Chartered Accountancy

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. The title is an internationally recognised professional designation, and is generally equivalent to the American certified public accountant designation.

Chartered accountants work in all fields of business and finance, including audit, 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.

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.

Chartered accountants of Australia belong to the Chartered Accountants Australia & New Zealand formerly Institute of Chartered Accountants in Australia and use the designatory letters CA. Some senior members (at least 10 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. On 28 June 2016, ACCA and CA ANZ, the Chartered Accountants Australia and New Zealand, have announced a strategic alliance which will add value to the members locally and globally. Provide an opportunity for dual membership of both bodies. 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.

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