Institute of Chartered Accountants in Ireland
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| Abbreviation | Chartered Accountants Ireland |
|---|---|
| Formation | 26 May 1888 |
| Legal status | Chartered body |
| Membership | 25,000 |
| President | Liam Lynch |
| Chief Executive | Pat Costello |
| Governing body | Council |
| IFAC member since | 7 October 1977 |
| Website | www |
Established by Royal Charter on 14 May 1888,Chartered Accountants Ireland is Ireland's largest accountancy body. In the period 2004 to 2014, the body was the "fastest growing" accountancy body in the UK and Ireland, with membership increasing by almost 50%.
Chartered Accountants Ireland represents more than 25,000 members globally. Fully qualified members of Chartered Accountants Ireland earn the designation ACA (Associate Chartered Accountant). After 10 years membership, members can apply for fellowship, and earn designation as FCA (Fellow Chartered Accountant).
The institute has "mutual recognition agreements" in place with other institutes in England and Wales, Scotland, Australia New Zealand, Canada, South Africa, Singapore, Hong Kong and the United States of America. Qualifying members of the Institute may also benefit from the European professional qualification directives.
Chartered Accountants Ireland is part of the Consultative Committee of Accountancy Bodies and members are authorised to conduct audit, insolvency and investment business work. It is one of Ireland's six Recognised Accounting Bodies, regulated by the Irish Auditing and Accounting Supervisory Authority (IAASA).
Chartered Accountants Ireland is a founding member of Chartered Accountants Worldwide, which was set up to support, develop and promote the role of chartered accountants.
Chartered Accountants Ireland was established under a royal charter in 1888. This original body was name the 'Institute of Chartered Accountants in Ireland'. The body has been a member of the International Federation of Accountants since 1977.
In 2007 the Chartered Accountants Regulatory Board was established to develop Standards of Professional Conduct and to supervise the compliance of members, member firms, affiliates and students.
They initiated an investigation into the "circumstances around the issue of inappropriate directors' loans at Anglo Irish Bank"and into the performance of Ernst and Young. In 2009, independent Senator Shane Ross said the Institute "ranks with the Central Bank of Ireland as the winner of the wooden spoon for watchdogs". The first Chairman of the Regulatory Board, had companies he is a director of, fined a total of €3.35 million by the Central Bank of Ireland, for risk control and reporting failures.
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