How to become a certified public accountant in the UK: requirements and pathways

Accounting is a profession with almost limitless possibilities for growth. While there’s no single route to success, accountants in the UK looking to progress their careers often strive to achieve Chartered Accountant (CA) status. 

In this article, we’ll explain everything you need to know about becoming a chartered accountant. We’ll explore the benefits, core duties, and professional requirements you need to succeed.  

What is a chartered accountant?

A chartered accountant is a highly qualified accounting professional who has gained the Chartered Accountant designation. This typically involves: 

• Gaining relevant work experience
• Undergoing rigorous training
• Passing a series of examinations accredited by professional accounting bodies 

The Chartered Accountant designation is considered the international equivalent of the Certified Public Accountant (CPA) designation in the US. Both chartered accountants and CPAs stand out from the accounting crowd and are able to work in more complex, high-ranking roles.

Further reading: Chartered accountant vs accountant: what’s the difference?

What are the benefits of becoming a chartered accountant?

Becoming a chartered accountant in the UK brings all sorts of benefits, both professional and personal. Here are some of the key advantages to consider: 

Higher earning potential

Chartered accountants are among the highest-paid professionals in the finance sector. The average salary for chartered accountants is £130,000. Compare that with the average salary for UK accountants of just over £40,000, and you can see the difference the CA designation makes. 

More interesting opportunities

Chartered status opens the door to all sorts of interesting accounting work. Regular accountants often handle repetitive work such as tax preparation or payroll. Chartered accountants on the other hand focus on more advanced areas. These include applied finance, management accounting, audit, and forensic accounting.

Opportunities for career advancement

Becoming a chartered accountant leads to more interesting work and broader career opportunities. CAs have a better chance of becoming finance directors, chief financial officers (CFOs), or partners in accounting firms.

Professional prestige

Becoming a CA is a major milestone in any accounting career, bringing with it professional recognition and respect. If you run an accounting business, holding the CA designation will help you attract new clients. 

Continuing learning and development

Being a chartered accountant requires a commitment to continuous professional development (CPD). You’ll need to dedicate a minimum number of hours each year to CPD activities to maintain your status with a professional body. This means you’ll always be adding new skills and keeping up with the latest accounting trends, regulations and best practices.

What are the main duties and responsibilities of chartered accountants?

As a chartered accountant, you’ll be qualified to tackle more complex, high-value, and strategic work. In this section, we’ll explore some of the diverse responsibilities you can expect to take on as a CA. 

Financial reporting and analysis

Chartered accountants prepare, analyse, and present financial statements and reports. They also provide senior management with the information they need to make informed decisions and manage risk.

Auditing

One of the core responsibilities of a chartered accountant is conducting audits, both internal and external. When working on audits, CAs are required to: 

• Assess the accuracy of financial records
• Analyse internal processes and controls
• Detect any irregularities or issues
• Ensure compliance with legal regulatory requirements

Tax planning and compliance 

Chartered accountants are qualified to advise individuals and businesses on tax-efficient strategies. They ensure that their clients’ tax burdens are reduced as much as possible while staying compliant with the latest tax legislation. 

Budgeting and forecasting

Chartered accountants create accurate budgets and forecasts based on historical data, market trends, and corporate strategies. This helps businesses plan for the future and allocate resources more efficiently.

Risk management

Risk management is another example of the strategic nature of a chartered accountant’s work. By analysing financial data and market trends, CAs can identify and evaluate financial risks. They can then advise businesses on the best strategies and controls to mitigate those risks. 

Forensic accounting

Some chartered accountants choose to focus on forensic accounting. This helps organisations or government agencies to investigate financial discrepancies and crime. Forensic accountants often collaborate closely with legal professionals and even law enforcement to resolve complex financial disputes.

Corporate finance

Chartered accountants are often involved in corporate finance. They may help advise business leaders on the financial implications, risks, and benefits of decisions relating to mergers, acquisitions, investments, and other major business decisions. 

How to become a Chartered Accountant

There are plenty of reasons why you’d want to become a chartered accountant. At this point, you may be wondering, where do I start? In this section, we’ll break down the steps involved in becoming a chartered accountant in the UK.

1. Gain the relevant experience and qualifications

Before you consider becoming a chartered accountant, you’ll first need to obtain the minimum qualifications. There are several ways you can do this. 

Many CAs start by gaining a bachelor’s degree in accounting or finance, which will require a minimum number of GCSEs and A levels to enrol on. Others choose to take the Association of Accounting Technicians (AAT) Professional Diploma in Accounting. 

2. Choose a professional accounting body

The Chartered Accountant designation is awarded and maintained by professional accounting bodies. In the UK, there are six accounting bodies through which you can obtain CA status: 

• Institute of Chartered Accountants in England and Wales (ICAEW)
• Association of Chartered Certified Accountants (ACCA)
• Chartered Institute of Management Accountants (CIMA)
• Chartered Institute of Public Finance and Accountancy (CIPFA)
• Institute of Chartered Accountants of Scotland (ICAS)
• Chartered Accountants Ireland (CAI)

Each professional body has its own unique pathways, requirements, and costs so it’s important to do some research into what each one offers. Once you’ve settled on the right accounting body, you can register with them and enrol in their respective courses. 

3. Complete practical experience 

To become a chartered accountant, you’ll need to gain a minimum amount of practical work experience. The exact requirements will vary depending on the accounting body you register with. 

The ICAEW, for example, requires students to complete 450 days of relevant accounting experience with an authorised training employer. ACCA, on the other hand, requires at least three years of practical experience to become a qualified chartered accountant.

4. Pass professional exams

You’ll also need to pass a series of examinations to become a chartered accountant. The exact examinations you’ll take and how they are organised will depend on the professional accounting body you register with. They typically cover practical accounting skills and knowledge, as well as modules on professional ethics.

For example, if you choose to study with ICAEW, you’ll need to pass 15 exam modules spread across three different levels: certificate level, professional level and advanced level. ACCA requires you to pass a maximum of 13 exams depending on your current experience and qualifications. 

5. Maintain your membership through CPD

Once you’ve achieved Chartered Accountant status, you’ll need to engage in continuous professional development (CPD). CPD is a requirement for maintaining accounting certifications and professional body memberships. This typically involves recording a minimum number of CPD hours per year in relevant learning and development. 

CPD ensures that you are continuously adding to your expertise and knowledge. It enables you to stay ahead of ever-changing trends, best practices, and regulatory requirements.

What skills are required to become a chartered accountant in the UK?

Becoming a chartered accountant requires a diverse range of soft skills. Here, we’ll list some of the core skills you’ll need to succeed as a CA.

Strong analytical skills

Chartered accountants analyse financial data, identify trends and provide valuable insights that help shape business decisions. Accounting analytics platforms do most of the heavy lifting when it comes to data analysis. Still, chartered accountants must be able to interpret insights and apply them to real-world situations.

Attention to detail

Attention to detail is crucial for chartered accountants, who often work on high-profile and impactful tasks. CAs must have a keen eye for mistakes or irregularities, ensuring that financial statements and reports are complete and error-free.

Ethical judgement and integrity

Chartered accountants are trusted with sensitive financial information. Moreover, the work they do can shape the financial direction that businesses and individuals take. With this in mind, ethical judgement and professional integrity are paramount. Professional accounting bodies do a good job of bringing ethics into the learning process. Nevertheless, chartered accountants must always remember to make the right decisions for the right reasons.

Communication skills

Chartered accountants don’t just need to be detail-oriented number-crunchers. They also need to be strong communicators. Their work involves explaining complex financial matters in clear terms to non-financial stakeholders.

Team management and organisation skills

Chartered accountants often find themselves in more senior roles. They may be tasked with organising workloads and overseeing client satisfaction. This means excellent team management and organisational skills are essential. 

Technology can help here. With practice management software such as TaxDome, accountants get a top-down view of all their team’s work, including tasks, deadlines, and dependencies. They can assign work, monitor progress, and track time all in one place. And with AI-powered reporting, accountants can understand team performance on a broad or granular level. This enables them to manage staff, clients, and resources more effectively. 

Leadership skills

As a chartered accountant, you may lead an entire team or department on important and complex projects. You’ll need to know how to motivate, support and collaborate with professionals with different levels of expertise. 

Adaptability and resilience

In a fast-changing world, adaptability and resilience are key. Being a chartered accountant involves working on complex tasks, often with tight deadlines. This makes the ability to work under pressure very important.

Risk-management and decision-making

Chartered accountants are often tasked with suggesting strategies that will change the financial course of an organisation. When multiple pathways are available, they must analyse the potential benefits and risks to settle on the best possible course of action. The ability to weigh options and predict outcomes is essential.

Different chartered accountant qualifications

The specific pathway you choose to become a chartered accountant will depend on the accounting body you register with. Each professional body has its own qualification, and each qualification involves different requirements. 

In this section, we’ll break down the key qualifications you can obtain to become a chartered accountant in the UK. 

ACA (Association of Chartered Accountants)

Provided by the Institute of Chartered Accountants of England and Wales (ICAEW), the ACA is one of the most popular and prestigious qualifications for UK-based accountants. ACA-qualified accountants often go on to work in areas such as financial accounting and audit.

The ACA qualification comprises four key elements: 

• 450 days of practical work experience
• 15 exam modules
• Modules on ethics and professional scepticism

ACCA (Association of Chartered Certified Accountants)

The ACCA qualification is provided by the professional body of the same name and is often seen as the major alternative to the ACA. Like the ACA, the ACCA has a broad scope, and accountants who take it go on to work in a wide range of accounting and finance roles. 

Passing the ACCA requires the following: 

• Three years of work experience
• Up to 13 exams, depending on your experience level
• Modules on ethics and professional skills

CGMA (Chartered Global Management Accountant)

The CGMA qualification is provided by the Chartered Institute of Management Accountants (CIMA). As the name suggests, it’s geared towards management accounting. Qualified accountants go on to work in corporate accounting roles, focusing on areas such as business strategy, risk management, and financial reporting.

The CGMA syllabus is divided into three different pillars: enterprise, performance, and financial. There are also three levels of progression: operational, management and strategic. In total, CGMA comprises:

• A minimum of three years of relevant practical experience
• 12 exams
• 9 objective tests
• 3 case study exams

Upon completion of the course, accountants can use both the CGMA and the ACMA (Associate Chartered Management Accountant) designations.

CPFA (Chartered Public Finance Accountant) 

The CPFA qualification is provided by the Chartered Institute of Public and Finance Accountancy (CIPFA). This is the perfect route for anyone interested in working as a chartered accountant in the public sector. 

To be eligible to study for the CPFA, you need to demonstrate a minimum level of experience and expertise. One of the simplest pathways to achieve this is to take CIPFA’s Professional Accountancy Qualification (PAQ).

ICAS CA 

Members of the Institute of Chartered Accountants Scotland (ICAS) can take the Chartered Accountant (CA) course to gain Chartered status. This qualification provides broad exposure to a range of accounting practices and involves the following requirements:

• 450 days of relevant practical experience
• Core skills and elective skills
• Case study
• Professional ethics

CAI CA 

Chartered Accountants Ireland (CAI) also offers a pathway to Chartered Account qualification. While this is aimed at accountants based in Ireland, it is recognised across the British Isles. The CAI’s CA program comprises three levels:

• CAP1: provides foundational accounting knowledge
• CAP2: builds on the knowledge acquired in CAP1
• FAE: integrates the knowledge and skills acquired in CAP1 and CAP2

How long does it take to become a chartered accountant?

The time it takes to become a chartered accountant will depend on the professional body you choose, your current level of experience and expertise, and the time you can dedicate to studying. As a rule of thumb, you can expect the journey to Chartered status to take approximately three to five years. 

Once you’ve passed all exams and met all other requirements, you’ll be awarded a certificate from your accounting body. You can then include the official designation after your name. You can also advertise yourself as a chartered accountant when applying for jobs or looking for new clients. 

To sum up 

For accountants in the UK, achieving Chartered Accountant status is often a major career goal. Chartered accountants enjoy higher salaries, more impactful work, and a whole host of professional opportunities. 

The journey to becoming a chartered accountant is not without its challenges, however. There are many exams to pass, as well as practical work experience to gain. But for those with the dedication and commitment to qualify as a chartered accountant, the sky’s the limit.

We hope you’ve found this article useful. Beyond qualifications, it’s important to remember the key role that technology plays in modern accounting. In many cases, the software you choose will define how successful and efficient your accounting practice is. 

TaxDome provides professional all-in-one software for chartered accountants, with all the tools they need to manage clients, teams, projects, and workflows. To see for yourself how TaxDome can take your accounting practice to the next level, request a demo today.