How to Become Chartered Accountants

May 19th, 2010 by admin

Australian chartered accountants are those that have a membership in The Institute of Chartered Accountants for the country of Australia. The Institute was constituted in 1928 and currently operates under a Supplemental Royal Charter. A person can become a member by completing a Graduate Diploma in Chartered Accounting and completing three years of work experience in the field of accounting. Any person with a university degree, accounting or other, is eligible to complete the Chartered Accountants Program. Non-accounting majors will have to complete an entrance exam in order to qualify.

 

People wanting to become chartered accountants in Australia are required to have acceptance in the program before completing the 14-week study program consisting of five core modules. Once accepted into the program, the modules taken are Auditing and Assurance, Ethics and Business Application, Financial Accounting and Reporting, Management Accounting and Analysis and Taxation. The chartered accountants must also complete practical experience, which consists of 17.5 hours of authorized employment each week for three years.

 

Once completing the program, the chartered accountants membership consists of several categories depending on the type of designation. The member designation is chartered accountants who place a CA after their name. Fellows are Fellow Chartered Accountants and place a FCA after their name. The difference between the two is the fellows have been members for 10 years and are in a senior level position for at least seven of those years. An Affiliate Membership is given to those that have been members for at least five years but did not finish the chartered accountants program. A teacher of accounting is able to receive membership if they have a Masters or Doctorate degree through research with a major in the accounting field. A teacher does not have to complete the 14-week program, but is required to have experience, leadership roles and higher education degrees in order to gain membership in The Australian Institute of Chartered Accountants.

 

Once having an accepted membership, chartered accountants are required to continue educating themselves by completing a minimum of 120 hours of continued education every three years, or 40 hours each year. This will assist the chartered accountants in maintaining high standards of professionalism in the field of accounting.

 

 

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