New Era University

College of Accountancy
FAAP ACSCU-AAI Level III Re- accredited
No.9 Central Ave., New Era, Quezon City 1107, Philippines, Quezon City

EDUCATIONAL SYSTEM
OF ISRAEL

Joan B. Laroya
3 BSA-1
Accounting Education
● Academic Requirements
a. One has to receive a bachelor’s degree in a dual-major at a university in Israel:
usually economics and accountancy, or management and accountancy and
sometimes law and accountancy.
● Age Requirements
a. No age requirement
● Length of the Study
a. Upon receiving the bachelor’s degree (which takes 3-4 years) most students
choose to study an additional year, “a supplemental year,” in which deeper
knowledge in accountancy and taxation is acquired.
● Cost
a.

Licensure Examination
● Academic Requirement
○ There are two different programs for obtaining an auditor’s license: an academic
and a non-academic program. Approximately 80% of the people joining the
profession nowadays choose the academic program.
■ Academic Program
● One has to receive a bachelor’s degree in a dual-major at a
university in Israel: usually economics and accountancy, or
management and accountancy and sometimes law and
accountancy.
● Upon receiving the bachelor’s degree (which takes 3-4 years)
most students choose to study an additional year, “a supplemental
year,” in which deeper knowledge in accountancy and taxation is
acquired.
 ● Students that have completed the “supplemental year” must pass
two final exams of the Council in advanced financial accountancy
and advanced auditing.
● Once the students have received the degree, they are eligible for
a two-year apprenticeship in an auditing firm (or another body
approved by the Council).
● To receive an auditor’s license, one must complete the above
mentioned program successfully.
■ Non Academic Program
● As mentioned above, only a minority of the people joining the
profession choose the non academic program.
● The program is based on self-study and/or on studies at non-
academic schools. The candidate must pass 15 external exams
administered by the Council arranged in four sessions:
● The students completing this program must also complete a two-
year apprenticeship in order to receive a license.
● The Israel Auditors' Council has decided to add an exam at the
Final A session on “Information Technology” based on the IEG 11
recommendations.
● Age Requirement
○ No age requirement
● Subject
○ Academic Program
■ advanced financial accountancy
■ advanced auditing.
○ Non Academic Program
■ Interim A (trade calculations, introduction to economics, introduction to
accountancy)
■ Interim B (costing and managerial accountancy, auditing, introduction to
law)
■ Final A (financial accountancy, trade and labor laws, corporate law,
statistics, funding)
■ Final B (advanced managerial accountancy, tax law, advanced auditing,
advance financial accountancy)
■
● Type and manner of examination
○ Pen and Paper examination
● Administration
○ Auditors' Council and the Institute of Certified Public Accountants in Israel
(ICPAI)
Accounting Practice
● Requirements
○ Initial
 ■ Two copies of your license certified by an Israeli lawyer (not necessarily a
notary) or certified and notarized abroad according to local laws and
authenticated by the Israeli Embassy or Consulate
■ Letters of recommendation from previous employer(s) approving 2 years
of practical experience
■ If you do not hold a license and have a university degree in accountancy
or business administration, you have to submit official academic
transcripts.
○ Renewal
■ There are no requirements for continuing professional development
(CPD). ICPAI supports implementation of Israeli Auditing Standards
through its Institute for Continuing Professional Education and Certificate
Programs, which has conducted several seminars with regard to
implementing auditing standards. ICPAI plans to provide ongoing
seminars with regard to future new standards and updates and improve
its offerings on a continual basis.
● Reciprocal Eligibility
○ For International CPA, she/he must take an exam first like the local CPA.
○ Two copies of your license certified by an Israeli lawyer (not necessarily a notary)
or certified and notarized abroad according to local laws and authenticated by the
Israeli Embassy or Consulate
○ Letters of recommendation from previous employer(s) approving 2 years of
practical experience
○ If you do not hold a license and have a university degree in accountancy or
business administration, you have to submit official academic transcripts.
■ Exams in English are held once a year, in November-December.
■ Exams in Hebrew are held twice a year, in the spring and autumn.
■ For a list of the exams administered in English\French\Spanish, please
contact the Auditors Council
○ You may bring a dictionary to the exams.
○ You may contact the Auditors’ council to inquire which types of legal material
may be used during the exam.
○ Applicants who do not hold a CPA or CA licenses must pass additional exams
according to the Auditors Council decision.
● Range of compensation
○ The average accountant gross salary in Israel is ₪ 182,217 or an equivalent
hourly rate of ₪ 88. In addition, they earn an average bonus of ₪ 6,378. Salary
estimates based on salary survey data collected directly from employers and
anonymous employees in Israel. An entry level accountant (1-3 years of
experience) earns an average salary of ₪ 130,354. On the other end, a senior
level accountant (8+ years of experience) earns an average salary of ₪ 225,106.
Accounting Postgraduate
● It is not applicable because the course of accountancy in Israel is a postgraduate
degree. But, students can take other postgraduate course like Master in
Business Administration.
● Requirement
○ Local Students
■ Israeli academic institutions base their decision on the candidates'
undergraduate GPA (must be at least 3.2), their GMAT scores and
recommendation letters. In cases candidates already completed
another master's degree with high average or completed their B.A.
or B.Sc. with an extremely high average they will be exempt from
the GMAT.
○ International Students
■ Israeli academic institutions base their decision on the candidates'
undergraduate GPA (must be at least 3.2), their GMAT scores and
recommendation letters. In cases candidates already completed
another master's degree with high average or completed their B.A.
or B.Sc. with an extremely high average they will be exempt from
the GMAT.
■ In case students did not complete their undergraduate studies in
an English speaking country, they need to take an English
proficiency test, such as TOEFL. Candidates that did not complete
their undergraduate studies in related fields (business
administration, economics etc.) will have to complete several
undergraduate-level courses in math and economics.
● Program
○ The international graduate programs discussed in this article are entirely
in English. Both MBA and MA Management programs include theoretical
courses in various fields including finance, accounting and marketing. In
most tracks, students must participate in internships and practical
workshops. It is a chance to see things from "the inside" – find out how
the theories studied in class are implemented (or ignored) in real life.
● Length of study
○ An MBA will take an additional one to two years to complete.
● Cost
○ University tuition costs range from $12,000 to $15,000 (10,700 to 14,000
EUR) for one academic year. Upon enrolling, international students are
required to make a non-refundable deposit at most universities, which
typically amounts to $150 (135 EUR).