To become a Chartered Accountant in Australia or New Zealand, aspiring members must undertake the Chartered Accountants Program. A premier admission program, it is internationally recognised, providing Provisional Members with the technical accounting knowledge, business and professional skills necessary to excel in today's global marketplace. The program is composed of five modules, four.

Chartered accountants were the first accountants to form a professional accounting body, initially established in Scotland in 1854. The Edinburgh Society of Accountants (1854), the Glasgow Institute of Accountants and Actuaries (1854) and the Aberdeen Society of Accountants (1867) were each granted a royal charter almost from their inception.^[1] The title is an internationally recognised professional designation; the certified public accountant designation is generally equivalent to it. Women were able to become chartered accountants only following the Sex Disqualification (Removal) Act 1919 after which, in 1920, Mary Harris Smith was recognised by the Institute of Chartered Accountants in England and Wales and became the first woman chartered accountant in the world.^[2]

Chartered accountants work in all fields of business and finance, including auditing, taxation, financial and general management. Some are engaged in public practice work, others work in the private sector and some are employed by government bodies.^[3][4][5]

Chartered accountants' institutes require members to undertake a minimum level of continuing professional development to stay professionally competitive.They facilitate special interest groups (for instance, entertainment and media, or insolvency and restructuring) which lead in their fields. They provide support to members by offering advisory services, technical helplines and technical libraries. They also offer opportunities for professional networking, career and business development.^[6]

• 1Countries

Countries[edit]

Australia[edit]

Chartered accountants of Australia belong to the Chartered Accountants Australia & New Zealand (CA ANZ, formerly the Institute of Chartered Accountants in Australia) and use the designatory letters CA.^[7] Some senior members (at least 15 years' membership) of the institute may be elected fellows and use the letters FCA. Of equal legal status and recognition in Australia as qualified professional accountants are Institute of Public Accountants (IPA) and CPA Australia.^[8] On 28 June 2016, the Association of Chartered Certified Accountants (ACCA) and CA ANZ announced a strategic alliance to provide an opportunity for dual membership of both bodies, which will add value for the members locally and globally. ACCA members resident in Australia and New Zealand will be invited to apply for CA membership and CA ANZ members will be invited to apply for ACCA membership, subject to meeting the eligibility criteria of the other body.

Bangladesh[edit]

The Institute of Chartered Accountants of Bangladesh (ICAB) is the national professional accounting body of Bangladesh. Established in 1973, it is the sole organization with the right to award the Chartered Accountant designation in Bangladesh. Senior members (at least five years' membership) of the institute are called 'fellow members' and use the letters FCA.

Bangladesh has more than 1,900 registered Chartered Accountants and more than 28,000 articled students.

Belgium[edit]

The European Institute of Chartered Accountants (EICA) is incorporated in Belgium. Qualified members of the institute use designation Chartered Accountant (CA). To attain membership, the applicant needs to complete examination requirements along with practical work experience.^[9]

Others are stlil invited to send in some poems to be posted on this blog tomorrow. Reply Delete. About the Typist. Richard P Cincinnati, OH, United States View my complete profile. Loose Dog Press The Typewriter Revolution: The Book Typewriter pads for sale. Blog Archive. MS Word 2011 for Mac: a typewritten review; Aphorisms. Open a new blank document. The insertion point ('writing line') is now at the paragraph mark at the top of the page. Use either the menu bar Format Paragraph. Or the Paragraph Spacing settings on your Home tab, if you have that feature turned on, and set the Spacing Before to approximately 280 points. I figured these thoughts on the relation between old and new might be appropriate to this blog. This is not a true typecast, but was written with MS Word Mac 2011 (I really do like its Full Screen mode!) using my Remington Noiseless font. The typewriter revolution blog: ms word 2011 for mac.

Bermuda[edit]

The Institute of Chartered Accountants of Bermuda works with the Canadian Institute of Chartered Accountants and American Institute of Certified Public Accountants, and is the sole organisation in Bermuda with the right to award the Chartered Accountant designation.^[10]

Canada[edit]

In Canada, chartered accountants belong to the Canadian Institute of Chartered Accountants (CICA) by way of membership in at least one provincial or territorial institute (or 'order' in Quebec). In order to become a member, a candidate requires an undergraduate degree plus experience and, depending on the province, additional education. Candidates in all provinces are required to pass the three-day Uniform Evaluation (UFE) now Common Final Examination (CFE).

Since 2012, the CICA has been in a process of unification with the other two accounting bodies in Canada. Canadian CA's, along with Certified General Accountants (CGAs) and Certified Management Accountants (CMAs), have now adopted the designation Chartered Professional Accountant (CPA), making the term 'chartered accountant' obsolete.

Czech Republic[edit]

In the Czech Republic, Chartered Accountants are generally members of Institute of Chartered Accountants of the Czech Republic and use the designatory letters CAE (Chartered Accountant expert).^{[citation needed]} Chartered Accountants may also be members of the Chamber of Auditors of the Czech Republic (KACR),^[11] with whom the ICAEW launched its ACA qualification in 2015.^[12]

European Union[edit]

Under the Mutual Recognition Directive, European Economic Area (EEA) and Swiss nationals holding a professional qualification can become members of the equivalent bodies in another member state.They must, however, pass an aptitude test in understanding local conditions (which for accountants will include local tax and company law variations).

The local title is, however, not available for use if the professional does not choose to join the local professional body. For example, a holder of the French expert-comptable ^[fr](in French) qualification could practise as an accountant in England without taking a local test but could only describe him or herself as 'expert-comptable (France)' not 'Chartered Accountant'. Within the EEA, only the UK and Ireland have bodies that issue the Chartered Accountant title.

India[edit]

In India, Chartered Accountants are regulated by the Institute of Chartered Accountants of India (ICAI) which was established by the Chartered Accountants Act, 1949. Associate members of the ICAI are entitled to add the prefix CA to their names. Members who are in full-time practice, and have completed five years of practice, can use FCA.^[13] As of April 2017, the ICAI had nearly 270,000 registered members.^[14]

Entry to the profession can be made by taking the CA Foundation Course after completion of schooling (12th grade). Alternatively, graduates may train as an articled assistant for three years in a chartered firm before final exam or after completion of Intermediate of Cost Accountant or Company Secretary.A comprehensive 100 hours of information technology training and an orientation programme for soft skills development have to be completed before being articled.^[15] However the CA certification is limited to the geographical boundary of India and is not valid in countries that follow different standards of accounting practice^[16][17].

Ireland[edit]

In Ireland, Chartered Accountants are generally members of Chartered Accountants Ireland and use the designatory letters ACA or FCA. Chartered accountants may also be members of the Institute of Chartered Accountants in England and Wales or the Institute of Chartered Accountants of Scotland.

Nepal[edit]

In Nepal, the profession of Chartered Accountancy is regulated by the Institute of Chartered Accountants of Nepal (ICAN) which was established by parliament under the Chartered Accountants Act, 1997.

After completion of three levels of examination (CAP I, CAP II, and CAP III) with three years of articleship training under a qualified CA, one can get the membership of ICAN and with the Certificate of Practice (COP), one can practise as a professional accountant.

New Zealand[edit]

In New Zealand, Chartered Accountants belong to the Chartered Accountants Australia & New Zealand (CA ANZ, formerly New Zealand Institute of Chartered Accountants) and use the designatory letters CA. Some senior members may be elected fellows and use the letters FCA.

There is also a mid-tier qualification called Associate Chartered Accountant with the designatory letters ACA. Associate chartered accountants are not eligible to hold a certificate of public practice and therefore cannot offer services to the public.

Pakistan[edit]

The Institute of Chartered Accountants of Pakistan (ICAP) is the professional body of Chartered Accountants in Pakistan, established on 1 July 1961 under the Chartered Accountants Ordinance, 1961. ICAP is the sole body and authority in Pakistan which has a mandate to regulate the accounting and auditing profession in the country. It adopts and develops the national auditing standards and develops accounting standards for the Securities and Exchange Commission of Pakistan (SECP). It represents accountants employed in public practice, business and industry, and the public sector. The Institute is a member of the International Federation of Accountants (IFAC), which is the global organization for the accountancy profession.

ICAP has more than 7,000 active members and more than 25,000 students. Other national accountancy bodies include Institute of cost and management accountants of Pakistan (ICMAP),^[18] PIPFA, etc. ICAP and ICMAP are full members of International federation of accountants and PIPFA is an associate member. Besides these national accountancy bodies, Association of Chartered Certified Accountants (ACCA) also has a strong presence in Pakistan.

Singapore[edit]

The Chartered Accountant of Singapore (CA (Singapore)) title is protected under the Singapore Accountancy Commission (SAC) Act. The pathway to obtain the designation is owned by the SAC, a statutory body of the government. The Institute of Singapore Chartered Accountants (ISCA) is a designated entity in the SAC Act and confers the CA (Singapore) designation on behalf of SAC. The Singapore Chartered Accountant Qualification programme has three components: academic base, professional programme and 3 years of practical experience. ISCA and the SAC have worked to raise the profile and promote the Singapore CA Qualification for international recognition.

Applicants who are eligible for the Singapore Chartered Accountant Qualification foundation programme should have either accredited degrees, other degrees, undergraduates and local polytechnic diplomas. Those with who are eligible for direct entry into the professional programme should have local accountancy degrees from Nanyang Technological University, National University of Singapore, Singapore Management University, Singapore University of Social Sciences, and Singapore Institute of Technology.

In 2013, holders of Association of Chartered Certified Accountants (ACCA) and CPA Australia have until 31 December 2016 and existing students have until 31 December 2018 to complete the ICPAS PAC and qualify for the 'Chartered Accountant of Singapore' professional designation through the previous transitional arrangements.^{[19][20][19][20][21]}

South Africa[edit]

In South Africa, SAICA (South African Institute of Chartered Accountants) regulates the Chartered Accountant (South Africa) designation, CA (SA).

To qualify as a CA (SA), one requires a specialised bachelor's degree in accounting, followed by a Certificate in the Theory of Accounting (CTA); depending on the university, this is offered as a postgraduate honours degree or as a postgraduate diploma. This formal education is followed by two external competency exams set by SAICA.

A separate registration is needed for Chartered Accountants wishing to act as auditors in public practice as a registered auditor (RA). The RA designation is conferred by IRBA (Independent Regulatory Board For Auditors, previously known as Public Accountants and Auditors Board [PAAB]) under the Auditing Profession Act (AP Act).^[22]

Candidates must complete three years of practical experience, working for a registered training office – the Training In Public Practice (TIPP) programme. Articled clerks who switch employers during this period are required to extend their training by six months. The Training Outside Public Practice (TOPP) programme has a financial management focus; TOPP trainees can thus become Chartered Accountants with a more limited knowledge and experience of auditing than those who undergo the TIPP programme, but with a more extensive financial management and business experience.

Chartered accountants who are not registered auditors may not act as or hold out to be auditors in public practice.^[23] However, the AP Act does not prohibit non-RAs from using the description 'internal auditor' or 'accountant', or from auditing a not-for-profit club, institution or association if they receive no fee for such audit.^[24]

In South Africa the Companies Act was replaced, with effect in July 2010, to allow companies without a public interest to choose between an audit or an independent review. A review is not an attest function and will be performed by accountants who are members of bodies that are registered in terms of the Close Corporations Act of 1984, which include SAIBA, CIMA, SAICA, SAIPA and ACCA.

Sri Lanka[edit]

In Sri Lanka, the title of Chartered Accountant (CA Sri Lanka) can be used by only members of the Institute of Chartered Accountants of Sri Lanka. These could be Associate Members (ACA) and Fellows (FCA). Chartered accountants holding practising certificates may also become Registered Auditors, who are able to perform statutory financial audits in accordance with the Companies Act, No. 07 of 2007. Chartered Accountants can also register as company secretaries.

List of institutes of chartered accountants[edit]

• Chartered Accountants Australia and New Zealand as a result of merger of New Zealand Institute of Chartered Accountants (NZICA) and the Institute of Chartered Accountants Australia (ICAA) in 2013^[25]
• European Institute of Chartered Accountants^[9]

References[edit]

1. ^Perks, R.W. (1993). Accounting and Society. London: Chapman & Hall. p. 16. ISBN0-412-47330-5.
2. ^Walker, Stephen P. (14 March 2019). 'Smith, Mary Harris'. Oxford Dictionary of National Biography. doi:10.1093/odnb/9780198614128.013.111926.
3. ^'Life as a CA has many advantages'. ICA Scotland. Archived from the original on 27 September 2011. Retrieved 6 October 2011.
4. ^'Why Chartered Accountancy?'. CA Ireland. Retrieved 6 October 2011.
5. ^'Where do Chartered Accountants work?'. ICA Australia. Retrieved 6 October 2011.
6. ^'Benefits of joining the ICAEW'. Retrieved 6 October 2011.
7. ^'About membership and inclusions'. ICAA. Retrieved 15 October 2012.
8. ^'Advancement to Fellowship'. ICAA. Retrieved 15 October 2012.
9. ^ ^ab'Home European Institute of Chartered Accountants'. eicaglobal.com. Retrieved 4 October 2019.
10. ^'Institute of Chartered Accountants of Bermuda'. icab.bm. Archived from the original on 15 November 2016. Retrieved 1 May 2012.
11. ^'About the Chamber of Auditors of the Czech Republic'. Retrieved 2 November 2018.
12. ^'ACA training in the Czech Republic'. ICAEW. Retrieved 2 November 2018.
13. ^'ICAI - The Institute of Chartered Accountants of India'. ICAI.
14. ^'Key statistics'. ICAI. Retrieved 6 December 2017.
15. ^'www.icai.org'. Institute of Chartered Accountants of India. Retrieved 24 July 2016.
16. ^'Miles Professional Education introduces US CMA course in Kolkata'. Sify. Retrieved 21 September 2019.
17. ^'CA vs ACCA 5 Best Differences To Know (With Infographics)'. EDUCBA. 19 October 2018. Retrieved 21 September 2019.
18. ^https://www.icmap.com.pk
19. ^ ^abMOF Announces Details of New Professional Accountancy Designation (2 April 2013)Archived 29 October 2013 at the Wayback MachineAsiaOne
20. ^ ^abSingapore Prepares for a 2-tier Accounting Profession (4 April 2013)The Business Times
21. ^Singapore QP FrameworkArchived 2013-03-09 at the Wayback MachineSingapore Qualification Programme
22. ^Auditing Profession Act s37(2)
23. ^Auditing Profession Act s41(a)
24. ^Auditing Profession Act s41(3)
25. ^'Who We Are'. Chartered Accountants Australia and New Zealand. Archived from the original on 13 November 2016.

The Institute of Chartered Accountants in Australia (the Institute) was the professional accounting body representing Chartered Accountants in Australia before it merged with the New Zealand Institute of Chartered Accountants to become Chartered Accountants Australia and New Zealand.

It had over 61,000 members and some 12,000 students. It was one of three major legally recognised Professional Accountancy bodies in Australia. The others being CPA Australia and Institute of Public Accountants.^[1][2] It is a founding member of the Global Accounting Alliance (GAA).^[3] Members of the Institute are part of the international accounting coalition of the world’s premier accounting bodies, the GAA. Chartered Accountants audit 100 per cent of the Top ASX-listed companies in Australia.

In November 2013 Members of The Institute of Chartered Accountants in Australia and the New Zealand Institute of Chartered Accountants voted yes on a proposal to create One New Institute: 'Chartered Accountants Australia and New Zealand'.^[4]

New Zealand Institute of Chartered Accountants and the Institute of Chartered Accountants in Australia (ICAA) amalgamated to become Chartered Accountants Australia and New Zealand.

• 1History
• 2Admission to membership

History[edit]

Corporation of Accountants of Australia[edit]

The Corporation of Accountants of Australia was granted the official coat of arms by the College of Arms in 1905.^[5] In 1906, the Corporation of Accountants of Australia and the Sydney Institute of Public Accountants moved to create a national accounting body of all practising public accountants in Australia.^[6]

Australasian Corporation of Public Accountants[edit]

In 1907, negotiations between the Corporation of Accountants of Australia, the Sydney Institute of Public Accountants and the Institutes in Melbourne, resulted in the formation of the Australasian Corporation of Public Accountants (ACPA) on June 14. The ACPA membership was composed exclusively of practising public accountants.^[6]

Institute of Chartered Accountants in Australia[edit]

The Institute of Chartered Accountants in Australia was formed with the granting of a Royal Charter on 19 June 1928, to Thomas Brentnall, George Mason Allard and Henry Joshua Wise on behalf of the public accountants of Australia.^[7][8] The ICAA was the first accountancy body outside the United Kingdom to receive a Royal Charter.^[9]

On 26 October 1929 The Earl Marshal of England granted the current arms to the Institute.^[10] The arms include the Latin motto 'Nec Timens Nec Favens' which translates to 'Without Fear or Favour'.

The Institute now operates under a Supplemental Royal Charter (amended from time to time) granted by the Governor-General on behalf of Queen Elizabeth II on 19 August 2005.^[11]

Chartered Accountants Australia and New Zealand[edit]

After voting on the merger with the New Zealand Institute of Chartered Accountants the bodies formed Chartered Accountants Australia and New Zealand 31 December 2014.

CA ANZ is a professional body of over 120,000 Chartered Accountants around the world. CA ANZ focuses on the education and lifelong learning of its members, and on advocacy and thought leadership in areas of public interest and business.

Admission to membership[edit]

To become a member of the Institute, Chartered Accountants complete the Chartered Accountants Program which includes study of the Graduate Diploma in Chartered Accounting (GradDipCA) and three years of practical experience. Entry to the Program is available for graduates who hold an accounting degree, however those holding non-accounting degrees may also be permitted entry after some additional requirements are met.

Accounting degree[edit]

To take this path you will have either a bachelor or master's degree in commerce, business or accounting from an Institute accredited Australian university. The commerce and business degrees will require a major in accounting, in order to qualify.

Non Accounting degree[edit]

There are three routes for non-accounting graduates can take to qualify for the Chartered Accountants Program:

1. Institute accredited Graduate Conversion course: Available from most Australian universities
2. Entrance exam: Available for non-accounting graduates with significant on-the-job accounting experience and employer support
3. A Graduate Certificate of Chartered Accounting Foundations from Deakin University.

Graduate Diploma in Chartered Accounting[edit]

The GradDipCA component of the Chartered Accountants Program consists of the following five modules which each take approximately 14 weeks of part-time study to complete:

• Auditing and Assurance
• Taxation
• Management Accounting and Applied Finance (As of 1 January 2013)
• Financial Accounting and Reporting
• Capstone (as of 1 January 2014)

The Institute is the only Australian professional accounting body that is a government accredited Higher Education provider.Unlike other Australian accounting designations, the Chartered Accountants Program leads to the awarding of a Graduate Diploma.The Australian Chartered Accountant qualification is recognised as an “approved qualification” - a significant requirement for auditor registration purposes in the UK.

Practical experience[edit]

To meet the practical experience requirements to become a Chartered Accountant in Australia, you must:

1. Be employed with an organisation recognised by the Institute for at least 17.5hpw whilst completing the GradDipCA
2. Recording your work experience with a Chartered Accountant mentor
3. Apply for full membership after completing the GradDipCA and accumulating at least three years of practical work experience.

Membership[edit]

There are a number for different membership categories:

• Members: Have the designation CA after their name.
• Fellows: Have the designation FCA (Fellow Chartered Accountant) after their name. These members have been nominated for advancement Fellowship and have been a continuous member for 10 years and have been in a senior position for seven years. To be advanced to Fellow the member must have demonstrated 'leadership'
• Affiliate membership: Have an accounting degree and at least five years membership, but have not completed the Chartered Accountants Program.
• Teacher of Accountancy: For teachers to obtain membership, they are required to have completed a Doctorate or Masters by research with a major in an accounting related field, held a senior academic position for not less than five years, have appropriate Australian Taxation and Corporation Law knowledge and have references from two Chartered Accountants and their Head of School, and another significant academic
• Certificate of Public Practice: Firms or members who offer their services to the public as 'Chartered Accountants'.

Continuing education[edit]

Chartered Accountants continue their education to ensure they are able to provide the highest standards of integrity and professionalism. A Chartered Accountant must complete a total of 120 hours of Continuing Professional Education every three years.^[12]

Ethical Standards[edit]

The institute collaborates with CPA Australia and the Institute of Public Accountants in supporting the Accounting Professional & Ethical Standards Board (APESB), founded in 2006.APESB publishes ethics-related standards that must be followed by accountants in Australia based on the international standards published by the International Ethics Standards Board for Accountants (IESBA).^[13][14]

See also[edit]

References[edit]

1. ^ASIC Website
2. ^Australians Accountants Directory
3. ^'Alliance Members'. Global Accounting Alliance. Retrieved 12 December 2013.
4. ^Khadem, Nassim (1 November 2013). 'Accountants vote yes to trans-Tasman Institute. Next stop: Asia'. BRW. Archived from the original on 14 December 2013. Retrieved 12 December 2013.
5. ^Fox-Davies, Arthur Charles (1915). The book of public arms : a complete encyclopedia of all royal, territorial, municipal, corporate, official, and impersonal arms. London: London, Edinburgh : T.C. & E.C. Jack. p. 8.
6. ^ ^abCooper, K. (2007). 'Accounting by Women: Fear, Favour and the Path to Professional Recognition for Australian Women Accountants'. Working Paper 14. School of Accounting & Finance, University of Wollongong. Retrieved 12 December 2013.
7. ^Cooper, K. (1995). 'Some Professionalisation Strategies Of Australian Accountancy'. Working Paper 2. School of Accounting & Finance, University of Wollongong. Retrieved 12 December 2013.
8. ^Altintas, Nalan (July 2012). 'The Accounting Profession: A Descriptive Study of the Common and Code Law Countries'. Journal of Modern Accounting and Auditing. 8 (7): 932–950. ISSN1548-6583.
9. ^Jones, Stewart (2010). Financial Accounting Theory, 3rd Edition(PDF). Victoria Australia: Cengage Learning Australia. ISBN9780170182010.
10. ^Murphy, Mary (January 1959). 'Comparative Professional Accountancy - Australia'. The Accounting Review. 34 (1): 46–51. JSTOR241140.
11. ^'Archived copy'(PDF). Archived from the original(PDF) on 20 September 2008. Retrieved 4 April 2009.CS1 maint: archived copy as title (link)
12. ^'FAQs Training requirements'. ICAA. Retrieved 12 December 2013.
13. ^'About APESB'. APESB. Archived from the original on 4 April 2011. Retrieved 8 June 2011.
14. ^'APESB at a Glance'. APESB. Archived from the original on 12 April 2011. Retrieved 8 June 2011.

External links[edit]