The ILFM offers exemptions to students who have studied relevant  qualifications prior to starting the ILFM's  qualifications. This means that you may not have to take all of the exams at the ILFM Diploma or Associate Level. We want you to start your studies at the right level.*

You can check your Exemptions below, and contact us for further information:

The exemption fee is £90 (per exemption).  You will be issued with an Exemption Certificate.

Qualifications considered for exemption (From 16th January 2016, policy cannot be back dated):

1) ILFM Diploma D1: Bookkeeping for Legal Finance Professionals Certificate:

  • ACCA F3 and above (Association of Chartered Certified Accountants)
  • CIMA (Chartered Institute of Management Accountants)
  • AAT (Association of Accounting Technicians) Level 2 and above.
  • ICAS (The Institute of Chartered Accountants of Scotland)
  • Some relevant university degrees in Accounting or Finance

NB. There are no exemptions for the Diploma Level D2: Legal Finance Compliance & Accounts Rules Certificate 

2) ILFM Associate – AA: Accounting for Legal Finance Professionals Certificate and AFM: Financial Management Certificate

  • ACCA F7 and above
  • CIMA
  • AAT Level 4
  • ICAS
  • Some relevant university degrees in Accounting or Finance

NB. There are no exemptions for Associate Level ALPM: Legal Practice Management Certificate or Associate ATAX: Tax for Legal Finance Professionals.

* Contact the ILFM Office for full details, terms and conditions.

Exemptions we have gained with other qualification providers that recognise your ILFM Qualifications and may exempt you from certain levels or exams.

*Please note: There are restrictions on how many exemptions are allowed within the AAT accounting qualifications and exemptions are only available for up to 50% of the units that make up an AAT qualification.
Students must pay an exemption fee for each unit that they receive an exemption from.

Diploma Level 

If the student has completed the following ILFM qualification they will be exempt from the following AQ2016 unit below: 

Qualification achieved
Exemptions from: Advanced Diploma in Accounting
ILFM Certificate in Bookkeeping for Legal Finance Professionals (Diploma level)

    Advanced Bookkeeping

Qualification achieved
Exemptions from: Advanced Diploma in Accounting
ILFM qualification in Accounting and Financial Management (Associate level)

  Advanced Bookkeeping

 Qualification achieved
Exemptions from: Professional Diploma in Accounting

 ILFM certificate in Accounting and Financial Management (Associate level)

  Financial Statements of Limited Companies

  External Auditing


Further information about the AAT qualifications and the syllabus can be found on the AAT’s website.   https://www.aat.org.uk/find-a-course

Description: Must have completed the Diploma plus all three additional exams to become an Associate Member: Accounting, Financial Management and Legal Practice Management


Subject nameSubject levelModule(s) required for Exemption
BA1 Fundamentals of Business EconomicsCertificate BACore
BA2 Fundamentals of Management AccountingCertificate BACore
BA3 Fundamentals of Financial AccountingCertificate BACore
BA4 Fundamentals of Ethics, Corporate Governance and Business LawCertificate BACore

Details of the exemptions awarded to the ILFM can be found at: https://www.cimaglobal.com/Starting-CIMA/Starting-CIMA/Exemptions/Exemption-Search/Institute-of-Legal-Finance--Management-ILFM-12315/?qualification=1-N9V08X

Richard Hill, a past ILFM Chair continued onto CIMA after completing the ILFM Diploma and Associate levels.

ILFM members who gained the Diploma, Associate Accounting and Financial Management qualifications between January 2014 through to December 2018 will be eligible for the following exemptions:

ACCA QualificationsILFM Qualifications eligible for exemption
F2 - Management Accountingrequires the ILFM Accounting and Financial Management to be completed between January 2014 to December 2018
F3 – Financial Accountingrequires the ILFM Diploma, Accounting and Financial Management to be completed between the period of January 2014 to December 2018


As part of the accreditation process the ILFM syllabus has been mapped to the ACCA syllabus to ensure there is approximately 80% comparable syllabus coverage and comparable examination methods.

Further information about the ACCA qualifications and the syllabus can be found at ACCA’s website www.accaglobal.com

Other Accounting bodies

The ILFM are currently working with other accounting bodies to obtain accreditation for exemptions from other qualifications.