2022 has been another record year for ICAEW student recruitment, with 11,962 (2021: 11,049) new students joining the institute in 2022.

The newly released annual report explains that student growth is considered crucial to the future success of ICAEW, which relies on the progression of students into its membership base.

The year-on-year 8% increase in ACA student numbers meant income from education and training continued to grow, to £18.5m for the year (2021: £17.4m). This is broken down to £12.8m from exam fees and £5.7m in student fees and charges. However, this does not include the sale of learning material, as these are lumped in commercial, events and sponsorship income of £13.5m.

There are now 36,084 students studying towards the ACA qualification.

Total ICAEW income for the year was £141.7m and the net result after tax for the year was £13.6m. Subscription and fees remained stable at £55.3m, reflecting steady year-on-year growth in membership numbers. ICAEW has 166,397 members.