What is difference in the United Kingdom between a chartered and certified accountant?
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Answer 1 :
Chartered Accountant in Britain and Commonwealth Countries is equivalent to CPA in the USA. In England, Chartered Accountants have the designation ACA or FCA, in Scotland - CA. When in Public Practice they also do a lot of Estate work that in the USA is done by Attorneys. In the UK, Cerified Accountants are usually employees in Corporations.
Answer 2 :
There are six accounting bodies in the UK that have royal charters. -The Institute of Chartered Accountants in England and Wales (ICAEW), designation: ACA and FCA. - The Institute of Chartered Accountants in Ireland (ICAI), designation: ACA and FCA. - The Institute of Chartered Accountants in Scotland (ICAS), designation: CA -The Association of Chartered Certified Accountants (ACCA), designation: ACCA and FCCA. And two others. The designations carried by UK accountants will depend on the body/ bodies through which they qualified. Members of the ICAEW, ICAI and ICAS are known as Chartered Accountants while as members of the ACCA are known as Chartered Certified Accountants or Certified Accountants Chartered Accountants and Chartered Certified Accountants have identical legal recognition and the work they do isn’t fundamentally different although, (especially with the ACCA), this can depend on the factors such as the field of specialism chosen by student accountants (management accounting? audit and taxation?) and the auditing, tax, legal & financial reporting systems they studied to qualify. For historical reasons, proportionally more chartered accountants work in public practice (as opposed to industry) than is the case with Chartered Certified Accountants. The other two bodies are CIMA (Chartered Institute of Management Accountants) and CIPFA (Chartered Institute of Public Finance and Accountancy) but these deal with different fields of accountancy altogether, namely management accounting (CIMA) and public sector finance and accounting (CIPFA).
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