- This topic has 9 replies, 4 voices, and was last updated 1 month ago by syedalidanishbukhari.
- April 17, 2014 at 11:47 am #165521Ali
Can we call ourselves Chartered Accountants once we qualify ? or just Chartered Certified Accountants. I am confused !April 17, 2014 at 5:39 pm #165560sathjyot
Those accountants who are members of an accountancy body are known as professional accountants. Since the system of professional accountancy has originated in England (If my knowledge is correct)such institutes have to obtain the royal charter status in order to allow its members for public practice, who will be known as chartered accountants empowered to certify financial statements. The most other countries have followed this and have institute of chartered accountants and the mwmbers of these institues are called as chartered accountants.
According to me a member of a professional accountancy body is known as a chartered accountant or known as a professional accountant. And going by this definition introducing ourseleves to the society, where they knows a professional accountant in the name of chartered accountant only,as a CA who qualified from ACCA,UK is appropriate and should not amount to misrepresentation of facts.April 24, 2014 at 2:09 am #166056revoelad
No. Chartered Accountants must be members of one of the following:
the Institute of Chartered Accountants in England & Wales (ICAEW) the Institute of Chartered Accountants of Scotland (ICAS), Chartered Accountants Ireland (CAI) or a recognised equivalent body in another Commonwealth country (designatory letters being CA (name of country) e.g. CA(Canada)
We, on qualification, can refer to ourselves as Chartered Certified or Certified.April 24, 2014 at 9:50 am #166081sathjyot
I hope the following will help change your perception:-
An accounting designation given to accounting professionals in many countries around the world outside of the United States. A Chartered Accountant (CA) designation typically proves the holder has the qualifications to audit financial statements and business practices as well as offer advisory services to clientèle. The equivalent to a CA designation in the U.S. is the CPA
Chartered Accountants claim to be the first accounting group to form a professional body, in 1854 in Britain. Today there are many organizations that such accountants belong to across the world, including the Institute of Chartered Accountants in England & Wales in the UK and the Canadian Institute of Chartered Accountants in Canada. The CA designation in Canada is one of the few designations transferable to a CPA in the U.S. by writing a reciprocity exam.
As per Wikipedia:-
British qualified accountants
In the UK there are no licence requirements for individuals to describe themselves or to practise as accountants, but to use the description “Chartered Accountant” they must be members of one of the following organisations:
• the Institute of Chartered Accountants in England & Wales (ICAEW) (designatory letters ACA or FCA);
• the Association of Chartered Certified Accountants (ACCA) (designatory letters ACCA or FCCA);
• the Institute of Chartered Accountants of Scotland (ICAS) (designatory letters CA); or
• Chartered Accountants Ireland (CAI, which is an Irish rather than a UK body but covers Northern Ireland as well as the Republic of Ireland), designatory letters ACA or FCA).
(Although other UK accounting bodies were also formed by Royal Charter, they grant separate designations to their members.)
The three Institutes above admit members, who become Chartered Accountants, only after passing examinations and undergoing a period of relevant work experience. The ICAEW requires that students complete 15 examinations as well as 450 days of relevant work experience. Once admitted, members are expected to comply with ethical guidelines and gain appropriate continuing professional development. Fully qualified members of the ICAEW and CAI earn the designation ACA (Associate Chartered Accountant). After 10 years’ membership, members are invited to apply for fellowship of their Institute and earn the designation FCA (Fellow Chartered Accountant).
Chartered Accountants who engage in public practice work (i.e. providing services to the public rather than acting as an employee) must gain a “practising certificate” by meeting further requirements such as purchasing adequate insurance and undergoing regular inspections.
Chartered Accountants holding practising certificates may also become “Registered Auditors”, providing they can demonstrate the necessary professional ability in that area. A Registered Auditor is able to perform statutory financial audits in accordance with the Companies Act 2006.
Further restrictions apply to accountants who work as insolvency practitionersApril 28, 2014 at 9:46 pm #166689revoelad
Also from Wikipedia
The term Chartered Certified Accountant was introduced in 1996. Prior to that date, ACCA members were known as Certified Accountant. It is still permissible for an ACCA member to use this term. Members of ACCA with post-qualification experience of more than five years and have completed the required continued professional development are designated Fellows, and use the designatory letters FCCA in place of ACCA.
The term Chartered refers to the Royal Charter granted by Her Majesty Queen Elizabeth II of the United Kingdom.
Since Chartered Certified Accountant is a legally protected term, individuals who describe themselves as such must be members of ACCA. If they carry out public practice engagements, they must comply with additional regulations such as holding a practising certificate, being insured against any possible liability claims and submitting to inspections.April 29, 2014 at 9:35 am #166727sathjyot
Not clear whether or not you gave up your argument that we cannot call ourselves CA.
In addition to my reply above to the original point of Ali whether or not we can call ourselves CAs I state that:-
Most other countries have now chartered accountants who are members of the chartered accountants institute came into existence through country specific legislation. These institutes simply used the word chartered denoting to differentiate professional accountants from non professional accountants. for eg. an accountant by profession and not by the virtue of having a membership with any accountancy body.
Now according to me the question that worries Ali might be that if he is not a resident of UK and qualified from ACCA, then can he call himself a CA??
I believe yes…!!!
But it is important that he need to make it sure that he give a lot of clarity when he introduce himself as a CA depending upon the situation, person receiving the said response from him and the intention.
His educated friend who is resident of his home country introduces Ali to another friend or a group of friends that ” Meet my friend Ali, who is a CA by profession” or some one from the group or the other friend himself asked that What Ali does, to which Ali replies, I am a CA”
The conversation in this situation normally ends there as far as the education is concerned unless some one or the friend asks Ali that are you in practice or service?, to which Ali has to reply that he is a member of ACCA UK and therefore cannot practice in this country.
In a professional situation in case Ali has to introduce himself he can still say that he is a CA qualified from ACCA UK or from an institute outside his country for eg. CPA USA.
In a legal situation as well in case he may have to depose himself before a court he can introduce himself a s chartered accountant or professional accountant(which most people outside the fraternity will not understand) qualified from XYZ institute.
I remember in India in a court case, my friend mentioned in the petition as he is a CPA by qualification, the judge asked what that means, to which he replied that he is a chartered accountant qualified from USA where the professional accountants are known as Certified public Accountant same as members of ICAI (the chartered accountants here in India).
I think it is more or less an Automobile engineer or chartered Engineer is known as in the same name and introduce themselves as same to the people and society no matter which geographic location he belong to and where is his location at the time of his introduction. The further details of the qualification will be drilled down depending upon the situation.
I therefore conclude that there is no law across all the countries of the world according to me restrict members of a different accountancy body to call themselves as CAs.April 29, 2014 at 11:12 am #166736revoelad
If you are not clear on what I’ve posted then refer back to the question posed and reread my reply. But to reiterate, the precise term “chartered accountant” is legally protected, to use the term in an employment or business capacity without being a member of ICAEW is taken seriously by them as you can discover here :April 29, 2014 at 11:32 am #166744Ali
Thanks sathjyot and revoelad for your replies ! 🙂
@sathjyot… Haha yeah you are right ! I dont know how to introduce myself in front of others especially ppl who ve never heard of ACCA. I dont want to be a person who calls himself a CA when he is actually not one !
I am from India too and i live in the UAE btw.April 29, 2014 at 12:10 pm #166748sathjyot
I think revoelad is taking matter personally.
Sorry that any of my statements hurt you in any way. however the facts remains fact dear friend we just can’t help it. Your thread does not change anything. The last section of the thread says:-
“Members of certain overseas accountancy bodies
Members of certain overseas accountancy bodies may describe themselves as chartered accountants and use the letters ACA or FCA as long as they include the name of the country in which they gained their qualification.”
I hope this will be very clear to all of us. This is specifically for those who qualified from India and is in employment in UK. ICAI also give ACA FCA designations.
this what exactly I was referring to depending upon the situation. ICAEW or for that matter other accountancy bodies are concerned with he unauthorized use of those titles for undue benefits and not that they are concerned with an individual who is introducing himself as a CA , followed by qualified from the XYZ institute at XYZ country depending upon the situation.
There is no force in this world that created a rule to curb the use of term Chartered accountant, as long as the guy uses that word qualified from a recognized institute from any corner of the world. I repeat the further drilling down of details will follow depending upon the situation.
So Ali What do you understand from the above. When you are qualified after this would you introduce yourself as a CA, if necessary qualified from ACCA UK.???
Gone are the days nobody knew about ACCA in India, things have changed dramatically in last 10 years. There is good number of students in India for ACCA and employers are also aware of this qualification to a great extent.September 24, 2020 at 8:29 am #586513syedalidanishbukhari
Call yourself ACCA chartered accountant. Its much better and no one gets deceived. You are telling layman or accounts fraternity both that you are ACCA qualified and as layman only knows chartered accountant therefore they also know that what you really do. Simple i guess.
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