The Institute of Chartered Accountants in England and Wales (ICAEW) has over 140,000 members. To become a member and therefore a qualified chartered accountant, applicants must usually complete around 450 days of training and work experience. They will also have to pass a number of exams. Chartered accountants London and nationwide must complete a well respected professional qualification known as the ACA to qualify. The ACA requires candidates to complete a series of examinations over a three year period whilst training on the job. A candidate may apply for the qualification themselves, or some companies may offer it as part of their job package.
The ACA qualification for chartered accountants is extremely useful as it is highly respected by companies worldwide. Without the ACA, an accountant is unable to use the title ICAEW chartered accountant. Being a chartered accountant rather than a regular accountant is a great way to stand out to employers with specific skills that have been certified. ICAEW chartered accountants often get high salaries, bonuses and lots of benefits from employers.
There are four elements to the ACA qualification that is needed to become an official member of the ICAEW. This includes 450 days of practical training and work experience, 15 modules of exams, development on a professional level, and ethics with professional scepticism. These modules offer all the insights, skills and techniques a chartered accountant would need for a career in the professional world. With this training they will be confident in the work they are providing.