Certification in Chartered Accountant
Forming a professional body, Chartered Accountants were the first accountants, primarily found in Britain in year 1854. After that, the Edinburgh Society of Accountants (formed 1854), the Glasgow Institute of Accountants and Actuaries (1854) and the Aberdeen Society of Accountants (1867) were each granted a royal charter from their inception. The title is an internationally reckoned and recognized professional designation. Usually, Chartered Accountants work in all areas of business and finance. Chartered Accountants Institutes need members to acquire in charge a minimum level of long-lasting professional development to stay ahead of their peers. Facilitating special interest groups like lead academic and professional thinking in accountancy, they used to support members by proffering advisory services, technical help lines and technical libraries. In addition, they provide opportunities for professional networking, career and business development. In US, the approximate equivalent is the certified public accountant.
Certificates are basically designed to allow you to accomplish a coherent grouping of degree credit courses at university level as either part of or independent from a full degree program. Depending upon the subject area and specialization, the number of courses differs for any given certificate.
Chartered Accountant Certification in Different Countries
- United Kingdom – There is no as such license requirement for individuals to depict themselves or practice as accountants, though to render services as Chartered Accountant, he/she must be members of the following organizations: ICAEW (Institute of Chartered Accountants in England and Wales), ICAS (Institute of Chartered Accountants of Scotland), and ICAI (Institute of Chartered Accountants in Ireland). CA who is involved with public practice must possess a practicing certificate by meeting further requirements like undergoing regular inspections and buying adequate insurance.
- Ireland – In this country, CA are generally members of Institute of Chartered Accountants in Ireland, though can also be the members of ICAS or Institute of Chartered Accountants of Scotland.
- EU accountants – Under this, Swiss and EEA nationals holding a professional qualification can develop into members of the equivalent bodies in another member state. However, they must pass an aptitude test in understanding local conditions, including local tax and company law variations complied for accountants.
- Australia – Using the designator letters as CA, in Australia CAs belong to Institute of Chartered Accountants of Australia.
- New Zealand – Here CAs belong to New Zealand Institute of Chartered Accountants, whereas some of them might be elected from fellows.
- Canada – Here CA must be members of the Canadian Institute of Chartered Accountants (CICA) and its membership must be held along with membership of as a minimum one CA institute belonging to any Canadian province or territory. The Business Corporations Act provides CAs that certifications, which can be used as provincial regulatory body and auditing public companies.
- South Africa – Here, SAICA (South African Institute of Chartered Accountants) adheres the CAs designation and certifications.
- India – ICAI (Institute of Chartered Accountants) is responsible for examinations, licensing and certifications of its members. Registered with 16,000 members, it is the second biggest body of professional accountants in the world.
- Pakistan – The profession of Chartered accountancy has been regulated by the ICAP (Institute of Chartered Accountants of Pakistan).
- Sri Lanka – Using designator letters as ACA, Chartered Accountants belong to Institute of Chartered Accountants of Sri Lanka.
List of Institutes of CA Certifications
The following is the list of institutes, which takes care of certifications required in the field of Chartered Accountant: