A degree in economics is usually the first step for anyone aspiring to become a Charted Accountant CAANZ. Around 85 percent of all auditors practicing today have a degree in these courses. However, this is not absolutely necessary. Admission to the examination as a chartered accountant requires proof of completed university education; the completion of a specific field of study is not required. However, since the auditing examination requires a high level of knowledge in the field of economics, a corresponding specialization facilitates further steps.
The choice of college
The choice of university – university or technical college – remains a free decision. In the meantime, however, numerous universities offer special modules that deal in detail with the areas of responsibility of auditing.
First universities offer master’s courses, which provide targeted training for the profession of the auditor. These courses are subject to a special accreditation, which checks whether they are particularly suitable for training auditors. Other universities offer courses in which examinations of individual course achievements are recognized as equivalent for the auditing examination. It is therefore worth checking the courses offered by universities.
Practice is a prerequisite
In addition to a degree, each applicant must demonstrate sufficient practical training (activity). If the standard period of study for the completed degree is eight or more semesters, the requirement is met if evidence of at least three years of activity is provided. In addition, all applicants must prove that they have predominantly taken part in final examinations for at least two years and have been involved in the preparation of the examination reports.
Anyone who wants to become a chartered accountant must meet the admission requirements of the chartered accountant regulations through their previous education and practical work experience. Before taking the auditor exam, each candidate must therefore prove that he meets the admission requirements.
The examination office for the auditing examination at the Chamber of Public Accountants is responsible for the implementation of the admission procedure and the subsequent examination procedure.
Applications for admission to the auditing examination must be sent to one of the regional offices of the Chamber of Auditors.
The auditor examination is taken before the independent examination board. The auditing exam consists of a written and an oral exam. The written examination consists of seven supervisory papers. The following topics are dealt with:
- Business examinations, company valuation, and professional law (2 exams)
- Applied business administration, economics (2 exams)
- Business Law (1 written exam)
- Tax law (2 exams).
Tax consultants and applicants who have passed the tax consultant exam can take the exam in a shortened form; then the written and oral examinations in tax law are not required. After successfully completing a master’s degree accredited, the written and oral examinations in the areas of “Applied Business Administration, Economics” and “Business Law” are omitted. If examinations have been performed in other study programs in these examination areas that are equivalent to those in the auditing examination in terms of content, form, and scope, these can be credited towards the auditing examination. This may vary from country to country.