The Institute of Chartered Accountants in England and Wales is a professional membership organisation which promotes the profession of chartered accountants worldwide. In 2020, the Institute is expected to have over 189,000 members and students. To become a member of the Institute, you must have at least two years of college. In England, there are around 4000 chartered accountants in practice. You can also become one by taking up a course.
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Chartered Accountants in England and Wales are part of the Institute of Chartered Accountants (ICAE), which is a worldwide network of accountancy bodies with over 1.8 million members in 190 countries. Until the 1990s, accountants were mostly limited to the role of bookkeepers. In England, accountants maintained the records of other people’s sales and purchases. However, the growth of limited liability companies and the introduction of companies legislation resulted in an increased demand for highly qualified accountants.
There are also numerous graduate roles in accountancy. Many of these roles are advertised by careers services and national newspapers. You can also get graduate jobs by searching for graduate roles advertised by professional accounting bodies. Graduate roles usually require at least a bachelor’s degree and an honours degree. However, you can be exempted from certain steps of the qualification. For graduate roles, you can look for opportunities at TARGETJobs, Inside Careers, Milkround and Accountancy Age.
The ICAEW is responsible for improving the quality of the profession. This body monitors the quality of the profession and regulates firms and students. Improvement regulators are responsible for educating the public and enforcing change when needed. Changes may include penalties or exclusion from regulated areas. And what do they do to keep their members safe? There is a lot to learn about this profession from other countries.