Professional Accountancy Bodies in Australia

What is an accountant? According to the Directory of Australian Accountants, they are “a professional accountant or accountant, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about the allocation of resources”(“About counters“). As you may already 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 accountancy bodies; the Institute of Chartered Accountants (IPA), CPA Australia (CPA) and the Institute of Chartered Accountants Australia (ICAA).

The IPA has been in existence since 1923 and continues to grow in organization today. After 90 years, it now has more than 26,000 members and students in 64 countries and is ranked among the world’s top professional accountancy bodies (“Institute of Public AccountantsThey gained full membership of the International Federation of Accountants (IFAC) in 2005, as well as the Confederation of Asia Pacific Accountants (CAPA) in 2011. They are really working to build relationships and exchange knowledge abroad. PA). 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 the senior level (“Institute of Public Accountants“).

According to CPA Australia, it is one of the world’s largest accountancy bodies with a global membership of more than 150,000 members working in 120 countries around the world and with more than 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 was aimed at developing and strengthening the accounting profession in the region. Today, almost a quarter of CPA Australia’s members reside outside of Australia, with over 35,000 in Asia.About us“). They 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 programme, which involves distance learning and a residential component, and must hold a Public Practice Certificate in accordance with CPA Australia’s bylaws.

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“). GAA). Members of this alliance are part of the international accounting coalition of the world’s leading accounting bodies. Chartered Accountants audit 100 percent of the major ASX-listed companies in Australia. They are recognized by the international accounting bodies of the world’s leading financial centers.News and updates“).

Compared to professional bodies in the United States, those in Australia are not much different, judging by the research. Each part of the same principles in a sense, but there are very few minor things that are different.

Works Cited

“About Accountants”. Directory of Australian Accountants / Directory of Australian Accountants / Accountants. Np, na Web. 07 apr. 2015.

“About us.” CPA Australia-. Np, na Web. 03 apr. 2015.

“Institute of Public Accountants”. Institute of Public Accountants. Np, na Web. 07 apr. 2015.

“News and Updates”. Chartered Accountants of Australia and New Zealand. Np, na Web. 05 apr. 2015.

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