What is Chartered Accountant Chartered Accountant were the first accountants to form a professional accounting body, initially established in Scotland in 1854. The Edinburgh Society of Accountants (1854), The Glasgow Institute of Accountants and Actuaries (1854), and the Aberdeen Society of Accountants (1867) were each granted a royal charter almost from their inception. The title is an internationally recognized professional designation and the certified public accountant designation is generally equivalent to it. Women were able to become chartered accountants only following the Sex Disqualification (Removal) Act 1919 after which, in 1920, Mary Harris Smith was recognized by the Institute of Chartered Accountants in England and Wales and became the first woman chartered accountant in the world. Field of chartered accountant Chartered accountants work in all fields of business and finance, including auditing, taxation, financial, and general management. Some are engaged in public practice work, others work in the private sector and some are employed by government bodies. Chartered accountants’ institutes require members to undertake a minimum level of continuing professional development to stay professionally competitive. They facilitate special interest groups (for instance, entertainment and media, or insolvency and restructuring) which lead in their fields. They provide support to members by offering advisory services, technical helplines, and technical libraries. They also offer opportunities for professional networking, career, and business development. Chartered Accountants Worldwide comprises 15 institutes with over 1.8 million Chartered Accountants and students in 190 countries. Chartered accountants of Australia belong to the Chartered Accountants Australia & New Zealand (CA ANZ, formerly the Institute of Chartered Accountants in Australia) and use the designatory letters CA. Some senior members (at least 15 years’ membership) of the institute may be elected fellows and use the letters FCA. Of equal legal status and recognition in Australia as qualified professional accountants are the Institute of Public Accountants (IPA) and CPA Australia. On 28 June 2016, the Association of Chartered Certified Accountants (ACCA) and CA ANZ announced a strategic alliance to provide an opportunity for dual membership of both bodies, which will add value for the members locally and globally. ACCA members resident in Australia and New Zealand will be invited to apply for CA membership and CA ANZ members will be invited to apply for ACCA membership, subject to meeting the eligibility criteria of the other body. Institute of chartered accountant The Institute of Chartered Accountants of Bangladesh (ICAB) is the national professional accounting body of Bangladesh. Established in 1973, it is the sole organization with the right to award the Chartered Accountant designation in Bangladesh. Senior members (at least five years’ membership) of the institute are called “fellow members” and use the letters FCA. Bangladesh has more than 1,900 registered Chartered Accountants and more than 32,000 articled students. The Institute of Chartered Accountants of Bermuda works with the Canadian Institute of Chartered Accountants and the American Institute of Certified Public Accountants and is the sole organization in Bermuda with the right to award the Chartered Accountant designation. In Canada, chartered accountants belong to the Canadian Institute of Chartered Accountants (CICA) by way of membership in at least one provincial or territorial institute (or “order” in Quebec). In order to become a member, a candidate requires an undergraduate degree plus experience and, depending on the province, additional education. Candidates in all provinces are required to pass the three-day Uniform Evaluation (UFE) now Common Final Examination (CFE). Since 2012, the CICA has been in a process of unification with the other two accounting bodies in Canada. Canadian CA’s, along with Certified General Accountants (CGAs) and Certified Management Accountants (CMAs), have now adopted the designation Chartered Professional Accountant (CPA), making the term “chartered accountant” obsolete. In the Czech Republic, Chartered Accountants are generally members of the Institute of Chartered Accountants of the Czech Republic and use the designatory letters CAE (Chartered Accountant expert).[citation needed] Chartered Accountants may also be members of the Chamber of Auditors of the Czech Republic (KACR), with whom the ICAEW launched its ACA qualification in 2015. Under the Mutual Recognition Directive, European Economic Area (EEA) and Swiss nationals holding a professional qualification can become members of the equivalent bodies in another member state. They must, however, pass an aptitude test in understanding local conditions (which for accountants will include local tax and company law variations). The local title is, however, not available for use if the professional does not choose to join the local professional body. For example, a holder of the French expert-comptable [fr] (in French) qualification could practise as an accountant in England without taking a local test but could only describe him or herself as “expert-comptable (France)” not “Chartered Accountant”. Within the EEA, only the UK and Ireland have bodies that issue the Chartered Accountant title. Chartered accountant in different countries In India, Chartered Accountants are regulated by the Institute of Chartered Accountants of India (ICAI) which was established by the Chartered Accountants Act, 1949. Associate members of the ICAI are entitled to add the prefix CA to their names. Members who are in full-time practice, and have completed five years of practice, can use Fellow Chartered Accountant(FCA).[13] As of 1 April 2021, the Institute had 327,081 members.[14] Entry to the profession can be made by taking the CA Foundation Course after completion of schooling (12th grade). Alternatively, graduates may train as an articled assistant for three years in a chartered firm before final exam or after completion of Intermediate of Cost Accountant or Company Secretary. A comprehensive 100 hours of information technology training and an orientation programme for soft skills development have to be completed before being articled. [15] However the CA certification is limited to the geographical boundary of India and is not valid in countries that follow different standards of accounting practice.[16][17] After clearing of CA final examination, one may apply for membership to ICAI. In Ireland, Chartered Accountants are generally members of Chartered Accountants Ireland and use the designatory letters ACA or FCA. Chartered accountants may also be members of the Institute of Chartered