Chartered accountants were founders of the accountancy profession and have led its global development. By law anyone can call themselves an accountant.
The title ‘chartered accountant’ and the letters ACA, however, indicates that the person has undertaken in-depth training, passed a series of rigorous examiniations in financial managements, audting, business strategy and taxation, and committed to continuing professional development to keep their skills up to date.
ICAEW ‘FCA’ (Fellowship) Award
“Being awarded with the FCA (fellowship) by the ICAEW provides further reassurance to our clients that we work to the highest ethical and technical standards in the industry.”
The title ‘chartered accountant’ and the designation FCA indicates a whole lot more than meets the eye.
Being awarded with the FCA (Fellowship) is the highest status of the ICAEW Membership and the pinnacle of the accounting industry. The FCA (Fellowship) is only awarded to qualified accountants who have held the ACA accreditation for 10 years or more and demonstrates total commitment to the profession. The designation is recognised globally and shows a comprehensive level of experience and training acquired over the course of 10 years of practice or more.
In short, choosing an ICAEW Chartered Accountant that has been awarded the FCA designation is a guarantee that the quality of service and advice your business receives will be of the highest possible standards.
What makes a chartered accountant special.
“Accounting is simple when you trust your accountant.”
Chartered Accountants have to continue comprehensive professional development and learning to maintain their chartered status. They consistently have their knowledge and experience rigorously tested by a regulatory body.
Although unqualified accountants are subject to the same law as chartered accountants, ICAEW Chartered Accountants are bound by the organisational Code of Ethics and are subject to disciplinary procedures from the ICAEW. In other words, choosing someone as your accountant or bookkeeper without the proper experience or qualifications can be detrimental to your business, especially if you are given poor advice.
Chartered Accountants are not only capable of providing everyday accountancy services ranging from bookkeeping to help with self-assessment tax returns – they are also perfectly placed to offer in-depth taxation, business & strategic advice and guidance across a broad range of sectors and entity types, or example Charities, Ltd companies, partnerships and sole-traders.
Chartered Accountants are required by businesses for a number of reasons that include financial reporting, corporate finance, auditing, forensic accounting, taxation, business recovery and insolvency. You will often find chartered accountants occupying the key finance director roles in organisations, using their financial knowledge and expertise to control the management of the business and to help it develop.
To discover more, please contact us.