College CFOs must be accountants in major rule change

13 Jul 2026

From next year the largest further education colleges wanting to hire CFOs must ensure applicants are qualified accountants

The Department for Education (DfE) has tightened up the rules for further education colleges hiring senior financial staff, starting for the 2027 academic year.

The new rules are set out in an update to the DfE’s College financial handbook, stating: ‘From 1 August 2027, the recruitment processes for a chief financial officer (CFO) must specify that the person should hold a professional accountancy qualification and be a member of a professional accountancy body.’

The DfE stated that for colleges with over 3,000 students ‘the CFO should hold a professional accountancy qualification from a professional body such as the ICAEW, ACCA, CIMA or CIPFA or equivalent’.

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