Finance Qualifications: the quiet influencer in hiring, career progression and company culture

In accounting, qualifications can be perceived as an indication of capability. Many people believe the letters after a name stand for technical skill, business acumen, or leadership potential, depending on which qualifications they are. These perceptions, shaped by history, industry trends, and long-standing professional narratives, can sometimes matter more than the actual skills an individual brings to the role.

This matters because how qualifications are viewed quietly influences hiring decisions, career progression and company culture.  For instance, a CFO recruiting a successor may instinctively shortlist candidates with the same qualifications as their own, not through conscious-bias, but because familiarity feels like a reliable marker of excellence.. 

As a result, ACA, ACCA, and CIMA are often treated as signals of different types of finance professionals. Alternative routes to senior leadership, such as  the CFA or an MBA, can also shape which candidates are perceived to be  ‘CFO-ready.’ These assumptions are rarely challenged, despite their significant impact on succession planning, leadership decisions, and perceptions of credibility at the top.

Given the influence these views have on careers and leadership, we’ve mapped out key nuances and perceptions associated with each qualification below:

ACA, ACCA, and CIMA each point to a different career direction.

ACA is often associated with strong technical skills, structured training, and top-tier professional environments, largely due to its prestige and heritage in the UK, particularly with leading audit and advisory firms. ACCA, in contrast,  is seen as broader and more global, thanks to its wide reach and accessibility. CIMA is typically linked to management accounting, business strategy, and the development of commercial skills. 

While these perceptions are shaped by history and branding, they can overlook the fact that all three qualifications often create skilled, senior finance leaders.

Leaders’ backgrounds shape their perceptions.

It’s in no doubt that professional accountancy qualifications remain highly trusted and valued. Indeed, Chartered Accountants are consistently ranked among the most trusted professions worldwide, which helps explain why the ACA is still so appealing to employers. According to the fifth wave of the Trust Survey conducted by Edelman DXI for Chartered Accountants Worldwide (CAW), the profession ranks third globally for trust, just behind doctors and engineers, and well ahead of other accountancy qualifications. Further research shows that many employers consider certifications such as ACA, ACCA, or CIMA as more important than experience alone when hiring finance professionals. This helps explain why CFOs with traditional accounting backgrounds are still often selected for leadership roles, even though broader skills and diverse experience are becoming increasingly essential for the CFO position. 

CFA and MBA are often seen as ways to boost a career, not as starting points.

At senior levels, an MBA now clearly signals strategic business leadership. In large companies, more CFOs now hold MBAs than traditional accounting qualifications, reflecting how hiring priorities for finance leaders have evolved. The CFA, while not a core accounting qualification, demonstrates strong analytical skills and knowledge of capital markets, especially for roles involving investors or finance strategy. 

While neither the MBA nor CFA replaces core accounting credibility, both can change perceptions, quite often in listed, private-equity-backed, or high-growth businesses.

Qualifications shape first impressions, but careers are ultimately built on results. As the CFO role continues to expand into strategy, companies that move beyond traditional qualifications are better positioned to identify the leaders they truly need.

At The Siena Partnership, we work with our clients to recruit finance professionals across industries, helping organisations innovate and deliver value creation.

If you’d like to continue the conversation with one of our finance experts, Jake, you can reach him at jake@thesienapartnership.com