Chartered accountant

From ArticleWorld

Chartered accountant is a certification given to accountants by recommended institutes around the world for their knowledge and calibre.


The different countries of the world have different institutes for the development and organisation of the accountants. In the United Kingdom and India accountants are Chartered Accountants, in the US they are termed as Certified Public Accountants, Certified General Accountants in Canada. Such institutes have achieved recognition as a premier accounting body for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards.


Chartered Accountants are given the highest authority in the matters relating to accounts so they have to maintain integrity and also have to follow ethics connoted by the respective institute of the country. The rules of ethics and Act specific to them are being formulated so that the trust, status, independence and integrity are not disturbed as such. The Statutory body is established for the regulation of the profession. In order to attain the objectives of the accountancy profession, the professional accountants have to comply with a number of pre-requisites or fundamental principles. The fundamental principles are integrity, objectivity, professional competence and due care, confidentiality, professional behaviour and technical standards. While in public practice, an accountant should both be, and appear to be, free of any interest, which might be regarded, whatever its actual effect, as being incompatible with integrity and objectivity. The Code of Ethics has a great deal of practical value in so far as it proclaims to the public that the members of the profession will discharge their duties and responsibilities, having regard to the public interest. This, in turn, will give an assurance to the public that in the event of a member straying away from the path of duty, he would be suitably dealt with by the professional body. A member of the institute is liable to disciplinary action if he/she is found guilty of any professional or other misconduct.