Proposed Level 6 degree apprenticeship backed by IFA and NHS
Bridging the gap between Level 4 and 7 qualifications, the proposed Level 6 degree would act as middle-ground for new accountants.
Bridging the gap between Level 4 and 7 qualifications, the proposed Level 6 degree would act as middle-ground for new accountants.
A new Level 6 accountancy degree has been proposed as a bridge between the current Level 4 and Level 7 apprenticeships, backed by the Institute of Financial Accountants (IFA).
In its current form, the Level 6 degree would function as an equivalent to an honours degree and would allow apprentices to learn market-appropriate information beyond the foundational Level 4 – without needing to learn the specialist skills found in a higher degree.
Additionally, the new degree would allow students to receive 80% of their training on-the-job with only 20% of training taking place outside of the business, making the degree more affordable.
John Edwards, Chief Executive Officer of the IFA, said: “For a long time, our members have expressed a desire for an improved apprenticeship programme, enabling them to provide on-the-job learning, but at the same time supporting their employees to gain degree-level knowledge, rather than just a foundation.
“We are delighted to be supporting a provisional bid to introduce a Level 6 degree apprenticeship, but want to hear back from active accountancy practices and members in business about the relevance to their businesses and their teams.”
If put into action, the Level 6 would be equivalent to a degree-level course, be available through universities, and would also count towards an accounting degree.
The IFA has proposed that while it would be mostly comprised of on-the-job training (80%) with a bit of outside learning (20%), Level 6 would also explore topics that Level 4 does not, including technology, cyber-crime, MTD and data protection legislation.
While exams would still be used to test a student’s technical skills, the focus of the course would instead be on work-based learning, technology, and soft skills like consulting and negotiating.
The Level 6 degree has also been backed by Jonathan Mills, a Senior Lecturer and Researcher at Birmingham City University, who has been researching this idea with employers and students for several years.
Mills said: “When degree apprenticeships exist for surveyors, solicitors, and several for engineers of different types, it makes no sense that none has been created for a profession that is so important to businesses, and that can have a significant impact on the productivity of UK SMEs.”
According to Mills, the Level 6 campaign already has the provisional support of the IFA, the NHS and Thomson Reuters, but requires more backing before a formal proposal can be made to the Institute of Apprenticeships.
The IFA will be accepting comments and feedback on the Level 6 degree apprenticeship at [email protected] until 19 December, 2019. The final proposal will be submitted in early 2020.