| Institute of Chartered Accountants in Australia (ICAA) |
|
|---|---|
Coat of arms of the Institute |
|
| Motto | Nec Timens Nec Favens (Without fear, Without favour) |
| Formation | 19 June 1928 |
| Legal status | Chartered body |
| Membership | 50,000 |
| Students | 12,000 |
| Governing body | Board of Directors |
| IFAC member since | 1 October 1977 |
| Website | www.charteredaccountants.com.au |
| Former name | Australian Institute of Public Accountants |
The Institute of Chartered Accountants in Australia (the Institute) is the professional accounting body representing Chartered Accountants in Australia. It has over 50,000 members and has some 12,000 students. It is a founding member of the Global Accounting Alliance (GAA).[1]
Contents |
The Institute of Chartered Accountants in Australia was constituted by Royal Charter in 1928. The Institute now operates under a Supplemental Royal Charter (amended from time to time) granted by the Governor-General on behalf of Queen Elizabeth II on 19 August 2005. The Institute of Chartered Accountants in Australia was called Australian Institute of Public Accountants before 1928.
To become a member of the Institute, Chartered Accountants complete the Chartered Accountants Program which includes study of the Graduate Diploma in Chartered Accounting (GradDipCA) and three years of practical experience. Entry to the Program is available for graduates who hold an accounting degree, however those holding non-accounting degrees may also be permitted entry after some additional requirements are met.
To take this path you will have either a bachelor or master's degree in commerce, business or accounting from an Institute accredited Australian university. The commerce and business degrees will require a major in accounting, in order to qualify.
There are three routes for non-accounting graduates can take to qualify for the Chartered Accountants Program:
The GradDipCA component of the Chartered Accountants Program consists of the following five modules which each take approximately 14 weeks of part-time study to complete:
The Institute is the only Australian professional accounting body that is a government accredited Higher Education provider. Unlike other Australian accounting designations, the Chartered Accountants Program leads to the awarding of a Graduate Diploma. The Australian Chartered Accountant qualification is recognised as an “approved qualification” - a significant requirement for auditor registration purposes in the UK. Chartered Accountants audit 100 per cent of the Top ASX-listed companies in Australia. Australian Chartered Accountants are recognised by the international accounting bodies of the leading financial centres of the world. Members of the Institute are part of the international accounting coalition of the world’s premier accounting bodies, the GAA.
To meet the practical experience requirements to become a Chartered Accountant in Australia, you must:
There are a number for different membership categories:[2]
Chartered Accounants continue their education to ensure they are able to provide the highest standards of integrity and professionalism. A Chartered Accountant must complete a total of 120 hours of Continuing Professional Education every three years. The institute collaborates with CPA Australia and the Institute of Public Accountants in supporting the Accounting Professional & Ethical Standards Board (APESB), founded in 2006. APESB publishes ethics-related standards that must be followed by accountants in Australia based on the international standards published by the International Ethics Standards Board for Accountants (IESBA).[3][4]
As a member of the Global Accounting Alliance, the Institute has reciprocity agreements with the following overseas accounting bodies:
The Institute works closely Australian universities and is a sponsor of the following student accounting organisations:
|
||||||||||||||||||||