Yes, as this programme is a Level 7 qualification and an undergraduate degree is a Level 6, it is possible to still complete this apprenticeship as it is at a higher level than the one they have already studied.
However the trainee may be unlikely to be eligible if they have a masters degree in an accountancy-related subject.
Please note that apprentices must confirm with the examining institute if they are eligible for any exemptions with their previous qualifications. The trainee may be eligible as long as the trainee has over 12 months of study and more than 278 hours to complete.
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