Chartered Accountant

"Challenge it, achieve it" is the mantra on a loop for Chartered Accountants in charge of all financial documentation that needs to be legally disclosed. Behind every successful business is a team of Chartered Accountants who devise financial systems, check accounting procedures, and ensure legal compliance.

What do Chartered Accountants do?

A Chartered Accountant would typically need to:

• Manage financial systems and budgets, undertake financial audits, review the company's policies and analyze risk; prepare financial statements, including monthly and annual accounts
• Prepare and maintain financial records, ensuring their accuracy and compliance with relevant rules and standards
• Advise clients on tax and treasury issues and business transactions such as acquisitions & mergers and associated tax planning & tax issues; compute tax liability and prepare and file tax returns
• Maintain accounting records and prepare accounts and management information for small businesses
• Detect and prevent fraud and counsel clients on areas of business improvement or insolvency
• Produce reports and recommendations following internal or public-sector audits; arrange financial management reports, including financial planning and forecasting
• Liaise with internal and external auditors and deal with any financial irregularities as they arise; manage junior colleagues, and negotiate terms with suppliers
• Sign documents that need to be submitted to any official agencies or authorities by publicly traded companies
• Uphold the fundamental values and ethical principles of the accountancy profession including confidentiality, integrity, professional behavior, competency, and objectivity

Jobs for Chartered Accountants are more commonly found in cities and larger towns with potentially higher salaries. Post-qualification and training opportunities exist overseas. Travel within a working day is standard in audits carried out mainly at client premises. Overnight absence from home and occasional overseas travel is possible. Work in tax or smaller firms is more office-based with less travel. A formal dress code is expected due to the high-profile and high-responsibility nature of a Chartered Accountant's work.

Due to the position's sensitivity, Chartered Accountants often use their experience as part of their training. Explore apprenticeship and internship to learn more about the industry and increase the chances of employment.

Many colleges help students gain practical experience through summer or part-time internships with public accounting or business firms. Contact accountancy firms to ask about opportunities to gain relevant pre-entry work experience, such as vacation work, work placements, or shadowing.

Entry is open to graduates of all disciplines, but a bachelor's degree in accounting or related fields is preferred. Some employers prefer to hire applicants who have a master's degree, either in accounting or business administration with a concentration in accounting.

While entry to the profession without a degree or its equivalent might be possible in some countries, larger employers prefer graduates.

One of the most difficult parts of becoming a Chartered Accountant is securing a training contract with an employer approved by one of the institutes recognized the world over. As the training contract lasts for three to five years, it is important to consider the training package, leave and pay offered by your employer before you commit, as managing professional study while working can become demanding.

Competition is tough, and the selection process is rigorous. It is best to start applying in the autumn term of your final year at university to ensure access to the widest range of opportunities. Look out for the larger firms presenting on campus at recruitment fairs.

Certification demonstrates professional competence in a specialized field of accounting and auditing. Chartered accountancy qualifications lead to the designation 'Chartered Accountant.' Successful certification programs also promote and enhance the profession's visibility and are responsible for investigating Chartered Accountants who practice outside of the program's Code of…