The Institute of Chartered Accountants in Australia (Institute) is a professional accounting agency representing Chartered Accountants in Australia. It has more than 61,000 members and about 12,000 students. This is one of the three principally recognized Legal Accounting bodies in Australia. The other is the Australian CPA and the Institute of Public Accountants. It is a founding member of the Global Accounting Alliance (GAA). Members of the Institute are part of the international accounting coalition of the world's leading accounting agency, GAA. Chartered Accountants audit 100 percent of Top ASX listed companies in Australia.
In November 2013, Members of The Institute of Chartered Accountants in Australia and the New Zealand Institute of Chartered Accountants voted yes on a proposal to create One New Institute: "Chartered Accountants Australia and New Zealand".
The Institute of Chartered Accountants of New Zealand and the Institute of Chartered Accountants in Australia (ICAA) joined the Chartered Accountants of Australia and New Zealand.
Video Institute of Chartered Accountants Australia
History
Australian Accounting Company
The Australian Corporation of Accountants was granted an official emblem by the College of Arms in 1905. In 1906, the Australian Corporation of Accountants and the Sydney Institute of Certified Public Accountants moved to create a national accounting body of all public accountants practicing in Australia.
Australasian Corporation of Public Accountants
In 1907, negotiations between the Australian Corporation of Accountants, the Sydney Institute of Certified Public Accountants and the Institute in Melbourne, resulted in the establishment of the Australasian Public Accounting Corporation (ACPA) on 14 June. ACPA membership consists only of practicing public accountants.
Institute of Chartered Accountants in Australia
The Chartered Accounting Institute in Australia was formed with the award of the Royal Charter on June 19, 1928, for Thomas Brentnall, George Mason Allard and Henry Joshua Wise on behalf of an Australian public accountant. ICAA is the first accounting body outside the United Kingdom to receive the Royal Charter.
On October 26, 1929 Earl Marshal of England gave current weapons to the Institute. The arms include the Latin motto 'Nec Timens Nec Favens' which translates to 'Without Fear or Favor'.
The Institute now operates under the Royal Charter Supplement (amended from time to time) provided by the Governor-General on behalf of Queen Elizabeth II on August 19, 2005.
Chartered Accountants Australia New Zealand
After voting on a merger with the New Zealand Institute of Chartered Accountants, the agencies established Chartered Accountants Australia and New Zealand December 31, 2014.
Maps Institute of Chartered Accountants Australia
Reception to membership
To become a member of the Institute, Chartered Accountants completes a Chartered Accounting Program that includes Graduate Diploma in Chartered Accounting (GradDipCA) and three years of practical experience. Entry to the Program is available for graduates holding an accounting degree, but those holding a non-accounting degree may also be admitted after some additional requirements are met.
Accounting Degree
To take this path you will have a bachelor or master's degree in trade, business or accounting from an accredited Australian university. The degree of trade and business will require an accounting department, in order to qualify.
Title Non Accounting
There are three routes for non-accounting graduates can take to qualify for the Chartered Accountant Program:
- Accredited Graduate Conversion graduate program: Available from most Australian universities
- Entry examination: Available for non-accounting graduates with significant workplace accounting experience and company support
- Graduate Certificate of Chartered Accounting Foundation from Deakin University. Graduate Diploma in Chartered Accounting
- Audit and Warranty
- Taxation
- Applied Management and Financial Accounting (As of 1st January 2013)
- Financial Accounting and Reporting
- Capstone (as of January 1, 2014)
- Hired with an organization recognized by the Institute for at least 17.5hpw while completing GradDipCA
- Record your work experience with Chartered Accountant mentors
- Apply for full membership after completing GradDipCA and collect at least three years of practical work experience.
- Members: Have the name CA after their name.
- Fellows: Have FCA (Fellow Chartered Accountant) names after their names. These members have been nominated for Advancement Fellowship and have been sustainable members for 10 years and have been in senior positions for seven years. To move forward to Co-members must show 'leadership'
- Affiliate membership: Has an accounting degree and at least five years of membership, but has not completed Chartered Accountant Program.
- Accounting Teachers: For teachers to gain membership, they are required to complete a Doctor or Masters degree with research in accounting-related majors, holding senior academic positions for not less than five years, have appropriate Australian Taxation and Legal knowledge Corporate and have references from two Chartered Accountants and their Principals, and other important academics
- Public Practice Certificates: Companies or members who offer their services to the public as 'Chartered Accountants'.
- The Tax Authority (Australia)
- List of Australian organizations with royal patronage
- The Global Accounting Alliance
- IFACnet
- International Qualification Exam
- The Queensland University Business Association
- Official website
- Student Challenges
- Resources (Professional Agency in Australia)
The GradDipCA component of the Chartered Accounting Program consists of the following five modules each of which take approximately 14 weeks of part-time study to complete:
The Institute is the only Australian professional accounting institution that is a government accredited Higher Education provider. Unlike other Australian accounting designations, the Chartered Accountant Program leads to the provision of a Postgraduate Diploma. Qualifications A Chartered Australian accountant is recognized as an "approved qualification" - a significant requirement for auditor registration purposes in the UK.
Practical experience
To meet the requirements of practical experience to become a Chartered Accountant in Australia, you must:
Membership
There are a number of different membership categories:
Continuing education
Chartered accountants continue their education to ensure they are able to provide the highest standards of integrity and professionalism. Chartered accountants must complete a total of 120 hours of Continuing Professional Education every three years.
Ethical Standards
This institute works with CPA Australia and the Institute of Public Accountants in support of Professional Accounting & amp; Ethical Standards Board (APESB), established in 2006. APESB publishes ethical standards to be followed by accountants in Australia based on international standards published by the International Code of Ethics Standards for Accountants (IESBA).
See also
References
External links
Source of the article : Wikipedia
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