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Accountancy Career – Qualifications and Regulation

If you are planning to get into Accountancy Career then it is very important to understand all the rules and regulations to practice as an accountant in different countries. In some countries accountant has to be certified and financial expert. Just like other professionals every country has their own training and certification which maintain the quality of accountant in their jurisdictions.

Qualifications and Regulation

Before getting in accountancy career you need to understand the qualification and regulation depending upon the country you need to practice.

Accountants may be licensed by a variety of organizations and are recognized by titles such as Charter Certified Accountant, Charted Accountant (term used in British Common wealth countries and Ireland for a person who work in all fields of business and finance), Certified Public Accountant (term used for qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and met other state education and experience), Certified Management Accountant (This is offered in Australia, Canada and United States), Certified General Accountant (designation representing members of the Certified General Accountants Association of Canada), Certified Practicing Accountant (one of three professional accounting bodies in Australia). Many countries recognize two or more accounting bodies.

Australia

If you want to start your accountancy career in Australia then there are four main local professional accountancy bodies
Certified Practicing Accountants
Professional National Accountants
Member of National Institute of Accountants
Chartered Accountants

Austria

If you want to start your accountancy career in Austria then the accountancy profession is regulated by the Bilanzbuchhaltungsgesetz 2006

Canada

If you want to start your accountancy career in Canada then there are three recognized bodies
Canadian Institute of Chartered Accountants and the provincial and territorial Institutes
Certified General Accountants Association of Canada
Society of Management Accountants of Canada (Certified Management Accountants)

Hong Kong

If you want to start your accountancy career in Hong Kong then the accountancy industry is regulated by the Hong Kong Institute of Certified Public Accountants under the Professional Accountants Ordinance.

New Zealand

If you want to start your accountancy career in New Zealand then there is only one local accountancy body
New Zealand Institute of Chartered Accountants

United Kingdom

If you want to start your accountancy career in the United Kingdom then there are no license requirements for an individual to practice as an accountant but certain titles requires membership from appropriate professional bodies.
Chartered Certified Accountant must be member of the Association of Charted Certified Accountants.
Chartered Accountants must be member of one of the following Institute of Chartered Accountants in England and Wales or Institute of Chartered Accountants of Scotland or Institute of Chartered Accountants in Ireland or recognized equivalent body from another Commonwealth country like Canada.
Chartered Management Accountant must be a member of the Chartered Institute of Management Accountants.
Chartered Public Finance Accountant must be a member of the Chartered Institute of Public Finance and Accountancy.
International Accountant must be a member of the Association of International Accountants.

United States of America

If you want to start your accountancy career in the United States then legally practicing accountants are Certified Public Accountants, and other non-statutory accountants are Certified Internal Auditors, Certified Management Accountants and Accredited Business Accountants.

Accounting process

Accounting is the process of identifying, measuring and communicating economic information so a user of the information may make informed economic judgments and decisions based on it.

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