One side-effect for the pandemic on ICAS and ICAEW students is the possible extension of their training contracts!
ICAS PQs can have been given a gap/absence of one month without affecting the training contract length (typically three years). In normal circumstances, periods greater than one-month lead to the contract being extended.
ICAS is extending this gap/absence period to three months without the training contract length requiring to be extended for students who are put into a Furlough Scheme. Although the Chancellor extended the furlough scheme on 12 May 2020 ICAS will not be increasing the permitted leave of absence beyond three months. Consequently, any student who continues to be furloughed beyond three months will have their training contract extended.
An ICAEW spokesperson told PQ magazine that staff can be furloughed for up to 12 weeks without impacting their training agreement. They are able to undertake tuition and sit exams during this period. ICAEW has also temporarily suspended the ACA assessment requirement requiring all other ACA exams to have been passed or attempted before the case study can be attempt.
