Before becoming a 'chartered accountant' and using the designatory letters ACA (Associate Chartered Accountant), members must undertake a three-year training contract with a firm authorised by the Institute and pass rigorous exams covering accounting, financial management, financial reporting, auditing, business strategy, tax and IT.
Members of the Institute are entitled to use the designatory letters FCA (Fellow Chartered Accountant) depending on their experience and length of membership. When one first becomes a member the designation is Associate and therefore ACA. Members may apply for Fellowship (this means they can use the letters FCA rather than ACA) after 10 years in membership.
Julie Butler FCA and Stephen Slater FCA are both Fellows of the Institute of Chartered Accountants of England and Wales (ICAEW) with over 30 years of experience each and Butler & Co is a registered training firm with the ICAEW.
Membership to the Institute doesn’t come easily and takes a great deal of dedication, hard work and study. Once membership is achieved, there is regular monitoring to ensure that members maintain high standards of ethical and professional conduct.
The ICAEW Practice Assurance Scheme gives members in practice a framework of principles to help them assess and develop their own practices
All members must comply with the ICAEW scheme of Continuing Professional Development (CPD), ensuring that their knowledge and skills are kept up-to-date. They must also follow ICAEW Bye-laws, Regulations, Standards and Code of Ethics. Non-compliance can result in disciplinary action.
Chartered Accountants offering accountancy services to the public must have professional indemnity insurance and have an internal complaints procedure but the ICAEW can become involved if necessary. As a regulated firm, we are bound to retain your tax papers for sufficient time to assist you with meeting your regulatory obligations to HM Revenue & Customs. Should you wish to instruct a new accountant, we are bound by ICAEW regulations on handover to your new accountants to ensure a smooth transition.
Why settle for anything less when it comes to your personal and business finances?
Knowing that ICAEW members have undertaken an extensive training regime and have rules to follow and a reputation to live up to means that you can rely on the advice you receive from them.
You can find out more about the ICAEW at www.icaew.com.
Require more information?
If you would like more information or would like to speak to us direct then call us on 01962 735544. Or if you would prefer, ask us a question online.