Although anyone can call themselves an accountant, only members of the Chartered Institutes can use the title ‘Chartered Accountant’. In England, this is the Institute of Chartered Accountants in England & Wales (ICAEW).
To become a member of the ICAEW (and be allowed to use the letters ACA after their name), an accountant must undertake a three year training contract with an ICAEW approved training firm; during this time they must pass a series of examinations in all aspects of accountancy and tax. After qualification, a Chartered Accountant is required to maintain their knowledge and skills through continuing professional development. They must also be able to demonstrate that they are adhering to the ICAEW’s high standards of professional and ethical conduct.
After ten years, members of the ICAEW are entitled to apply for fellowship of the institute and, if successful, use the letters FCA after their name.
As an ICAEW member firm, we are regulated and periodically reviewed by the ICAEW. The ICAEW regulations include the requirements that member firms have professional indemnity insurance in place in case things go wrong, and handover procedures to ensure a smooth transition should you decide to change accountants.
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