The Ethics and Professional Skills Module will replace the long standing Professional Ethics Module at the end of October 2017. The new and revamped module comes as a result of consultation with global employers who are desirous of attracting well rounded employees into their fold.
Traditionally, there has been a focus on the academic and the theoretical aspects of accounting, with ethics hiding somewhere in between. However, this new module seeks to attribute a higher degree of importance to the topic. This approach by the ACCA is in line with the global developments in the enhancement of ethical decision making, compliance and business regulations.
ACCA Qualification Changes
The ACCA has rolled out a slew of new changes which will result in an invigorating qualification that better suits the demands of professionals in the field. The expectations and responsibilities of accounting and finance professionals has changed over the years and so the association undertook the responsibility of ensuring that its students were well equipped to meet these business requirements.
In addition to a revamped Ethics and Professional Skills Module, the levels have been renamed to reflect the skills that can be gained and applied in the workplace. The Strategic Professional Level has been redesigned with two new courses which replace older versions. Take a look at how the ACCA has incorporated these changes into the existing qualification.
The New Ethics and Professional Skills Module
The ACCA has clearly explained the new module as well as the other changes to its programmes on a page dedicated to its changes. The module consists of six units which cover the following topics: Ethics and Professionalism; Personal Effectiveness; Innovation and Scepticism; Commercial Awareness, Analysis, Evaluation and Problem solving; Leadership and Team Work and Communication and Interpersonal Skills.
Professionals in every field are bound by certain ethical behaviours which shape the profession. Accounting is no different. The ACCA believes that professional accountants must be able to apply sound ethical behaviour in their day to day situations, be they simple or complex. Also, ethics should not be seen as separate from the profession, but rather, as a complement to the other technical and skills that accountants should possess.
Key Features of the Module
One of the key features of the new module that you should note, is the cost. The old Professional Ethics Module was free, but there is a cost attached to the new module. If you have not completed the old Professional Ethics Module, you will be required to pay GBP 60.00 to complete the Ethics and Professional Skills Module.
Another feature is that the module is estimated to take 20 hours to complete instead of the 4 hours attributed to the old module. The module is a bit more in depth and focuses on the professional skills that employers desire. ACCA has mentioned that the new module will impart a wide selection of professional qualities that can be of benefit to the individual and the organisation.
You can begin studying at any time during the Applied Skills level (formerly Skills Module in the Fundamental Level), but it must be completed before you attempt the Strategic Professional (formerly Professional Level) exams. The module is necessary for you to achieve ACCA membership and there are no exemptions at this time. On completion of the module, you will be awarded a certificate.
Because I already completed the old Professional Ethics Module early in my ACCA exams journey, I am not required to complete this new module. However, I can take it as a refresher. If you will be taking the new module and looking for more information on the Ethics and Professional Skills Module, please see the following links:
- Ethics and Professional Skills Module (ACCA)
- Complete the ACCA Professional Ethics Module Now – Or Forever Hold Your Peace (Learn Signal)
- ACCA Unveils Enhanced Module (All About Finance Careers)
- Do It For Free or Pay £60 – Professional Ethics Module (Learner’s Hack)
- ACCA Unveils Enhanced Ethics and Professional Skills Module (ACCA)