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Certified Accountants, Chartered Association of
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One of the major bodies of accountants. whose members are recognized by the Department of Trade and Industry as properly qualified to audit the accounts of limited companies. The Association is an examining body but differs from the Institutes of chartered accountants in that it derives its membership more from without than from within private practice and does not insist on ‘articles’ as a prerequisite for membership. It therefore gains a large part of its members directly from industry, where applicants have studied accountancy whilst continuing full-time employment. Increasihgly, selected students are given extended leave on full pay to participate in special sandwich courses provided by technical colleges and geared to the examination requirements of the Association. Members may be Fellows (F.C.C.A.) or Associates (A.C.C.A.). The Association derives from the Corporation of Accountants (founded 1891), the Institute of CerV and the London Association of Certified Accountants (founded 1904). These were merged into the Association of Certified and Corporate Accountants, which in recent years was given its present title of Chartered Association of Certified Accountants. It is a company incorporated by Royal Charter.
Reference: The Penguin Business Dictionary, 3rd edt.
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