The Institute of Chartered Accountants in England and Wales is the oldest and largest accountancy body in Europe with more than 100,000 members. The ICAEW is the most prestigious Chartered Accountancy body of the United Kingdom and attracts many students every year who want to become qualified accountants. 

In 1993, the ICAEW decided to offer its training for the first time outside the UK. Cyprus was elected due to the high standard that the accountancy profession maintains on the island. This was the most exciting development in the area of professional accounting studies in Cyprus.

Intercollege, being the leader in the area of professional training, entered into cooperation with the largest Chartered Accountancy training company in the UK, namely Financial Training Company, with the aim of offering a high quality course in Cyprus.

The ICAEW has revised the Chartered Accountancy qualification and this will be in effect from September 2007 onwards. This new structure enables students at the Professional stage to be introduced to the core concepts through basic knowledge and application thereon. Further on in the Advanced stage students focus on the technical and strategic skills needed to become a fully qualified Chartered Accountant.