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Finance for Non-Financial Mangers: UK Accounting Bodies

by Philip Ramsden

The ’profession’ is represented by the Institute of Chartered Accountants in England and Wales (there are separate bodies for Scotland and Ireland) – mostly these are auditors, but experienced Chartered Accountants will seek to become partners and may specialise in specific financial matters eg taxation, mergers, or even move into industry. The Association of Chartered Certified Accountants’ members tend to work in business, although some can audit if they have done the right part of their professional examinations. The Chartered Institute of Management Accountants’ members can usually be found in commercial organisations, and do not audit accounts – they are usually the ones who prepare them. Accountants working in the public services sector (eg NHS, local government) often choose to study/join the Chartered Institute of Public Finance and Accountancy. The exams of each of these bodies are similar, so distinguishing qualified accountants is probably better judged by their knowledge and experience rather than which particular qualification they have. There is also the Association of Accounting Technicians, an underrated body, but having this qualification gives the holder some exemptions in the examinations of the others. Attempts to merge the major accounting bodies have progressed little in the last thirty years.

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