What is a Chartered Accountant?
Chartered accountants were founders of the accountancy profession and have led its global development. Today they hold influential positions around the world as business leaders, decision-makers and trusted advisers. From the largest listed companies to the most interesting and influential organisations, you’ll find a chartered accountant shaping their success.
What do chartered accountants do?
Chartered accountants in London work in a wide range of business sectors and in a broad spectrum of roles, from financial controllers and directors, to chief executives.
Working in Business and Industry
Chartered Accountant can be found successfully positioned in a dynamic global environment, pursuing a diverse range of roles including corporate leadership, management accounting, business analysis and sales management.
Working in Financial Services
Chartered Accountants also pursue rewarding careers in financial services; advising on risk management, financial investment and the optimum use of assets.
Working in Practice
Chartered Accountants who work in practice provide professional financial services to businesses. Auditing, taxation, accounting, financial analysis, risk management and advising on financial structures, are just some of the wide-ranging services provided by Chartered Accountancy Firms.
Working in the Public Sector
Chartered Accountants in the public sector quickly develop strong commercial and decision-making skills as they help to safeguard the integrity of public spending. Ensuring tax payers receive value for money through efficient and effective resource allocation and monitoring is key. Those who want to make a positive contribution and impact on society often chose to pursue careers in the public sector.
Roles of a Chartered Accountant:
Working in audit involves checking accounting ledgers and financial statements within corporations and is the basis of much accountancy practice. Auditing work is becoming increasingly computerised and can rely on sophisticated random sampling methods. Auditing may involve a lot of travel and allows Chartered Accountants work in a wide array of sectors.
The work of a financial accountant can be varied – one day they could be participating in important financial decisions involving mergers and acquisitions, the next they may be visiting a customer or supplier to set up a new account and discuss business. This work requires a good understanding of both accounting and finance.
Historically, many management accountants have been derided as “bean counters”. This mentality has undergone major change as management accountants now often work side by side with marketing and finance personnel to develop new business. Management accountants work in companies and participate in decisions about capital budgeting and line of business analysis.
Budget analysts are responsible for developing and managing an organisation’s financial plans. There are plenty of jobs in this area in government and private industry. Besides quantitative skills, many budget analyst positions require superior people skills because of negotiations involved in the work. The Chartered Accountancy qualification gives you the tools you need to excel in this area.
Tax matters arise in every aspect of running a business, from day-to-day VAT to share schemes. Tax accountants prepare corporate and personal income tax statements and formulate tax strategies involving issues such as financial choice, how to best treat a merger or acquisition, deferral of taxes, when to expense items and the like.
Types of Chartered Qualifications
- The Association of Chartered Certified Accountants (ACCA)
- The Chartered Institute of Management Accountants (CIMA)
- The Institute of Public and Finance Accountancy (CIPFA)
- Institute of Chartered Accountants in England and Wales (ICAEW)
- Institute of Chartered Accountants of Scotland (ICAS)