What Is the Institute of Chartered Accountants in England and Wales?

The Institute Of Chartered Accountants In England and Wales (ICAEW) is a professional membership organization of accountants and finance professionals who have met various industry competency standards in England and Wales. To become a chartered accountant and be designated an Associate of the Institute of Chartered Accountants in England and Wales, ICAEW members must complete the ICAEW Chartered Accountant (ACA) qualification. The ACA is a professional qualification that requires candidates to complete at least three years of on-the-job training while passing a series of exams. The exam portion of the ACA program contains 15 modules focused on accountancy, finance, and business. The ACA also requires candidates to commit to professional development and a code of ethics.

Understanding the Institute of Chartered Accountants in England and Wales (ICAEW)

The Institute of Chartered Accountants in England and Wales (ICAEW) was founded in 1880 and is headquartered in London with offices across the globe, including in Beijing, Brussels, Dubai, and Vietnam. The organization provides professional development and qualifications to its members. ICAEW states its goal is to protect the quality and integrity of the accountancy and finance profession. As of May 2018, the ICAEW counts 150,000 professionals in its membership. Similar to most professional trade organizations, the ICAEW insists that its members demonstrate a certain level of expertise and follow a stated Code of Ethics. In the United States, the American Institute of Certified Public Accountants performs a similar service, although one need not be a member of this professional organization to be designated a certified public accountant (CPA).