accountancy bodies

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Organizations, established in most countries in the world, to regulate the activities of accountants; their members are normally entitled to use the title chartered accountant, chartered certified accountant, or certified public accountant. Membership is normally controlled by examination and the members are expected to comply with the regulations of their body. In the UK and the USA the accountancy profession is powerful and active. It takes a significant role in the regulation of financial accounting and reporting by issuing accounting standards. In the UK, the profession is somewhat fragmented due to the number of separate accountancy bodies. Although there have been attempts to integrate these into one body, this has not yet been achieved. The professional bodies in the UK making up the Consultative Committee of Accountancy Bodies are the Association of Chartered Certified Accountants, the Chartered Institute of Management Accountants, the Chartered Institute of Public Finance and Accountancy, the Institute of Chartered Accountants in England and Wales, the Institute of Chartered Accountants in Ireland, and the Institute of Chartered Accountants of Scotland. See also Designated Professional Body; Recognized Qualifying Body; Recognized Supervisory Body.

Subjects: Accounting.

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