Professional Accounting Bodies In Australia

What is an accountant? In accordance to Australian Accountants Directory they are, “an expert of accounting or accountancy like Stones Sharp Accountants, which is the disclosure, measurement or stipulation of assurance regarding pecuniary information that helps tax authorities, investors, managers and others make choices about allotting resources. As you may previously know, several areas of the world have different specialized bodies of accounting.

For instance, not every county makes use of American Institute of Certified Public Accountants. As the name indicates, that is only used within the United States. Australia though, has three officially recognized local certified accounting bodies; the institute of chartered accountants of Australia (ICAA), the institute of public accountants (IPA) and CPA Australia (CPA).

The institute of public accountants has been around since 1923 and keeps up to develop in the organization nowadays. After 90 years it presently sits more than 26,000 students and affiliates across 64 countries and is ranked amongst the top professional accounting bodies around the world.

In accordance to CPA Australia, they are considered amongst one of the world’s leading accounting bodies with a worldwide association of more than 150,000 representatives working in 120 countries around the globe, and with more than 25,000 representatives working in senior leadership ranks. They provide advocacy, technical support, training and education. They were an early greenhorn in the Asian Market, where their participation started in the early 1950s and aimed at strengthening and developing the accounting line of work in the region.

As of nowadays about one quarter of Australia’s CPA members live outside of Australia, with more than 35,000 in Asia. They presently have nineteen staffed offices all across Australia, UK, New Zealand, Vietnam, Indonesia, Singapore, Malaysia, Hong Kong and China.

In order to become a member of this program, it is necessary that candidates must hold a postgraduate degree recognized by CPA Australia, and show proficiency in the required knowledge areas and, successfully complete the CPA Program within a period of six years.

The ICAA is the professional body symbolizing Chartered Accountants in Australia like Stones Sharp Accountants. They presently have over 12,000 students and 50,000 members. To become a member of the institute, one should successfully complete the Chartered Accountants Program which involves study of Graduate Certificate in Chartered Accounting and three years of practical knowledge. Entry is open to everyone who holds an accounting degree; however, those having non-accounting degrees can also be allowed entry after extra requirements are met successfully.

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