Certification Requirements For Essex Accountants
February 16, 2016
Accountants are practitioners of accountancy or accounting. They are skilled at measuring, disclosing, or providing a provision of assurance concerning financial information. They help investors, managers, tax authorities and other types of authorities in making decisions about how to best allocate resources. Many jurisdictions or governmental areas, professional accounting organizations establish standards of evaluation and practice for these professionals. Accountants can receive certification of demonstrated competency by taking certification exams. When they receive this certification, they may use titles such as Chartered Accountant, Certified Public Accountant, or Certified Accountant. Individuals with these certifications are afforded certain responsibilities by statute. Essex accountants who are certified by their professional agency are in high demand.
Individuals with these certifications are able to verify and certify a company’s financial statements and can be held liable for professional misconduct. Accountants may work with non-certified accountants to oversee a company’s financial services or they may work alone. Most accountants are employed in the public sector and in commerce.
Within the Commonwealth of Nations which consists of the United Kingdom, Australia, Canada, and New Zealand, along with several other states, accountants can earn certification as a Chartered Certified Accountant, a Chartered Management Accountant, a Chartered Accountant, and an International Accountant. The world’s first professional body of accountants was the Chartered Accountants of Scotland. In 1854 this association received its Royal Charter.
Within the United Kingdom and Ireland, a Chartered Accountant must be a member of one or more organizations. These include Chartered Accountants Ireland, the Institute of Chartered Accountants of Scotland, the Institute of Chartered Accountants in England and Wales, or another recognised equivalent body from another country in the commonwealth. A Chartered Accountant residing in the United Kingdom or Ireland must be a member of the Association of Chartered Certified Accountants.
A Chartered Management Accountant must belong to the Chartered Institute of Management Accountants and a Chartered Public Finance Accountant must belong to the Chartered Institute of Public Finance and Accountancy. An International Accountant must belong to the Association of International Accountants. An Incorporated Financial Accountant must belong to the Institute of Financial Accountants. A Certified Public Accountant must belong to the Association of Certified Public Accountants and must pass the Uniform Certified Public Accountant Examination. A Public Accountant must belong to the Institute of Public Accountants.
All but one of these associations accepts members only after they pass examinations and have a certain amount of work experience. The only organisation which does not require certification by exam is the Association of Certified Public Accountants. When Essex accountants are accepted into one of these professional organisations, they are required to obtain professional experience and maintain certain ethical guidelines.
If these professionals engage in the practice of selling services to the public rather than working for an employer, they must obtain a practising certificate which requires they meet certain other requirements such as undergoing inspections and purchasing insurance.
Certified accountants provide financial services to companies and private individuals. They must be a member in good standing of one of the professional organizations within the United Kingdom or Ireland.