What does it take to become a chartered accountant?
Chartered Accountant or Non-Chartered Accountant? That is the question. Image by Lokkis (via Shutterstock).
In the United Kingdom, there are many different kinds of accountants. We have Public Accountants, Forensic Accountants, and Turf Accountants, as well as Chartered Accountants. A turf accountant deals with the machinations of the 2.20 pm at Doncaster (or The Grand National) and feature in many parts of the UK. Forensic accountants work with criminal cases. A Chartered Accountant refers to a practising accountant who has been certified under a Royal Charter.
This is achieved through suitable work experience, successfully passing examinations, and committing himself or herself to continuous personal development. He or she needs to pass fifteen examinations and have at least 450 days of work experience before being given Chartered Accountant status.
In the UK, Chartered Accountants can be members of the following bodies:
The Institute of Chartered Accountants of Scotland (ICAS) (CA);
Chartered Accountants Ireland (CAI) (ACA or FCA);
A recognised equivalent body in another Commonwealth country (CA (name of country) for example, CA (Canada)).
After ten years membership as a Chartered Accountant, they can become a Fellow Chartered Accountant, on applying for fellowship. Any accountants that work in a public capacity need to gain a practising certificate.