“Winning first place worldwide in the ICAEW Case Study and receiving the Whinney Award is an exceptional achievement, not only for the two students involved, but for UNIC Global Training in general,” Odysseus Tavros, Deputy CEO, UNIC Global Training notes.
“To have two UNIC Global Training students achieve first place globally is a tremendous source of pride for us and is a powerful endorsement of the quality of our students, our tutors and the overall learning environment we provide,” Tavros underlines in an interview with CBN following ACA Graduates Despoina Polyviou and Katerina Stavrou’s achievements.
“Most importantly,” he continues, “it demonstrates that students studying in Cyprus and Greece can compete at the very highest international level.”
Among other things, Tavros also talks about UNIC Global Training’s evolution and discusses the key factors that have contributed to it maintaining a leading position in the Cyprus and Greece markets.
He, in addition, discusses the role of technology and its impact on the profession and explains why this is an exciting time to be entering the accountancy profession.
Two UNIC Global Training students recently won first place worldwide in the ICAEW Case Study and were awarded the highly prestigious Whinney Award. What does such a global distinction mean to UNIC Global Training and what does it indicate about the level of your students?
Winning first place worldwide in the ICAEW Case Study and receiving the Whinney Award is an exceptional achievement, not only for the two students involved, but for UNIC Global Training in general.
The Whinney Award is one of the most prestigious distinctions a student can receive within the ICAEW qualification. To have two UNIC Global Training students achieve first place globally is a tremendous source of pride for us and is a powerful endorsement of the quality of our students, our tutors and the overall learning environment we provide.
Most importantly, it demonstrates that students studying in Cyprus and Greece can compete at the very highest international level.
Hence, we warmly congratulate our students and now ACA Graduates, Despoina Polyviou and Katerina Stavrou, both from by Deloitte (Cyprus) Ltd, on this exceptional global achievement.
This particular success takes on even greater significance given that the ICAEW Case Study is one of the most demanding exams in the profession, with thousands of candidates from around 150 countries. What does it take for a student to reach such a level and how does UNIC Global Training contribute to this effort?
This is about much more than an academic ability. The ICAEW Case Study tests the student's ability to analyse complex information, exercise professional judgement, identify the key commercial issues and communicate a clear and well-reasoned recommendation.
To reach the very top, students need intellectual ability, discipline, consistency and, importantly, the ability to apply their knowledge rather than simply reproduce it.
Our role at UNIC Global Training is to create an environment where these qualities can develop. We combine experienced professional tutors, who are all Qualified Chartered or Certified Accountants, with a structured preparation, extensive examination practice and close support for our students.
Ultimately, this achievement reflects exceptional individual talent, supported by rigorous preparation and institutional guidance. A first-place global ranking requires the student to perform at the highest level.
This particular distinction comes in addition to a long-standing series of high performances by UNIC Global Training students in the ICAEW exams. What is your overall track record in global and national distinctions, as well as in success rates?
Our record in the professional examinations is something of which we are extremely proud. The facts speak louder than words.
Our success is not limited to individual ICAEW prize winners. We have consistently achieved ICAEW examination pass rates that compare very favourably with the relevant global averages, demonstrating that our strength lies not only in producing exceptional individual performers, but in delivering consistently strong outcomes across our student body.
The most recent ICAEW results, including the two first-place global rankings in the Case Study, constitute another indication that this performance has been sustained over many years.
As for the ACCA, again brilliant results for the last 5 years alone include:
My fellow Deputy CEO, Avraam Hadjihannas, brings over 30 years of invaluable experience and expertise in the field. His dedication and commitment to excellence have played a pivotal role in ensuring the highest standards of quality in the delivery of our ACCA programme. We are immensely proud to say that UNIC Global Training is a Platinum ACCA Approved Learning Partner, reflecting our unwavering commitment to professional excellence, quality education, and student success.
Speaking of UNIC Global Training, which has been present in the field of vocational education for almost 35 years, how would you describe its footprint today?
UNIC Global Training has changed considerably since it was established almost 35 years ago, formerly known as Accountancy Tutors, Christos Vlachos, one of the Founders, is the CFO at the University of Nicosia, a Member of the Council and Chairman of its Finance Committee, as well as our CEO at UNIC Global Training.
Today, UNIC Global Training is a major provider of professional and vocational education, with a strong presence in Cyprus, Greece and Romania.
Our footprint extends beyond simply delivering examination preparation. We work closely with professional bodies, such as the ICAEW/ACCA/ADIT, with leading businesses in Cyprus, Greece and Romania, such as Deloitte, PwC, KPMG, EY, Grant Thornton and many others, offering programmes across accounting, finance, taxation, business and other areas of professional education.
It is our association with the University of Nicosia that gives us a strong platform: we combine the academic resources and expertise of a major university with the practical, professional focus and examination experience that UNIC Global Training has developed over 35 years.
UNIC Global Training has maintained a leading position in the market, especially in ACA and ACCA, in Cyprus and Greece. What are the key factors that have contributed to this direction?
There are three pillars that I truly believe need to be in place to maintain your position and reputation: quality, consistency and a clear understanding of what the professional market requires.
We have invested heavily in the quality of our tutors and the resources made available, whether this is the latest technology, our virtual and physical classes and finally - but equally important - our back-room staff. In this way we have built a very strong track record of excellent examination results and National/Worldwide Prizes over the years.
Finally, we maintain close, long-standing relationships with our students’ employers, many of which have endured for more than 15 years. These relationships give us a strong understanding of employers’ needs and of how the roles of accountants and finance professionals are evolving.
How has UNIC Global Training evolved over the last five years? Are there any specific developments in students, partnerships with businesses or programs that you can share?
The last five years have been a period of significant change for UNIC Global Training.
The pandemic accelerated the adoption of digital and hybrid education, and our students today expect much greater flexibility and choice in how and when they learn. We have, therefore, strengthened our digital delivery while retaining the face-to-face interaction that remains extremely valuable in professional education.
At the same time, our relationships with the professional firms have become increasingly crucial. We work closely with all major players in the field, allowing us to ensure that our programmes remain aligned with workplace requirements.
The result is that UNIC Global Training is considerably more flexible, digitally enabled and closely connected to our clients than it was five years ago.
You currently offer a wide portfolio of programmes. What are they specifically and what changes have occurred in relation to skills and qualifications that are in line with the current needs of the employer side and the wider market?
Our portfolio covers a broad range of professional qualifications, including ACA, ACCA, CFA, ADIT and, at the same time, a very comprehensive programme of CPD’s covering Corporate Reporting, Data Analytics, Finance, Taxation, Blockchain and many other business-related programmes. We also offer bespoke corporate and professional training. Last but not least, and probably, the most popular requested programmes are related to Artificial Intelligence (AI).
In terms of skills that our clients expect? Technical knowledge remains essential, but it is no longer sufficient. Firms increasingly want professionals who understand technology and data, can communicate effectively, think commercially, analyse information and exercise sound professional judgement.
We are confident that UNIC Global Training will continue to prepare students to have these skills in order for them to thrive in a similar working environment / in their profession afterwards.
How do you combine UNIC’s academic expertise with UNIC Global Training’s specialised professional education, so that students are ready not only for the exams but also for the job market?
I am extremely proud of the relationship between UNIC and UNIC Global Training. Each of the organisation has its strengths which afterwards complement each other. The University of Nicosia provides academic depth, research expertise and a broad educational environment, while UNIC Global Training brings almost 35 years of specialist professional education, examination expertise and close links with the professional and business communities. There are no other organisations, either in Cyprus or in Greece, that can offer a similar set up.
Our objective is very clear: to produce graduates and professionals who are not only qualified, but they are employable, commercially aware and capable of progressing in their careers.
What are the success rates of your students, based on the available data, and how do they compare to the corresponding ICAEW averages?
Our students have consistently achieved strong examination results, with pass rates that compare very favourably with the corresponding ICAEW global averages.
In the most recent examination period, for example, our pass rate for the ICAEW CASE STUDY was 99%, compared with an ICAEW average of 94.2%.
Over time, this performance has been particularly encouraging as it demonstrates that our results are not dependent solely on a small number of prize winners. We have a strong underlying pass-rate performance across the student population.
The combination of consistently high pass rates and the number of global and national prize winners provides, in our view, the strongest evidence of the effectiveness of our approach.
Collaboration with companies in the sector is an important part of your activity. What are employers looking for from young professionals in the field of finance and accounting today and how do you respond to these needs?
The expectations of our clients have changed tremendously over the last 5 years. They still need strong technical financial skills, but that’s not enough. They want professionals who can “think out of the box”, along with commercial awareness, analytical competency, good communication skills, problem-solving capabilities, adaptability and the ability to work with technology are must-have tool/skill.
Our clients prefer their professionals to have the ability to learn quickly and to adapt immediately. We have seen the pace of change in finance continually evolving. Change is now the norm. Being qualified as a Chartered Accountant is no longer the end result; it’s the beginning of a lifelong learning.
UNIC Global Training is able to support our professionals to meet these expectations.
How has the way in which students choose to be educated changed and which model is currently in the greatest demand? What do you do at UNIC Global Training?
The new generation of students expect no-demand choices and flexibility in how they are educated. However, we all admit that one model does not fit for all.
Here is the challenge facing our clients: if firms are to recruit the very best trainees that Cyprus, Greece and Romania can offer, they must adapt and provide what today’s young professionals are seeking. This may include remote-working options, limited overtime, flexibility over working hours, work-life balance, a healthier working environment, support for work-related stress, and choice in how they prepare for their professional examinations. It is also worth noting that salary may no longer be the primary priority that it was 20 years ago.
Blended learning is certainly popular. It combines the convenience of online resources and recorded material with face-to-face teaching, interaction with lecturers, and opportunities to collaborate with other students. However, there remains clear demand for face-to-face education, particularly for the rigorous professional qualifications.
Our approach at UNIC Global Training is, therefore, not to choose between physical and digital education. We combine both of them.
AI and Automation are changing the role of accountants and finance professionals. How should professional education adapt to these new conditions?
AI and Automation are changing and will further change the profession. In turn, professional education and the professional qualifications have to change to reflect this.
As an elected Council Member of ICAEW, I could reassure you that we are already looking at ways to incorporate all new technologies in how we prepare the future Chartered Accountants. Our approach must reflect the workplace and this should be incorporated into our examinations.
Historically, our profession has spent considerable time collecting, processing and reconciling information. Much of this work can now be performed by technology. As a result, our profession will increasingly focus on areas where human judgement adds value: analysis, interpretation, professional scepticism, ethics, communication, and strategic thinking.
We must ensure that AI users understand how these tools work, how to use them effectively, and the limitations and risks involved.
Our view is that we should not fear AI. It is not our competitor, but a tool that can help us work more efficiently and effectively. We should focus on the opportunities presented by technological change, while managing the associated risks. Professionals who embrace technology, rather than resist it, will be best positioned to benefit from this transformation.
How do you see the demand for internationally recognised qualifications such as ACA, ACCA, CFA and ADIT in an increasingly internationalised job market?
I believe that demand for internationally recognised professional qualifications will remain strong. Twenty years ago, most students pursued a degree alongside a professional qualification. Today it is increasingly common for students to complete an undergraduate degree, potentially followed by a Master’s and a professional qualification, such as the ACA or ACCA. We are also seeing a growing trend towards a second qualification or specialist credential, for example in Tax (ADIT), AI, Data Analytics or Financial Analysis (CFA).
We operate in an increasingly international market. Businesses recruit across borders, professionals move between countries and organisations increasingly need people who understand international standards, taxation, finance and regulation.
Many of our qualified students are pursuing successful careers across Europe, the United Kingdom, and Canada, including through remote-working opportunities. I am frequently struck by how often I encounter former students at airports around the world!
The ACA and ACCA remain internationally recognised qualifications that support global career mobility.
What are the key strategic objectives of UNIC Global Training over the next five years? Are there any plans for further development?
Over the next five years, our objective is to build on UNIC Global Training's strong position while significantly expanding its reach and capabilities.
Our priorities include further investment in digital and blended learning, expanding our portfolio of internationally recognised professional qualifications, strengthening our relationships with key employers and professional firms, and developing programmes that address emerging areas such as AI, data analytics, sustainability and financial technology.
We also see significant potential in combining the academic capabilities of the University of Nicosia with UNIC Global Training's professional expertise to develop new programmes and reach new markets.
Ultimately, our ambition is to establish UNIC Global Training as an even stronger regional centre for professional education: one that serves Cyprus and Greece, but is increasingly capable, at the same time, of attracting students and delivering professional education internationally.
We are not seeking simply to become bigger. We think big and would like to become more relevant to the future of the professions we serve.
As Deputy CEO of UNIC Global Training and an ICAEW Council Member, what do you consider to be the most significant change you have seen in the accounting and finance industry during your career?
When I began my career back in the 1990s in London, working for the mid-tier firm, PKF, accounting was mainly focused on recording, processing and reporting financial information. Back then, we still used fax machines, the introduction of Lotus 123 (today’s Excel) and hundreds of typists preparing our manual financial statements. Technology has now automated much of that work.
Today, the finance professional is increasingly expected to be a business adviser, an analyst and a strategic partner to management. The profession has moved from asking "What happened?" to increasingly asking "Why did this happen?” “What will happen next?”, and “What should we do about it?".
The arrival of AI is accelerating that transformation.
I strongly believe this is an exciting time to enter the profession. The foundations of accounting remain as important as ever, but the opportunities for professionals who combine those foundations with technology, commercial understanding, judgement and communication skills are greater than they have ever been.
