Professional Bodies and Qualifications (Accountancy)
Updated 13 March 2021
In this article Skip to section
Careers in accountancy, tax and treasury all require you to pass exams and hold qualifications with a relevant professional body.
These will usually be studied for while working for a company such as one of the Big 4. Your company will usually cover the associated costs of training and examination.
Accountancy Qualifications
There are six main professional qualifications for accountants, each awarded by different bodies and often with a slightly different focus. They are all recognised throughout the accountancy world, although some may be more or less valued than others by specific employers or in certain countries.
The six main professional qualifications are:
- ACCA - Association of Chartered Certified Accountants - offers the ACCA Qualification, which focuses on business issues.
- CIMA - The Chartered Institute of Management Accountants Professional Qualification in Management Accounting - specialises in accounting for business.
- CIPFA - The Chartered Institute of Public Finance and Accountancy - the only professional accountancy qualification specifically geared to the public services.
- ACA - The Associate Chartered Accountant - the professional qualification from the Institute of Chartered Accountants in England & Wales (ICAEW).
- ICAI - The Institute of Chartered Accountants of Ireland - Chartered Accountant Training Programme (CA).
- ICAS - The Institute of Chartered Accountants of Scotland - Chartered Accountant Training Programme (CA).
Tax Qualifications
The usual step for graduates is to register and take the exams of the Association of Taxation Technicians (ATT) followed by those of the Chartered Institute of Taxation (CIOT). Membership of CIOT provides Chartered Tax Adviser (CTA) status.
Treasury Qualifications
The Association of Corporate Treasurers (ACT) offers two levels of qualification: AMCT (Diploma in Treasury, Risk and Corporate Finance) and MCT (Advanced Diploma in Treasury, Risk and Corporate Finance).
Choosing a Qualification
Your employer will usually determine which professional qualification you study for as part of your training contract, or provide you with a choice between two or three. Although it is possible to start your studies while not employed in an accounting/tax environment, all bodies require at least three years’ relevant practical experience before you can apply for membership.