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CPA and Chartered Accountants

What does CPA stand for and what does it mean?

 

There a are various types of qualifications that practicing accountants may choose to obtain. Some firms require their staff to have certain accreditation in order to be a part of that organisation and others are not so stringent in their ways. Either way, becoming an accredited accountant, which ever certification you chose, is no mean feat.

You can rest assured that all accountants at The Quinn Group are not only certified to be practicing but they regularly undertake further studies. This allows them to continually develop their skills and stay up-to-date with the latest changes in the accounting world so that they can provide you, our valued clients, with the best possible advice for your situation.

CPA:  CPA stands for Certified Practising Accountant, and to become a member one must have a combination of work experience, tertiary education, completion of the CPA program, complete personal development every year, and follow a stringent code of conduct. The CPA organisation is a leading global body in the accountancy field.

CA: CA stands for Chartered Accountant – this name is the shortened version that is globally recognisable; whereas ICAA is the more nation specific version of CA, i.e. Institute of Chartered Accountants Australia.  To qualify to become a member of the CA you must have atertiary degree with a major in Accountancy, have worked for 26 weeks under a practicing CA, and begin employment with a recognised CA organisation – if you did not major in Accountancy, there are additional criteria that has to be met.

ACCA: ACCA stands for the Association of Chartered Certified Accountants – they place a strong emphasis on catering to their members needs, and have a strong global focus. To become a member one must have three years supervised experience in the field, and have gained 13 performance objectives that are listed in their TDM (Trainee Development Matrix).

If you require the services of a qualified CPA or CA professional, contact The Quinn Group on 02 9223 9166 to see how we can help you.

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