate Finance & Risk Management and SL3 - Corporate Taxation modules in the Strategic Level as per the curriculum 2020.

What are the exams that I need to complete at ICAEW?

Students are required to sit and pass all the ACA Advanced Level exams: currently, Corporate Reporting, Strategic Business Management and Case Study in the ICAEW syllabus.

Can I sit for CA Sri Lanka and ICAEW exams simultaneously?

Yes, students are allowed to follow both exams simultaneously subject to fulfilling the requirements before proceeding to the Case Study exam.

Do I need to fulfill the practical training requirement at CA Sri Lanka before applying for ICAEW?

Students are required to be in the final year of their Practical Work Experience at CA Sri Lanka and have attempted or received exemptions/credit for all other ACA modules before being eligible to sit for the Case Study exam of ICAEW.

How to purchase study materials for ICAEW exams?

You can purchase your study materials through the following website: https://www.gillards.com/icaew/Shop.aspx.  Currently the cost is £90 per subject (plus postage and packing). This price is subject to change by ICAEW.

How can I pay for the study materials? Via CA Sri Lanka or any other method?

Study materials for Advanced Level needs to be purchased directly from ICAEW.

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It is not mandatory. However, it is strongly recommended that students purchase the study materials as ICAEW is a rigorous qualification and the students will have the best chance to pass the exams, if the students are using the ICAEW recommended study materials, learning resources and tuition providers. The learning materials are reviewed each year and are approved by ICAEW examiners. Therefore, they are the most reliable sources of exam preparation.

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• May 1, 2020

How to Pass the ICAEW ACA Case Study Exam

Updated: Feb 22, 2023

This article offers advice on how to pass the ACA Case Study exam. Written by a multiple prize-winning ACA tutor who scored 92% in the Case Study exam and won the ICAEW prize for the highest score in the world, this is essential reading for any student preparing for their Case Study exam.

How to Ace the ACA Case Study Exam

The Case Study is unlike most other ACA exams as there is very little technical content to learn. Therefore, students who are used to memorising technical concepts and then ‘smashing out the question bank’ will be perplexed when they are presented with 40+ pages of advance information and a Case Study exam paper seemingly testing nothing they have learnt in their other 14 exams.

However, the Case Study is actually very similar to the other ACA exams in that the three exam requirements are always the same, as are the mark schemes. By appreciating the consistency in the exam requirements and the mark schemes, you can develop your exam technique to ensure that you tick all the 'boxes' on the mark scheme and complete your ACA qualification in style.

In light of this, we believe that there are 5 steps to Case Study success:

1. Understand how Case Study is marked

2. Understand what each of the three requirements involve

3. Understand what information is provided in the Advance Information (AI) and what is provided in the exam

4. Learn the Case Study exam technique which ensures that you hit all the boxes on the mark scheme

5. Practice mock exams to master your exam technique

Step 1: Understand how Case Study is marked

The Case Study marking process is objective: there is a set marking key for each requirement and if a student’s report includes a point which is on the mark scheme, they will get the mark. This is not like an academic essay where the examiner forms an overall opinion of the piece of work and then decides whether it is good enough to pass; the Case Study marking grid is rigid. Whilst it can be frustrating that making a valid point which is not on the mark scheme does not score a mark, it does mean that the marking process is very transparent and easy to navigate. Below is an example from a Case Study mark scheme to illustrate what I mean by points and boxes.

Step 2: Understand what each of the three requirements involve

As explained above, the three requirements are broadly the same in each Case Study exam.

R1: Analyse the financial performance of the company

R2: Evaluate a financial proposal

R3: Evaluate an opportunity or issue

The mark scheme for each requirement is also the same. This makes the exam fairly predictable.

By having a look at recent past papers, you will soon start see the consistency in the requirements and build an understanding of what each requirement involves.

Step 3: Understand what information is provided in the AI and what is provided in the exam

In addition to the exam requirements and mark schemes being in the same format every time, the AI is also in the same format every time (albeit a different business with different issues).

By working through past Case Study exams, you will soon start to see that the AI always has the same exhibits with very similar types of information e.g. industry background, prior year accounts, key customers / suppliers, strategic goals and risks. Similarly, all the exams include the same exhibits with very similar types of information.

Having completed the exam, it is important to mark it and reflect on what information came from the AI and what came from the exam exhibits. You will soon start to see that the majority of mark scoring points come from the exam exhibits rather than the AI. You will also learn which types of information in the AI tend to be rewarded in the mark scheme and where in the mark scheme they are rewarded, i.e. which box.

Step 4: Learn the Case Study exam technique which ensures that you hit all the boxes on the mark scheme

Having understood what the exam requirements are and how they are marked, you need to develop an exam technique which ensures that your report includes the points which are included on the mark scheme. Fortunately for you, we have developed an exam technique which does this and it has resulted in two students winning the prize for the highest mark in the world (90% and 92%), another winning a prize for the highest mark in their region (88%) and another achieving the highest mark in their firm (81%)!

Given the practical nature of exam technique, it is not possible to explain this in text so you can watch a free class here which teaches you exactly how to ace Requirement 1 and get a prize-winning mark.

Step 5: Practice mock exams to master your exam technique

By this stage in your ACA journey, you will already know that question practice is key to success. Having learnt the prize-winning technique, you then need to practice mock exams on your case study business under exam conditions so that you master the technique and sign off your ACA in style!

Need Help Passing the ACA Case Study Exam?

Details of our live tuition, video tuition, mock exams and proforma reports can be found here .

About the Author

Kieran Doe is a Senior ACA Tutor at ACA Masters. Kieran won ICAEW prizes for his performance in Financial Accounting and Reporting, Tax, Financial Management, Audit, Business Strategy and Case Study. This is in addition to winning several prizes at university for various Accounting, Management, Business and Economics subjects.

Kieran’s tuition is based around the learning techniques and exam strategies which enabled him to win prizes for all the subjects he teaches. Under his guidance, several of his ACA students have also won ICAEW prizes.

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Pass In Training

Full tuition course - on demand.

The full price of the course is £480 meaning our early student discount of £375 is fantastic value for money. The early sign up price of £375 is available through to 28th February 2023. Remember to join our Facebook Chat Group where there are exclusive discount offers for all our courses including this one! Prices are inclusive of any relevant taxes.

Why Choose Pass In Training

Pass rates of 98.5% and 99% during the last two sittings. The only Specialist Case Study experts with ICAEW marking team experience. Pass In Training is an approved ICAEW Partner In Learning.

We believe all students can pass the Case Study exam. However, you need to understand the exam, the company presented in the Advance Information and have the correct techniques. We build your individual approach for the examination to ensure your capitalise on areas you are good at and that you have the correct strategy to help you in areas you are less confident with. We are that confident you will pass with us, we offer our Pass Guarantee which means you get this course for free for as many sittings as you need to pass the examination. Contact Us If You Want More Information

Pass In Training - ICAEW Chat Group

Designated Case Study Facebook Chat Group where you have immediate access to tutors and other students.

We are the only tuition provider to have a Facebook Chat Group exclusively designated to the Case Study Exam. You will receive exclusive information and content to assist you with your exam. The group has access to special discount offers on all our courses, so join us now and become part of a fast growing network of Case Study students. You can access our group via the link below of by searching for Pass In Training - ICAEW Chat Group within your Facebook App. Join Our Facebook Chat Group Here

What Is Included

One of our key differences is that you receive tutor support consistently from the start of your course until you sit your exam. As specialists, we are not distracted by other subjects meaning we can concentrate wholly on ensuring you pass the ICAEW Case Study exam.

Seven sessions providing you with significant video content covering all areas of the Case Study

Access to our four highly realistic mock examinations - we have over 10 years of experience writing all the mocks for other Case Study specialist tutor firms and large professional training companies prior to setting up Pass In Training

Mock 2 exam marked by ICAEW trained Case Study markers with detailed feedback for you to use in Mocks 3,4 and the live examination

Advance Information & Exam Room Pack in a format you can add to and can print ahead of the exam

Covered by our Pass Guarantee scheme meaning in the unlikely event you fail, your resit is always free

Access to Steps To Pass In Case, the most comprehensive online book on passing the Case Study exam

Bench marked equivalent courses range from £795.00 excluding VAT. Our stated objective to is to bring the cost of studying down without compromising on quality.

How We Teach & Course Content

As one of our students, we will ensure you reach the key learning criteria of each session.

If you are unable to attend the sessions live, we will be recording and editing elements so that you are able to access the content online and on demand. The benefit of this course is that you will receive all the same advice and hints as the classroom based students, however, it will be significantly less interactive for you.

Regardless of whether you are accessing our full course as an On Demand student or are part of our live session, we believe every student who sits our course can pass the Case Study Examination.

Our method of teaching is to provide students with the correct knowledge and interpretation of the Case Study. With nearly 17 years of experience in marking the live ICAEW Case Study exams, writing mock examinations and tutoring students both in the UK and Overseas, we have a huge amount of experience to interpret the Case Study. We identify the key themes underpinning the Case Study and the likely strategic direction.

You must have the correct technique to give yourself the greatest opportunity to pass. Our course provides you with the tools for you to develop your technique and adapt based on the feedback you will receive.

To learn you must understand where you have performed well and areas you can improve on. We provide you a huge amount of feedback and identify how you ca overcome you weaker areas. Whether this is time management, writing technique, missing Applied Judgement marks, weak recommendations or being unable to generate ideas for Requirement 3. We will identify these issues and assist with your development.

What You Receive

You will receive 7 recorded sessions in order to build your knowledge over the course. The course design is structure to allow you to develop the required skill to pass the Case Study Exam and this cannot be achieved quickly or at the last minute.

In addition you will have access to:

• Our Steps To Pass In Case Case Study Book / e-course
• Advance Information & Exam Room Pack
• All four mock examinations
• One mock examinations marked by us with significant feedback (Mock 2)
• Access to our forums to discuss with us and students
• Support from a highly experienced Case Study specialist with high industry high pass rates throughout the duration of the course

Key Dates & Sessions

Session 1: Understanding the Case Study Exam - 27th May 2023 live course, which you can attend OR with video content available from 28th May 2023

• Understanding the assessment criteria
• Developing your knowledge of the marking key
• Typical points gaining credit on the marking key
• Creating a strategy to gain sufficient marks on each element
• Introduction to each requirement

Session 2: Advance Information Session - 10th June 2023 live session which you can attend and video content available from 11th June 2023

• Full review of the Advance Information
• Understanding the current financial position and trends
• Developing a picture of the expected financial position
• Key financial themes underpinning the business
• Understanding how the business generates profits and cash
• Developing ideas for potential Applied Judgement points for R1
• Issues facing the business and possible R2 scenarios
• Strategic direction and opportunities and developing R3 scenarios

Session 3: Mock Exam 1 - V ideo only session - content available from 12th June 2022

• Full class based walkthrough of Mock 1
• Understanding and correctly interpreting the requirements
• Development of your exam day process - where to spend your time
• Developing correct concepts and ideas for R1
• Developing Appendix 1 suitable for use in all scenarios
• Development of an R1 plan
• Understanding how to construct your R2 appendix
• Understanding how to challenge assumptions
• Development of an R2 plan
• Understanding how to construct your R3 appendix
• Methods you can use to develop R3 Financial, Operational & Strategic points
• Development of the correct technique to answer Ethical & Business Trust points

Mock 1 is self marked and peer marked as it is important for you to understand how the exam is marked as part of really understanding the Case Study Exam.

Session 4: Mock 1 Debrief & Mock Exam 2 - Video only session - content available from 18th June 2023

• Debrief of Mock 1 write up
• Learnings / technique review ahead of Mock 2
• Development of your time plan / refining ahead of Mock 2
• Requirement 1 - Student planning
• Requirement 1 - Student feedback and development of all potential points to discuss
• Requirement 1 - Determining which points to discuss
• Developing a final Applied Judgement list for R1 to use in future mocks / real exam
• Requirement 2 - Student appendix and planning
• Requirement 2 - Student feedback and development of all potential points to discuss
• Requirement 2 - Determining how to choose which points to discuss and why
• Requirement 3 - Student appendix and planning
• Requirement 3 - Student feedback and development of all potential points to discuss
• Requirement 3 - Determining how to choose which points to discuss and why
• How to write good conclusions, recommendations and executive summary
• How to organise the information you take into the examination

Student mocks will be written up at home and then submitted for full marking review. This is a detailed marking process with on average it taking markers over 2 hours to mark your script with significant comment on your performance.

Session 5: Mock 2 Debrief & Mock 3 - Video only session - content available from 25th June 2023

• Debrief of Mock 2
• Learnings / technique changes ahead of Mock 3
• Mock 3 performed solo and to time during the course

Mock 3 is self marked, although you can opt to have this marked by us by purchasing the Mock 3 Marking Service.

Session 6: Key Concerns and Common Issues / Mock 3 debrief and Mock 4 - Students to sit their final mock by - Video only session with content  will be available to view from 9th July 2023. The key aims of this session is to discuss common issues and problems students are experiencing ahead of Mock Exam 4

Mock exam 4 is self marked although you can pay to have the mock marked by us by purchasing the Mock 4 Marking Service.

Session 7: Mock 4 feedback and final preparation for the real exam - 15 th July 2023 live session access with video content available immediately after the course.

• Full debrief on Mock 4
• Recap on the key themes for the business
• Recap on the main areas of the marking key to concentrate
• Session on R1 queries / concerns from students
• Contingency plans for R1
• Recap of the likely R2 scenarios and any other potential areas the examiner could discuss
• Recap on challenging assumptions
• Session on R2 queries / concerns from students
• Contingency plans for R2
• Recap of the likely R3 scenarios and any other potential areas the examiner could discuss
• Recap on how to develop good Financial, Operational and Strategic discussion points
• Session on R3 queries / concerns from students
• Contingency plans for R3
• Recap on ethical and business trust issues
• What information to take into the exam
• Final thoughts

Bundle includes

Here are all the courses that are included in your bundle.

All Courses, 3. Exam Room Pack, 4. Case Study Manual

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Author: Professional Standards Department

Published: 04 Apr 2024

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Probate is a sensitive area, and firms can sometimes feel apprehensive about asking for feedback in situations where people may be grieving, or where there are conflicting interests or family issues.

However, the emotive nature of probate work arguably makes it even more critical to check whether clients feel you are handling things properly and providing the best possible service.

“From day one, we’ve taken client feedback from our probate service line seriously,” says Alex. “We all acknowledged that feedback was crucial to ensuring we established the probate service in the right way.”

“We have a culture of benchmarking our services against the client input on all our services, and I’d scratch my head if any practice says it’s not interested in getting feedback from its clients,” he explains. “We’re a service industry and we should be striving to do the best by all parties.”

Firmwide feedback

Bishop Fleming, which employs nearly 500 people across the South West and West Midlands, uses a mix of informal and formal methods to gather client views.

The firm takes a firmwide approach and obtains feedback from its probate clients in similar ways to any other client.

Over the past three years, clients have been surveyed through this annual pulse survey across generic themes. Engage covers all clients and service lines, so it includes clients who have used probate services but there are currently no probate-specific questions.

“Because Engage is client-wide, we haven't drilled too much into the specifics of service lines,” says Paul. “But we have pulled out information around wide-ranging issues such as service expectation, service delivery, communication, value for money, and all the generic issues that cut across our clients.”

“Clients frequently use multiple services,” Paul explains. “So, when we get feedback as part of Engage, it often refers to the general service a client has received across all of its business or personal interests.”

“We do, however, want to drill down further because the more granular we get, the richer the picture will be,” he adds.

“And that has allowed us to ask specific audit-level questions, such as: Are you prepared for your audit? Do you want us to do it in a particular way? What was your feedback coming out of the audit and did it meet your expectations?”

Bishop Fleming now plans to use this approach more widely across the business, in future delving more deeply into other areas, including probate.

From day one, we’ve taken client feedback from our probate service line seriously. Alex Robins, Partner and Head of Trusts and Probate

Act on feedback

Regardless of how feedback is obtained, the key is to ensure the information gathered is shared and acted upon. “The whole point of doing the survey is to get the information and, if you then ignore it, what's the point?” says Paul.

“We share the results; we don’t just sit on the data,” he explains. “We pull out the testimonials, good or bad, and we push these back to the relevant relationship holders.”

“There aren't many that are negative,” he emphasises, “but the process means that we can nip those issues in the bud.”

“Part of being rewarding is pushing good feedback into the firm,” explains Paul. “We want those client testimonials to reach the person who did the work, so they know they’re doing a good job, and that their client is happy, too.”

Virtuous circle

“We’re not seeing any differences in probate responses versus other service lines,” says Paul. “Instead, we see common threads around service levels, proactivity, communication and speed of response.”

The Engage surveys also ask what other areas of business a client might be interested in. “In our most recent survey, probate was the leading service line our clients who weren't already probate clients wanted to know more about,” says Paul.

“So, that supports a virtuous circle - the more work we do, the more feedback we obtain, the more it informs our services.”

Probate clients are often existing clients, so finding out what clients are interested in is particularly useful. “Engage highlights those areas and provides us with an opportunity to have a conversation about what we offer,” explains Alex.

Bishop Fleming also publicises client feedback more widely. “For example, we keep a bank of testimonials for external marketing purposes or bids and tenders,” says Paul. “There's nothing more powerful than an existing client quote.”

Managing risk

Although Bishop Fleming doesn’t treat probate clients any differently in terms of how it asks for feedback, it has noticed some nuances in terms of the volume of anecdotal feedback, outside of the yearly Engage surveys.

“What we do find with probate,” says Alex, “is that our interactions can be slightly different to other service lines. Because it’s a more sensitive and emotional area, we usually tend to get a little more feedback along the way, compared to some of the other, perhaps more straightforward, transactional services.”

Both Alex and Paul also point out how the nature of probate means there is a more direct reputational link to delivering a good service in this area, making the risk of getting it wrong arguably higher.

“This is very personal for the people involved,” explains Alex. “So, it’s even more important to get feedback to ensure that you aren't overstepping the mark or upsetting anyone.”

“It is emotive, and naturally there are people who are going to be upset along the way,” adds Paul. “This might occasionally generate negative reviews, but I think practices have got to be ready to deal with those. It's far more rewarding to pull those problems towards you and deal with them.”

Through its various approaches, Bishop Fleming aims to get as rich a picture as possible of its client base. “It's never going to be 100%,” acknowledges Paul. “But we're confident that in the slice we get, we can extrapolate the results and rely on the themes coming out.”

“We’d also encourage any practice, regardless of size, to consider the value client feedback can bring to their business and to develop their own ways of obtaining it within their client base.”

• More articles on gathering client satisfaction data
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• Kreston Reeves: Early adopters and client case studies
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• Raffingers: Thinking ahead

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• The ICAEW Practice Assurance scheme
• Licensed Practice scheme
• Professional Indemnity Insurance (PII)
• Clients' Money Regulations
• Taxation (PCRT) Regulations
• ICAEW training films
• Helpsheets and guidance by topic
• ICAEW's regulatory expertise and history

Exam modules

More information on what you will study during each of the 15 ACA qualification modules.

Certificate level

In this module you will learn about:

• maintaining financial records;
• making adjustments to accounting records and financial statements;
• preparing financial statements; and
• professional ethics.
• the concept, process and need for assurance;
• internal controls;
• gathering evidence on assurance engagement; and

Business, Technology and Finance

• business objectives and functions;
• business and organisational structures;
• the role of finance and the accountancy profession;
• the external environment; and
• the impact of civil and criminal law on business and professional services;
• company and insolvency law;
• the impact of law in the professional context; and

Management Information

• costing and pricing;
• budgeting and forecasting;
• performance management;
• management decision making; and

Principles of Taxation

• the different objectives and types of tax;
• the ethics and administration of taxation;
• income tax and national insurance contributions;
• capital gains tax and chargeable gains for companies;
• corporate tax and VAT; and

ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB)

The Certificate level of the ACA also make up an independent qualification, ICAEW Certificate in Finance, Accounting and Business. This can be completed independently of the ACA. 

ICAEW CFAB is a globally-recognised qualification in finance, accounting and business. It is open to everyone and can be studied independently or via a tuition provider.

The six exams can be completed in any order and are assessed via computer-based assessment at a local exam-centres.

ICAEW CFAB can be achieved in 12 months. Upon completion, you will receive your ICAEW CFAB qualification certificate and you can choose to carry on and complete the ACA.

Read more about ICAEW CFAB

Professional level

• legal and other professional regulations, ethics and current issues;
• accepting, planning and managing engagements;
• concluding and reporting on engagements; and

Business Strategy and Technology

• strategic analysis;
• strategic choice;
• the implementation and monitoring of strategy; and

Financial Management

• financing options;
• managing financial risk;
• investment decisions and valuations; and

Financial Accounting and Reporting

• accounting and reporting concepts and ethics;
• single entity financial statements;
• consolidated financial statements; and

Tax Compliance

• indirect taxes;
• capital taxes;
• corporation tax;
• income tax and national insurance contributions; and
• professional ethics and law.

Business Planning

There are three Business Planning module options: Banking, Insurance or Taxation. ACA students are given guidance from their employer which of the three they should study.

Business Planning: Banking

In this option you will learn about:

• financial services products;
• risk management;
• financial and regulatory reporting for banks;
• the audit and assurance of banks; and

Business Planning: Insurance

• insurance products;
• financial and regulatory reporting for insurance companies;
• the audit and assurance of insurance companies; and

Business Planning: Taxation

• the taxation of corporate entities;
• taxation of owner-managed businesses;
• personal taxation; and

Advanced level

Corporate reporting.

This module covers:

• applying technical and analytical techniques to resolve compliance and business issues that arise from providing auditing services and preparing and evaluating corporate reports;
• applying technical knowledge and professional judgement to determine alternative solutions to corporate reporting issues, considering client and stakeholder needs;
• considering commercial impact and ethical issues arising from recommendations on compliance and business issues; and

Strategic Business Management

• demonstrating business and ethical awareness at strategic, operating and transactional levels;
• demonstrating quantitative and qualitative skills to solve business problems and make realistic recommendations;
• applying technical knowledge, including strategic analysis, risk management, corporate governance, financial management, corporate reporting and assurance;
• applying technical knowledge and professional judgement to identify and use appropriate models, analyse data from multiple sources and develop appropriate solutions; and

This module must be taken at the end of your studies and relates to how students will be expected to work. It tests professional skills in the context of a specific business issue and your understanding and application of professional ethics. It requires:

• the demonstration of knowledge, skills and practical application from multiple areas of the syllabus;
• the ability to analyse financial and non-financial information;
• the demonstration of professional and ethical judgement; and
• the development of conclusions and recommendations;

ICAEW Training Vacancies

ICAEW Training Vacancies is a job board from ICAEW, a professional membership organisation supporting over 147,000 chartered accountants around the  world. Our employers advertise their early-career accountancy, finance and business roles for school leavers, university students and graduates who are looking to complete the ACA qualification as part of a training agreement. 

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