What is the difference between an accountant and a chartered accountant?

By law anyone can call themselves an accountant. The title ‘chartered accountant’ and the letters ACA or FCA, however, indicates that the person has undertaken a period of training whilst registered with a professional body such as ICAEW and passed a series of rigorous examinations.

Although unqualified accountants are subject to the same laws as chartered accountants, use of the title ‘chartered accountant’ shows that they have been recognised as properly qualified by a professional body.

Professional associations have strict standards that members must adhere to. An ethical code of practice and continued professional education and development programmes ensure their members give the best possible service and level of care to clients.