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The institute is a member of the Consultative Committee of Accountancy Bodies (CCAB), formed in 1974 by the major accountancy professional bodies in the UK and Ireland. The fragmented nature of the accountancy profession in the UK is in part due to the absence of any legal requirement for an accountant to be a member of one of the many Institutes, as the term accountant does not have legal ...
Individuals with such qualifications are recognised as professionally qualified bookkeepers. The Association of Accounting Technicians (AAT) is the UK's leading body offering a qualification at 'bookkeeper' level. The AAT has approximately 2,500 licensed bookkeepers (from a total membership of 150,000).
The ACCA full Professional qualification is regarded as the equivalent of a UK master's degree by the UK NARIC and Department for Education. Subjects include: Financial accounting, Management accounting, Financial reporting, Taxation, Company law, Audit and assurance and Financial management.
For example, a holder of the French expert-comptable (in French) qualification could practise as an accountant in England without taking a local test but could only describe themself as "expert-comptable (France)" not "Chartered Accountant". Within the EEA, only the UK and Ireland have bodies that issue the Chartered Accountant title.
The Consultative Committee of Accountancy Bodies (CCAB) is an umbrella group of chartered professional bodies of British qualified chartered accountants.The primary objective of the CCAB is to provide a forum for the member bodies to discuss issues of common concern, and where possible, to provide a common voice for the accountancy profession when dealing with the United Kingdom government.
There are four forms of regulated profession in the UK, with respect to the European directives on professional qualifications: professions regulated by law or public authority; professions regulated by professional bodies incorporated by royal charter; professions regulated under Regulation 35; and the seven sectoral professions with harmonised training requirements across the European Union. [5]
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The two best known chartered statuses are probably Chartered Engineer and Chartered Accountant, along with their derivatives. [24] Examples of their use outside of the UK include Chartered Engineer (CEng) in Ireland (granted in 1969 by the Oireachtas), [25] India [26] and Singapore; [27] Chartered Professional Engineer (CPEng) in Australia [28] and New Zealand (under the Chartered Professional ...