FAQ ! Information sheet  
Who is required to complete the Practical Experience Program?  
 
Importance of practical experience 
One of the reasons that the Chartered Accountants Program is Australia’s leading postgraduate accounting program is because theoretical learning is coupled with a component of practical experience. The theoretical component involves completing five modules at the same time as working in an Institute-approved organisation and getting on-the-job training which represents the practical experience component. An important element is for candidates to meet and review their progress with a Chartered Accountant mentor on a quarterly basis during the three-year period of practical experience.  
 
The Chartered Accountants Program is the only Australian postgraduate accounting program, recognised by higher education authorities, that has a formal mentoring component – adding further the strength to the CA designation and its global recognition.  
 
Purpose of practical experience 
The purpose of the three-year practical experience requirement is for candidates to build on their academic qualifications by applying theoretical knowledge and developing the professional skills and values relevant to their specific job.  
 
The workplace provides the professional environment for candidates to develop and apply their professional knowledge and skills. It is also in the workplace that they will face real professional issues, not just hypothetical scenarios. 
 
A new approach to practical experience 
In consultation with existing candidates, mentors and employers, the Institute has redesigned the practical experience component of the Chartered Accountants pathway. The practical experience component has been redesigned to meet international standards set by the International Federation of Accountants requiring a competency-based, structured approach to developing professional knowledge and skills in the workplace. 
 
Another reason for the change is to fulfil existing candidate and mentor requests for more information and guidance on what they should be covering during the three-year practical experience period. 
 
This new program comes into effect for all new candidates commencing their three-year period of practical experience on or after 1 October 2006 and all candidates who commence their first technical module from Term 3 2007 onwards.