ACA versus Corporate Finance Qualification (CFQ)

Many of the Big4 are offering the chance to study for the CFQ instead of the ACA in their Advisory > Corp Fin departments. As this is a relatively new qualification, do you think it is as respected as the ACA?

Also, many people go into IBs at Associate level after qualifying with an ACA. Do you think this would be possible with the CFQ?

I currently hold an offer for a Summer Internship with KPMG in Advisory > Transaction Services, but will soon be attending an interview with Deloitte for Corp Fin.

Any opinions, or ideas are welcome. I would appreciate your input.

Thanks,

Reply 1

Roll-The-Dice-And-Win

1

I will be attending a 3 day BPP 'intensive' course for Level 1 CPQ this Dec.
I have spoken to some PE professionals as I get a chance to do at work and they think its a really good qualification. I spoke to one who was awarded the CPQ membership without doing any exams as she had considerable years of experience and had a partner position. If you intending to get into Private Equity/Venture Capital then it can be really helpful. Its more targeted at Corp Finance rather than accounting...although you do have to do the Financial Analysis module for Level 2 in addition to Corp Finance Diploma from SII.
Hope this helps.

Reply 2

brabzzz

14

mussy1234

I will be attending a 3 day BPP 'intensive' course for Level 1 CPQ this Dec.
I have spoken to some PE professionals as I get a chance to do at work and they think its a really good qualification. I spoke to one who was awarded the CPQ membership without doing any exams as she had considerable years of experience and had a partner position. If you intending to get into Private Equity/Venture Capital then it can be really helpful. Its more targeted at Corp Finance rather than accounting...although you do have to do the Financial Analysis module for Level 2 in addition to Corp Finance Diploma from SII.
Hope this helps.

- Level 1 is a multiple choice memory test/quiz. Nothing more.
- Being 'grandfathered' into the role means very little. It's like giving Clarkson an honourary degree. A publicity stunt. They've even extended the 'limited period' during which they allow it.
- It is (at present) very much an M&A qualification. Rumours abound that it's still a work in progress though, and it's still being shaped and refined. Because of that i'm still undecided as to what i think of it. It has yet to achieve the 'heavyweight status' of an SII-D/CFA or ACA because it is so new. Most agree that with the backing of the organisations that created the CFQ, it will eventually gain similar respect (as the damage to their credibility of letting it fail would be too great). Time will tell.
- Apart from adding some professional credibility, some think the content it teaches (or any other CF qualification) is of dubious value - compared to several years deal experience.

Indeed, it is more CF than audity. That's a mixed blessing. When you're staring at accounts trying to figure out what to do with amortisation under different accounting rules/standards, you'll wish it was a bit more audity. That said, chances are you picked CF because you have no intention being an auditor!

It seems the Big4 and other mid market firms are heading the CFQ way. As are the tier below. I think some banks are hopping onboard too and it's quiet popular with maby bluechip internal CF departments. Seems to me like it's on track for them, and i believe the SII no longer offer the 'competing' qualification. And the ACA and CFA are targeted at a different sector.

I was initially keen to get it done as soon as possible. Now i think that time spent on deals and getting experience is far better spent than on revision. I'll let you know how the L2 CFQ is when i get round to doing it!

ACA versus Corporate Finance Qualification (CFQ)

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