The UK has decided to raise the bar on who can become a college CFO.
New rules mean anyone who wants to be a CFO will need to hold a professional accountancy qualification.
From 1 August 2027 further education colleges with more than 3,000 students must have a CFO who holds a qualification with ACCA, ICAEW, CIMA, CIPFA, or equivalent.
The government handbook says any adverts must specify that the person should be a qualified accountant. The college must also inform the Department of Education If it is planning to appoint a new CFO who is not qualified , including explanation on why it is not appointing a qualified accountant.
