Chartered Certified Accountant (designatory letters ACCA or FCCA) was historically seen as a British qualified accountant designation awarded by the Association of Chartered Certified Accountants (ACCA). However, although ACCA is UK based, it is a global body for professional accountants with 170,000 qualified members and 436,000 students globally. Support offices/centres exist in 91 countries.
The term Chartered Certified Accountant was introduced in 1996. Prior to that date, ACCA members were known as Certified Accountant. It is still permissible for an ACCA member to use this term. Members of ACCA with post-qualification experience of more than five years and have completed the required continued professional development are designated Fellows, and use the designatory letters FCCA in place of ACCA.
The term Chartered refers to the Royal Charter granted by Her Majesty Queen Elizabeth II of the United Kingdom.
Chartered Certified Accountants work in all fields of business and finance. Some are engaged in public practice work, others work in the private sector and some are employed by government bodies.
Since Chartered Certified Accountant is a legally protected term, individuals who describe themselves as such must be members of ACCA. If they carry out public practice engagements, they must comply with additional regulations such as holding a practising certificate, being insured against any possible liability claims and submitting to inspections.
Benefits of the ACCA qualification
- enables you to become a Chartered Certified Accountant, use the designatory letters ACCA, and work in any aspect of finance or management in any business.
- better employment prospects as a result of having shown an ability in all areas of business.
- assures an employer that you have the skills necessary to progress to more senior management positions.
- higher status in the eyes of an employer, and also your clients.
- ACCA is the largest and fastest-growing global professional accountancy body in the world, with over 320,000 members and students in 170 countries.
- gaining such a qualification is evidence that the holder possesses skills and knowledge which are in high demand by employers in industry, banking, auditing, consulting as well as other professions like taxation and law.
- candidates not only gain specialist knowledge in finance and accounting, but also acquire valuable skills in organisational management and strategy.
- the qualification does not concentrate only on theory, and unlike Universities prepares a graduate for practical usage.
- the qualification is based on international accounting and auditing standards and is IFAC compliant.
- ACCA Professional qualification is of a high standard and is equivalent to completing full University Degree
- with exams twice a year students can work while they study.
- personal satisfaction of having acquired the business skills.