Chartered accountant essential strategic guidance, expertise and consulting across a vast array of business activities and sectors. Through their training and experience, CAs have a greater ability to analyses and interpret business problems in multiple dimensions and develop dynamic solutions. Chartered Accountants advise organisations, lead major companies, shape economic policy and deliver effective financial management and reporting.
A chartered accountant will focus on providing accurate of all financial transactions for an individual or business. Thus, this type of accountant is more likely to be found employed in a more commercial capacity. Such examples can include larger non-profit organisations, corporations and the commerce or industrial sector.
To qualify as chartered, your accountant will have had to carry out work for a breadth of different clients across a range of industries. Building acute business awareness and strong personal judgement, they’ll most probably have gained experience working with businesses that are high-performing to those under financial pressures. Choose a chartered accountant that specialises in your particular field or industry, and you’ll benefit from specific expertise that matches your scale and type of business.
Chartered accountants who work as auditors are responsible for checking a company’s statements to make sure they are legal and accurate. Auditors work as independent outsiders who can give an objective and reliable assessment of the validity of an organization’s financial statements. They sometimes make use of computer software designed to spot any irregular patterns that may indicate fraud or mismanagement. Because auditors are usually brought in from outside the company, you may have to travel frequently if you choose this specialization.
Chartered accountants can specialise in a range of specialist areas such as:
- provide financial advice
- liaise with clients (individuals or businesses) and provide financial information and advice
- review the company’s systems and analyse risk
- perform tests to check financial information and systems
- advise clients on tax planning (within current legislation to enable them to minimise their tax liability) and tax issues associated with activities such as business acquisitions and mergers
- maintain accounting records and prepare accounts and management information for small businesses (accountancy)
- advise clients on business transactions, such as mergers and acquisitions (corporate finance)
- counsel clients on areas of business improvement, or dealing with insolvency
- detect and prevent fraud (forensic accounting)
- manage junior colleagues
- liaise with internal and external auditors (where applicable) and deal with any financial irregularities as they arise
How to become a charted accountant
Chartered accountancy is one of the most diverse, exciting and secure careers, offering a wide range of career opportunities across all business sectors. Regardless of one’s professional background or discipline, being ‘chartered’ means you are recognised as being the top of your chosen profession. It shows you have industry specific skills and experience, not just academic and theoretical knowledge.
Being a chartered accountant is so much more than just ‘balancing the books’. As a chartered accountant you will be respected for your understanding of complex financial information and trusted for your strategic business advice
Business graduates already have a broad academic foundation for further study in the technical subjects required for professional examinations. The range of exemptions offered from these examinations reflects the content and level of the degree obtained – lots of degrees gain an entire exemption from CA Proficiency 1.
Business graduates are recommended to participate in the 5 day induction course run in septembre. The aim of the course is to equip students with the relevant practical skills and assist quick integration into the working environment.
Many CAs have qualified in non-business related disciplines such as law, computer science, engineering or arts. The Institute encourages this, recognising that their diverse backgrounds bring an invaluable mix of skills and knowledge to the profession. The first examination for non-business graduates is CA Proficiency 1.
The programme leading to this examination, and especially to the subject ‘Financial Accounting,’ assumes some prior knowledge of this subject. We recommend therefore that
a chartered accountant can work for a financial consultation firm as part of the accounting team. There are also chartered accountants hired by companies to constantly monitor their financial transaction and standing. Some chartered accountants, especially those with advanced studies, sought employment as teachers.
According to research performed by Chartered Accountants Ireland, there was a 13% increase in salary from 2014 to 2015 and the future looks bright. Even as a newly qualified chartered accountant you can expect to earn a salary package worth €58,000 a year. This is likely to increase to €100,000 per annum once you have racked up a few years of experience.
At present, approximately 98% of chartered accountants are employed, 75% received a significant pay rise in the last 3 years and 49% have received promotions since becoming qualified.