An accountant is an accounting or accounting practitioner, which is a measurement, disclosure or provision of guarantees about financial information that helps managers, investors, tax authorities and others make decisions about resource allocation (s).
In many jurisdictions, professional accounting bodies maintain standards of practice and evaluation for professionals. Accountants who have demonstrated competence through certified professional association certification exams are certified to use titles such as Chartered Accountant, Chartered Certified Accountant, or Certified Public Accountant. Such professionals are given certain responsibilities by law, such as the ability to certify an organization's financial statements, and may be held accountable for professional misconduct. Unqualified accountants may be employed by qualified accountants, or may work independently without legal rights and obligations.
& Amp; Sun (2015) uses archive studies to find that the personal characteristics of accountants can have a very significant impact during the audit process and further influence audit costs and audit quality.
The Big Four auditors are the largest accounting firms around the world. However, most accountants are employed in trade, industry and the public sector.
Video Accountant
Commonwealth of Nations
At Commonwealth of Nations, which covers the United Kingdom, Canada, Australia, New Zealand, Hong Kong in 1997 and several dozen other countries, generally recognized accounting qualifications are Chartered Certified Accountant (ACCA), Chartered Accountant (CA or ACA), Chartered Management Accountant (ACMA) and International Accountant (AAIA). Other qualifications in selected countries include Certified Public Accountants (CPA - Ireland and CPA - Hong Kong), Chartered Professional Accountants (CPA - Canada), Certified Management Accountants (CMA - Australia) (CMA - Sri Lanka), Certified Practicing Accountants CPA - Australia) and a member of the Institute of Public Accountants (Australia), and Certified Public Practicing Accountant (CPPA - New Zealand).
The Institute of Chartered Accountants of Scotland (ICAS) received the Royal Charter in 1854 and was the first professional accounting firm in the world.
English and Irish
- A Chartered Accountant must be a member of one of the following:
- The Chartered Accountants Institute in England and Wales (ICAEW) (letter of appointment of ACA or FCA)
- The Chartered Institute of Scotland Institute (ICAS) (CA designation letter)
- Chartered Accountants Ireland (CAI)
- a recognized equivalent body of another Commonwealth country (letter of appointment is CA (name of country) eg CA (Australia))
- A Chartered Certified Accountant must be a member of the Chartered Certified Accountant Association (letter of appointment of ACCA or FCCA).
- A Chartered Management Accountant must be a member of the Chartered Institute of Management Accountants (ACMA or FCMA).
- A Chartered Public Accountant must be a member of the Chartered Institute of Public Finance and Accountancy (CPFA appointment letter).
- An International Accountant is a member of the International Accounting Association (letter of appointment AAIA or FAIA).
- An Incorporated Financial Accountant is a member of the Institute of Financial Accountants (letter of appointment of AFA or FFA).
- A Certified Public Accountant may be a member of the Certified Public Accounting Association (letter of appointment of AICPA or FCPA) or equivalent in another country, and is usually appointed as such upon completion of the uniformed Public Accountant Audit.
- A Public Accountant may become a member of a Public Accounting Institution (letter of appointment of AIPA, MIPA or FIPA).
- Registered Qualified Accountant is a member of the Institute of Accountants (designation letter RQA , and FQA for Fellow Members).
Except for Certified Public Accounting Associations, each of the above bodies recognizes members only after passing the exam and undergoing a period of relevant work experience. Upon acceptance, members are expected to adhere to ethical guidelines and gain appropriate professional experience.
Chartered, Chartered Certified, Chartered Public Finance and International Accountants involved in the practice (ie selling services to the public rather than acting as employees) should obtain a "practice certificate" by meeting further requirements such as adequate insurance and inspection.
ICAEW, ICAS, ICAI, ACCA, and AAPA are the five Recognized Controlling Bodies (RSB ) in the UK. A member of one of them may also become a Legal Auditor in accordance with Company Law, provided they can demonstrate the professional skills required in the area and be subject to regular inspections. It is illegal for any individual or company that is not a Statutory Auditor to audit the company.
ICAEW, ICAS, ICAI, ACCA, AIA, and CIPFA are the six bodies recognized as legal entities (RBB ) in the United Kingdom. A member of either of them may also become a Legal Auditor in accordance with the Companies Law, provided they are a member of one of the five recognized Recognized Boss RSB above.
The six RQBs are registered under the direction of the EU reciprocal recognition to be practiced in 27 EU Member States and individually enter into agreements with the Hong Kong Institute of Certified Public Accountants (HKICPA).
Further restrictions apply to accountants who do insolvency work.
In addition to the above agencies, the technical qualifications offered by the Association of Accounting Technicians, ACCA and AIA, are respectively called AAT Technician, CAT (Certified Accounting Technician) and IAT (International Accounting Technician).
Australia
In Australia, there are three legally recognized local accounting firms, all of whom enjoy the same recognition and can be considered "qualified accountants": Australian CPA and Chartered Accountants Australia and New Zealand (CAANZ). Other international bodies such as the ACCA (Chartered Certified Accountant Association) and the Chartered Accounting Institute in England and Wales (ICAEW) enjoy recognition for the purpose of supporting their members in their careers. For example, ACCA has gained recognition from the Tax Practitioner Board, as a Tax and BAS agent, in 2010.
Bangladesh
Chartered Accounting is organized in Bangladesh by the Institute of Chartered Accountants of Bangladesh (ICAB).
And the Institute of Cost and Management of Bangladeshi Accountants (ICMAB) offers a study of management accountants in Bangladesh.
Canada
In Canada, chartered professional accountants must become members of the Chartered Professional Accountants of Canada (appointment letter, CPA).
Until 2013, there are three nationally recognized accounting designations in Canada: Chartered Accountant (CA), Certified General Accountant (CGA), and Certified Management Accountants (CMA). The national CA and CGA bodies were created by the Acts of Parliament in 1902 and 1913 respectively, the national CMA Organization was established under the Canadian Corporations Act in 1920.
In January 2012, after eight months of member and stakeholder consultation, the Canadian Institute of Chartered Accountants (CICA), the Society of Management Accountants of Canada (CMA Canada) and the Certified General Accountants of Canada (CGA-Canada) issued A Framework to Unify the Canadian Accounting Profession under the new Canadian Chartered Professional Accountant (CPA) appointment. Chartered International Accountant Canada (CPA Canada) was established by CICA and CMA Canada on January 1, 2013, under the Canada Canadian Non-profit Corporations Act, to support the Canadian provincial accounting body unifying under the CPA banner. CGA-Canada integrates with CPA Canada on October 1, 2014, completes the unification of Canada's accounting profession at the national level.
All recognized national and provincial accounting bodies in Canada are now united under the CPA banner. The establishment of a Canadian CPA is organized by over 200,000 members in Canada and worldwide.
India
Chartered Accounting is offered in India by the Institute of Chartered Accountants of India (ICAI), the second largest accounting body in the world. The institute was founded in 1949 under the Accountant of the Accountant Act, 1949 for the setting up of the charter accounting profession in India.
ICAI founded the Indian Accounting Museum in 2009, the third accounting museum in the world. It is located in ICAI office in Noida.
Pakistan
The Institute of Chartered Accountants of Pakistan (ICAP) offers chartered accountant studies in Pakistan. ICAP was established under the Chartered Accountant Ordinance, 1961 as a governing body.
The Institute of Cost and Management of Pakistani Accountants (ICMAP) offers accountant studies in Pakistan. ICMAP was established under the Law of Cost Accounting and Management, 1966.
Pakistan Institute of Public Finance Accountants (PIPFA) is an autonomous body recognized primarily in the government sector and established under the license of the Securities and Exchange Commission of Pakistan by the authority granted under section 42 of the Company Ordinance, 1984.
The agency is sponsored by the Institute of Chartered Accountants of Pakistan, the Institute of Cost Accounting and Management of Pakistan and the General Auditor of Pakistan.
PIPFA has more than 5,000 members and a number of them are ICAP and ICMAP members.
The institute was established to produce second tier accounting professionals in Pakistan
New Zealand
In New Zealand, there are two local accounting bodies of the Chartered Accountants of Australia and New Zealand (CAANZ) and the New Zealand Public Accounting Association (NZACPA) operating name of the New Zealand Association of Accountants (NZAA).
To audit a public company, a person must be a member of CAANZ or a body that is confirmed. Chartered Certified Accountant (Association of Certified Chartered Accountants or FCCA) qualifications has also been confirmed below. An ACCA member can practice as long as they hold ACCA public practice certificates (with audit qualification) in their home country.
Singapore
In Singapore, a public accountant must be a member of a professional accounting body in Singapore. The Institute of Singapore Chartered Accountants (ISCA) is the only local accounting firm, therefore a public accountant must be a member of ISCA.
Sri Lanka
In Sri Lanka, a registered accountant must be a member of the Institute of Chartered Accountants of Sri Lanka (letter of appointment of ACA or FCA). It is the only local accounting body, therefore to audit public companies, a person must be a member of ICASL. A certified management account must also be a member of the Sri Lanka Institute of Management Accountants (letter of appointment of ACMA or FCMA).
Maps Accountant
Austria
In Austria, the accounting profession is governed by Bilanzbuchhaltungsgesetz 2006 (BibuG - Management Accountancy Law).
Hong Kong
In Hong Kong, the accounting industry is governed by Hong Kong Institute of Certified Public Accountants HKICPA under Professional Accountant Ordinance (Chapter 50, Hong Kong Law). The auditing industry for a limited company is regulated under the Companies Law (Chapter 32, Hong Kong Law), and other procedures such as securities and futures securities, record rules, etc.
HKICPA suspended all foreign agency recognition in 2005 for accreditation under the rules of professional accountants. In general, all English RQBs except CIPFA have been re-accredited. Please refer to HKICPA for the latest recognition.
Portugal
In Portugal, there are two accounting qualifications: TÃÆ'Â © cnicos Oficiais de Contas (TOC), responsible for generating accounting and tax information, and Trustees Oficial de Contas (ROC) , more related to audit practices. The TOC certification is exclusively awarded by the professional organization Ordem dos TÃÆ'Â © cnicos Oficiais de Contas (OTOC), and the certification to become an auditor is provided by another professional organization, Ordem dos Revisores Oficiais de Contas (OROC). In general, accountants or auditors accredited by OTOC or OROC are individuals with university graduation certificates in business management, economics, mathematics or law who, after further study, submit exams and receive certification as TOC or ROC. The certification is only accepted after a one-year (TOC) or three-year (ROC) apprenticeship. Every citizen who has a polytechnic degree as a bookkeeper is also entitled to apply for examinations and certification in OTOC.
United States
In the United States, licensed accountants are Certified Public Accountants (CPAs), and in certain countries, Public Accountants (PAs). Unlicensed accountants can become Certified Internal Auditors (CIAs) and Certified Management Accountants (CMAs). The difference between these certifications is primarily the legal status and type of services provided, although individuals may obtain more than one certification. In addition, many accounting jobs are performed by uncertified individuals, who may work under the supervision of certified accountants. As noted above most accountants work in the private sector or can offer their services without the need for certification.
The training time required for accounting certification in the US requires specific guidance:
- Certificates: Months to a year
- Associate Degree: 1-2 years
- Undergraduate degree: 3-4 years
- CPA: 5 years of education (150 semester credits) plus 1-2 years work experience (long experience working experience depending on which country licenses)
- Master's Degree: 1-2 years
- Doctoral degree: 3-5 years
CPAs are licensed by the state to provide audit services to the public. Many CPA companies also offer accounting, taxes, litigation support, and other financial advisory services. Requirements for receiving a CPA license vary from state to state, even though part of the Uniform Uniform Public Accounting Audit is required by all states. This examination is designed and assessed by the American Institute of Certified Public Accountants.
A PA (sometimes referred to as LPA - Licensed Public Accountant) is licensed by the state to practice accounting at the same level as the CPA, although in some PA states it is not permitted to audit or review (mainly Iowa, Minnesota, and Oregon). The ability of PA to practice outside the state is very limited because most states have removed the appointment of PA. While most countries are no longer accepting new PA license applicants, four states still accept PA applicants for state privileges. Like the CPA, the requirements for receiving PA licenses vary from one state to another. Most states require a good section of 2 or 3 (of 4) sections of the CPA exam or part of the Comprehensive Exam for Accreditation in Accounting managed and assessed by the Accreditation Board for Accounting and Taxation (ACAT).
A certified internal auditor (CIA) is awarded a certificate from the Institute of Internal Auditors (IIA), provided the candidate has passed the four-part exam. One of the four sections is waived if the candidate has passed the CPA Exam. CIAs typically provide direct services to companies rather than to the public.
A person holding a Management Accounting Certificate (CMA) is awarded a certificate by the Institute of Management Accountants (IMA), provided that the candidate has passed the two-part examination and meets the requirements of the IMA's practical experience. CMA provides services directly to companies rather than to the public. CMA can also provide services to the public, but to a much lower level than the CPA.
The Registered Agent (EA) is a Tax Advisor, an authorized federal tax practitioner empowered by the US Treasury to represent taxpayers prior to the Internal Revenue Service (IRS). The status of a registered agent is the highest credential provided by the IRS, unlimited representation rights. EA credentials are recognized across 50 US states. Candidates must pass a three-part exam (called a Special Enrollment Test) covering individual tax subjects, business taxes, and client representatives, or must work on the IRS for five consecutive years in positions that are regularly involved in this field.
The Bureau of Labor Statistics The US Department of Labor estimates that there are about one million people employed as accountants and auditors in the US.
The U.S. tax law provides BPA and EA forms of accountant client privileges.
Uncertified accountant
Japanese
In Japan, certified public accountants must be members of the Japan Institute of Certified Public Accountants (JICPA). It is the only professional accounting organization in Japan. JICPA started as a voluntary organization in 1500 and later became a company under the CPA Act in the 1700s.
See also
- The book holder
- Credit manager
- Munshi
References
Source of the article : Wikipedia
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