Foreword

The purpose of this document is to explain what the ACCA Competency Framework
is and how it can be used.

The Framework provides evidence of the capabilities of ACCA qualified members. It is

based on thorough studies into the knowledge, skills and behaviours required of finance
and accounting professionals in organisations today.

The Framework is used by ACCA to develop its qualification in line with the emerging
needs of business and other stakeholders.

It can also be used by employers to inform and complement their policies, procedures
and practices with regard to the recruitment, training and development of finance
and accounting personnel.
 About the Competency Framework

Competencies

Contents Strategy and Innovation

Leadership and Management
Stakeholder Relationship Management
Ethics and Professionalism

This document explains the Governance, Risk and Control

Competency Framework, Competencies Corporate and Business Reporting

and Professional Quotients. Financial Management
Management Accounting
To find out more, select a section Taxation
from the list.
Audit and Assurance
Advisory and Consultancy
Data, Digital and Technology

Professional Quotients

Important Legal Notice

 About the Competency
Framework

The Competency Framework sets out Competencies

comprehensively how ACCA qualified
‘Competency’ (competencies) describes the behaviour that lies behind competent
people add sustained value to the
performance and describes what people bring to the job (output of the ACCA Qualification).
organisations in which they operate,
now and into the future. The framework The competencies are the technical knowledge and measurable skills gained by completing
describes the highest standards the ACCA Qualification through a mix of exams, experience and ethics (3Es).
of professional competence.
For more information, please visit ACCA’s website.
It captures what successful and effective
accountants do and deliver across every
aspect and specialism of the profession, Professional Quotients
and sets out the required underpinning ACCA’s research identified the main drivers for change that will shape the role future finance
skills, behaviour and knowledge. professionals will play in organisations.
The Competency Framework is used to As well as identifying drivers of change, our research considered the impact of existing and
develop ACCA products and services emerging trends on what is expected of professional accountants, and how they will need
that strengthen and support the to respond to changes and plan for action.
profession as a whole and supports
the career development of individual Our seven Professional Quotients model highlights the skills future accountants will need
finance professionals within to progress their careers and add most value for employers and clients.
the workplace.
These seven quotients are at the core of the evolved ACCA Qualification. Along with ‘typical’
The ACCA Competency Framework has skills such as technical, ethical, intelligence, and digital, ACCA’s quotients include three ‘softer’
12 competency areas, with Ethics skills that will be increasingly called for in future. These softer skills are creative skills, emotional
and Professionalism at its heart. intelligence, and vision.
 How Organisations can use to your business – during recruitment and selection, and to support performance
management and personal development planning.
this Competency Framework The competencies can be used to address critical skills gaps e.g. by mapping individual
and team capabilities to the knowledge, skills and behaviours defined by ACCA.

Organisations can use ACCA’s competencies to complement Development planning can also be enhanced by reference to ACCA’s Professional
their procedures and programmes because they: Quotients – the behaviours and qualities that accountants need to meet
the on-going demands of the profession.
• are comprehensive, covering all the key disciplines that businesses
may require across all sectors. The Competency Framework is one of a number of resources available to employers.
For more information about these, please visit ACCA’s website.
• are global, promoting consistency across geographies.
• describe what individuals must be able to do in critical roles
as managers and leaders, and as experts and decision-makers.

There are a number of ways in which employers can use

ACCA’s Competency Framework (and Professional Quotients)
Organisations which have their own
to augment their operations and address key challenges.
competency frameworks may also find
ACCA’s competencies provide assurance that, when you recruit ACCA’s competencies useful.
ACCA qualified people, you’re acquiring the essential
ACCA’s competencies can complement
competencies you need.
your existing frameworks – especially where
You can review objectives for (and outcomes of) your L&D these focus on generic capabilities across
programmes against the current and future competency the business, or on particular capabilities
requirements established by ACCA through its comprehensive central to their business purpose.
global research.
ACCA’s competencies can help by
Job specifications can be enhanced by adding clarity and providing wider coverage and deeper
underpinning detail about critical roles and responsibilities. insight into financial and accounting
related occupational roles.
ACCA’s competencies provide benchmark references which you can
use to perfect procedures for evaluating competency areas critical
 Data,
Advisory and

The Competency
Digital and
Consultancy Technology

Framework Audit and

Assurance
Strategy and
Innovation

Leadership
Taxation
To find out more select
and Management
Ethics and

a competency from the Framework

Professionalism

to begin your journey.

Management Stakeholder
Accounting Relationship
Management

Financial Governance,
Management Risk and
Control
Corporate
and Business
Reporting
 Strategy and Innovation

Competency Area Description

Assessing and evaluating strategic options and identifying imaginative High Level Competency
opportunities to improve performance and position; implementing innovative
and cost effective solutions leading to effective change management Applies business acumen and commercial
and business process improvement.
A awareness to deliver business objectives.

What this means: B Recommends a range of suitable strategic

options from which to develop sustainable
• Students and members are developed to think strategically.
plans and objectives.
• Case study exams at the Strategic Professional level encourages this thinking.
Evaluates, justifies and implements suitable
• In recognition of its importance, this area is covered in all parts C strategic options.
of the ACCA Qualification.

Adopts and applies innovative methods to

D implement strategy and manages change.
Example Job Profiles
• Partner
• Treasurer
• Finance Strategy and Transformation Consultant

Related Professional Quotients

Intelligence Creative Vision

 Leadership and Management

Competency Area Description

Managing resources and leading organisations effectively and ethically,
High Level Competency
understanding stakeholder needs and priorities.
Applies appropriate leadership strategies
A to effectively deliver business objectives.
What this means:
• The ACCA Qualification equips students and members with tools to become forward Leads, motivates and manages people to
thinking leaders. B optimise performance and effectiveness.
• Leading is not just about managing people, but motivating
Collaborates, supports and works to
and inspiring to maximise performance. C achieve the objectives of the organisation,
• All elements of the ACCA Qualification focus on developing this key skill before applying appropriate digital technologies.
they become members.
Acts proactively and thinks strategically,
D in anticipating organisational needs,
Example Job Profiles recognising the wider business environment
and dynamics.
• Project Accountant
• Financial Controller
• Chief Financial Officer

Related Professional Quotients

Emotional Technical Skills

Experience
Intelligence and Ethics
 Stakeholder Relationship
Management
High Level Competency
Competency Area Description
Managing stakeholder expectations and needs by aligning the organisation’s Positively develops relationships with
A internal and external stakeholders.
objectives, engaging stakeholders effectively and communication relevant
information using appropriate technologies.
Communicates and gains commitment from
B internal and external stakeholder.
What this means:
• The ACCA Qualification progressively gives students and members the skills to become Uses emerging technologies to collaborate
collaborative and communicate effectively with a diverse range of stakeholders. C and communicate effectively with
• Strategic Professional Level exams encourage, develop and examine this broader stakeholders.
thinking and approach to communication with stakeholders.
Applies professional and ethical judgement
D when engaging with stakeholders.
Example Job Profiles
Aligns organisational strategic objectives
• Fund Manager E with stakeholder needs and manages
• Chief Accountant expectations.
• Chief Financial Officer

Related Professional Quotients

Emotional
Vision Intelligence
Intelligence
 Ethics and Professionalism

Competency Area Description High Level Competency

Applying knowledge, sensitivity and judgement to act in accordance with Develops advanced ethical values and
fundamental principles of professional and personal ethics behaviour; ensuring the
A professional skills in the promotion of public
implementation of appropriate ethics framework, laws and regulation relating to interest and the profession.
business and promoting value in the public interest.
Demonstrates personal effectiveness
B in fast-changing environments.
What this means:
• Ethics are fundamental to the ACCA Qualification. Encourages innovative thinking within the
• ACCA provides innovative training through an interactive online module
C context of professional scepticism.
allowing students and members to practice in a “safe” environment.
Thinks proactively about the future, applying
• Ethics is examinable in all Strategic Professional Level exams as part D professional judgement and commercial
of real world case studies.
intelligence and seeks specialist input
• ACCA students and members are trained to hold ethics in high regard when needed.
and behave in a manner that promotes value in the public interest.
Communicates effectively and influences others.
E
Example Job Profiles
The Ethics and Professionalism competency is an integral part of the ACCA
Qualification developing broad ethical and professional values which underpin
all other professional skills and job profiles.

Related Professional Quotients

Vision Creative Intelligence

 Governance, Risk and Control

Competency Area Description High Level Competency

Ensuring effective and appropriate governance, allowing evaluation, monitoring
Evaluates organisational structures and
and implementation of appropriate risk identification procedures; by designing A governance to protect the long-term interests
and implementing effective internal audit and control systems. of stakeholders.

What this means: Recommends appropriate strategies to ensure

• This area is integral to the Strategic Business Leader exam.
B adherence to governance structures and
application of best practice internal controls.
• The ACCA Qualification examines this area in very practical ways through real life case
study examples of different businesses.
Identifies and manages risk appropriately.
C

Example Job Profiles Uses risk management for the best interests of
D an organisation and its stakeholders.
• Risk Manager
• Financial Analyst
Monitors and applies relevant legislation,
• Regulatory Specialist E policies and procedures.

Related Professional Quotients

Emotional
Intelligence Creative
Intelligence
 Corporate and Business
Reporting
Competency Area Description High Level Competency
Preparing and communicating high-quality business reports to support stakeholder
Prepares financial statements, corporate
understanding and decision-making. A financial and integrated reports for external
stakeholders using appropriate technology.
What this means:
• ACCA examinations are based on IFRS® Standards meaning that ACCA students Leads effective decision-making through
and members have the technical knowledge to prepare business reports across
B analysing, evaluating and communicating
a wide range of jurisdictions. performance and position of entities.
• With transactions increasing in complexity, ACCA students and members acquire
Prepares financial statements for groups
the deep analytical skills needed to identify key issues. C of entities using appropriate technologies.
• The Strategic Business Reporting exam focuses on understanding and communicating
what transactions mean and their impact. Monitors, critically evaluates, and advises on
D the relevant accounting standards, regulation,
and conceptual and reporting frameworks.
Example Job Profiles
• Financial Accountant
• Financial Controller
• Group Accountant

Related Professional Quotients

Technical Skills Emotional

Experience
and Ethics Intelligence
 Financial Management
High Level Competency

Competency Area Description Links developments in global trade, markets,

A business practices and the economic environment
Implementing effective investment and financing decisions within the business to required improvements in the financial and risk
environment in areas such as investment appraisal, business re-organisations, management of an organisation.
tax and risk management, treasury and working capital management,
to ensure value creation. Advises on business asset valuations, capital
B projects and investments using appropriate
What this means: analytical qualitative and quantitative techniques.

• ACCA students and members gain deep understanding of all aspects Identifies, evaluates and advises on alternative
of financial management. C sources of business finance and different ways
• The Advanced Financial Management exam is the most progressive on the market. of raising finance.

• The ACCA Qualification develops a solid grounding in this area as it is critical

Communicates and advises on the impact on
to business success. D financial decision-making on current developments
• Communicating the aspects of financial management back to the organisation in regulation, governance and ethics.
is also important.
Assesses and advises on appropriate strategies to
E manage business and organisational performance
Example Job Profiles regarding business and finance risk and effectively
communicates the impact.
• Group Accountant
• Management Accountant
• Financial Planning Analyst

Related Professional Quotients

Technical Skills
Digital Vision
and Ethics
 Management Accounting
High Level Competency
Competency Area Description Applies development and performance
A management, in the wider business
Assessing, evaluating and implementing management accounting and performance
management systems for planning, measuring, controlling and monitoring business and technological environment, within
performance to ensure sustainable value creation. the context of strategic planning and
implementation.
What this means:
Directs organisational performance through
• Management accounting is firmly embedded in the ACCA Qualification B the selection and measurement of financial
at all levels. and non-financial performance indicators.
• Realistic workplace scenarios are integrated into the exams.
Collaborates on the key tactical and
• Because planning and control are essential to business, all ACCA students C organisational areas of budgeting and
and members must have a good grounding in this area. control, capital investments, people
• The Advanced Performance Management exam consists of a comprehensive and resource management.
case study to develop high-level management accounting and performance
management techniques. Consults on the design and use of current
D and emerging technology and information
systems to improve strategic decision-
making and organisational performance.
Example Job Profiles
• Financial Controller
• Financial Planning Analyst
• Management Accountant

Related Professional Quotients

Intelligence Digital Experience

 Taxation
High Level Competency
Competency Area Description
Communicates knowledge of the operation
Complying with tax regulation and systems, communicating with relevant A and scope of the tax system, obligations
stakeholders to establish and ethically manage tax liabilities for individuals
of tax payers, the implications of non-
and companies, using appropriate tax computation and planning techniques. compliance and advises on tax planning.

What this means: Advises ethically on strategic tax plans and

• The ACCA Qualification develops an understanding of taxation and its impact
B computes the tax liabilities of individuals.
on transactions as well as on business generally.
Advises ethically on strategic tax plans and
• The ACCA Qualification gives an opportunity to specialise in taxation C computes the corporation tax liabilities of
at Strategic Professional Level.
individual companies and groups
of companies.

Example Job Profile Explains and computes the effects of value

D added tax (VAT) / goods and services tax
• Tax Accountant
(GST) and indirect tax on incorporated and
• Tax Business Partner unincorporated businesses and advises
• Partner appropriately.

Related Professional Quotients

Technical Skills
Digital Experience
and Ethics
 Audit and Assurance
High Level Competency
Competency Area Description
Advises on and communicates effectively
Providing high quality audits by evaluating information systems and internal A the role and scope of audit and assurance
controls, gathering evidence and performing procedures to meet the objectives engagements to relevant stakeholders.
of audit and assurance engagements.
Applies regulatory, legal, professional and
What this means: B ethical standards relating to audit and
• The ACCA Qualification offers Audit and Assurance as a Strategic Professional exam. assurance engagements.

• Audit and assurance is a compulsory element of the ACCA Qualification regardless of Plans and prepares for audit and assurance
the area students and members aspire to work in as the skills are transferable to wider C engagements.
business engagements.
• The Audit and Assurance exams cover areas such as due diligence, forensic audit, Performs effective audit, and assurance
public sector audit and other assurance engagements.
D engagements.

Reviews and reports on the findings of audit

E and assurance engagements.
Example Job Profiles
• Audit Senior Guiding efficient and effective operations.
• External Auditor F
• Technology Risk Auditor

Related Professional Quotients

Technical Skills
Digital Creative
and Ethics
 Advisory and Consultancy

Competency Area Description High Level Competency

Developing insight into both internal and external clients’ business issues, providing Gathers and understands financial and non-
expert advice, and adding value to the business or organisational function. A financial information to develop complete
Supporting clients’ objectives and plans to improve, innovate and grow; identify knowledge of the client business and the
efficiencies and respond to changing business conditions. environment in which it operates.

What this means: B Provides expert advice that will add value
to the business and gain advantage.
• The ACCA Qualification progressively develops a student’s and
member’s skills to assess, evaluate and understand a business and its
Identify and advise on business partnering
environment and provide the appropriate business advice. C to develop strategic relationships to create
• The ACCA Qualification provides a rounded and solid grounding opportunities, improve performance and
in the necessary attributes for an advisory role – particularly though solve business problems.
the assessment of different business case studies at the Strategic
Professional Level. Prepare and present business plans
D and advise on the actions to implement
these plans.
Example Job Profiles
• Business Adviser
• Business Analyst
• Finance Strategy and Transformation Consultant

Related Professional Quotients

Vision Creative Intelligence

 Data, Digital and Technology

Competency Area Description

Identifying opportunities and strategic options, using digital and data technology,
to add value. Using appropriate technologies and tools to support business High Level Competency
objectives and plans to improve, innovate and gain advantage; ensuring
Identifies strategic options to add value,
professional scepticism and ethics are applied when sourcing and using data A using data and technology.
and digital technologies.
Analyses and evaluates data using
What this means: B appropriate technologies and tools.
• The ACCA Qualification progressively develops a student’s and member’s digital and
technology knowledge and builds the skills to analyse and evaluate financial and Applies technologies to visualise data
non-financial data, with a clear understanding of the professional and ethical
C clearly and effectively.
obligations that must be met in the use of data and data technology.
Applies scepticism and ethical judgement
• The ACCA Qualification, including the Ethics and Professional Skills module, embeds D to the use of data and data technology.
digital and data technology at all levels. Particularly at the Strategic Professional Level,
ACCA will assess through real life case study examples of varying digital and data
technology capabilities and opportunities within different types of business.

Example Job Profiles

• Business Analyst
• Data Visualisation Specialist
• Finance Strategy and Transformation Consultants

Related Professional Quotients

Technical Skills
Vision Digital
& Ethics
 Technical Skills and Ethics (TEQ)
Professional Quotients The ability to perform consistently well while maintaining the
highest standards of integrity, independence and scepticism.

Intelligence (IQ)
The ability to acquire and use knowledge — thinking,
reasoning and solving problems.

Creative (CQ)
The ability to use existing knowledge to make connections,
Professional Quotients explore potential outcomes and generate new ideas.
The Professional Quotients are the behaviours and
qualities required for an ACCA qualified accountant to Digital (DQ)
meet the future needs and demands of the profession.
The awareness and application of existing and emerging
digital technologies, capabilities, practices and strategies.
The quotients are softer, professional skills
gained not only through the ACCA Qualification,
but enhanced as the individual progresses through Emotion Intelligence (EQ)
their career. The ability to identify personal emotions and those of others,
apply them to tasks and regulate and manage them.
The Professional Quotients are the input capabilities
that a professional accountant should be using to Vision (VQ)
best demonstrate the competencies (outputs)
they are delivering. The ability to predict future trends and facts and fill gaps
by thinking innovatively.
There are seven skill areas — or quotients — essential
to the evolving profession. Central to the model Experience (XQ)
is the Technical and Ethical quotient (TEQ). The ability and skills to understand customer expectations,
meet desired outcomes and create value.
 IMPORTANT LEGAL
NOTICE

The Competency Framework has been made available to you for the purposes of supporting you,
or individuals you work with, through ACCA and careers in finance (“the Permitted Purposes”). All
intellectual property rights in the Competency Framework (including copyright) are owned by
the Association of Chartered Certified Accountants (“ACCA”).

By using the Competency Framework, you agree to the Legal & Copyright Information policy and
you also expressly agree that you will not deal with the Competency Framework in any way apart
from for the Permitted Purposes, in particular you will not:

• Reproduce or incorporate the whole or any part of the Competency Framework in any work
produced or authorised by you; or

• Represent that the Competency Framework or any part of it was created by or is offered
to the public by you.