LTAS18.3 Recommendation for approval of the MSc, Postgraduate Diploma and Postgraduate Certificate in Professional Accountancy Programme (UCL)

Transcription

1 Recommendation for approval of the MSc, Postgraduate Diploma and Postgraduate Certificate in Professional Accountancy Programme (UCL) Purpose Members of the Learning, Teaching and Assessment Sub-committee (LTAS) are invited to consider the attached report from a panel meeting held on 5 th December 2014 with a view to endorsing the panel s recommendation to formally approve the new MSc, Postgraduate Diploma and Postgraduate Certificate in Professional Accountancy (UCL), subject to the conditions stipulated in the report. Background and Context A panel was convened on behalf of LTAS to consider the proposal for the introduction from January 2016 of a new distance learning Professional Accountancy programme at Masters, Postgraduate Diploma and Postgraduate Certificate levels. The MSc, Postgraduate Diploma and Postgraduate Certificate in Professional Accountancy has been designed with the Association of Chartered Certified Accountants (ACCA) and will be the first programme offered under the Track C framework. Overall responsibility for the programme will be with the International Academy in partnership with the Lead College (UCL). A unique feature of the programme is that the programme modules will also be recognised by ACCA as part of its professional level qualifications. Recommended Action Members of the Learning, Teaching and Assessment Sub-committee are invited to consider the report with a view to: Note the recommendations made by the panel in relation to the MSc in Professional Accountancy programme Endorse the panel s recommendation for approval of the MSc, Postgraduate Diploma and Postgraduate Certificate in Professional Accountancy to be delivered from January 2016, subject to the conditions stipulated in the report. Endorsement by LTAS, if provided, will be considered by the University of London International Academy Academic Committee. Corporate Performance and Quality, University of London International Academy January 2015

2 Programme Approval LEARNING, TEACHING AND ASSESSMENT SUB-COMMITTEE Report of a panel meeting convened on behalf of the Learning, Teaching and Assessment Sub-committee to consider the approval of the Postgraduate Awards in Professional Accountancy Programme: Lead College: MSc, Postgraduate Diploma and Postgraduate Certificate in Professional Accountancy (new programme) University College London (UCL) Date of Meeting: Friday 5 th December 2014 Venue: Bloomsbury Room, Senate House, London PART A: THE APPROVAL PROCESS AND FORMAT OF THE EVENT Introduction 1. The University of London International Academy (UoLIA) has designed a postgraduate programme in Professional Accountancy through a strategic partnership with the Association of Chartered Certified Accountants (ACCA), the world s largest accountancy professional accountancy body. Feedback from market analysis, conducted jointly by the UoLIA and ACCA, provided very strong support for the proposed professional level qualifications programme. 2. The new postgraduate programme will offer the opportunity for students to achieve the awards of MSc, Postgraduate Diploma and Postgraduate Certificate in Professional Accountancy. A phased approach to the development of the programme has been agreed with ACCA. Phase 1 will commence with a master s programme offering two modules within financial and performance management. The modules will be designed and assessed by UoLIA (in collaboration with University College London (UCL) as the Lead College and combined with a Strategic Financial Project. 3. The unique selling point of the programme includes the introduction of optional modules by UoLIA, (initially in the general areas of advanced financial and performance management), as being recognised by the professional body as part of its professional level qualification. The programme dovetails with the ACCA professional level papers, which have been benchmarked at Level 7 of the Framework for Higher Education Qualifications (FHEQ). A Panel was established to consider the proposed programme, convened on behalf of the International Programmes Learning, Teaching and Assessment Sub-committee (LTAS) which, in turn, reports to the University of London International Academy Academic Committee (ULIAAC). 1

3 4. The Senior Leadership Team at UCL considered the proposal for the programme and the programme will be subsequently discussed by the Teaching and Learning Committee and the Faculty Teaching and Learning Committee. 5. The Professional Accountancy awards will form the first subject specific provision under the new Track C framework. The vision for Track C is to provide a channel to develop large scale flexible learning programmes which incorporate an innovative and engaging design. International Programmes Approval 6. The International Programmes current procedures for the approval of new programmes allow LTAS to designate consideration of new programme developments to an LTAS panel. In accordance with these procedures, a Panel was convened to meet on 5 th December 2014 to consider the programme proposals on behalf of LTAS. The panel acted as a sub-group of the LTAS in this instance and was concerned with the academic approval of the Postgraduate Awards in Professional Accountancy. During the course of the event the Panel met with members of the programme team from UCL, senior management from both UCL and the International Academy and members of staff from the Academic Development Directorate, International Programmes, as follows: Dr Mary Stiasny, Pro Vice-Chancellor (International) and Chief Executive, University of London International Programmes Dr Stephanie Wilson, Director of Corporate, Performance and Quality, University of London International Programmes Mr Craig O Callaghan, Director of Operations and Deputy Chief Executive, University of London International Programmes Mr Mike Kerrison, Director of Academic Development, University of London International Programmes Mr Tim Wade, Associate Director: Assessment and Awards, University of London International Programmes Ms Pamela Roberts, Associate Director: Admissions, Regulations and Learning Resources, University of London International Programmes Ms Judith Collier, Policy and Development Manager, Academic Development, University of London International Programmes Mr Matthew Cox, Programme Manager, Corporate Performance & Quality, University of London International Programmes Mr Jonathon Thomas, Policy and Development Manager (Portal), University of London International Programmes Dr Alan Parkinson, Director of Studies, Department of Management Science and Innovation, UCL Miss Laura Kerrigan, UCL Teaching Fellow, Department of Management Science and Innovation, UCL Ms Lynsie Chew, Senior Teaching Fellow, Department of Management Science and Innovation, UCL 7. The Panel s recommendations will be reported to LTAS. Following this, the outcomes from the approval event will be considered by ULIAAC and the International Academy Board prior to authorisation by the Vice-Chancellor of the University of London. This reporting and approval mechanism is in place to reflect the fact that programmes offered by the International Academy are awards of the University of London. 2

4 International Programmes Approval Panel 8. Membership of the International Programmes approval Panel was as follows: Dr Julie Clark (Chair) Dr J Simon Rofe Mr Jon Renyard Academic Registrar, Royal Veterinary College Member of the Learning, Teaching and Assessment Sub-Committee (LTAS) Programme Director, Global Diplomacy, SOAS, University of London Member of the Quality Assurance and Student Lifecycle Sub-Committee (QASL) University Secretary and Director for Student Experience, Arts University Bournemouth Professor Jim Haslam Head of Accounting and Finance, Newcastle University Business School Professor Pauline Weetman Mr Andrew Hopwood Mrs Rebecca Cook (Secretary) Mr Jitinder Hans (Assistant Secretary) Ms Inger-Lise Moen (In attendance) Professor Emeritus of Accounting, University of Edinburgh Business School LLM, Student Member Quality Manager, Corporate Performance & Quality, University of London International Academy Quality Manager, Corporate Performance & Quality, University of London International Academy Acting Head of Quality, Corporate Performance & Quality, University of London International Academy Documentation for the International Programmes Panel Meeting 9. Members of the Panel received the following documentation in advance of the approval meeting held on 5 th December 2014: Professional Accountancy draft Programme Regulations and Programme Specification, incorporating draft module specifications. General regulations for assessment and scheme of award Track C. The Common Awards Framework (CAF) for Track C programmes. General regulations for registration Track C, General regulations for recognition of prior learning Track C. Track C Briefing Paper. 3

5 Learning, Teaching and Assessment Framework: Track C. Track C Framework Approval paper presented to ULIAAC. Final Report on the Track C Framework Approval: Note regarding the response to conditions arising from the approval event. Draft Quality Assurance Schedule: MSc in Professional Accountancy, between the International Academy and UCL. Subject benchmark statement: master s degrees in business and management. MSc in Professional Accountancy Programme Proposal Report. PART B: CONSIDERATION OF THE PROPOSAL Introduction 10. The new postgraduate programme in Professional Accountancy will offer the opportunity for students to ultimately achieve the awards of MSc, Postgraduate Diploma or Postgraduate Certificate in Professional Accountancy through distance learning. It is the intention to provide different routes of entry for students, depending on their professional membership status. While there are plans to offer various routes within the overall programme, at present, the approval panel was invited to comment on the overall proposal relating to the awards of MSc, Postgraduate Diploma and Postgraduate Certificate in Professional Accountancy. 11. Pending approval, the programme will be offered under Track C regulations and frameworks, which were approved by the Board of the University of London International Academy in Under Track C the responsibility for overseeing academic direction, programme development and the quality of the student experience is the responsibility of the International Academy in partnership with the Lead College. The programme will operate under a collaboration agreement for International Programmes with UCL. UCL, as the Lead College, will provide academic direction in developing the learning content and activities and management of students through progression from admission to award, primarily through the appointment of a Programme Director, Module Leaders and Online Tutors. 12. UoLIA has agreed a Memorandum of Understanding (including UoLIA, ACCA and UCL as signatories) and a Non-Disclosure Agreement to underpin the strategic relationship with the professional body which will lead to a more detailed agreement for the programme. Rationale and Purpose 13. The MSc in Professional Accountancy is consistent with the mission of the University of London International Programmes, to widen access to university awards internationally, and of the ACCA, to provide opportunity and access to aspiring finance professionals worldwide. Structure of the Programme 14. The MSc in Professional Accountancy consists of three core professional level papers of the ACCA qualification (referred to as Professional Essentials; ACCA P1 Governance, Risk and Ethics, ACCA P2 Corporate Reporting and ACCA P3 Business Analysis and will attract a total of 90 credits of Accredited Prior Learning (APL). A further three modules totalling 90 credits will be offered in collaboration with UCL (Department of Management 4

6 Science and Innovation). Students will study two (30 credit) modules in phase 1 (PAC004 Strategic Financial Management and PAC005 Strategic Performance Management) and a 30 credit PAC006 Strategic Financial Project. These two modules will be recognised by ACCA as options at the professional level. The two modules will be based on existing ACCA modules or options, Advanced Financial Management and Advanced Performance Management. 15. The Postgraduate Diploma in Professional Accountancy consists of a minimum of two of the three professional level papers of the ACCA qualification and will attract a minimum of 60 credits of Accredited Prior Learning (APL) and two UoLIA modules (PAC004 Strategic Financial Management and PAC005 Strategic Performance Management). The Postgraduate Certificate in Professional Accountancy consists of two modules (PAC004 Strategic Financial Management and PAC005 Strategic Performance Management). 16. Additional option modules will be offered in the future or in phase 2. MOOC tasters will be available in Quarter 4 in Discussions with the Programme Team and Management Group Introduction 17. Members of the approval Panel discussed a number of aspects of the proposed programme, in particular its delivery and assessment, with the Programme Development Team. Issues relating to staff development and the form of contract between ACCA and the University of London were discussed with the Senior Leadership Team. These discussions are summarised in the following paragraphs. Quality Assurance 18. The Senior Management Team was asked about responsibilities in relation to the Quality Schedule. The panel was informed that the MSc in Professional Accountancy would be the first programme offered under the Track C Framework. The approval process for Track C mirrors Track B and follows current governance processes of both the UoLIA and UCL. The Panel heard that academic direction would be provided by the partner Lead College, UCL, who would be responsible for the development and maintenance of academic content in each module, delivery of each module to schedule and ensuring that assessment has been completed to the appropriate academic standards. UoLIA would be the awarding body and would have oversight of the programme. Quality assurance of the programme would follow existing processes, including annual programme reviews and a periodic programme review as well as internal UCL Review. 19. The Panel required further clarification about the governance of the programme and asked the Senior Management Team about the agreement between ACCA and UoLIA with regard to quality assurance in the setting and application of academic standards, including membership of the Board of Examiners and oversight of the examination setting process. The Panel was informed that the principle of the agreement was that UoLIA module credits would count towards the ACCA qualification and ACCA would have oversight of the examination setting process for the PAC004 Strategic Financial Management and PAC005 Strategic Performance Management modules and for the PAC006 MSc Strategic Financial Project. This could be in the form of an ACCA representative being an advisory member of the Board of Examiners, however, the full 5

7 details of the agreement still needs to be finalised between UoLIA and ACCA. 20. The Panel raised the issue of potential competitors for the programme and asked the Senior Management Team to outline the nature of the collaboration with ACCA, details of which could be used to reassure potential students on possible progression pathways. The Panel was informed that ACCA is in a process of drafting a press release regarding the collaboration with UoLIA. The Panel was also informed that there would be regular monitoring of the agreement with ACCA and it was explained that a liaison post would be created to facilitate this. Staffing Resources and Staff Development 21. The senior management and programme development teams were asked about the scalability plan for the programme. The Panel was informed that there was a ten year scalability plan as part of the programme Business Plan. The programme development team emphasised that there is an appropriate core team of four full time staff in place and it was anticipated that there would be an additional post within the core team. It was explained that the core team has experience of accounting and finance knowledge and technological understanding, including online submission of coursework and marking. A strategy for identifying and recruiting new staff is in place. New Tutors would be recruited by UCL and approved by UoLIA. 22. The Panel was asked about training for new tutors on technical developments including on the VLE. The Panel was informed that a tutor induction process would be developed. The Programme Development Team was taking advice from the Centre for Distance Education (CDE) on how training for tutors may be accredited or form part of accredited learning. Training for tutors would be carried out online. Training on teaching and assessment would be available to Teaching Institutions and training would be scheduled within visits to Teaching Institutions. It was intended that tutors would be provided with training on supporting students with the dissertation project (MSc PAC006 Strategic Financial Project). Learning and Teaching 23. The Programme Development Team was asked to clarify the application of blending learning in terms of the programme. The Panel was informed Track C provides a regulatory framework on how blended learning is applied. The Programme Development Team informed the Panel that all resources developed for the programme would be available to all students and that all students would have an opportunity to engage with other students online. The VLE would feature links to the UoLIA e-library and resources. It was explained that all students would be able to access learning materials through a range of different formats and devices (e.g. mobile, laptop, e-reader, desktop and hard copy). Student induction on the VLE would include information on how to navigate around the online rooms and tools as well as how to make use of resources (audio as well as visual). To facilitate study students would have to carry out a series of tasks designed to get them to use the online environment at an early stage. Some content on the VLE would be embedded while other content would be signposted. 24. Formative assessment would include online quizzes with automated feedback to students. As each student progresses through their learning on each module a Skills Portfolio would be constructed through their progress log. There would be two elements of coursework leading to a written examination for the option modules (PAC004 Strategic 6

8 Financial Management and PACC005 Strategic Performance Management). The first coursework would be completed early in the module delivery and would provide tutors with an opportunity to motivate and encourage students. The second coursework would be more detailed and provide further feedback to students. Feedback on coursework would support students in preparing for the module written examination. 25. The programme Development Team explained that learning materials developed would recognise the different learning styles and students would have a choice of flexible learning. Two different learning routes would be available to students. Students could opt for online learning as a Web Supported Learner with access to an Online Tutor or study at a local Teaching Institution with support from a local tutor at a Teaching Institution. Students would also have the opportunity to communicate with one another via online forums. 26. The Panel raised the issue of plagiarism, a problem that could potentially increase in future years with students using previously submitted work. The panel was informed that plagiarism controls would be built into the programme including providing students with new data sets to work from. 27. The Panel asked for clarification whether compensation would be available to students and in which modules. The Panel were informed this would be made clear in the programme regulations. Programme 28. The Panel had some concerns regarding of any future changes to the syllabuses for the three core ACCA papers, ACCA P1 Governance, Risk and Ethics, ACCA P2 Corporate Reporting and ACCA P3 Business Analysis especially as the life cycle of a UoLIA programme would be longer than a potential ACCA syllabus review. The Panel asked what controls would be in place to mitigate this risk. The Senior Management Team recognised this risk element, however, the Panel was informed that there was a reciprocal agreement in place that would enable both parties to be informed of future changes to syllabuses. It was noted that changes to syllabuses are common to ensure currency. The Panel was also informed that around 80% of the two modules offered (PAC004 Strategic Financial Management and PAC005 Strategic Performance Management) would be based on ACCA options. 29. The Panel asked for clarification regarding the option modules available and was informed that in Phase 1 there would be two options or modules available (PAC004 Strategic Financial and PAC005 Management and Strategic Performance Management) students would have to complete both options or modules. UoLIA and ACCA would be developing new options in Phase 2. New options in Phase 2 would be informed by employers, accountancy professionals and students. Additional options could be developed by either UCL or other lead colleges. New options would include an accountancy and a finance option. 30. The Panel noted that the master s degrees in business and management subject benchmark was used in the development of the programme as none existed for Accountancy and that there was no mention of Accountancy in the draft programme specifications. The Panel asked on the usefulness of the business and management subject benchmark. The Panel noted that subject benchmarks if not relevant should only be used if useful in the development of the programme and that the absence of 7

9 benchmarks for accountancy was because they could be seen as too constraining for a subject area that changes rapidly. The Panel was informed that the programme had been developed without reference to QAA subject benchmarks as the business and management subject benchmark had limited relevance. 31. The Panel asked about the coherency of the programme including programme aims and vison. The Panel noted that the three modules were the most appropriate in terms of skills required in Accountancy. Learning Outcomes and Progression 32. The programme team was asked about how the programme would enhance student careers. The Panel was informed that the programme would provide underpinning knowledge in accounting and finance and would contribute to understanding of middle and senior management responsibilities within accountancy and finance. The Strategic Financial Project would enable students to blend theory with practice by applying research to a scenario. The Panel was further informed that the linking of formative and summative assessment, a dynamic VLE, and development of a skills portfolio would allow students to demonstrate competency. Successful completion of the programme would lead to ACCA recognition as well as a master s. 33. The Panel raised the issue of the large number of learning outcomes (LO) listed and whether students would be able to demonstrate learning against all LO in every assessment or examination. The Panel was informed that ACCA were of the view that the LO were not detailed enough. However, ACCA has acknowledged the extent and detail of subject material produced and further dialogue is taking place. 34. Panel members expressed some concern that students may not have a first degree or have research skills needed in order to complete the PAC006 Strategic Financial Project successfully. The panel was informed that the programme was developed with the assumption that students would not have dissertation research skills. Students would be taught how to apply research methodology, identify issues, apply data analysis and develop an evidence based solution. The role of the project would be to bring together skills learnt in the option modules (PAC004 Strategic Financial Management and PAC005 Strategic Performance Management) and application of these learnt skills to a given scenario. PART C: CONCLUSION Approval Outcome 35. On behalf of the approval Panel, the Chair thanked the Senior Management Team and Programme Development Team for engaging in constructive discussion of their innovative programme with the Panel. She noted that while there was still work needed to ensure a successful launch of the programme there was clearly considerable willingness on the part of the programme team to develop the programme. 36. The Panel concluded that the proposal for the UoLIA MSc in Professional Accountancy with UCL as the academic Lead College, be recommended for approval to the International Programmes Learning, Teaching and Assessment Sub-committee. This recommendation 8

10 for the programme s approval, to commence in January 2016, was also subject to satisfactory fulfilment of the conditions set out below (see paragraph 39). 37. In addition, the Panel made some recommendations to the programme team (see paragraph 40 (a) to 40 (b)). 38. The Panel also commended the programme team on various aspects of the proposal. Details of these commendations are provided in paragraphs 41 (a), (b), (c) and (d) of this report. Conditions 39. The panel stipulated that the following conditions must be met prior to the launch of the programme in January A formal response to the conditions must be submitted for approval by the Panel and the Chair of the Learning, Teaching and Assessment Sub- Committee by 1 st April The conditions are as follows: (a) The UoLIA should finalise the agreement with ACCA concerning exclusivity and recognition to ensure there is a clear contract with applicants and students prior to offers of study. (b) In order to fully articulate how the award title and the learning outcomes reflect each other, the Programme Development Team must focus and refine programme level learning outcomes to reflect what is anticipated and was described by the Team at the meeting. (c) To clarify programme regulations regarding, i) the availability of the postgraduate certificate as an exit award, ii) the availability of compensation between assessments within modules iii) specify that the MSc Strategic Financial Project is a compulsory module. Recommendations 40. The Panel made the following recommendations in relation to the MSc in Professional Accountancy: (a) To articulate in writing student guidance regarding the MSc Strategic Financial Project to guard against possible plagiarism or submission of earlier work. (b) To consider the use of traits or similar terminology as a means of detailing aims that are secondary to the overall learning outcomes. Commendations 41. The Panel commended the programme team on the following aspects: (a) The realistic project plan timescale prior to programme commencement. (b) The articulated approach of both the Senior Management Team and the Programme Development Team. (c) The readiness to embrace a range of assessment methods for both formative and summative assessment. 9

11 (d) On the pioneering partnership with ACCA. First draft: 22/12/14 Chair s approval: 08/01/15 Final: 08/01/15 10