THE WORSHIPFUL COMPANY OF CHARTERED ACCOUNTANTS IN ENGLAND & WALES

Chartered Accountants

Members of the Institute of Chartered Accountants in England & Wales (ICAEW) provide professional advice to organisations on a wide range of business and finance issues. Many CEO and CFO positions of FTSE100 companies and other major organisations are held by chartered accountants.

Chartered accountants assume the role of business advisers, making high level strategic decisions that aim to improve profitability for their clients or their employers’ businesses. They provide auditing, financial reporting, taxation, forensic accounting, corporate finance and insolvency services, using not only the technical skills implicit in these functions, but also the solid foundation in business, marketing, economics, finance, management and information systems which their education and training provides.

World Class and Fit for the Future

■ Membership of the ICAEW is gained by serving a period of 3 years (for graduates) or 4 years (for non graduates) in an authorised training office and passing professional examinations set by the ICAEW. An authorised training office may be either a practising office or the office of a company or a government department. Authorisation is subject to strict conditions. This process is under the overall purview of the Professional Oversight Board of the Financial Reporting Council.

■ The qualification is highly regarded, both nationally and internationally. At present, it is possible to study for the qualification, in addition to in the UK, in China, Russia, Bahrain, Cyprus, Malaysia, Oman, Pakistan, Saudi Arabia and United Arab Emirates. From 2008, the Czech Republic, Romania and Singapore will be on the list. 

Country Issues 

■ There is an accountancy task force, under the Indo-British Joint Economic and Trade Committee, which is seeking to remove barriers to the operation of UK firms in India and to achieve reciprocal membership between the ICAEW and the Institute of Chartered Accountants of India. This is due to report in 2008 and the assistance of the Lord Mayor during his visit to India in April 2008 would be very welcome.

■ The six key issues being debated include allowing access to young Indians to be trained to become professional accountants in the UK; allowing Indian and UK accountancy firms, and thus the businesses they serve, to enjoy the benefits of two way international transfer of knowledge, experience and people; enabling Indian graduates of British universities to work in the UK for sufficient time to qualify with UK accountancy institutes; and ensuring that the new UK Highly Skilled Migrant Worker Programme does not impede Indian accountants from working in the UK. 

Contact: Graham Ward on 020 7804 3101 or graham.n.ward@uk.pwc.com