What is an accountant? According to the Australian Accountants Directory, they are “an accounting practitioner, which is the measurement, disclosure or provision of assurance on financial information that helps managers, investors, tax authorities and others make decisions about the allocation of resources” (“About accountantsAs you may know, different areas of the world have different professional accounting bodies.
For example, not all countries use the American Institute of Certified Public Accountants (AICPA). As the name suggests, it is only used in the United States. However, Australia has three legally recognized local professional accounting bodies; the Institute of Chartered Accountants (IPA), CPA Australia (CPA) and the Institute of Chartered Accountants of Australia (ICAA).
The API has been in existence since 1923 and continues to grow in the organization today. After 90 years, it currently has more than 26,000 members and students in 64 countries and is ranked among the world’s leading professional accounting bodies (“Institute of Public AccountantsThey acquired a full membership of the International Federation of Accountants (IFAC) in 2005, as well as the Confederation of Accountants of Asia Pacific (CAPA) in 2011. They are really working to establish relationships and exchange knowledge abroad. In all they do as they are already recognized as one of the top 20 on BRW’s Most Innovative Companies in Australia list for 2012. The API has three membership levels, Associate (AIPA), Member (MIPA) and Fellow (FIPA). ). An associate membership requires one to have an Australian Advanced Diploma in Accounting or a Bachelor of Accounting which may be Australian in nature or equivalent. MIPA membership requires an Australian Advanced Accounting Diploma, two years of full-time work experience in the pre-API program in accounting or related fields, and a mentoring experience program. A FIPA membership requires 7 years of MIPA status or equivalent and 10 years of accounting experience the last five years must be at a higher level (“Institute of Public Accountants“).
According to CPA Australia, it is one of the largest accounting bodies in the world with a global membership of over 150,000 members working in 120 countries around the world and with over 25,000 members working in senior leadership positions (About usThey provide education, training, technical support, and advocacy. They were the first to enter the Asian market, where their involvement began in the early 1950s and aimed to develop and strengthen the accounting profession in the region. As of today, nearly one – a quarter of CPA Australia members reside outside Australia, with more than 35,000 in Asia. They currently have nineteen staffed offices in Australia, China, Hong Kong, Malaysia, Singapore, Indonesia, Vietnam, New Zealand and the United Kingdom. The majority of candidates for this program have a postgraduate award that is recognized by CPA Australia, and demonstrate proficiency in the required knowledge areas and, within a period of six years, successfully complete the CPA Program (“About usThey must also have three years of professional experience in business finance or accounting. To offer public accounting services, CPAs must also complete CPA Australia’s public practice program, which includes distance learning and a residential component, and must have a public practice certificate in accordance with the CPA Australia statutes. .
The ICAA is the professional body representing Chartered Accountants in Australia. They currently have more than 50,000 members and 12,000 students (“News and Updates“). To become a member of the institute, one has to complete the Public Accountants Program which includes study of the Postgraduate Diploma in Public Accounting (GradDipCA) and three years of practical experience. Entry is available to anyone who has a accounting degree; however, those with non-accounting degrees may also be allowed entry after additional requirements are met. Global Accounting Alliance (GAA). Members of this alliance are part of the international accounting coalition of the The world’s leading accountancy bodies Audit of Chartered Accountants 100 percent of the leading ASX listed companies in Australia They are recognized by the international accounting bodies of the world’s leading financial centers. In November 2013, the ICAA merged with the New Zealand Institute of Chartered Acco untants and are now known as “Chartered Accountants Australia and New Zealand “(“News and Updates“).
Compared to professional bodies in the United States, those in Australia are not much different judging from the research. Each of them has the same principles in a sense, but there are very few minimal things that are different.
Cited works
“About the accountants”. Directory of Australian Accountants / Directory of Australian Accountants / Accountants. Np, nd Web. 07 Apr 2015.
“About us.” CPA Australia -. Np, nd Web. 03 Apr 2015.
“Institute of Public Accountants”. Institute of Public Accountants. Np, nd Web. 07 Apr 2015.
“News and updates”. Chartered accountants from Australia and New Zealand. Np, nd Web. 05 Apr 2015.