The Chartered Accountants of Scotland are under the Scottish professional organization called ICAS, or Institution of Chartered Accountants of Scotland. This institution was established in 1854, making it as the oldest professional institution of accountants around the world. Institute of Chartered Accountants of Scotland was the first institute to designate the title Chartered Accountant to its members. It was also the first institution to allow the title CA be attached before the accountant’s name.
ICAS was established to uphold professionalism in accountancy and to establish integrity in servicing a wide-array of clients. It also educates and trains future chartered accountants that will service the country in the next generation. To qualify, applicants must pass a series of examinations. The exams are divided into three categories namely Test of Competence, Test of Professional Skills, and Test of Professional Expertise. Along with the exams, the applicant must also meet the requirements asked by the institution. One of the requirements is the 3-year training which is a combination of classroom-type teaching and work-based training. There are also programs and activities that ICAS offers to part knowledge and enhancement to CA applicants.
The Institute of Chartered Accountants of Scotland performs various significant roles in public, private, and business sectors, which tackles the following:
Being a member of The Global Accounting Alliance or GAA, the members of ICAS can do tasks of auditing and financial reporting in other regions such as the United Kingdom, Republic of Ireland and Luxembourg.