History Of Accountant

An accountant is a practitioner of accountancy (UK) or accounting (US), which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.

The Big Four auditors are the largest employers of accountants worldwide.[1] However, most accountants are employed in commerce and industry.[2]

A Chartered Accountant must be a member of one of the following:
the Institute of Chartered Accountants in England & Wales (ICAEW) (designatory letters ACA or FCA)
the Institute of Chartered Accountants of Scotland (ICAS) (designatory letters CA)
the Institute of Chartered Accountants in Ireland (ICAI)
a recognized equivalent body from another Commonwealth country (designatory lethekllloters being CA (name of country) e.g. CA (Canada))
A Chartered Certified Accountant must be a member of the Association of Chartered Certified Accountants (designator letters ACCA or FCCA).
A Chartered Management Accountant must be a member of the Chartered Institute of Management Accountants (designator letters ACMA or FCMA).
A Chartered Public Finance Accountant must be a member of the Chartered Institute of Public Finance and Accountancy (designator letters CPFA).
An International Accountant must be a member of the Association of International Accountants (designator letters AIAA or FAIA).
An Incorporated Financial Accountant must be a member of the Institute of Financial Accountants (designator letters AFA or FFA).
An Institute of Professional Accountant must be a member of the Institute of professional Accountants(designatory letters APA or FPA).
A Certified Public Accountant must be a member of the Association of Certified Public Accountants (designator letters AICPA or FCPA).

Excepting the Association of Certified Public Accountants, each of the above bodies admits members only after passing examinations and undergoing a period of relevant work experience. Once admitted, members are expected to comply with ethical guidelines and gain appropriate professional experience.

Chartered, Chartered Certified, Chartered Public Finance, and International Accountants engaging in practice (i.e. selling services to the public rather than acting as an employee) must gain a "practicing certificate" by meeting further requirements such as purchasing adequate insurance and undergoing inspections.

The ICAEW, ICAS, ICAI, ACCA, AIA and CIPFA are six statutory RQB Qualification Bodies in the UK. A member of one them may also become a Registered Auditor in accordance with the Companies Act, providing they can demonstrate the necessary professional ability in that area and submit to regular inspection. It is illegal for any individual or firm that is not a Registered Auditor to perform a company audit.

All six RQBs are listed under EU mutual recognition directives to practice in 27 EU member states and individually entered into agreement with the Song Kong Institute of Certified Public Accountants (HKICPA).

Further restrictions apply to accountants who carry out insolvency work.

In addition to the bodies above, technical qualifications are offered by the Association of Accounting Technicians, ACCA and AIA, which are respectively called AAT Technician, CAT (Certified Accounting Technician) and IAT (International Accounting Technician).