Navigating the relationship between professional bodies and universities
Despite shared goals, professional bodies and universities face persistent challenges. ICAEW is working to address them.
In the world of accountancy education, few relationships are as important as the one between Professional, Statutory and Regulatory Bodies (PSRBs) and Higher Education Institutions (HEIs). PSRBs such as ICAEW set professional standards, accredit programmes, and determine the pathway to membership of the profession, while academia aims to provide students with a broad education that develops technical knowledge, critical thinking, and research-informed understanding.
For ICAEW the collaboration between both parties is vital for the future of the accountancy professional and academia. That is why we have developed the ICAEW Partner in Learning scheme Online resources for professional education and higher education institutions (HEIs) to assist in providing tuition and support for students studying toward ICAEW qualifications. ICAEW website. over the last fifteen years — to create a mechanism for ongoing constructive and supportive dialogue.
There are clearly big wins for all parties when we work together. Students value exemptions from professional exams or credit for prior learning (CPL) and HEIs value the prestige and improved employability outcomes. Additionally, CPL addresses some of the themes raised in the government’s recent Post-16 education and skills white paper. Department for Education, Department for Work and Pensions and Department for Science, Innovation and Technology (2025). Post-16 education and skills white paper.
Yet, despite these shared interests, there can often be an undercurrent of tension between PSRBs and academia about who should have ultimate control of the syllabus. ICAEW is committed to working with all HEIs regardless of their approach to CPL. We advise caution to students using CPL as the only criterion for choosing a course, as in recent times employers are exercising their right not to accept the credits. Employers are not obligated to accept CPL and have reasons for declining it, including wanting to refresh or assess a student’s knowledge base at the start of a training contract.
At its core, the connection between PSRBs and academia must be mutually beneficial as it should serve the best interests of the student. HEIs seek accreditation from professional bodies to enhance the attractiveness of their programmes. A degree that carries CPL from professional exams can be a deciding factor for prospective students. When choosing programmes, studies show students are most influenced by those closest to them, mainly their parents/guardians and teachers. Without clarity between the differences in programmes at different HEIs, CPL can become almost the only deciding factor for a student choosing a course. Clearly, this puts increased pressure on HEIs to get as many credits as possible.
The relationship between PSRBs and HEIs typically manifests in two main ways:
Accreditation and CPL: PSRBs review university programmes to determine whether they align with professional exam requirements and cover the learning objectives and examinable skills. Programmes may then be granted CPL, reducing the number of exams graduates need to sit. Different PSRBs have different requirements. What counts for credit with one body may not with another, complicating programme design in trying to satisfy as many PSRBs as possible.
Employability Links: Students benefit directly through smoother entry into professional careers, while employers gain confidence that graduates possess industry-recognised knowledge.
In principle, this creates a virtuous circle: academia produces work-ready graduates, PSRBs maintain standards, and students progress smoothly into professional roles. Yet, it also creates challenges.
Book for Pop-up 2026
We’re gathering in London on Friday 6 February 2026 at St Matthew’s Conference Centre in Westminster.
Book nowChallenges facing the relationship between PSRBs and HEIs
Curriculum control
One of the most persistent issues raised is the extent of professional body influence on academic programmes. PSRBs have clear competency frameworks, but these do not always align. HEIs often feel pressured to prioritise content to secure credits across multiple PSRBs which can lead to the course feeling as though it is designed by the professional bodies rather than the HEI.
At ICAEW, we seek input into our curriculum from a wide and varied range of stakeholders, including students, regulators and HEIs. ICAEW involves multiple stakeholders when updating our syllabus to ensure that students have the correct knowledge and skills base to start their journey in a professional environment. We also contributed to the QAA Subject Benchmark Statement Subject Benchmark Statement: Accounting (2025), QAA website , providing HEIs with a central location for creating and updating a programme.
Communication channels
Due to structures at different PSRBs and universities, not all communications reach the right contacts. For example, Early Careers teams at ICAEW work with both academic and careers contacts which can mean upcoming events are not communicated across the HEI. Consequently, students are either unaware or can miss out on opportunities to hear from us. Within HEIs, information from PSRBs is not distributed to the right people within the department.
We suggest an open conversation within departments around who is responsible for the relationships with PSRBs, for cascading information and setting up ways to share key information and resources from PSRBs. We want to ensure that all relevant academics know what is happening and how to access free resources and support materials. That’s why we invite and welcome any individual at an HEI to join the ICAEW Partner in Learning scheme, which offers a single portal and point of contact.
Employability vs. education
Students and those around them influencing their decision on which HEI to pick are understandably attracted to courses with strong professional links, but this can create a perception that the value of a degree lies only in its accreditation rather than the other skills they will learn whilst at university.
Administrative and resource burden
The accreditation process is not trivial and is highly regulated. Universities must invest significant time and resources into mapping their curriculum against PSRB requirements, producing detailed documentation, and undergoing periodic reviews. While this ensures accountability, universities may feel it diverts energy from teaching innovation, but it is pivotal to ensuring programmes are updated and reflect the PSRB’s syllabus, thereby preparing students for the profession. PSRBs, in turn, must ensure that all documentation is up to date and of sufficient quality to withstand the annual regulatory inspection.
Skills vs. knowledge
While the syllabus created by PSRBs for their qualifications covers a wide range of professional skills and knowledge, some of these skills and knowledge can only be developed through a training agreement with the employer. As a result, acquiring a foundation of knowledge from HEIs during these pivotal years is equally important.
More than ever, employers are looking for professional skills — whether communication, teamwork, or presentation — as these are all pivotal in the transition from learning to the working world. ICAEW members must undertake annual CPD to maintain professional competence. We try to instil this commitment to lifelong learning in students through Specialised Learning modules in the Next Generation ACA. This allows them to tailor their development to specific areas of interest.
HEIs also have an opportunity to emphasise these skills within their courses. Professional competencies are as important as technical knowledge: they differentiate candidates with similar qualifications and cultivate a commitment to lifelong learning.
Conclusion
Looking ahead, the relationship between PSRBs and HEIs has the potential to become even more dynamic and impactful. By building on the shared commitment to student success, both sides can work to overcome the challenges and focus on creating pathways that combine professional rigour with academic breadth. This collaboration not only strengthens employability outcomes but also fosters graduates who are adaptable, critical thinkers, and ready to contribute meaningfully to a profession that is fast-changing with a focus on sustainability, ethics and technology.
The future of accountancy education lies in harnessing the strengths of both worlds; together they can ensure that students don’t just meet today’s expectations but are equipped to shape the profession of tomorrow. With continued dialogue, creativity, and shared purpose, the partnership between PSRBs and HEIs can serve as a model of how education and the profession can evolve for the benefit of students, employers, and the profession.
From unrequited love to sleeping with the enemy
In this Accounting Cafe seminar, our guests argued that to protect the future of accounting education a new social partnership is necessary between universities and the professional accounting bodies.
Read more© Accounting Cafe
Aidan Ward‑Hendry
Aidan is the Academic Education Manager at ICAEW, where he oversees the Partner in Learning programme. In this role, he supports more than 200 higher education institutions globally, ensuring they have access to the resources, guidance and collaboration they need from ICAEW.
He is committed to strengthening academic partnerships and helping institutions deliver high-quality learning experiences aligned with the profession’s standards.
