If you think chartered accountants spend their lives confined to their desks, then think again.
They are sitting on the boards of multinational companies, testifying in court and advising governments, as well as supporting charities and businesses from every industry all over the world.
Founded in 1880, ICAEW (the Institute of Chartered Accountants of England and Wales) is one of the oldest accountancy bodies in the world and has more than 189,500 members and students in 147 countries.
ICAEW Chartered Accountants are the largest source of business advice in the UK, reaching more than 1.5m organisations. They undertake a large variety of work which can see them preparing financial statements and developing profit projections one day, and identifying strategic risks or advising on business improvements the next
They are highly qualified individuals and in demand from all types of organisations, all over the world, and command an average annual salary of £51,000 in the first two years after qualifying.
What do accountants do?
Chartered accountants play a vital role in the running of organisations. They offer advice, assurance and information that shape business-critical decisions.
ICAEW chartered accountants work at some of the highest levels of business across all economic sectors.
You can only become an ICAEW chartered accountant by completing the ACA qualification, which involves three years of on-the-job training, a series of examinations and continuing professional development.
What do accountants earn?
As a chartered accountant, you can look forward to a very competitive salary both while you train and once you are qualified.
Salaries for those studying to become a chartered accountant depend on the size and type of organisation, the industry sector and the location.
Graduates working in the Accounting and Professional Services sector in the UK enjoy average starting salaries of £30,000 (source: High Fliers: The Graduate Market in 2018).
The good news doesn’t end there, many students can double their salary during training and earnings for newly qualified ICAEW chartered accountants are on a par with those in law and banking.
Where do accountants work?
Working in practice
Many chartered accountants work within accountancy practices providing their financial expertise to clients.
Accountancy firms vary in size from multinational giants to small firms with a single office or a specialism in one area of finance, such as tax.
Regardless of the size of the company, working across a portfolio of clients means that chartered accountants enjoy a variety of work.
You could find yourself working with a new tech business start-up, a global retailer or a national charity.
Working in industry
All types of businesses from football clubs and fashion houses to manufacturers and media companies, have chartered accountants working within their financial departments.
In-house accountants forecast and monitor revenue coming into and leaving an organisation, as well as having a broader operational role.
Working in not-for-profits
Chartered accountants also play a key role in the running of public services and charities.
They work in local authorities helping to decide how money is spent on schools, housing or policing, for example, and for government departments, including the Treasury, supporting decisions that have an immediate, positive impact on society.
Others work in charities ensuring resources are being managed effectively and raising the profile of fundraising projects.
Working in financial services
Chartered accountants are also helping to shape the future of the financial services sector. They work within high street and investment banks making key recommendations on investments, risks and strategy.
Others work for insurance companies helping to assess the risk of insurance deals and advising on costs.
Find the right route for you to complete the ACA qualification and become a chartered accountant with ICAEW.
