Association of Chartered Certified Accountants: Role and Functions
The Association of Chartered Certified Accountants is a British accountancy body that offers the qualification of Chartered Certified Accountant globally. It remains one of the fastest growing and largest accountancy bodies across the world with 404,000 affiliates, 140, 000 members as well as students across 170 nations. Headquartered in London, the principal administrative office of the organization is based in Glasgow. Besides this, the entity operates through a network of 80 staffed offices as well as other centers across the globe.
The Association of Chartered Certified Accountants is the founding member of International Federation of Accountants (IFAC) and Consultative Committee of Accountancy Bodies (CCAB). The Association of Authorized Public Accountants (AAPA), a British professional body for public accountants operates as a subsidiary of this organization since the year 1996.
The term Chartered Certified Accountant is legally protected. Therefore, the individuals who claim to be Chartered Certified Accountants must have the membership of this organization. Moreover, they need to comply with certain additional rules and regulations if they carry out a public practice. These include insurance against any possible liability claims, holding a practicing certificate as well as submitting to inspections.
The Association of Chartered Certified Accountants offers two major qualifications, Chartered Certified Accountant and Certified Accounting Technician. These qualifications are awarded after completion of stipulated professional examinations and relevant experience. The other qualifications offered by this organization include MBA, BSc in Applied Accounting, MSc in Financial Management, Diploma in financial management and Diploma in International financial reporting.
The qualification offered by the Association of Chartered Certified Accountants is considered as to be the eligibility criteria by the Government of Canada. The people having this qualification are considered capable to audit federal government institutions across Canada. The organization entered into a Mutual Recognition Agreement with the Government of Canada. Moreover, the Canadian Institute of Chartered Accountants indicates that the evaluation recognized by this organization is equivalent to Bachelor's Degree (four years) in Accounting.
The Canadian branch of this organization is pursuing recognition for statutory audit purposes in the region of Ontario. The organization has about 1,100 members as well as above 400 students living in Canada.