What does “Chartered” mean?
The “Chartered” title is an internationally recognised professional designation which can be used by qualified professionals including engineers, surveyors, accountants and tax advisers. It demonstrates the highest standards of ethical and professional conduct, up-to-date technical expertise and capability of a qualified professional.
Only an accountant who has undergone the rigorous academic training and obtained the relevant technical experience required by the ICAEW may call themselves a Chartered Accountant and use the initials ACA after their name. ICAEW Chartered Accountants can also be recognised by this logo, which shows they are a qualified Chartered Accountant.
The Chartered Institute of Taxation is the leading professional body for tax advisers in the UK. Membership is by examination recognised as the gold standard of UK taxation education. Only those practitioners who successfully complete the examination syllabus and have obtained relevant technical experience may call themselves a Chartered Tax Adviser and use the initials CTA after their name. Only CIOT Chartered Tax Advisers are permitted to use this logo.
In the UK, anyone can advertise their services as an accountant so why should you choose a Chartered Accountant and Chartered Tax Adviser?
- They have in-depth knowledge and expertise acquired through a minimum of three years training and must prove that they have relevant practical experience working with their clients.
- They are trained to listen and question, ensuring the highest standard recommendations for that specific individual or company.
- Once qualified they are required to undertake Continuing Professional Development training to keep their knowledge and skills up to date.
- They are bound by a Code of Ethics ensuring professionalism and responsibility to their clients.
- They are subject to disciplinary procedures and review as part of the ICAEW Practice Assurance scheme ensuring quality control procedures are in place.
- All Chartered Accountants and Chartered Tax Advisers must hold a practising certificate and have Professional Indemnity Insurance.
- They have the ability to apply their expertise allowing them to advise clients of all sizes, from all sectors and with a variety of financial queries and needs.
- They have access to an enormous amount of technical support and information from their professional bodies and fellow practitioners.
- The Chartered title does not necessarily mean that you will pay more but it does mean that you can rely on the value of the services and advice that you receive.
- Chartered Accountants and Chartered Tax Advisers have a relationship built on trust with their clients who know that they can depend on them to do their best at all times.